Page 2 - Lt Foods

No impact on company's basmati exports from price limit: LT Foods

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, ICAR-NCIPM ink initial pact to give sustainable farming training

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 .

LT Foods Q1 net profit rises 44% to Rs 137.4 cr on improved margins

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

LT Foods is eyeing Rs 11.5K-crore revenue in 5 years: CEO Ritesh Arora

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 reports profit of 75% due to strong demand in March quarter

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

Chaman Lal, KRBL: Firm demand to keep rice shares steaming, say analysts

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

LT Foods raises Rs 390 cr by selling shares to SALIC via private placement

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

LT Foods surges 4%, hits new high on fund raising plan; up 12% in 3 days

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

Export ban, duties to weigh on rice mill stocks in near-term, say analysts

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.

LT Foods surges 14% in two days on heavy volumes; stock nears 52-week high

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

LT Foods Q4 net profit rises 2% to Rs 60 cr; stock falls 10%

Expenses were lower at Rs 1,058.12 crore as against 1,132.89 crore a year ago.

LT Foods' stock gains over 2% after ratings upgrade on bank loan facilities

The credit ratings agency said that the upgrade reflects continuous improvement in group's business and financial risk profiles

LT Foods hits new high; stock trades ex-stock split

The stock hit a new high of Rs 51, rallied 96% in past three months from Rs 26 on November 7, 2016.

LT Foods hits new high on fixing record date for stock split

The company fixed February 08 as record date for the purpose of sub division of shares from Rs 10 to Re 1.

LT Foods rallies on acquisition of 817 Elephant rice brand

The stock surged 8% to Rs 307 after the company said it has acquired iconic brand 817 Elephant brand of rice through its UK subsidiary LT Foods International Limited.

LT Foods to challenge insurance claim rejection

Oriental Insurance had rejected the Rs 189 cr claim arising out of a fire at LT's Madhya Pradesh mill in 2014

LT Foods surges on acquisition of HUL's rice business

The stock surged 17% to Rs 260 on the BSE on back of heavy volumes.