MSC sold 6.3 million tons of steel products worth over 140 trillion rials ($3.1 billion) during the period, indicating a 10.47% and 54.97% growth in tonnage and value respectively compared with last year’s similar period, according to latest data released by the company on Codal.ir.
The steelmaker has so far realized 97% of its sales target for the year and only requires 3.6 trillion rials ($81.55 million) more to reach it.
MSC, which is also Iran’s largest steelmaker in terms of capacity, produced a total of 6.26 million tons of steel products in the 11-month period to post a 13% YOY growth, Financial Tribune reported.
Hot-rolled coil were MSC’s main steel production during the period under review with output reaching 3.74 million tons, 3.64 million tons of which were sold valued at 79.72 trillion rials ($1.77 billion). HRC production was up 8.29%, sales volume declined 1.45% and sales value surged 42.47% year-on-year.
Cold-rolled coil came next with production reaching at 1.34 million tons, up 14.63% YOY. The entire produced amount was sold at 35.23 trillion rials ($738.1 million), growing 7.58% and 54.67% respectively YOY.
Mobarakeh’s highest growth was experienced in production and sales of “other” steel materials. The “other” category, which includes niche flat products, marked a whopping 38.85%, 121% and 209% YOY upsurge in production, sales volume and value to 897,000 tons, 1.04 million tons and 16.83 trillion rials ($370 million) respectively.
MSC sold 634,000 tons of steel products worth 1.59 trillion rials ($35.33 million) as it produced 588,000 tons in the year's 11th month (ending Feb. 19 to register a 44.74%, 84.9% and 23% YOY growth respectively.
The latest statistics by the Iranian Mines and Mining Industries Development and Renovation Organization indicate that Mobarakeh was Iran’s fourth largest steel exporter during the 10 months of the current fiscal year (March 21-Jan. 21) as it shipped 880,054 tons of hot- and cold-rolled, acid-washed, tin-plated, coated, checkered and galvanized flat steel to overseas destinations, marking a 39% YOY drop.
Together with its subsidiaries, MSC is the largest flat steel producer in the Middle East and North Africa region and Iran’s largest steelmaker, supplying 20% of the region’s steel demand and accounting for 1% of Iran’s GDP.
MSC, with the ticker symbol “FOLD”, is listed on Tehran Stock Exchange with a market cap of 216.67 trillion rials ($4.81 billion) as of Feb. 26. Its EPS stands at 619 rials per share and it realized 277 and 150 rials per share for the last two years. The price to earnings ratio stood at 4.67 on Monday.