LT Foods launched the ‘Daawat’ (ranked #2 among basmati rice brands in India) brand in 1985 and was founded by the Arora Family in the 1950s. The company is now a leading branded speciality rice player with a combined capacity of 82 TPH capacity across 5 manufacturing facilities and 2 packaging facilities in the US.
LT foods is placed in a prime position as the company continues to fulfill the global demand for its “Daawat” Basmati with #1 and #2 market position in 7
Countries including India & US.
Today the company is present in over 60 countries with a strong brand and product base. India consumed 97mn MT i.e. 20% of global rice consumption while the Global rice consumption in 2014-15 was estimated to be 483mn MT valued at $240 billion. Market Share of Daawat in Branded rice market in India improved from 11.9% in 2010 to 17.9% in 2015.
The company also has a JV with Kishore Biyani’s Future Group for sourcing, manufacturing, marketing, sales, and distribution of regional rice like sona masoori rice/ south Indian rice.
The company reported a Net Profit of Rs. 72.4 crore for the year ended 31-Mar-16 against 76.4 for the year ended 31-Mar-15 (complete results here).
PMS Equity Intelligence headed by Ace Investor Porinju Veliyath purchased 438,011 shares representing 1.64% of the share capital. This stake was sold by India Agri Business Fund which held 3,776,253 shares representing 14.16% of the share capital as of 31-Mar-16.
Source: Investor Presentation
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