L T Foods Ltd

L T Foods Ltd

₹ 177 -2.26%
28 Feb - close price
About

LT Foods Limited was incorporated in the 1980's. It is primarily engaged in the business of milling, processing and marketing of branded and non-branded basmati rice and manufacturing of rice food products in the domestic and overseas market.

It is also engaged in research and development to add value to rice and rice food products. The Company’s rice product portfolio comprises brown rice, white rice, steamed rice, parboiled rice, organic rice, quick cooking rice, value added rice and flavored rice in the ready to cook segment.

The Company’s subsidiary, Nature Bio Foods Limited (NBFL) drives the ingredient based organic food segment. It has emerged as a trusted brand, offering authentic organic ingredients to consumers across the markets of the US and Europe. [1]

Key Points

Brands
The company owns several rice brands such as Daawat, Royal, Heritage, Devaaya, Gold Seal Indus Valley, 817 Elephant and Kari Kari and Ecolife. [1]. Its flagship Brands “Daawat” and “Royal” enjoy leadership positions in the market of Basmati Rice in India and North America with market share of 30% and 50% respectively. [2]

  • Market Cap 6,153 Cr.
  • Current Price 177
  • High / Low 235 / 90.0
  • Stock P/E 10.7
  • Book Value 88.0
  • Dividend Yield 0.56 %
  • ROCE 17.1 %
  • ROE 16.8 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 24.3% CAGR over last 5 years

Cons

  • Promoter holding has decreased over last 3 years: -5.81%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: FMCG Industry: Food - Processing - Indian

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
1,128 1,153 1,213 1,320 1,368 1,526 1,611 1,725 1,778 1,821 1,778 1,978 1,942
992 1,033 1,083 1,167 1,219 1,376 1,445 1,553 1,613 1,625 1,564 1,737 1,703
Operating Profit 136 120 130 153 149 151 166 172 166 196 214 240 239
OPM % 12% 10% 11% 12% 11% 10% 10% 10% 9% 11% 12% 12% 12%
1 16 18 3 0 11 9 7 22 34 25 26 20
Interest 18 19 17 16 17 19 17 18 22 26 22 19 18
Depreciation 25 31 29 29 30 35 29 30 32 35 36 36 36
Profit before tax 94 86 102 110 103 108 129 131 133 169 181 211 204
Tax % 26% 31% 26% 27% 25% 30% 26% 27% 25% 22% 24% 26% 25%
69 60 76 81 77 75 95 95 100 132 137 157 153
EPS in Rs 2.07 1.76 2.27 2.40 2.23 2.24 2.80 2.80 2.98 3.69 3.96 4.49 4.35
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,422 2,206 2,459 2,716 2,955 3,245 3,614 3,890 4,135 4,742 5,427 6,936 7,519
1,258 1,989 2,193 2,452 2,598 2,887 3,237 3,490 3,668 4,180 4,835 6,235 6,630
Operating Profit 164 217 266 264 357 358 376 400 467 562 592 701 889
OPM % 12% 10% 11% 10% 12% 11% 10% 10% 11% 12% 11% 10% 12%
-22 22 16 45 -38 48 36 21 33 31 23 71 104
Interest 107 117 113 151 148 157 147 139 132 87 69 82 85
Depreciation 34 39 37 47 52 55 50 69 91 108 123 127 143
Profit before tax -0 83 131 111 120 194 216 214 277 398 424 563 765
Tax % -10,000% 27% 35% 31% 39% 33% 33% 36% 28% 27% 27% 25%
-1 60 85 76 72 129 144 137 199 289 309 423 579
EPS in Rs -0.05 2.14 2.98 2.74 2.70 4.40 4.21 3.96 5.77 8.57 9.14 11.60 16.49
Dividend Payout % 0% 9% 8% 7% 6% 3% 4% 4% 9% 12% 11% 9%
Compounded Sales Growth
10 Years: 12%
5 Years: 14%
3 Years: 19%
TTM: 13%
Compounded Profit Growth
10 Years: 22%
5 Years: 24%
3 Years: 29%
TTM: 66%
Stock Price CAGR
10 Years: 36%
5 Years: 40%
3 Years: 50%
1 Year: 84%
Return on Equity
10 Years: 16%
5 Years: 15%
3 Years: 16%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 26 26 26 26 27 27 32 32 32 32 32 35 35
Reserves 229 285 365 436 510 638 1,147 1,297 1,449 1,724 1,966 2,722 3,022
1,221 1,413 1,502 1,692 1,597 1,610 1,548 1,690 1,764 1,570 1,320 1,221 980
123 249 299 291 330 460 529 554 573 787 1,042 1,341 725
Total Liabilities 1,598 1,973 2,193 2,445 2,464 2,735 3,256 3,573 3,818 4,112 4,359 5,319 4,761
330 339 350 370 361 374 566 601 906 880 905 995 956
CWIP 5 12 19 15 24 40 28 42 17 33 35 27 102
Investments 5 5 5 7 6 14 14 36 33 29 25 127 160
1,258 1,617 1,819 2,053 2,072 2,308 2,648 2,894 2,862 3,171 3,394 4,170 3,543
Total Assets 1,598 1,973 2,193 2,445 2,464 2,735 3,256 3,573 3,818 4,112 4,359 5,319 4,761

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
95 104 9 297 227 60 103 477 445 517 258
-30 -52 -58 -54 -83 -233 -137 -83 -101 -145 -395
-37 -45 32 -235 -137 160 44 -404 -346 -358 136
Net Cash Flow 27 7 -17 8 7 -13 10 -10 -2 15 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 69 62 48 43 46 52 47 50 55 37 41 35
Inventory Days 306 238 277 249 233 231 251 247 222 267 247 254
Days Payable 27 34 30 18 27 35 50 37 33 60 74 90
Cash Conversion Cycle 348 265 295 273 253 248 248 260 244 244 215 199
Working Capital Days 261 213 214 227 189 185 195 206 189 176 151 138
ROCE % 10% 12% 13% 13% 14% 16% 14% 12% 13% 14% 14% 17%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
56.81% 56.81% 56.81% 56.81% 56.81% 56.81% 56.82% 56.82% 51.00% 51.00% 51.00% 51.00%
1.14% 1.58% 1.38% 1.42% 1.38% 1.90% 4.01% 5.31% 5.04% 6.48% 6.01% 5.73%
3.51% 3.51% 3.38% 3.38% 3.39% 3.09% 3.28% 3.30% 3.00% 3.29% 5.08% 5.12%
38.53% 38.09% 38.43% 38.39% 38.42% 38.20% 35.91% 34.57% 40.94% 39.22% 37.89% 38.15%
No. of Shareholders 1,10,4471,36,0911,44,6081,54,8331,71,4321,66,9731,51,9801,46,7731,50,0651,44,0321,53,3381,63,196

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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