Daroupakhsh Grew Quarterly Profit 402% and Six-Month Sales 244%; Rasad Holds a Buy Call on It With a 10,003-Rial Target (Wednesday, September 30, 2026)

Daroupakhsh (ticker DPAK, نماد «دارو») hit a one-year high of 9,350 rials on Tuesday, September 29, 2026, and trades today, September 30, up nearly 3% at 9,630 rials. Behind the move is a real number: the company's spring 1405 (Q1, ended June 21, 2026) financial statement shows net profit up 402% and revenue up 222% year on year, and a monthly activity report filed just yesterday confirms six-month domestic sales are up 244%. Despite all that growth, the stock's trailing twelve-month P/E is still only 11.5x.

Background

Daroupakhsh Manufacturing Co. (نماد دارو) is one of the oldest listed drugmakers on the Tehran Stock Exchange, trading alongside 72 peers in the pharmaceuticals sector. Its annual general meeting on June 17, 2026, approved a 260-rial-per-share cash dividend for the year ended March 20, 2026 (net income 26,835 billion rials, EPS 518 rials), a 50.2% payout ratio. Over the same span the company's registered capital rose from 2,600 billion rials (spring 1404) to 51,800 billion rials (spring 1405), nearly a twentyfold increase, which must be accounted for whenever per-share figures are compared across the two periods.

The numbers

• Operating revenue for the three months to June 21, 2026: 53,102 billion rials, versus 16,501 billion rials a year earlier; up 222% (Codal interim financial statement, filed July 21, 2026).
• Net profit for the same quarter: 20,870 billion rials versus 4,156 billion rials; up 402% (same filing).
• Six-month domestic sales for the current fiscal year (through September 22, 2026): 135,663 billion rials versus 39,451 billion rials a year earlier; up 244% (monthly activity report, filed September 29, 2026).
• The single month of Shahrivar (Aug 23 to Sep 22) alone brought in 30,809 billion rials in domestic sales, about 47% above the company's own five-month average of roughly 20,971 billion rials a month.
• Trailing twelve-month P/E: 11.5x; EV/EBITDA: 7.9x; net margin: 35.4%; return on equity: 48.9% (Sahmino's filed-statement calculations; valuation multiples use the September 30, 2026 close of 9,630 rials).
• Sahmino's composite score for Daroupakhsh is 65 of 100, ranking it 4th of 72 names in the pharmaceuticals sector and 208th market-wide (nightly calculation, September 30, 2026).

Drivers

The first driver is operating profitability: gross margin rose from 43.9% in spring 1404 to 59.4% in spring 1405, and operating profit grew 349%, meaning the profit growth is not revenue alone but also a better cost structure. The second is continuity: the monthly filing shows Shahrivar's single-month domestic sales accelerating not just year on year but against the company's own five-month average, suggesting spring's growth was not a one-off. The third is the board's own reaction: the stock opened 2.97% higher on Tuesday, logged its seventh straight higher close, and hit its 52-week high; today a buy queue of more than 317 million shares was visible on the book.

Outlook

The main risk is not that the figures are unreal; both filings come from Codal a day apart and corroborate each other. The risk is that the market has already priced the growth in: the stock is up 555% over the past year and set a fresh 52-week high just yesterday. Separately, the near-twentyfold capital increase means this period's per-share profit is not directly comparable with the prior period's, so Sahmino's 11.5x P/E should be read alongside the 402% growth in total company profit, not per-share profit. No group-A material disclosure in the past 90 days names a specific cause for the price or volume jump, so the main driver remains the combination of regulated price adjustments and higher domestic sales volume visible in the statements themselves.

Bottom line

Daroupakhsh is a stock whose profit and sales have grown faster than its price: quarterly profit up 402% and six-month domestic sales up 244%, yet the trailing P/E sits at just 11.5x. Rasad's desk holds a buy call from the September 29, 2026 session, with a reference price of 9,080 rials, a target of 10,003 rials and an invalidation at 8,465 rials over a 15-session horizon; this type of call has reached its target 200 times out of 281 comparable cases. The read holds as long as the price stays above 8,465 rials; a close below that level invalidates it.

What to watch

• Daroupakhsh's six-month (summer) financial statement, usually filed in Aban (late October to November): does the 402% profit growth repeat in the second quarter?
• The Mehr monthly activity report: does single-month sales exceed Shahrivar's 30,809-billion-rial level, or does it slip?
• The call's 8,465-rial invalidation and 10,003-rial target, tracked live on Daroupakhsh's price page on Sahmino.

For other names Rasad's own fundamental filters have flagged as buys, see Sahmino's recent screen of cheap, profitable stocks and a similar case at Kaperspolis' price hike.