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

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.’

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LT Foods shares traded 3 percent higher on September 25 a day before its investor meet after chief executive Ashwani Kumar Arora said that he expects the health and convenience vertical to increase its contribution to the rice-processors revenue.

“We expect to get 8-10 percent of the total revenue from the convenience and health vertical in the next five years,” Arora said in an interview to PTI.

“The company achieved an impressive three-year compound annual growth rate (CAGR) of 30 percent, resulting in convenience and health segment contributing 2.5 percent to our overall revenue. Our year-on-year growth has surged by an impressive 36 percent in this segment,” he said according to the report.

The company markets a wide range of rice-based products through its three business verticals – basmati and other specialty rice segment, organic foods and ingredient segment, and the convenience and health segment.

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.’

At 12.30 pm on the NSE, the LT Foods stock was quoting at Rs 163.15 apiece, up Rs 4.95, or 3.13 percent.

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In its results for the April-June quarter, the company reported a 10.36 percent YoY (year-on-year) increase in revenue from operations at Rs 1,778 crore. Net profit for the quarter was up 44.21 percent YoY at Rs 137 crore. The operating profit margins for the quarter expanded by 200 basis points on a yearly basis to 12 percent.

LT Foods is engaged in the business of rice processing and distribution. The company markets a variety of basmati and non-basmati rice under its flagship brand, Daawat.

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