Review of the 9-month performance of Tappico Holding’s subsidiaries for 1403; Net profit of Khorasan Petrochemical, Iran Carbon and Qeshm Faravard Chemical companies exceeded the approved 9-month plan

Review of the performance of the 9-month period of 1403 (2024) of the subsidiaries of Tappico Holding;
Net profit of Khorasan Petrochemical, Iran Carbon and Qeshm Faravard Chemical companies exceeded the approved 9-month plan
A review of the net profit realization performance for the nine months ending in December 1403 of the subsidiaries of Tappico Holding shows that the net profit of Khorasan Petrochemical, Iran Carbon and Qeshm Faravard Chemical Companies has been realized in comparison to the approved nine-month budget figure in 1403.

According to the Tappico information site, in the nine months ending in December 1403, Khorasan Petrochemical, Iran Carbon and Qeshm Faravard Chemical Companies were able to achieve the net profit figure approved for the nine-month budget.

In this regard, the net profit of Khorasan Petrochemical Company, as the largest chemical products production center in the north and northeast of the country (production of ammonia, urea fertilizer, and melamine crystals), has reached more than 3,657 billion tomans during this period, with more than 100 percent realization of the approved 9-month budget plan (about 3,650 billion tomans).

Also, the net profit of Faravard Qeshm Chemical Company, with the ability to produce polyethylene products (bags and shrink wrap), which are often used in packaging products of important industries, including the petrochemical industry, reached 31 billion Tomans in the 9 months ending in December 1403, which represents a 103% realization compared to the approved 9-month budget plan (about 30 billion Tomans).

In addition, the net profit of Iran Carbon Company, as a supplier of industrial carbon black to more than 200 domestic and foreign manufacturers in the fields of tire production, tire repair, footwear, wire and cable, automobile parts, pipe manufacturing, battery manufacturing, paint, composites and plastics, has increased to about 463 billion tomans during this period, with a 101% realization compared to the approved 9-month budget plan (about 460 billion tomans).

It is worth mentioning that the Oil, Gas and Petrochemical Investment Company (TAPPICO) was established in 2002 and operates as one of the largest multidisciplinary holding companies in the country and the second largest holding company in the oil, gas and petrochemical sectors, a subsidiary of the Social Security Investment Company (Shasta).