Mohammadreza Zamaeyad, a representative of Dorpad Industrial Group of Tabriz, began the meeting by outlining the history of this industrial enterprise. He stated that Dorpad started its operations in 2002 as the first manufacturer of galvanized sheets within a 35-kilometer radius of Tabriz, and later expanded to produce galvanized pipes and furniture profiles.

He added: "Today, Dorpad's products are recognized as a top brand in the domestic market, and in 2014, a rebar production line was also launched within the company."

According to Zamaeyad, corporate governance has been implemented within the enterprise, and the necessary international standards have been acquired. Additionally, the production line equipment is operating in accordance with global standards.

Referring to the ownership structure of Dorpad, he mentioned that Gostaresh Foolad Tabriz Investment Company holds 100% of the shares of Dorpad Industrial Group of Tabriz.

Zamaeyad further introduced Darik Investment Development Company as the parent holding of Dorpad Industrial Group, noting that the holding owns six subsidiaries in various industrial sectors. Gostaresh Foolad Tabriz Investment Company is also among the affiliated holdings.

He reported that Dorpad's share of the country's steel industry production stands at 1.3%, and announced the continuous growth of the company’s production output.

Development Projects and Exports

This industrial manager highlighted Dorpad's development projects, saying: "The implementation of a melting and casting plant to produce ingots and convert them into rebar and other final products is one of the most important development plans of the company."

He emphasized that a major portion of the company’s products is exported through trading companies, due to the proximity to the Iraq border, and sales continue regularly in the commodity exchange. The company’s sales in the previous year were reported at 4,100 billion Toman.

Explaining the Valuation Process of Dorpad’s Shares

Meisam Belgorian, the financial services manager of Lotus Parsian Investment and a representative of the valuation firm, explained the valuation methods during the meeting, stating: "The company’s production and sales have followed an upward trend in recent years, and this trend serves as the basis for predicting future performance."

He elaborated: "The analysis shows that the sales growth rate in recent years has always exceeded the cost growth rate, thus maintaining and strengthening the company’s operating profit margin."

According to Belgorian, the company’s net profit in 2024 reached 219 billion Toman.

Result of the Share Valuation

The representative of the valuation firm explained the valuation process, stating that four income-based methods were used in the calculations, with macroeconomic assumptions such as inflation rates considered based on international organization estimates.

In conclusion, the representative stated: "By assigning a 5% weight to the net asset value method and with the goal of supporting retail shareholders, the estimated value of Dorpad Industrial Group of Tabriz is approximately 1,156 billion Toman, and the value of each share is 772 Toman."