Pars Detergent's 9-Month Profit Triples, Price Hiked Again Today; P/E Still 25% Below the Chemicals Sector (Thursday, October 1, 2026)

Pars International Products, traded on the Tehran Stock Exchange as BMPS (نماد شپارس), reported operating revenue of 39,289 billion rial for the nine months ended June 21, 2026 (31 Khordad 1405), up 111% from the same period a year earlier. Net profit for the same period reached 3,241 billion rial, up 248%. Today, Thursday, October 1, 2026, Iran's Detergent, Hygiene and Cosmetics Industries Association raised the sale price of the company's washing powder, a line that made up 96% of last year's revenue, from 1,148,738 rial to 1,378,486 rial, a 20% increase.

Background

BMPS trades in the chemicals group on the Tehran Stock Exchange. Most of its output is industrial and household detergent whose domestic sale price is set every few months by the Detergent, Hygiene and Cosmetics Industries Association, not by open-market supply and demand. Per its unaudited interim statements for the period, 96% of last fiscal year's revenue came from these price-regulated products, with only 4% exported and outside the pricing regime, meaning almost every approved rate change flows nearly straight through to the top line. The same regulatory channel raised Kaperspolis's prices 15% a few weeks ago.

The numbers

• Nine-month revenue: from 18,635 billion rial (year-earlier period) to 39,289 billion rial; up 111% (Codal, tracing number 1566811, published July 21, 2026).
• Nine-month net profit: from 932 billion rial to 3,241 billion rial; up 248% (same filing).
• Operating profit: from 1,710 billion rial to 5,702 billion rial; up 233%.
• The company's trailing-twelve-month P/E on the Tehran board: 7.5 as of September 30, 2026, against the chemicals sector average of 10.
• Share price over the past year: from about 690 rial to 2,771 rial as of September 30, 2026; up 302%, and only 4.6% below its 52-week high of 2,904 rial.
• Registered capital over the same year rose from 1,650 billion rial to 11,400 billion rial; as a result, earnings per share fell 53% year on year even as total net profit rose 248%.

Drivers

The main driver is regulation, not the open market: because BMPS's products sit on the detergent association's price-regulated list, a rate increase runs through formal negotiation with that association. Second, the short gap between rate increases this Mehr suggests that negotiation has accelerated; a similar pattern showed up in Iran Aluminium's P/E dossier, where quarterly profit grew before the share price fully caught up. Third, the high share of regulated revenue (96%) means almost the full effect of any rate rise converts to profit, as long as input costs do not rise just as fast.

Outlook

Rasad's flow_turn signal from the September 28, 2026 session (reference price 2,613 rial) keeps BMPS's uptrend open toward a 2,874 rial target over a 15-session horizon, with an invalidation at 2,439 rial. Across the 1,224 similar up flow_turn signals Rasad has filed in a rising, low-volatility regime, 73.3% have reached their target, with an average return of 2.92% over roughly 5 sessions. The main risk is that the share is now only 4.6% off its 52-week high, and part of today's pricing news may already be reflected in its recent five-session rally; the same caveat Sahmino's cheap-and-profitable screen always carries: a low multiple alone is never a guaranteed return.

Bottom line

BMPS grew sales and profit 111% and 248% respectively over nine months and won a fresh 20% price increase today, yet still trades at a P/E of 7.5, about a quarter below the chemicals sector's 10. Rasad, on the basis of its flow_turn signal, holds the uptrend toward 2,874 rial valid over a 15-session horizon for as long as BMPS's closing price stays above 2,439 rial.

What to watch

• BMPS's Mehr monthly activity report, for the real effect of the new rate on sales.
• The reopening reaction on Saturday, October 3 (11 Mehr), measured against its trading volume.
• The flow_turn signal's 2,874 rial target and 2,439 rial invalidation on Rasad's signals page for BMPS.
• The company's next interim report, to see whether the 248% profit growth continues or slows; see also today's comparable Sepa dossier.