FMCG firm LT Foods announced Q3FY23 results: Q3FY23: Total revenue at Rs 1,792 crore; up 31% YoY Gross Profit at Rs 571 crore; up 25% YoY EBITDA at Rs 179 crore; up 19% YoY Profit after tax at Rs 100 crore; up by 30% YoY Cash profit at Rs 132 crore; up 24% YoY 9MFY23: Total revenue at Rs 5,144 crore; up 31% YoY Gross profit at Rs 1,793 crore; up 36% YoY EBITDA at Rs 534 crore; up 17% YoY Profit after tax at Rs 291 crore; up 24%YoY Cash profit at Rs 383 crore; up 19% YoY EPS at Rs 8.58; up 24% YoY Book value per share at Rs 77; up by 18% YoY Commenting on the financial results, Managing Director & CEO, Mr. Ashwani Arora said that, “Despite a challenging environment, we are pleased to report healthy performance during the quarter. The Company has reported a growth of 31 percent YoY during the quarter across all three segments – Basmati & Other Specialty Rice, Organic, Health & Convenience. With a rich history of over seven decades in the Basmati rice industry, our India market share continues to increase and currently stands at 29.4% according to the AC Nielsen survey. On a YoY basis, the category climbed by 15.7%, while the number of homes eating Daawat rose by 39% to 40 Lakh households. We continue to strengthen and accelerate our core business while diversifying our portfolio and remain committed to focus our energies towards promoting efficiency across all our processes and systems and remain committed towards building a sustainable brand. In the effort to diversify our product basket, we have seen tremendous success with the launch of new products like Devaaya Weight Watcher, Black Rice-E-com First, and Biryani Kit. We are well placed to capture growth across all our business segments with the combination of our strong brand, global supply chain hubs, wide distribution network in India and across geographies. Our growth enablers, including HR transformation, digitization, building economies of scale, and ESG, are effectively being implemented to meet the organization's strategic goals. We are confident of continued improvement in our performance over the long term and LT Food’s ability to deliver consistent, competitive, profitable, and responsible Growth.” Result PDF
LT Foods announced Q1FY23 results: Total Revenue at Rs. 1,620 crore; up 32% YoY Gross Profit at Rs. 572 crore; up 36% YoY EBITDA at Rs. 176 crore; up 18.5% YoY Profit Before Tax stood at Rs. 130 crore; up by 26% Profit After Tax stood at Rs. 95 crore; up by 25% Cash Profit at Rs. 125 crore; up 19% YoY Commenting on the financial results, Managing Director & CEO, Mr. Ashwani Kumar Arora said, “We are pleased to report robust performance in Q1FY23 with a total revenue growth of 32% YoY aided by growth across all 3 business segments – Basmati & Other Specialty Rice, Organic, Convenience and Health segment across geographies. The Company’s strategic focus is to expand its business year on year via organic and inorganic routes and in this regard, during the year, the Company closed its transaction of acquisition of a 51% stake in Golden Star via its US subsidiary. This acquisition will help the Company to further strengthen its position and expand its share in the Specialty Rice market in North America. To further expand its product offerings, the Company keeps a close tap on evolving consumer trends and have launched products on the Convenience and Health platform such as Royal Ready-to-Heat (in the US), Daawat Cuppa Rice, Daawat Sauté Sauces, Daawat Biryani Kit and Kari Kari (Japanese Rice Snacks) and Daawat Sehat on the health platform and this portfolio has doubled in Q1 FY23 versus last year. These products will enable the organization to expand its margins in the medium to long term. The Company is also working extensively to grow its market share across geographies via strengthening and expanding the distribution network, increasing the brand re-call value via consumer engagements through various marketing initiatives. One such initiative was the World’s First Biryani Day celebrated on 3rd July, 2022, a day that provided an opportunity for all Biryani lovers to express their adoration for this dish. LT Foods facilitated the consumers to celebrate this day with its flagship variant Daawat Biryani and recently launched Daawat Biryani Kit. Giving back to society has always been an integral part of the Company’s ethos and taking this legacy forward the Company aims to grow responsibly and has embedded ESG (Environment, Social and Governance) in the organization’s framework. Going forward, we will continue to create value for all our stakeholders by delivering growth, margin expansions, further strengthening of financial metrics through optimal utilization of capital.” Result PDF