Fundamental analysis of Shepdis/ the hard way of campus in 1402 – Tejaratnews

According to Tejarat News, a look at urea transactions in the Persian Gulf shows that the market for this product has not been prosperous in the past two years. As seen in the chart, the price of Persian Gulf urea has reached $325 from $935 in November 1400 with a 65% drop.

Urea, which is considered the main petrochemical product of Fardis, has a great impact on the company’s income. But a look at the attached Kodal report of Pardis Company indicates that the sales rates of the company are determined at the time of pre-invoice and any change in global urea rates has no effect on Pardis sales rates at the time of delivery.

In this way, the decrease in the price of urea in the Persian Gulf in the last two years has not shown itself in the campus financial statements. Although the continued global reduction of urea rates may affect the company’s future sales contracts.

Operating income of Pardis Petrochemical Company

Referring to this issue and looking at the annual financial statements of Pardis Petrochemical Company, it is clear that the sales amount of Pardis Petrochemical Company, which is considered as its operating income, has increased by 119% in the fiscal year 1401 compared to 1400. In this way, Pardis Petrochemical was able to earn 43 thousand 158 billion Tomans from its operations last year.

This is despite the fact that the campus was consuming its feed gas at a rate of more than 6000 Tomans in half of the fiscal year 1401. But after the approval of the government in Bahman 1400, a ceiling of 5000 tomans was set for this feed.

This food ceiling made the campus to be able to guarantee its profitability this year by maintaining the balance between income and the cost of products. So that the company’s income in 1401 compared to 1400 has increased by 119% and the total price of products has increased by 125%.

In this way, there was not much difference between the increase in income and the cost price in the fiscal year 1401. This caused the net profit of the campus to experience a 100% increase following the growth of revenues, from 12,811 billion tomans in the fiscal year of 1400 to 25,582 billion tomans in the fiscal year of 1401.

1402 Will it be difficult for urea manufacturers?

Now, the story is a little different; Because, on the one hand, the global price of urea is going down, and on the other hand, the gas feed rate of petrochemicals has faced a significant jump in the new year. So that the feed rate has reached 7000 tomans from 5000 tomans with a growth of 40%.

On the other hand, urea companies are facing a serious problem of receiving their rights for the sale of agricultural urea. Because the government has required these companies to sell urea at a discount and always makes promises for the difference.

Naturally, if a company does not earn income from the sale of part of its products, it will face the problem of profit making in the long run.

Campus in June 1402

Pardis Petrochemical Company did not have an acceptable performance in June this year and the two factors of production and sales of the company have decreased. In this way, the amount of the company’s production in this month has decreased by 6.33 percent compared to May of this year and by 2.91 percent compared to June of last year and has recorded 425 thousand tons.

But the fall in the sales figures of the company was more severe and this parameter has decreased by 28% compared to May of this year and 22% compared to June of last year and has reached 237 thousand 122 tons.

In general, it can be said that the campus has not done well in 1402 so far and the way forward is not so smooth due to the high price of food.

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