LTFOODS

L T Foods share price & financials

Price
₹383
Market cap
₹14.5k Cr
Sector
Fast Moving Consumer Goods
Calls analysed
7
Latest concall · Q1 FY27 · call held 31 Jul 2026

L T Foods Q1 FY27

Consolidated Revenue ₹3,161 cr +26%EBITDA ₹363 cr +20%EBITDA Margin 11.25% PAT ₹183 cr +9%

What went well

  • Consolidated revenue grew 26% YoY to ₹3,161 crores, with normalized growth at 19%, driven by strong demand across key geographies.
  • EBITDA increased 20% to ₹363 crores and PAT grew 9% to ₹183 crores, with EPS at ₹5.3 per share.
  • Core Basmati & Specialty Rice business delivered robust revenue growth of 34% YoY to ₹2,845 crores, maintaining a stable 13% EBITDA margin.

What to watch

  • EBITDA margins moderated from 12.1% to 11-11.5% primarily due to ongoing restructuring within the organic foods segment.
  • The Organic Food and Ingredient business experienced a temporary revenue decline and reported a low EBITDA margin of 4% due to business model remodelling.
Read the full call →

What L T Foods does

L T Foods is a global branded-foods company that processes, packages and markets Basmati and other specialty rice under brands including Daawat, Royal, Golden Star, 817 Elephant, Ecolife and Heritage, sold to retail and institutional customers across India, North America, Europe, the Middle East and other regions. It also runs an Organic Foods & Ingredients business exporting organic rice, flour, pulses/lentils and oilseeds sourced through a dedicated farmer-partner network, and holds a 30% stake in the European organic foods brand Leev. A smaller Ready-to-Heat & Ready-to-Cook segment sells convenience products such as meal kits, biryani kits and seasoned/flavoured rice for modern consumers.

Segments

  • Basmati & Other Specialty Rice
  • Organic Foods & Ingredients
  • Ready-to-Heat & Ready-to-Cook (RTH & RTC)
Countries with market presence
85+
Organic farmland under cultivation
110,000+ hectares
Farming families in organic supply network
80,000
Organic farming associations (ICS groups)
135
Dedicated organic agri-extension team
350
Global employee strength
2,800+
Headquarters Gurugram, Haryana, IndiaEmployees 2,800 (FY2026) Company website

Guidance record · Q1 FY27

what the last two calls moved 22 tracked 1 delivered 5 missed 16 open
  • Revenue Growth delivered said Q3 FY25 Promised: Overall year growth will be in the range of 12% to 13% Q1 FY27: The target period for this promise (FY26) has passed. The promise was achieved.
  • EBITDA Margin missed said Q1 FY26 Promised: 12.5% to 13% EBITDA margin Q1 FY27: The target period for this promise (FY26) has passed. The promise was missed.
  • ROCE at risk said Q3 FY25 Promised: Internal target is to take it to the range of 25%. Q1 FY27: ROCE was reported at 21.1%, which is below the revised target of 23%.

All 22 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 11.5%, net profit up 89.2% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue1,016 1,044 971 1,051 1,017 +0%1,063 +2%910 −6%1,172 +12%
EBITDA53 64 61 55 60 +13%101 +58%75 +23%116 +111%
Net profit61 62 38 37 71 +16%66 +6%69 +82%70 +89%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −3.4% 1Y

₹350₹400₹450Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 31 Oct 2025Q3 FY26 — 30 Jan 2026Q4 FY26 — 15 May 2026Q1 FY27 — 31 Jul 2026

1Y: ₹453.4 on 10 Sept 2025 → ₹438.1. High ₹472.75 (19 Sept 2025), low ₹337.25 (20 Jan 2026).

How the price took the results

close before → close after

Q1 FY27
+3.3%
31 Jul
Q4 FY26
−0.4%
15 May
Q3 FY26
+3.3%
30 Jan
Q2 FY26
+0.8%
31 Oct

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue fell 16.5% a year over 3 years, FY23 to FY26. Operating margin narrowed to 7.2%.

Year endingFY23FY24FY25FY26
Revenue₹6.9k Cr₹4.0k Cr₹4.1k Cr₹4.0k Cr
Operating profit₹700 Cr₹239 Cr₹256 Cr₹291 Cr
Operating margin10.1%5.9%6.3%7.2%
Interest₹83 Cr₹19 Cr₹20 Cr₹27 Cr
Depreciation₹126 Cr₹39 Cr₹39 Cr₹45 Cr
Net profit₹422 Cr₹159 Cr₹212 Cr₹243 Cr
Net margin6.1%4.0%5.2%6.0%
Cash from operations₹127 Cr₹77 Cr₹252 Cr₹211 Cr
Free cash flow₹80 Cr₹36 Cr₹208 Cr₹138 Cr
ROCE16.0%14.0%15.0%17.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹32 Cr₹32 Cr₹35 Cr₹35 Cr₹35 Cr₹35 Cr
Reserves₹934 Cr₹1.0k Cr₹1.5k Cr₹1.7k Cr₹4.2k Cr₹1.9k Cr
Borrowings₹382 Cr₹295 Cr₹47 Cr₹73 Cr₹1.8k Cr₹133 Cr
Other liabilities₹222 Cr₹551 Cr₹386 Cr₹583 Cr₹1.6k Cr₹978 Cr
Total liabilities₹1.6k Cr₹1.9k Cr₹2.0k Cr₹2.4k Cr₹7.6k Cr₹3.0k Cr
Fixed assets₹200 Cr₹226 Cr₹251 Cr₹263 Cr₹1.7k Cr₹342 Cr
Capital work in progress₹22 Cr₹11 Cr₹7 Cr₹8 Cr₹73 Cr₹21 Cr
Investments₹126 Cr₹123 Cr₹315 Cr₹312 Cr₹43 Cr₹467 Cr
Other assets₹1.2k Cr₹1.5k Cr₹1.4k Cr₹1.8k Cr₹5.8k Cr₹2.2k Cr
Total assets₹1.6k Cr₹1.9k Cr₹2.0k Cr₹2.4k Cr₹7.6k Cr₹3.0k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +3.62 pp while FIIs trimmed −1.94 pp. The shareholder count shrank 6% to 1,87,263.

Promoters
51.0%
FIIs
8.2%
DIIs
10.8%
Public
29.9%

Since Jun 2025

  • DIIs +3.62 pp
  • FIIs −1.94 pp
  • Public −1.66 pp

How it drifted, 12 quarters

Over this window the public fell from 37.9% to 29.9% — −7.9 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 51.0%, FIIs 6.0%, DIIs 5.1%, Public 37.9%.Dec '23: Promoters 51.0%, FIIs 5.7%, DIIs 5.1%, Public 38.1%.Mar '24: Promoters 51.0%, FIIs 5.1%, DIIs 4.1%, Public 39.8%.Jun '24: Promoters 51.0%, FIIs 5.9%, DIIs 5.7%, Public 37.4%.Sep '24: Promoters 51.0%, FIIs 8.0%, DIIs 5.8%, Public 35.2%.Dec '24: Promoters 51.0%, FIIs 9.3%, DIIs 5.9%, Public 33.8%.Mar '25: Promoters 51.0%, FIIs 9.8%, DIIs 6.2%, Public 33.0%.Jun '25: Promoters 51.0%, FIIs 10.2%, DIIs 7.2%, Public 31.6%.Sep '25: Promoters 51.0%, FIIs 10.1%, DIIs 8.3%, Public 30.5%.Dec '25: Promoters 51.0%, FIIs 8.9%, DIIs 9.6%, Public 30.4%.Mar '26: Promoters 51.0%, FIIs 8.7%, DIIs 10.3%, Public 30.0%.Jun '26: Promoters 51.0%, FIIs 8.2%, DIIs 10.8%, Public 29.9%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of L T Foods above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Raghuvesh Holdings Private Limited 9.61%unchanged
Salic International Investment Company 9.22%unchanged
Ashwani Kumar Arora 6.95%unchanged
Ashok Kumar Arora 6.62%unchanged
Vijay Kumar Arora 6.62%unchanged
Surinder Kumar Arora 6.29%unchanged
Gurucharan Dass Arora 6.13%unchanged
Bandhan Small Cap Fund Mutual fund5.88%+0.59 pp
DSP Value Fund Mutual fund3.21%−0.21 pp
Sakshi Arora 2.41%unchanged
Anita Arora 2.19%unchanged
Vandana Arora 1.75%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in LTFOODS

Filings to Aug 2026

0 new, 4 added, 1 trimmed, 0 sold out — net +0.04 L shares (+1.1%).

Held by funds
₹16 Cr
5 schemes
Biggest holder
Nippon India Nifty Smallcap 250 Index Fund
₹10 Cr · 0.3% of that fund
SchemeHoldingLast month
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund₹10 Cr+0.03 L
SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund₹5 Cr+0.01 L
Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund₹1 Cr+0.00 L
SBI Nifty 500 Index Fund SBI Mutual Fund₹0 Cr−0.00 L
SBI Nifty Small Cap 250 ETF SBI Mutual Fund₹0 Cr+0.00 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

4 added, 1 trimmed — net +3,940 shares (+1.1%)

Funds are sitting on
-1%
vs est. average cost
Held by funds
₹16 Cr
5 schemes · ≈ 0.10% of the company
Biggest holder
Nippon India Nifty Smallcap 250 Index Fund
₹10 Cr · 0.3% of that fund

Shares held by these funds +28%

Mar '25 3.60 L shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹438, this stock must grow earnings at 38% every year for 7 years. Our analysis caps realistic growth at ~-22%. At that growth it is worth ₹19 — downside of 96%.

Growth the price implies
37.8% a year
for 7 years, fading to 4%
It has actually compounded at
-21.5% a year
net profit, FY23–FY26 · EPS -21.7%
The gap
0.6 pp
-96% downside if it only repeats history
Price today ₹438.1 Value at the reference growth ₹19.18

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse L T Foods

Guides on how to read this kind of business and the numbers that matter.