Kermanshah Petrochemical (Karmasha) Is About to Reopen After Its AGM: a 97% Capital Increase, a 1,227-Rial Dividend, and the Global Urea Shock in the Background (Saturday, July 11, 2026)

Kermanshah Petrochemical (Karmasha), one of the few urea and ammonia producers on the Tehran Stock Exchange, is halted for its annual meeting and about to reopen. It registered a 97% capital increase and approved a 1,227-rial dividend (40% payout) at its July 7 AGM. The stock trades at a trailing P/E of about 8.18, roughly in line with the chemicals group average of 8.24, so its story is the global urea cycle amid the renewed Hormuz crisis, not a valuation discount.