LT Foods

LT Foods stock has corrected 16 per cent from its 52-week high of Rs 447.95 reached on September 9, 2024, while soaring 134 per cent above its 52-week low of Rs 160.05 touched on March 14, 2024

The company reported a 8.4 per cent rise in its overall expenses, propelled by a 32.2 per cent rise in cost of its raw materials

The main markets for the company's organic range are Europe and America, which account for 85% of the brand's sales

LT Foods Ltd on Thursday reported a 13 per cent increase in consolidated net profit to Rs 155.28 crore for the first quarter ended on June 30, 2024. It had reported a net profit of Rs 137.44 crore for the April-June quarter a year ago, according to a regulatory filing from LT Foods Ltd, which owns basmati rice brands Daawat and Royal. Its revenue from operations was up 16.44 per cent to Rs 2,070.50 crore during the quarter under review compared to Rs 1,778.07 crore a year ago. Total expenses for LT Foods in the June quarter were at Rs 1,890.30 crore, up 16.54 per cent. LT Foods' total income was at Rs 2,088 crore in the June quarter, up 16.72 per cent from the corresponding quarter a year ago. Commenting on results, LT Foods Managing Director & CEO Ashwani Arora said, "Our premiumization strategy continues to yield significant results, driving higher margins and reinforcing our brand's reputation for providing quality products to consumers and continuously innovating ourselves to

Shares of FMCG firm LT Foods surged up to 4.54 per cent at Rs 293.15 per share on the BSE in Friday's intraday trade

Rice export curb: According to reports, the government may consider scrapping a 20 per cent tax on parboiled rice exports

LT Foods, owner of basmati rice brands 'Daawat' and 'Royal', on Friday posted a 14 per cent jump in consolidated net profit at Rs 150.24 crore for the fourth quarter of fiscal 2023-24 on robust sales. The company's profit stood at Rs 131.81 crore a year earlier. Total income rose to Rs 2,091.73 crore during the January-March quarter of 2023-24, from Rs 1,834.95 crore in the same period a year ago, the company said in a regulatory filing. Expenses remained higher at Rs 1,898.46 crore versus Rs 1,685.92 crore a year earlier. For the full fiscal year 2023-24, LT Foods reported a 41.35 per cent increase in net profit at Rs 597.59 crore, compared with Rs 422.75 crore in the previous year. Total income rose to Rs 7,822.05 crore from R 6,978.81 crore a year earlier. Commenting on the performance, LT Foods Managing Director Ashwani Arora said the company has delivered stellar growth in revenue and profitability for yet another year, despite facing a challenging external environment. The

LT Foods Ltd on Thursday reported 52.07 per cent rise in consolidated net profit at Rs 152.64 crore for the third quarter ended December 2023. It had logged a net profit of Rs 100.37 crore in the year-ago period, according to a regulatory filing by LT Foods, which owns basmati rice brands Daawat and Royal. Revenue from operations was up 9.17 per cent to Rs 1,941.72 crore during the quarter under review as against Rs 1,778.47 crore a year ago. Total expenses were up 5.46 per cent to Rs 1,757.67 crore. Total income was at Rs 1,949.68 crore, higher by 8.8 per cent from the corresponding quarter a year ago. Meanwhile, the board of LT Foods in a meeting held on Thursday, also approved issuance and listing of commercial papers for an amount of Rs 500 crore. Shares of LT Foods on Thursday settled at Rs 196.05 apiece on BSE, down 4.01 per cent from the previous close.

LT Foods Ltd on Monday reported a 64.86 per cent rise in consolidated net profit to Rs 157.26 crore for the second quarter ended September 30, helped by expansion in domestic and foreign markets. It had reported a net profit of Rs 95.39 crore for the July-September quarter a year ago, according to a regulatory filing by LT Foods Ltd, which owns basmati rice brands -- Daawat and Royal. Its revenue from operation increased 14.66 per cent to Rs 1,977.78 crore during the quarter under review. It was Rs 1,724.83 crore a year ago. The total expenses in the September quarter surged 11.94 per cent to Rs 1,792.33 crore. Its total income in the September quarter rose 15.02 per cent year-on-year to Rs 1,991.81 crore. LT Foods Managing Director and CEO Ashwani Arora said: "Our ongoing efforts to expand our presence in India and International markets have yielded substantial results, with our total business growing by 13 per cent during H1 FY24 and profit after tax (PAT) grew by 55 per cent".

LT Foods Ltd, which owns basmati rice brands -- Daawat and Royal, is looking at 'Convenience & Health' segment as a "growth enabler' for the company, as it targets up to 8 to 10 per cent revenue from this category in the next five years, its MD & CEO Ashwani Kumar Arora said. The company is leveraging existing brands and distribution strength for its ready-to-cook and ready-to-eat products in the Convenience & Health segment, a category where consumption has increased in Indian homes, particularly after the pandemic. "The goal is to take 8-10 per cent of the total revenue from the third vertical (Convenience & Health). Our target is the next five years," Arora told PTI. The Delhi-based company entered this segment around four years ago with the brand extension of Dawat in the US market and has subsequently extended it in the Indian market. "We have achieved an impressive 3-year Compound Annual Growth Rate (CAGR) of 30 per cent, resulting in this segment contributing ...

LT Foods Ltd on Monday said the government's decision to impose a minimum export price on basmati rice at USD 1,200 per tonne will not impact the company's outward shipments. In a regulatory filing, the company asserted that the price limit does not have any "impact on the exports for LT Foods Ltd as the company mostly export premium and aged rice in our own trusted brands i.e. DAAWAT and Royal, the export price of which is mostly over and above the said minimum export price limit." The government has decided not to allow exports of basmati rice below USD 1,200 per tonne to restrict possible "illegal" shipment of white non-basmati rice in the garb of premium basmati rice. In a statement on Sunday, the commerce ministry said it had directed trade promotion body APEDA not to register contracts below USD 1,200 per tonne. Existing contracts below USD 1,200 per tonne have been kept in abeyance. A committee under the chairman of APEDA will be set up to evaluate future courses of ...

LT Foods on Monday said it has signed an initial pact with the Indian Council of Agricultural Research-National Research Centre for Integrated Pest Management (ICAR-NCIPM) to train 10,000 farmers in four states on sustainable farming practices. As per the Memorandum of Understanding (MoU), the training would be provided to farmers in Haryana, Punjab, Uttar Pradesh and Madhya Pradesh, the company said in a statement. The farmers will be trained to make optimum use of resources like water, pesticides and fertilisers, to keep the agricultural process regenerative, and support the Environmental, Social and Governance (ESG) goals of reducing GreenHouse Gas (GHG) emissions and water consumption, it said. ICAR-NCIPM will prepare written content on the Integrated Crop Management (ICM) in rice as a component of Sustainable Rice Production (SRP) and provide consultancy in managing key pests and diseases in the crop. It will also help disseminate rice-ICM technology as a component of SRP to .

Consumer food company LT Foods on Friday clocked a 44 per cent jump in consolidated net profit at Rs 137.44 crore in the first quarter of the current fiscal, mainly on account of improved margins. The company had posted a net profit of Rs 95.16 crore in the same quarter a year ago. Total income in the June quarter increased to Rs 1,778.07 crore from Rs 1,611.10 crore in the year-ago period, according to a regulatory filing. Expenses remained higher at Rs 1,621.91 crore as against Rs 1,490.52 crore in the said period. The company said its core 'Basmati and other specialty rice' business increased during the quarter by 24 per cent on a year-on-year (y-o-y) basis due to higher investment in brand and marketing, along with subsequent gain in market share. Revenue from the health and convenience segment comprising Daawat Sehat, Royal Ready-to-Heat, Daawat Cuppa Rice, Daawat Saute Sauces and Kari Kari stood at Rs 41 crore in the June quarter. However, the company witnessed a decline in

Ritesh Arora, chief executive officer (CEO) - India and Far East Business of LT Foods, said that post-Covid consumers were more health and hygiene conscious

LT Foods also exports rice to more than 60 countries like the United States and in geographies such as Europe, the Middle East and the Far East

Analysts expect global and domestic rice demand to remain firm, which they believe, would keep the stock prices piping hot going ahead

LT Foods Ltd on Thursday said it has raised nearly Rs 390 crore by selling shares to Saudi Agricultural and Livestock Investment Company (SALIC) through private placement. In a regulatory filing, the company informed that its board has approved issuance and allotment by way of a preferential allotment on a private placement basis up to 27,408,164 equity shares at a price of Rs 142.23 per share for cash consideration of up to Rs 389.82 crore. The preferential issuance of 27,408,164 equity shares is equivalent to 7.89 per cent equity stake in LT Foods, at Rs 142.23 per share to SALIC, a Saudi Joint Stock Company that is owned by the Public Investment Fund of the Kingdom of Saudi Arabia. In addition, SALIC will acquire a 1.33 per cent equity stake through a secondary share purchase from the promoters group. "Post completion of this transaction, SALIC will hold a 9.22 per cent equity stake in LT Foods. The promoters of the company will continue to hold the majority equity stake of 51 p

The company's board will discuss future strategic plans, inter-alia, potential raising of funds, in their forthcoming meeting on Monday, October 31, 2022

Shares of LT Foods, Kohinoor Foods, KRBL, Chaman Lal Setia Exports, for instance, have declined in the range of 2 per cent to 9 per cent, as against 0.4 per cent gain in the Nifty50 index.

Ratings agency CRISIL believes organic business profitability of LT Foods should lead to higher consolidated EBITDA in the fourth quarter of 2022.