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LT Foods Consolidated September 2023 Net Sales at Rs 1,977.79 crore, up 14.67% Y-o-Y

LT Foods Standalone September 2023 Net Sales at Rs 1,035.73 crore, down 1.93% Y-o-Y

The government is likely to bring down the floor price (minimum export price (MEP)) for basmati rice, to $950 per metric tonne from $1,200 a metric ton.

KRBL, LT Foods gain on reports of likely cut in rice export floor price

The convenience and health segment which is a new addition to its business set-up entails products such as ready-to-eat ‘Daawat Cuppa Rice,’ ‘Daawat Biryani Kits,’ and rice based snacks marketed under the brand name ‘Kari-Kari.’

LT Foods gains 3% on bullish outlook for convenience segment revenue

The Government of India on Sunday issued a notification setting the minimum export price of Basmati Rice at $1200 per ton. Any export below this limit will be placed on hold and evaluated by a committee formed by the government.LT Foods said it primarily exports premium and aged rice under its trusted brands, DAAWAT and Royal, which are priced above the minimum export price limit of $1200 per ton. Therefore, LT Foods remains unaffected by the new export regulations.LT Foods is a 70-year-old Indian-origin global FMCG company in the consumer food space. It is a leading player globally in the speciality rice and rice-based foods business. The company sells its products in more than 65 countries across India, the U.S., Europe, the Middle East, the Far East and the rest of the world. LT Foods reported 44% jump in net profit to Rs 137 crore on a 10% increase in total revenue to Rs 1,789 crore in Q1 FY24 as compared with Q1 FY23. While EBITDA improved by 27% YoY to Rs 224 crore, EBITDA margin rose by 167 bps YoY to 12.5% in the first quarter of FY24. 

LT Foods jumps after clarification 

 L T Foods announced that with reference to the notification issued by Government of India, wherein minimum export price of Basmati Rice has been set as $1200 per ton and export below the said limit will be put on hold and evaluated by a Committee being formed by the Government, in this regard the company wish to clarify that the said limit does not have any impact on the exports for LT Foods (Company) as the Company mostly export premium and aged rice in its own trusted brands i.e. DAAWAT and Royal, export price of which is mostly over and above the said minimum export price limit. 

L T Foods unaffected by govt's minimum export price limit for basmati rice 

The government has announced a 20 percent export duty on parboiled rice as well as additional measures to curb outbound shipments of restricted varieties.

Rice stocks trade mixed after govt imposes curbs on exports

LT Foods Consolidated June 2023 Net Sales at Rs 1,778.08 crore, up 10.36% Y-o-Y

LT Foods Standalone June 2023 Net Sales at Rs 959.30 crore, down 8.54% Y-o-Y

LT Foods Standalone March 2023 Net Sales at Rs 928.35 crore, up 7.03% Y-o-Y

LT Foods Ltd. operates as a holding company, which engages in the manufacture and storage of rice products. The firm's brands include Daawat, Royal, Daawat Brown Rice, Ecolife, Devaaya and Kari Kari. Its rice product portfolio comprises of brown rice, white rice, steamed rice, parboiled rice, organic rice, quick cooking rice, value added rice, and flavored rice in the ready to cook segment. The company was founded by Vijay Kumar Arora on October 16, 1990 and is headquartered in Gurgaon, India.

Watchers	162
52-Wk Low	90.00
52-Wk High	220.20

Market Cap	75.54B
Volume (M)	3.73M
52-Wk High	220.20
52-Wk Low	90.00

DAAWAT.NSE LT Foods Ltd.

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