Ten Iranian economic giants introduced

Ten Iranian economic giants introduced
ID : N-1305 Date : 2018/02/20 - 09:40

(Persia Digest) – The list of top 500 commercial and industrial enterprises in Iran has been announced. The sales figures for the first top 100 in 2017, based on last year's financial data, was tomans 549BN, showing a growth of 17.7% as compared to a similar period last year for the same companies.

As reported by “Donya-ye Eghtesad” newspaper, the first 10 companies on the list have a sales figure 18 times larger than the figure for the 10 companies at the bottom of the list. The first top 15 companies also have sales equivalent to 49.9 percent of the total sales figure for the top 100 companies on the list, showing the degree of centralization in major Iranian companies.

According to this year's ranking, the top 10 companies are Mellat Bank (Holding), Persian Gulf Petrochemicals (Holding), IKCO Automotive (Holding), Parsian Bank (Holding), Isfahan Refinery, Tejarat Bank, SAIPA Automotive (Holding), Parsian Oil & Gas (Holding), Refah Kargaran Bank (Holding), and Ayandeh Bank (Holding).

In the Iranian economy, as in many developing economies, prices are not a true indication. Various subsidies, monopolies, government intervention in market prices, and other such instances cause a price disequilibrium and, thus, are not a true indication of the company growth.

The 500 list is a general list of companies in Iran and includes manufacturers, services, insurance, investment companies, and banks. In order to homogenize sales figures, the total operating income of companies is included. The total combined and unearned incomes are used for banks. In the case of insurance companies, the total insurance income and income from investments are considered.

Once the companies have been ranked based on their “sales volumes”, they are divided into groups of 100. Companies in each category are then compared and ranked based on 32 other indicators, bringing companies closer together in size and narrowing the variety of companies that are being compared.

These include company size and growth, profitability and performance, productivity, exports, liquidity, debt, and market indicators.

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