Vitana Food Industries approves 100 percent capital increase

Vitana Food Industries held its annual general meeting with 62.5 percent shareholder participation. During the assembly, shareholders approved a 100 percent capital increase amounting to 700 billion tomans, sourced from accumulated profits. This figure was adjusted from an initial board proposal of 770 billion tomans.

The company's CEO reported achieving a pre-tax profit of one trillion tomans during the first nine months of the year, meeting a previously stated goal. The company is currently focusing on health-oriented product lines through brands such as Delato and Chayutira, while its subsidiary, Ghancheparvar, has begun exporting products to neighboring countries.

Management noted significant challenges regarding rising raw material costs. Specifically, the price of flour rose from approximately 25,000 tomans to over 75,000 tomans, sugar increased from 42,000 to 108,000 tomans, and industrial shortening oil rose from 85,000 to 360,000 tomans. These rising costs continue to impact liquidity within the food production industry.