NSE: LTFOODS · BSE: 532783
LT FOODS LIMITED
Sells branded basmati and specialty rice (88% of FY26 revenue), organic foods, and ready-to-eat/ready-to-cook (RTE/RTC) rice-based meals across India and overseas markets through brands including DAAWAT, Royal, and Golden Star. The core Basmati segment earns by selling milled, packaged rice to retail consumers in India (where it held 23.1% market share) and abroad, with North America at 49% YoY growth in Q1 FY27 and the Royal brand holding 60%+ share of US Basmati imports. The Organic Foods & Ingredients segment — which crossed Rs 1,016 cr in FY26 but is being remodeled from wholesale to a consumer packaged goods model — generated Rs 254 cr at a 4% EBITDA margin in Q1 FY27. The smaller RTE/RTC business (Rs 53 cr in Q1 FY27, up 13% YoY) sells biryani kits and ready meals, with a new US facility becoming operational and a UK target of GBP 100 million by 2030. The company is present in 85+ countries, with international markets accounting for 71% of Q1 FY27 revenue. Raw paddy is the biggest input cost at 63.5% of revenue, with inventory of 3.46 lakh tons at Rs 56/kg and 1.64 lakh tons at Rs 38/kg. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Basmati & specialty rice (88%), Organic Foods & Ingredients, Ready-to-eat / Ready-to-cook. Branded, asset-heavy agri-food FMCG with global distribution and a working-capital-intensive paddy procurement cycle
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 5,427 | 6,936 | 7,772 | 8,681 | 10,946 |
| EBITDA (ex other income) | 597 | 701 | 938 | 978 | 1,159 |
| margin % | 11.0 | 10.1 | 12.1 | 11.3 | 10.6 |
| Owners' profit | 292 | 423 | 593 | 605 | 0 |
| EPS, as reported (₹) | 9.13 | 12.50 | 17.09 | 17.43 | 18.01 |
| ROE % · ROCE % | 14.4 · 19.3 | 15.1 · 18.6 | 17.4 · 21.2 | 15.9 · 19.7 | 13.8 · 18.4 |
| Debt / equity (x) | 0.49 | 0.34 | 0.15 | 0.19 | 0.22 |
| Cash from operations | 517 | 258 | 757 | 434 | 1,411 |
| Capex | (158) | (154) | (203) | (239) | (360) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,108 | 2,275 | 2,228 | 2,464 | 2,766 | 2,809 | 2,907 | 3,152 |
| Profit before tax | 191 | 194 | 211 | 222 | 228 | 219 | 191 | 249 |
| Net profit | 151 | 145 | 161 | 169 | 164 | 157 | 136 | 183 |
| EPS (₹) | 4.27 | 4.13 | 4.62 | 4.85 | 4.72 | 4.53 | 3.91 | 5.28 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| LT FOODS LIMITED ◆ | 13,296 | 20.8 | 2.94 | 11.3 | 13.8 | 16.0 | 18.7 | 11.5 |
| KRBL LIMITED | 8,012 | 10.6 | 1.38 | 8.3 | 11.2 | 14.7 | 8.8 | 24.9 |
| GUJARAT AMBUJA EXPORTS LT | 6,614 | 15.9 | 2.01 | 12.4 | 9.2 | 11.7 | 4.0 | 17.0 |
| KAVERI SEED CO. LTD. | 3,616 | 14.6 | 2.06 | 9.8 | 16.9 | 17.0 | 6.1 | 40.1 |
| TRUALT BIOENERGY LIMITED | 3,233 | 23.0 | 2.05 | 12.7 | 6.1 | 4.8 | — | 23.5 |
| INDRAYANI BIOTECH LTD. | 2,966 | 22.3 | 29.05 | 217.6 | 1.9 | 0.2 | 45.6 | 8.2 |
| AMIR CHAND JAG KUM (E) L | 2,165 | 20.7 | 2.34 | 12.7 | 11.2 | 14.8 | — | 9.5 |
| SANSTAR LIMITED | 1,839 | 54.6 | — | — | — | — | — | 8.8 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 20.8 | 12.6 | 41 of 53 | 23% |
| P/B | 2.9 | 1.5 | 42 of 51 | 18% |
| ROCE | 16.0 | 4.1 | 16 of 67 | 77% |
| ROE | 13.8 | 3.5 | 11 of 51 | 80% |
| Debt / Equity | 0.2 | 0.4 | 24 of 51 | 54% |
| EBITDA margin | 11.5 | 9.7 | 20 of 45 | 57% |
| Revenue growth | 27.9 | 10.3 | 13 of 51 | 76% |
| Profit growth | 8.9 | 16.6 | 29 of 51 | 44% |
| Market cap | 13296 | 62 | 1 of 69 | 100% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · LT Foods Q2 and H1 FY27: 22% revenue growth, lower margins | investor communications | medium | — | — |
| 27 Oct 2026 · LT Foods posts strong H1 FY27 growth despite lower margins | compliance | minimal | — | — |
| 27 Oct 2026 · Q2 revenue up 16.9%, profit up 10.0%; half-year revenue up 22.1% | results | high | — | — |
| 27 Oct 2026 · LT Foods Q2 FY27 results: revenue up 16.9%, profit after tax up 10.0% | results | high | — | — |
| 26 Oct 2026 · DAAWAT Rozana launches consistency campaign with Ranveer Brar | compliance | low | — | — |
| 22 Oct 2026 · Investor conference call scheduled for Q2 and H1 FY27 results | board shareholder meetings | low | — | — |
| 16 Oct 2026 · Board meeting on Oct 27, 2026 to approve Q2 FY27 results | results | low | — | — |
| 15 Oct 2026 · Wholly owned subsidiary renamed | business updates | low | — | — |
| 15 Oct 2026 · LT Foods gets Crisil ESG rating of 61 for FY25-26, strong category | business updates | medium | — | — |
| 7 Oct 2026 · Routine compliance filing: no demat requests in Q2 FY27 | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.