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.”

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