Я на машине!

Every year, Industrial Management Institute classifies Iranian companies based on their financial statements and according to various parameters and indicators.

One of the indicators measured for this purpose is the amount of assets of the companies. Last year, IKCO with an asset of over $30b ranked first among Iran's top 300 companies.

MAPNA and SAIPA followed IKCO as the second and third richest companies with assets close to $7b.

The report reads that BIPC, Mobarakeh Steel Company, Esfahan Steel Company, Esfahan Oil Refinement Company, National Iranian Copper Industries Company, Fars & Khuzestan Cement Company and Pars Petrochemical Company are Iran's forth to tenth richest companies.

The huge gap between IKCO and the following companies in the list indicates that Iran's giant carmaker would be able to remain the country's richest company for years.

In its annual ordinary general meeting for the fiscal year that ended on March 20, 2011, Iranian top carmaker paid $210m to its shareholders, that was 301 percent higher than the previous year-end dividend and hit a record high among its domestic rivals.

IKCO has always tried to increase profitability through optimal management of liquidity such as provision of proper inexpensive liquidity through inexpensive financial procurement methods and also control of costs and reduction of cost price of some of products coupled with production growth.

During the first 8 months of the current Iranian year - March 20 to November 20, 2011 - 1.09 million cars were manufactured by local car manufacturers in Iran, resulting in a growth of 5%, compared to the same period previous year.

Iran's auto industry has registered an exponential growth pattern in the past 10 years. Iran-Khodro Company went ahead with plans to produce spare parts within the country instead of depending on imports.

IKCO is also concentrating on exports of its vehicles. Iran is emerging as one of the world's major auto manufacturers and is expanding their operations partly due to the fact that Iran-Khodro Company (IKCO) has put forth an aggressive production plan and growth tactic.

According to IKCO's plans, Iran recorded a growth in sales by 18% during 2010. Estimates and reports also suggest that Iran's auto sector has avoided the direct impact of international sanctions resulting in constant vehicle production and strong sales which is likely to continue over the next few years.