Mearaji in the news conference of the IPO of Chromite Mines Development Company Kavandeghan Bana: Chromite Company is a pioneer in completing the production chain.

The CEO of Chromite Mines Development Company, Kavandeghan Bana, said: The activity of this group is to carry out all operations related to exploration, ore dressing and mineral processing, support services and partnerships with natural and legal persons in the field of mining.

According to the report of the capital market correspondent of the analytical news site of Bursa Times, The first press conference of the initial public offering of shares of Kavandgan Bana Chromite Mining Development Company with the symbol “Chromite”, in a meeting of an offering, this morning, Monday, November 8, 1402, with the presence of Seyed Toraj Mearaji, the CEO of Kavandangan Bana Chromite Mining Development Company, Rahim Pirzadi, the company’s financial director. Development of Chromite Mines of Kavandeghan Bana, Mojtaba Jahangiri, CEO of Lotus Parsian Capital Supply Company and valuer of Kavandegand Bana Chromite Mines Development Company, other managers and a group of media persons, was held at the location of Iran Farbours Company.

Seyed Toraj Mearaji, CEO of Kavandeghan Bana Chromite Mines Development Company

Seyed Toraj Mearaji, the CEO of Kavandgan Bana Chromite Mines Development Company, said at the beginning of this press conference: The mines owned by our company with an area of ​​more than 300 square meters are located in the high-potential Khorasan-Razavi province, and the head office in Tehran takes care of all technical and logistical matters. .

Pointing out that the company has 13 chromite exploitation licenses and it is unique in its kind, he said: “The chromite company is a pioneer in completing the production chain.”

The CEO of Kavandeghan Bana Chromite Mining Development Company, explaining the history of this company, said: This company was established in the private sector in 1395 and became a public stock in 1401 and was admitted to the OSE.

Mearaji pointed out the activity of this mining complex and said: The activity of this complex is to carry out all operations related to exploration, ore dressing and mineral processing, support services and partnership with natural and legal persons in the field of mining.

He further announced that the current capital of this company is 155 billion tomans and said: 95% of the company’s shares are owned by a real person and the initial supply of shares will be done by this person. Other shares are also available to company personnel.

The CEO of Kavandeghan Bana Chromite Mining Development Company pointed out the global production situation of chromite and said: The global production trend of this product is increasing, which is due to the demand of steel in the world.

Mearaji reminded: Since the world is moving towards industrialization, steel is the first requirement in the process of globalization, and chromite is the first requirement for steel production.

Emphasizing that chromite is mainly used in steel and foundry industries, he added: The global trade of chromite shows that the market value of chromite in the world is about 2500 million dollars per year.

The CEO of Kaundegan Bana Chromite Mines Development Company pointed out that South Africa is the largest producer and exporter of chromite in the world, because it has the largest mines, and said: China is also the largest importer.

Mearaji further mentioned the establishment of “Ferro Chrome Sanat Bana Machine” factory and said: With the launch of this factory, the production chain in Chromite will be completed.

Emphasizing that the location of the said factory will eliminate transportation costs for Chromite, he added: This factory has made 90% progress so far and all the equipment has been imported from China. The Chinese team is installing the equipment and the factory will be up and running soon.

The CEO of Bana Chromite Mines Development Company emphasized that “Fro Chrome Sanat Bana Machine” will create double profits for the parent company, saying: Chromite has 13 mines, the most important feature of which is blockiness. These mines are not scattered, which reduces logistics costs.

Mearaji announced that the main process of the parent company is the production of chromite and manganese and said: Sanat Bana also produces ferrochrome and produces copper oxide and conducts exploratory discussions.

At the end of his speech, the CEO of Chromite Mines Development Company, Kavedungan Bana, said: We have also taken steps to obtain two copper exploration licenses in Azerbaijan.

Rahim Pirzadi, financial manager of Kavandgan Bana Chromite Mines Development Company

Rahim Pirzadi, the financial manager of Kavandgan Bana Chromite Mining Development Company, said in the continuation of this press conference: “The financial information has been fully disclosed on the Kodal website.” For the year 2019, Chromite Company had sales of 58 billion tomans, this number increased to 62 billion tomans in 1400 and to 92 billion tomans in 1401.

Pointing out that the production of the second product of this complex started in August of last year, he said: Out of the 92 billion Tomans income last year, 4800 billion Tomans belong to Manganese.

The financial manager of the Chromite Mining Development Company of Kavandeghan Bana, pointing out that the sales trend in 1400 compared to 1401 has recorded a growth of 49%, added: Since this industry does not have raw materials, most of the expenses are related to salaries and expenses It is overhead.

Pirzadi further stated that the company’s gross profit last year was 73 billion tomans and said: For the year 1401, the Chromite Group realized a net profit of 69 billion tomans.

Emphasizing that the fixed profit margin of this industry is a safe platform for investors, he said: On average, there is an operating profit margin of 80-82% annually in this industry.

At the end of his speech, the financial manager of Chromite Mines Development Company, Kavandeghan Bana, pointed out the performance of 6 months of this year and said: 58 billion Tomans of sales have been recorded in 6 months of this year. According to the budget estimate, it is expected that we will realize the budget of 105 billion tomans.

Mojtaba Jahangiri, CEO of Lotus Parsian Capital Supply Company and valuer of Kavandeghan Bana Chromite Mines Development Company

Mojtabi Jahangiri, CEO of Lotus Parsian Capital Funding Company and valuer of Kavandegana Bana Chromite Mining Development Company, said in the continuation of this press conference: Inflation rate based on the estimates of the International Monetary Fund, the dollar rate for 1402 is equal to 40 thousand Tomans with an upward trend of 20%. For the following years and the price per ton of chromite equal to 250 dollars, our assumptions for the valuation of this company have been.

He continued: Also, the estimated sales income for 1402 is equal to 46% and for the coming years (until 1406) it is equal to 20% increase.

CEO of Lotus Capital Funding Company Parsian, pointing out that raw materials are not very important in the finished price, said: the cost of salaries and government duties, extraction and preparation, the cost of fuel and other costs are calculated based on inflation.

At the end of his speech, Jahangiri said about the summary of the valuation done for the Chromite Mines Development Company, Kavandegan Bana: After the estimations through 4 valuation methods, the summation of the valuation methods shows that the value of the entire company is 1028 billion Tomans for the entire company and 6635 Rials per share. Is.

According to this report, Bana Chromite Mines Development Company was established on July 2, 1995 as a special stock and was registered in Tehran Companies and Industrial Property Registration Department. With the support and participation of the private sector, at the beginning of its establishment, it started its activities by purchasing 13 chromite mining licenses with an area of ​​226 km in Razavi Khorasan province. The company has two copper mining areas in East Azerbaijan, which are expected to be exploited and extracted in the near future.

Bana Chromite Mining Development Company owns 60% of Sanat Bana Machine Company. The main program of this company is mineral processing and conversion of chromite mineral into ferrochrome. The ferrochrome production plant is being completed and built and according to the latest forecasts, it will be put into operation from the beginning of the year with a capacity of 12 thousand tons of ferrochrome production.

The company was established in 1995 with an initial capital of 500 million tomans and during several stages of capital increase it reached 155 billion tomans. Alireza Rajab Ali Bana owns 95% of shares, Sohail Zargin owns 2.36% of shares, Saina Matiei owns 1.47% of shares, and others own 1.17% of shares.

It should be noted that the introductory meeting of the Chromite Mines Development Company of Kavandange Bana with the symbol “Chromite” at 10:30 on Monday and Tuesday, November 8 and 9, online and throughwww.wachartv.com It will be broadcast live. Applicants can submit their questions until 16:00 on Monday through the system dedicated to initial offerings on the official website of Farabours Company at the address www.ifb.ir to send

Media reporter: Mohammad Rezaei