LTFOODS
Large CapLT Foods Limited
Consumer
LT Foods is a global food FMCG company with 70+ years of experience, operating in 85+ countries. It owns leading brands like DAAWAT and Royal, specializing in Basmati & other specialty rice, organic foods, and ready-to-heat/cook products. The company focuses on sustainable growth and operational excellence.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Mixed fundamentals, management trust is supportive, price trend is neutral, and recent execution is consistent.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/6 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Bad · 0/100PAT -16% YoY · margin compression · Rev +30% YoY
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹2,907 Cr | +30.5% | +3.5% |
| EBITDA | ₹267 Cr | +3.5% | -15.0% |
| Operating margin | 9.0% | -300 bps | -200 bps |
| PAT | ₹136 Cr | -15.5% | -13.4% |
| PAT margin | 4.7% | -255 bps | -91 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Where growth can come from, and what can break the case
FY26 revenue grew 19% (normalized), driven by Basmati segment. Q4 revenue up 13% (normalized), but EBITDA declined due to accelerated brand investments, organic segment remodeling, and one-time US inventory/tariff costs. PAT for Q4 also declined.
The core Basmati business shows robust growth and market leadership, supporting the overall annual performance. While Q4 profitability was impacted by strategic investments and one-off costs, these are largely explained. The company is addressing capacity constraints in RTH and challenges in the organic segment, indicating a proactive approach to growth levers.
Revenue Share by Segment (12M FY26)
Latest issuer-disclosed distribution across 3 reported categories.
Basmati & Other Specialty Rice
Strong demand across geographies, #1 Basmati brand in North America and Canada, #2 in India, with 12% volume growth in 12M FY26.
Ready-to-Heat & Ready-to-Cook (RTH & RTC)
Portfolio grew ~2.5x over FY21–FY26, driven by innovation and strong consumer traction for convenience-led food solutions.
Global Footprint Expansion
Presence in 85+ countries, with strategic priorities to widen distribution channels and enter newer geographies.
Premiumization & Innovation
New launches target health, premiumization, and global taste trends; dual certification for organic products builds consumer trust.
RTH Capacity Expansion
Enhanced capacities for the Ready-to-Heat platform are expected to become operational from the second quarter.
Organic Infrastructure Build
Capacity expansion and infrastructure build in Europe for the Organic Foods & Ingredients business.
Increasing Global Shift to Health-Conscious Food
Organic Foods & Ingredients business is well positioned to benefit from this increasing global trend.
Growing Demand for Convenience Food
RTH & RTC portfolio continues to witness strong consumer traction, driven by rising demand for convenience-led solutions.
Growth in Basmati & Specialty Rice Market
Expected industry CAGR of 10-12% in India and North America, and 9-10% in the Middle East.
Growing South Asian Diaspora
Fuels Western market demand for Basmati and Specialty Rice, supporting international growth.
Increased Brand Investments
Accelerated brand investments impacted EBITDA margins in both 12M and Q4 FY26.
Organic Segment Remodeling & One-time Costs
FY26 performance of the Organic business was impacted by initial investments for CPG scaling and legal costs related to CVD.
US Tariff & Inventory Cost
One-time inventory/tariff cost in the US impacted Q4 FY26 EBITDA.
Legal & Regulatory Risks (CVD)
Company filed an appeal against the final CVD order of 75.48% on organic soyabean meal exports to the United States.
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The investor presentation explicitly compares 12M FY26 to 12M FY25 and Q4 FY26 to Q4 FY25. This year-over-year comparison is crucial for understanding performance trends in a consumer business that may experience seasonal variations.
Revenue Growth (Normalized)
Positive, but Q4 growth rate slowed.19% for 12M FY26 (excluding US Tariff); 13% for Q4 FY26 (excluding US Tariff).
Gross Profit % (Normalized)
Stable.35.3% for 12M FY26 (Excluding US Tariff & change in Shipment Terms); 36% for Q4 FY26 (Excluding US Tariff & change in Shipment Terms).
EBITDA % (Normalized)
Declined due to increased brand investments and strategic initiatives.11.8% for 12M FY26 (Excluding US Tariff); 11.1% for Q4 FY26 (Excluding US Tariff).
Basmati Volume Growth
Strong growth.12% for 12M FY26; 13% for Q4 FY26.
Solidifying Core Business
Management aims to further solidify the core Basmati business and widen distribution channels.
Expanding Product Portfolio & Geographies
Strategic priorities include expanding the product portfolio, entering newer geographies, and exploring inorganic opportunities.
Driving Premiumization & Margin Expansion
Focus on building economies of scale, adding efficiencies across the value chain, and driving premiumization.
Digital Transformation & Capability Building
Investing in digital transformation and building people skills and talent pool to enhance agility and efficiency.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Organic Segment Performance | FY26 performance impacted by investments and one-time factors. | Normalization of performance over the coming quarters, as underlying demand fundamentals remain strong. |
| RTH Capacity Ramp-up | Growth opportunities could not be fully serviced due to capacity constraints. | Enhanced capacities becoming operational from Q2 and their impact on RTH & RTC segment growth. |
| CVD Legal Outcome | Final CVD rate of 75.48% on organic soyabean meal exports to US. | Outcome of the company's appeal against the final order in CIT. |
| Brand Investment Impact on Margins | Increased brand investments impacted EBITDA margins in FY26. | Evidence of margin recovery as these investments translate into market share gains and revenue growth. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Show extracted source claims
The company is expected to achieve an EBITDA Margin of +14% in the next 4 years.
"expected to achieve EBITDA Margin of +14% in the next 4 years"
Digital Transformation is expected to drive 1.5X ~ 2X BUSINESS VALUE.
"drive 1.5X ~ 2X BUSINESS VALUE"
The company aims to increase the revenue mix of New Product Development (NPD) from 2% to 7%.
"Increase revenue mix of NPD from 2% to 7%"
The Basmati and Speciality Rice business in Continental Europe + UK has a 5-years revenue target of £100 million.
"5-years revenue target of £100 million"
The Global Green acquisition is expected to enhance competitiveness, margins, and long-term growth potential.
"Enhances competitiveness, margins, and long-term growth potential"
The final determination under the Countervailing Duty (CVD) concerning Ecopure Specialities Limited is expected by November 17, 2025.
"expected by November 17, 2025"
Trend score and candlestick chart
52NeutralSMA20 +2.6% / mo
Technical chart
LTFOODSdaily · 6M-3.0%Technical trend read
Bearish setupTrend is weak — long-term trend unclear. RSI 36.
- SMA20 falling (~6.5% over last month) — short-term momentum negative.
- RSI(14) at 36 — falling, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 20% off 52W high · 13% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation, score drivers, trust methodology, financials, and peers
Use these sections after reviewing the decision summary, latest result, thesis, management accountability, and technical timing above.
Fundamental score breakdown
FAIR VALUEWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 73.2%.
- Balance sheet contributes 11/15 to the score.
Main drags
- Quality is weaker at 8/20; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
- Growth is weaker at 14/25; verify the latest quarterly trend.
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Claim history is still being built. It ranks around the 90th percentile of the scored universe and 91st percentile within Consumer. No major sub-score weakness stands out.
High Trust Lite: Promoter pledge is zero.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · Consumer: 91st pctile, median 67 · Large: 74th pctile, median 74
161 documents indexed, but claim history is not strong enough yet.
6 claims extracted · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.5%.
- ▸8 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Intrinsic value
Fundamentals
Valuation
- P/E
- 20.70
- P/B
- 2.87
- EV/EBITDA
- 10.37
- Market Cap
- 12954.00Cr
Profitability
- ROE
- 14.90%
- ROCE
- 17.70%
- ROA
- 6.90%
- Dividend Y
- 0.80%
Growth (CAGR)
- Revenue 5Y
- 19.00%
- EPS 5Y
- 18.00%
- Revenue 3Y
- 16.00%
- EPS 3Y
- 16.00%
Balance Sheet
- Debt/Equity
- 0.36
- Interest Coverage
- 8.85×
- Altman Z
- 4.21
- Book Value
- 130.00
Cash Flow
- FCF Yield
- 0.50%
- FCF Positive Y
- 8/5
- OCF
- 910.00 Cr
- EPS TTM
- 18.01
Shareholding
- Promoter Hold
- 51.00%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 22%
Financial History
Updated 9/6/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.