Speaking at the company’s annual general meeting, Akbar Esmaeili
outlined a strategic roadmap that includes cost optimization through technology
adoption, expansion of export markets, and financial restructuring.
“Eighty percent of this year’s total revenues have been generated
through exports, a sharp recovery from the previous fiscal year’s slight
decline in foreign sales,” Esmaeili said, adding that Lordegan Petrochemical
remains one of the top performers in fulfilling forex repatriation obligations
across Iran’s petrochemical industry.
The AGM, held with over 69.5% shareholder attendance, also approved
the company’s financial statements for the fiscal year ending March 2025.
According to the independent auditor’s report, Lordegan’s financial position
and cash flows were presented fairly in accordance with Iranian accounting
standards.
Esmaeili voiced concern over delayed payments from the Ministry of
Agriculture for urea supplied to support national food security efforts, saying
that liquidity challenges are being addressed through internal measures and
coordination with holding companies.
The managing director credited Persian Gulf Petrochemical Industries
Co. (PGPIC), Lordegan’s parent company, for helping the plant circumvent
electricity blackouts by excluding it from the national grid's planned power
cuts. “This move has allowed us to improve our utilization rate, previously
recorded at 46%,” he noted.
With the installation of a new compressor, the company expects to
reach full production capacity by year-end. Additionally, Esmaeili stressed the
need to restructure the firm’s debt through foreign exchange-to-rial
conversions with the assistance of PGPIC and its financial arms.
“Energy and feedstock costs make up 66% of our total expenditure.
Optimizing these segments through technology and best practices is a top
priority,” he added.
Lordegan is also exploring swap arrangements with peer companies
within the PGPIC network. One such deal, involving 30,000 tons of urea, has
already been executed with Pardis Petrochemical.
In line with Iran’s Seventh Development Plan, which encourages gas recovery
from flaring in oil-rich southern regions, Esmaeili said the company is
pursuing a plan—pending approval by the Petroleum Ministry—to utilize its
recovered gases during the winter.
When asked about share price growth, Esmaeili cited stable production,
rapid export sales, and controlled forex liabilities as key drivers. He
concluded by outlining several ongoing initiatives, including a 50-megawatt
solar power project, human resources restructuring, and optimization of
technical processes and hardware to increase profitability and sustainability.