Latest news with #Daawat
Mint
2 days ago
- Business
- Mint
Forget gold, Dalal Street's new obsession is rice!
The timely revival in this year's monsoon showers not only promises plentiful paddies but has also sparked a frenzy among investors eyeing robust returns from rice and agrochemical players. With a notable boost from rising rice acreage, companies like LT Foods Ltd (owner of the Daawat basmati rice brand), Mishtann Foods Ltd, and KRBL Ltd have emerged as top gainers, outperforming broader market indices. Green shoots As of 18 July, India's rice sowing hit 17.7 million hectares, a 12.4% jump from a year ago, reaching a three-year high, according to data from the Centre for Monitoring Indian Economy. Overall kharif or monsoon crop acreage reached 70.8 million hectares, covering nearly two-thirds of the typical season's area and indicating a broad-based improvement following an inconsistent start to the season. The area sown is 4.1% higher than in the corresponding period last year. The rapid progress in rice sowing is particularly striking as farmers expanded rice acreage by 5.3 million hectares between 11 and 18 July. This marks the second-highest week-on-week gain this kharif season, trailing the 5.4 million hectares added between 4 and 11 July. Two consecutive weeks of such substantial gains signal healthy progress and a strong outlook for rice this season. From paddy to profits This surge in rice acreage has ignited a wave of optimism on Dalal Street, driving robust double-digit returns for a select group of rice and agrochemical stocks since the monsoon's onset in June. Some rice segment players have shown significant outperformance, dwarfing the Nifty 50's modest 0.3% rise from 30 May to 25 July. The Nifty Rural index is up 1.6% while the Nifty FMCG is down 1.3%. MCX Gold advanced 3.14% over the same period. Among top gainers, GRM Overseas Ltd soared 26%, Mishtann Foods Ltd climbed 25.3%, and Sarveshwar Foods Ltd rose 11.5%. LT Foods and KRBL rallied 11% and 10.6%, respectively. However, Chaman Lal Setia Exports Ltd and Kohinoor Foods Ltd declined 3.7% and 7.5%, respectively, highlighting investor preference for companies boasting strong fundamentals, export capabilities, and brand visibility. Parallelly, the momentum extended strongly to other agri and allied segment stocks. Companies such as Best Agrolife Ltd, Astec LifeSciences Ltd, Jubilant Agri and Consumer Products Ltd, Heranba Industries Ltd, Meghmani Organics Ltd, and Bharat Rasayan Ltd posted stellar returns ranging between 16% and 42% over the same period, underscoring broader bullish sentiment in agri-input plays amid expectations of a bumper kharif season. Growth drivers According to Prashanth Tapse, senior vice president and research analyst at Mehta Equities, the rally is underpinned by real improvements in fundamentals. 'The surge in kharif rice sowing—strongest in three years—signals a healthy production outlook for FY25," he said. Tapse added that India, which accounts for around 40% of global rice exports, is well-positioned to benefit from higher global prices and volumes. 'Export-led, branded players like KRBL and LT Foods are best placed to capture this demand, with margin improvements and earnings growth likely in the medium term," he said. 'Such companies have sustainable, high-margin business models well-suited to capitalize on the current global rice demand and policy support." Bhavik Joshi, research analyst at INVASSET PMS, added that brand strength and operational execution are becoming key differentiators. 'Companies like LT Foods, with both a strong domestic footprint and deep export presence, are standing out. The India-UK FTA, which allows 95% of Indian agri exports duty-free access, further boosts their long-term prospects. The market is clearly distinguishing between commodity players and branded agri exporters with global ambitions," Joshi said. He, however, added that while fundamentals are 'clearly supportive, especially the 12% year-on-year jump in kharif paddy acreage", the 'sharp rally in low-float names also hints at speculative positioning ahead of earnings". Joshi cautioned that for the rally to sustain companies must deliver on margin and volume expectations. 'Otherwise, gains could reverse as quickly as they came," Joshi said. Recent shareholding data reveals a low public float (free-float shares excluding promoter holdings) in some firms. As of June, promoter and promoter group shareholding stood at 74.1% in Chamanlal Setia, 60.2% in KRBL, 51.4% in Sarveshwar Foods, 51% in LT Foods, 43.48% in Mishtann Foods, and 37.67% in Kohinoor Foods. Promoter holding in GRM Overseas was 70.8% as of May, the latest data available with Capitaline showed. Monsoon revival key Following a sluggish start to the season in early June, India's monsoon has staged a significant comeback. Although recent weeks have seen more scattered rainfall, causing some concern for rain-dependent areas, the broader outlook remains robust. As of 23 July, cumulative rainfall was 389.1 mm, 5% above normal, signifying a largely satisfactory national monsoon performance so far this season. About 84% of India has received normal to excess rainfall (49% normal, 35% excess or large excess), with only 16% experiencing deficient conditions. No region is in severe monsoon deficit. 'While overall sowing surpasses last year's figures and water reservoirs hold strong, the coming weeks will be pivotal in assessing the complete impact on agricultural output, food security, and rural economic vitality," PL Capital said in a recent report.
News18
5 days ago
- Business
- News18
LT Foods Q1 profit rises 8.5 pc to Rs 168.5 cr
Agency: PTI New Delhi, Jul 24 (PTI) FMCG firm LT Foods Ltd on Thursday reported an 8.5 per cent increase in consolidated net profit to Rs 168.50 crore during the June quarter, led by increase in margins and distribution expansion. It had reported a net profit of Rs 155.28 crore in the year-ago period, according to a regulatory filing from LT Foods Ltd, which owns basmati rice brands — Daawat and Royal. Its revenue from operations was up 19 per cent to Rs 2,463.91 crore in the June quarter of FY26 from Rs 2,070.50 crore a year ago. Total expenses for LT Foods were Rs 2,278.84 crore, up 20.5 per cent in the first quarter of the ongoing fiscal year. LT Foods' total income, which includes other revenue, was at Rs 2,500.98 crore up 19.17 per cent in the June quarter. Commenting on the results, Managing Director & CEO Ashwani Arora said, 'In Q1 FY26, we delivered yet another solid performance with revenues touching Rs 2,501 crore, up 20 per cent year-on-year, and EBITDA growing 17 per cent to Rs 302 crore." Shares of LT Foods Ltd on Thursday settled at Rs 491.15 on the BSE, up 0.73 per cent from the previous close. PTI KRH TRB Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
The Spinoff
18-07-2025
- Business
- The Spinoff
A handy guide to shopping at the Indian supermarket
With prices continuing to rise at the big supermarkets, Perzen Patel offers some tips for Indian grocery shopping. The other day, I mentioned to some friends that I haven't stepped foot in a big supermarket in almost a year. I only do one click and collect Pak'nSave order a month. For the rest, there's my weekend ritual. Every Saturday, after the kids finish their sport, we swing by our local butcher – Pakistani, Indian or Asian – for meat. And once that's done, we head to our local Indian grocery store. We don't go there for the frozen naan or the Frooti (mostly). Nor do I go for 'Indiany' vegetables – though a bottle of chutney or achaar often sneaks into the trolley. No, I head to the Indian shop for basics. Milk. Eggs. Yoghurt. Rice. Most of my friends think of the Indian shop in the context of stocking up for curry night. And many I know avoid it altogether because yes, it can be overwhelming. The shelves are jammed, the aisles narrow and most of the packaging is unfamiliar. The bright white tube lighting is my pet peeve though I do enjoy the loud Bollywood hits from the 90s as I roll around my squeaky trolley. But here's the thing: in the middle of a cost of living crisis, your local Indian grocer is one of the best places to do your everyday shop. Especially when garlic feels like a luxury item now and the doctor tells you to eat more nuts and seeds without checking what they cost at the supermarket! At almost all Indian stores, you'll find several options for cheap milk and yoghurt. This is partly because most shops are owned by Punjabis, who buy several litres of milk a week to make paneer and various other goodies. But it's also because for us Indians, yoghurt isn't some new age fermentation superhero. We add yoghurt everywhere – salads, cereals, smoothies, marinades, curries and for lassi, of course. In my trolley weekly is four bottles of blue milk – 2x two litre bottles for $6.80 – and a 2kg tub of yoghurt that's normally about $7. Next up is rice. I never buy the tiny bags from the big box stores mostly because it wouldn't last longer than three days in my rice-loving household. At the Indian shop there's as many rice varieties as wines at New World. I'm partial to the Royal India or Daawat brand that have 5kg bags ranging from $12-$20 depending on the grain length and age of the rice. And then there's garlic. In my opinion, fresh garlic can be saved for the cooking shows. Woolworths sells one tiny bulb for $2.90 which is criminal and I can't be faffed with all the peels sticking to my fingers either. Instead, my go-to is Reet's ginger and garlic paste. A kilo tub is $5.49 and allows me to make everything I cook taste deliciously garlicky and gingery. Occasionally, I'll buy frozen, pre-peeled garlic cloves ($3.40) for dishes where only sliced garlic will do. Ghee is another win. These days, you can easily find jars of Gopala ghee at mainstream supermarkets for about $20, but at the Indian shop there's an entire shelf of different brands, types and tins. You can experiment with a tiny tub of New Zealand made Milkio ghee, there's the super cheap tin of Amul ghee for everyday dal and soup and also the giant 4kg or 8kg tubs you might want to gift the keto fanatic in your life. And while you're there, you might as well stock up on eggs too. You won't find them categorised by size or chicken origin but you can't go wrong with 30 eggs for $20. Especially if your house like mine is filled with boys who go through six eggs a day! For some of you maybe my everyday basics soliloquy didn't resonate. You're welcome to continue buying eggs, milk, rice and whatnot from the big box stores. But there are some categories for which it would be an absolute crime to do so. Nuts are the prime example. At Woolworths, a 250g mixed-nuts bag, loaded with peanuts and a sad sprinkling of almonds, can easily set you back $10 (or $40/kilo). But at the Indian store, almonds, walnuts, pistachios and cashews come in generous 500gm or kilo bags starting at about $24/kilo. When it comes to lentils and beans, it's more about the lack of variety. My doctor recently told me to focus heavily on lentils and beans. And if I shopped at the big box stores I'd mostly be having chickpeas, cannellini beans, red and yellow lentils. Meanwhile at the Indian shop there's an entire aisle devoted to these beauties – chana dal, moong dal, masoor, urad dal, black chickpeas and so many more – all for about half the supermarket price. It's a similar story for spices. You could cook with the overpriced spice blends sold in tiny cardboard packets, complaining that your food doesn't taste like it does at restaurants. Or, you could purchase your spices at the Indian store where they taste and smell fresher and punchier. They are also cheaper. While a 40gm packet of turmeric is $2 at Pak'nSave, at the Indian shop you'll get 200gm for $3.50. It's the same-ish scenario for other spices like cumin, coriander, mustard seeds and chilli powder too. My favourite buy? A packet of Gaay's whole garam masala, which is essentially a mixed bag of bay leaves, cloves, cardamom, cinnamon and more. If you're a baking enthusiast, the Indian shop has you covered too. At Woolworths, cinnamon quills are like rare treasures priced at $4 for a measly 20gm. Meanwhile you could grab an 80 – 100gm packet of these for $5 at the Indian store – enough for you to add cinnamon everywhere from cake to scrolls to porridge. Every visit to the Indian store feels a bit like exploring my grandma's kitchen. During my last visit I found a shelf of ayurvedic health powders such as ashwagandha, beetroot and moringa to add to my smoothies. At $7 for 200gm, it's worth a try even if my skin doesn't magically become goddess-like in two weeks. And I always do a slow walk across the snack aisle where I'm bound to find a new type of poppadum or biscuit. Back in 2002, the Indian shop used to be the place I went to get a flavour of home. Stock up on spices or buy a packet of Haldiram chakli. Now, it's just where I buy food.
&w=3840&q=100)
Business Standard
03-07-2025
- Business
- Business Standard
Mukul Agrawal portfolio: Basmati rice stock zooms 76% from April low
LT Foods share price today Mukul Agrawal portfolio stock: LT Foods shares hit a new high of ₹509 on the BSE today, gaining 3 per cent in Thursday's intraday trade. The stock extended its previous day's 4-per cent up move aided by heavy volumes. Further, in the past eight trading days, the stock price of the company, which owns the flagship rice brand 'Daawat', has rallied 26 per cent after Iran and Israel announced ceasefire. With the recent rally in LT Foods, the market price of the stock has zoomed 76 per cent from its three-month low of ₹290, which it touched on April 7, 2025. Mukul Mahavir Agrawal portfolio stock Ace investor Mukul Mahavir Agrawal held 3.9 million equity shares, representing 1.12 per cent stake, in LT Foods at the end of the March 2025 quarter, as per the shareholding pattern. Mukul Agrawal, publicly, holds stake in Indo Count Industries, Deepak Fertilisers & Petrochemicals Corporation, Neuland Laboratories, Radico Khaitan, Nuvama Wealth Management, BSE, Onesource Specialty Pharma, and PTC Industries. LT Foods outlook LT Foods expects consolidated revenue of ₹10,000 crore in FY26 (including Golden Star consolidation expected in H2FY26) with Ebitda margin targeted at ~13 per cent. ROE, after acquisition synergies, is expected at ~20 per cent, while capex guidance stands at ₹340 crore, mainly for warehousing and Ready-to-Heat (RTH) facilities in the US. The US market remains resilient, with strong demand and no tariff impact. The tariff impact, if any, will be offset by lower input prices. In Europe, growth appears muted due to reporting changes (UK is now accounted separately). Meanwhile, LT Foods reported a healthy performance in FY25, led by both India and International markets. Going ahead, Motilal Oswal Financial Services expects this momentum to continue led by 1) improving volumes in the Basmati and Other Specialty Rice segment, 2) margin expansion supported by lower input prices and freight normalization; and 3) an increasing mix of Organic and Convenience & Health segments. "Basmati rice is a geographical indication product, grown only in certain parts of India and Pakistan, and is among the most expensive varieties globally due to which it only forms 2 per cent-3 per cent of the domestic consumption. However, with increasing disposable income and affluence, the demand for basmati rice is likely to increase over the medium term. We believe that the share of branded basmati is likely to increase over the medium term with higher brand consciousness, which augurs well for LT Foods," MOFSL said. The company generated around 30 per cent of its revenue from India and around 40 per cent from the US, commanding a leading position in these geographies, while the balance was from Europe, followed by the Middle East, East Asia, among others. About LT Foods LT Foods is one of the leading branded Basmati rice companies. It has been one of the most successful Basmati rice players in the US & EU markets. The company is amongst the few players in this space to invest behind setting-up a rice processing facility in Europe (Rotterdam) and a packaging unit with Ready to Heat facility in US. It has dominant market share of 50 per cent plus in US while in the Indian market it holds 30 per cent plus share. B2C Branded Basmati business under company's two flagship brands – a) 'Daawat' Basmati and its sub-brands in India and Overseas markets b) Its brand 'Royal' is No. 1 selling basmati brand in US and commands a 50 per cent plus market share.
Time of India
15-05-2025
- Business
- Time of India
LT Foods Q4 profit up 7% to Rs 161 crore, FY25 revenue crosses $1 billion mark
New Delhi: FMCG firm LT Foods Ltd on Thursday reported 6.83 per cent increase in consolidated net profit at Rs 160.51 crore for March quarter FY25, led by rise in margins and distribution expansion. It had reported a net profit of Rs 150.24 crore for the January-March period a year ago, according to a regulatory filing from LT Foods Ltd, which owns basmati rice brands Daawat and Royal. Revenue from operations was at Rs 2,228.36 crore in March quarter as against Rs 2,074.81 crore a year ago. Total expenses were at Rs 2,048.91 crore, up 7.9 per cent year-on-year. Total income, which includes other revenue, was at Rs 2,259.63 crore, up 8.02 per cent from the year-ago period. In FY25, LT Foods' net profit was up 2.37 per cent to Rs 611.80 crore, from Rs 597.59 crore a year ago. Total income rose to Rs 8,769.93 crore in the quarter, crossing the billion-dollar milestone. Its basmati and other speciality rice business in FY25 grew 10 per cent on a YoY basis on account of increased investment in brand and marketing, said LT Foods in its earnings statement. The Organic Food and Ingredients business recorded a 29 per cent growth, and its international business delivered a strong performance, with all key markets contributing to growth. Commenting on results, Managing Director & CEO Ashwani Arora said:"FY25 has been a landmark year for LT Foods, as we crossed the USD 1 billion revenue milestone-a strong reflection of our resilient business model, portfolio of food brands and deep consumer commitment. "Our resilient business model, focus on quality, and understanding of evolving consumer needs have helped us deliver a strong 12 per cent year-on-year revenue growth," he said. The board of LT Foods in a meeting held on Thursday recommended a final dividend of Re 1 per equity share of face value of Re 1 each for financial year 2024-25. Shares of LT Foods Ltd on Thursday settled at Rs 363.15 apiece on BSE, down 1.55 per cent from the previous close.
