Based on the latest statistics issued on financial statements of Iranian companies, IKCO was dubbed Iran's richest industrial company.

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.

Following IKCO, stood MAPNA and SAIPA 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.

(Sourced from zawya.com)