Mobarakeh Steel tells its annual meeting that energy restrictions cost it forgone profit

Mobarakeh Steel of Isfahan held its annual ordinary general meeting on Sunday 2 August 2026. According to what the company told the meeting, forgone profit caused by energy restrictions has reached 14,000 billion toman, while the company said its commercial and sales flow has been maintained and continues. Net profit for the year 1404 was given as 100,000 billion toman, with consolidated group profit of 103,000 billion toman.

Saeed Zarandi, the company's managing director, told the same meeting that crude steel output across the group rose 8.3 percent in 1404. He pointed to the rise in the gas price from about 2,800 toman to 11,200 toman in Esfand 1403 and 16,500 toman in Dey as one of the main pressures on profitability, and named mandated pricing of steel products as another challenge of the past year.

Mobarakeh Steel is the largest producer of flat steel products in the region and one of the heavyweights of the Tehran exchange.