Transcript of Analyst/Investors Conference Call for the quarter and financial year ended March 31,2026.
LTFOODS · price
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LT Foods reported FY26 revenue of INR 11,023 crores, up 26% YoY, with PAT of INR 625 crores. Normalized revenue growth was 19% excluding U.S. tariffs. EBITDA margin moderated to 11.8% due to U.S. tariff impacts, higher brand investments, UK investment phase, and organic segment restructuring. The company maintained strong operational discipline with working capital days improving to 176 from 196 days. Basmati and specialty rice (88% of revenue) delivered 21% normalized growth. India business grew 10% in value with premium segment growing at 2x the overall rate. North America contributed 48% of revenue with 9% normalized growth excluding tariffs. Management guided for 10%-12% long-term growth and expects EBITDA margins to recover to 12% level as brand investments normalize and scale benefits materialize.
The company's strong revenue growth demonstrates resilient demand despite headwinds from U.S. tariffs and geopolitical issues. The guidance for margin recovery to 12% and continued double-digit growth suggests improving profitability trajectory, which could be positive for the stock. However, near-term margin pressure from higher input costs and strategic investments may limit upside in the short term.