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LT Foods Approves Key Board Appointments and Expansion into Lab Testing Services
LT Foods has announced a significant reshuffle and strengthening of its Board, including the re-appointment of two Independent Directors and the addition of a new Independent Director, Ms. Rima Gupta. The company is also seeking shareholder approval to expand its business scope to include testing and research laboratory services for food and agricultural products. Mr. Ashok Kumar Arora, a member of the promoter group, has been appointed as a Whole Time Director for a three-year term. A postal ballot will be conducted to finalize these decisions, with the record date set for March 6, 2026.
Key Highlights
Re-appointment of Mr. Abhiram Seth and Mrs. Ambika Sharma as Independent Directors for 5-year terms starting 2026.
Appointment of Mr. Ashok Kumar Arora as Whole Time Director for 3 years effective April 8, 2026.
Proposed amendment to the Memorandum of Association to include food and chemical testing laboratory services.
Record date for the Postal Ballot and e-voting process is fixed as March 6, 2026.
New Independent Director Ms. Rima Gupta brings nearly 40 years of strategic marketing and brand building experience.
💼 Action for Investors
Investors should view the leadership continuity and the strategic move into laboratory services as positive steps toward business diversification and governance. Monitor the postal ballot results to confirm shareholder approval for these changes.
LT Foods Approves Key Board Appointments and Expands Business Scope into Lab Research
LT Foods has announced a series of leadership changes, including the re-appointment of two Independent Directors, Abhiram Seth and Ambika Sharma, for second five-year terms. The company also appointed Ms. Rima Gupta as an Independent Director and Mr. Ashok Kumar Arora, a member of the promoter group, as a Whole Time Director for three years. Crucially, the board approved an amendment to the Memorandum of Association to allow the company to establish and run testing and research laboratories for food and agricultural products. These moves signal a focus on leadership continuity and a potential new revenue stream in quality testing and R&D.
Key Highlights
Re-appointment of two Independent Directors for 5-year terms ending in 2031
Appointment of Ashok Kumar Arora as Whole Time Director for a 3-year term effective April 8, 2026
Addition of Ms. Rima Gupta to the board, bringing 40 years of marketing and brand strategy expertise
Amendment of MOA to include testing, research, and analysis services for food, chemicals, and agri-products
Postal ballot cut-off date set for March 6, 2026, to seek shareholder approval for these changes
💼 Action for Investors
Investors should take confidence in the leadership stability and the addition of high-caliber marketing expertise to the board. The expansion into laboratory and research services suggests a strategic move toward vertical integration and quality control which could enhance brand trust and margins.
LT Foods Appoints New Directors and Expands into Food Testing & Research Services
LT Foods has announced significant leadership updates, including the re-appointment of two Independent Directors and the addition of Ms. Rima Gupta to the board for five-year terms. Mr. Ashok Kumar Arora, a promoter group member, has been appointed as a Whole Time Director for three years. Most notably, the company is diversifying its business by amending its Memorandum of Association to include the operation of testing and research laboratories for food and agricultural products. These changes are subject to shareholder approval, with the voting eligibility cut-off set for March 6, 2026.
Key Highlights
Re-appointment of Abhiram Seth and Ambika Sharma as Independent Directors for 5-year terms.
Appointment of Ms. Rima Gupta as Independent Director for 5 years effective April 8, 2026.
Appointment of Promoter Group member Ashok Kumar Arora as Whole Time Director for 3 years.
Strategic MoA amendment to enter the testing, research, and analysis laboratory sector for food items.
Postal ballot process initiated with a cut-off date of March 6, 2026, for shareholder voting.
💼 Action for Investors
The move into laboratory services indicates a strategic diversification that could enhance quality control and create new revenue streams. Investors should monitor future CAPEX announcements related to these research facilities.
CRISIL Upgrades LT Foods Long-Term Rating to 'AA/Stable' on Strong Growth and Low Leverage
CRISIL has upgraded LT Foods' long-term credit rating to 'AA/Stable' from 'AA-/Positive', citing a sustained improvement in business risk and market leadership. The company reported a 9M FY26 revenue of Rs 8,039 crore and expects to close the full fiscal year between Rs 10,500-11,000 crore. Financial metrics remain strong with a projected Debt/EBITDA ratio of 0.6-0.7x and interest coverage of 10-11 times. The upgrade is supported by healthy brand recall for Daawat and Royal, alongside successful geographic diversification across 80 countries.
Key Highlights
Long-term rating upgraded to 'CRISIL AA/Stable' for Rs 880 crore bank facilities.
9M FY26 revenue rose to Rs 8,039 crore from Rs 6,453 crore in the previous year.
Projected FY26 Debt to EBITDA ratio of 0.6-0.7x indicates very low leverage and strong financial health.
Expected annual net cash accruals of Rs 800-900 crore to comfortably cover debt obligations and working capital.
Successfully acquired the remaining 49% stake in Golden Star Trading Inc, making it a wholly-owned subsidiary.
💼 Action for Investors
The rating upgrade confirms LT Foods' improving financial resilience and efficient capital management. Long-term investors can remain positive as the company scales its branded business while maintaining a conservative debt profile.
LT Foods: US DoC Reduces CVD Rate on Organic Soybean Meal to 75.48% from 340.27%
The US Department of Commerce (US DoC) has issued a final order significantly reducing the Countervailing Duty (CVD) rate for LT Foods' subsidiary, Ecopure Specialities Limited. The duty rate on organic soybean meal exports has been slashed from a provisional 340.27% to a final 75.48%. This adjustment follows an administrative review of sales totaling Rs. 50 crore for the 2023 calendar year. While the duty remains substantial, the massive reduction from the initial 'adverse facts' assessment provides significant relief for the company's US export operations.
Key Highlights
Final CVD rate reduced to 75.48% from a provisional high of 340.27%
Impacts Ecopure Specialities Limited, a step-down subsidiary of LT Foods
Relates to organic soybean meal sales of Rs. 50 crore during Jan-Dec 2023
The US DoC moved away from the extreme 'adverse facts available' (AFA) methodology in the final determination
💼 Action for Investors
Investors should welcome this reduction as it significantly lowers the potential liability and improves the viability of the organic segment, though the 75% duty still warrants monitoring for margin impact.
LT Foods Subsidiary Sees US CVD Rate Reduced to 75.48% from 340.27%
The US Department of Commerce has issued a final order significantly reducing the countervailing duty (CVD) on organic soybean meal exports by LT Foods' subsidiary, Ecopure Specialities Limited. The duty rate has been revised to 75.48%, down from the provisional rate of 340.27% previously imposed under the 'adverse facts available' methodology. This administrative review covers the period from January 1, 2023, to December 31, 2023, involving sales worth Rs. 50 crore. This reduction provides substantial relief to the company's export operations and financial liability in the US market.
Key Highlights
US Department of Commerce reduces CVD rate to 75.48% from 340.27%
Final order pertains to organic soybean meal exports by subsidiary Ecopure Specialities
The review period covers sales of Rs. 50 crore for the 2023 calendar year
Significant reduction from the previous provisional rate provides financial relief
💼 Action for Investors
Investors should view this as a positive regulatory development that mitigates a major cost risk for the subsidiary. Monitor how the remaining 75.48% duty affects the competitiveness of organic soybean meal exports to the US.
LT Foods Faces ₹32.41 Crore GST Demand After Appellate Order Reversal
LT Foods has received an adverse appellate order from the Commissioner of CGST (Appeals-II), Delhi, which reverses a previous favorable ruling from January 2025. The new order confirms a GST demand of ₹32.41 crore, along with applicable interest and penalties, regarding alleged wrongful tax exemptions on rice sold in plain packaging. While the company intends to challenge this decision at the GST Appellate Tribunal, the confirmation of this liability represents a regulatory hurdle. The management currently believes they have strong grounds for appeal and do not foresee an immediate material impact on operations.
Key Highlights
Appellate authority reversed a previous order that had dropped a GST demand of ₹32.41 crore
The demand is confirmed under Section 74 of the CGST Act, 2017, including interest and penalties
Dispute pertains to GST exemptions claimed on rice supplies made in plain packaging
LT Foods plans to contest the order before the appropriate GST Appellate Tribunal
The company received the formal order on February 4, 2026, and disclosed it on February 24, 2026
💼 Action for Investors
Investors should monitor the upcoming appeal at the GST Appellate Tribunal as a final adverse ruling would impact the company's bottom line by over ₹32 crore plus interest. No immediate panic is necessary as the company is pursuing further legal remedies.
LT Foods Incorporates Wholly Owned Subsidiary LTF Global Investments L.L.C. in Dubai
LT Foods Limited has successfully completed the incorporation of a new wholly owned subsidiary in Dubai, UAE, named LTF Global Investments L.L.C. The entity was officially licensed on February 19, 2026, under License No. 1601550. This development follows the company's initial announcement made on January 21, 2026, regarding its intent to expand its global footprint. The establishment of this Dubai-based hub is expected to facilitate international investments and streamline global operations for the rice and food products major.
Key Highlights
Incorporation of 100% wholly owned subsidiary LTF Global Investments L.L.C. in Dubai, UAE.
Official license (No. 1601550) granted on February 19, 2026.
Follow-up to the strategic board decision previously communicated on January 21, 2026.
Strategic move to enhance the company's global investment structure and Middle Eastern presence.
💼 Action for Investors
Investors should monitor for further updates on the specific business activities and capital deployment plans for this new subsidiary. This expansion reinforces the company's global growth strategy and could lead to improved operational efficiencies in international markets.
LT Foods Q3 FY26: Revenue Up 23% to ₹2,812 Cr; U.S. Tariffs and Crop Yields in Focus
LT Foods reported record quarterly revenue of ₹2,812 crores, a 23% YoY increase, though normalized growth excluding U.S. tariffs and the Golden Star acquisition was 8%. EBITDA for 9M FY26 rose 20% to ₹936 crores, while margins slightly compressed by 30 bps to 11.6% due to brand investments. The company is currently managing a 50% U.S. import tariff by passing costs to consumers, though management noted a slight slowdown in mainstream U.S. demand in January. Additionally, the proposed acquisition of Hungary-based Global Green Group was rejected by the Hungarian government.
Key Highlights
9M FY26 revenue reached ₹8,085 crores (+24% YoY) with EBITDA of ₹936 crores (+20% YoY).
U.S. import tariffs have escalated to 50%, which the company has largely passed on to end consumers.
The Hungarian Ministry of National Economy rejected the acquisition of Global Green Group due to identified national risks.
Basmati crop yields for 2025 are lower than earlier projections, leading to a higher price environment for paddy.
India business grew 10% YoY, with the Daawat brand expanding household reach to 58.11 lakh homes.
💼 Action for Investors
Investors should closely monitor Q4 volume trends in the U.S. to see if the 50% tariff pass-through leads to significant demand destruction. While revenue growth remains strong, the rising paddy prices and the failed European acquisition warrant a cautious outlook on near-term margin expansion.
LT Foods Withdraws Global Green Group Acquisition After Hungarian Regulatory Rejection
LT Foods Limited has officially withdrawn its proposed acquisition of the Global Green Group after the Ministry of National Economy, Hungary, rejected the deal on January 28, 2026. The acquisition, which was first approved in May 2025, involved Global Green Europe Kft., Greenhouse AGRAR Kft., and Global Green International (UK) Limited. The Hungarian authorities cited national economic and sectoral risks as the primary reasons for the rejection. Consequently, the company will no longer proceed with this specific international expansion transaction.
Key Highlights
Proposed acquisition of Global Green Group entities in Hungary and the UK has been terminated.
Rejection issued by the Ministry of National Economy, Hungary, on January 28, 2026.
Grounds for rejection include identified national economic and sectoral risks in Hungary.
The transaction had been under process since the initial announcement on May 15, 2025.
LT Foods will not take the transaction forward, impacting its inorganic growth strategy in the European region.
💼 Action for Investors
Investors should monitor the company's alternative plans for capital allocation and international expansion following this regulatory setback. While the rejection is a hurdle for inorganic growth, it avoids the 'sectoral risks' identified by the Hungarian government.
LT Foods Withdraws Global Green Group Acquisition Following Hungarian Regulatory Rejection
LT Foods Limited has announced the withdrawal of its proposed acquisition of the Global Green Group after the deal was blocked by international regulators. The Ministry of National Economy, Hungary, rejected the acquisition on January 28, 2025, citing national economic and sectoral risks. The transaction, which was initially approved in May 2025, would have included Global Green Europe Kft., Greenhouse AGRAR Kft., and Global Green International (UK) Limited. Consequently, the company will no longer proceed with this specific inorganic expansion strategy.
Key Highlights
Proposed acquisition of Global Green Group entities in Hungary and the UK has been officially withdrawn.
Rejection issued by the Hungarian Ministry of National Economy on January 28, 2025.
Regulatory grounds for rejection included identified national economic and sectoral risks.
The deal termination follows a process that was active since the initial announcement on May 15, 2025.
💼 Action for Investors
Investors should monitor management's commentary on alternative growth plans and the reallocation of capital previously intended for this acquisition. The failure to close this deal may lead to a short-term negative sentiment regarding the company's European expansion pace.
LT Foods Withdraws Global Green Group Acquisition Following Hungarian Regulatory Rejection
LT Foods Limited has announced the termination of its proposed acquisition of the Global Green Group after the Ministry of National Economy, Hungary, rejected the deal. The acquisition, which was initiated in May 2025, included Global Green Europe Kft., Greenhouse AGRAR Kft., and Global Green International (UK) Limited. The Hungarian government cited national economic and sectoral risks as the primary reasons for the rejection on January 28, 2026. Consequently, the company has withdrawn the transaction and will not proceed with the expansion into these specific entities.
Key Highlights
Proposed acquisition of three Global Green Group entities has been officially withdrawn.
The Ministry of National Economy, Hungary, rejected the transaction on January 28, 2026.
Rejection was based on identified national economic and sectoral risks within Hungary.
The deal involved entities across Hungary and the United Kingdom, first proposed in May 2025.
💼 Action for Investors
Investors should monitor management's next steps regarding capital allocation and whether they seek alternative targets for European expansion. The cancellation may lead to a short-term adjustment in growth expectations previously tied to this acquisition.
LT Foods Q3 FY26: Revenue Surges 23% to ₹2,812 Cr; 9M ROCE Improves to 20.3%
LT Foods reported a robust 24% YoY revenue growth for 9M FY26, reaching ₹8,085 crore, primarily driven by the Basmati and Specialty Rice segment. While EBITDA margins slightly compressed to 11.6% due to aggressive brand investments, the company significantly improved its efficiency with working capital days dropping from 227 to 205. The balance sheet remains strong with Net Debt/EBITDA improving to 0.95x. However, the company faces a downward revision in crop production outlook for 2025 due to weather-impacted yields.
Key Highlights
9M FY26 Revenue grew 24% YoY to ₹8,085 crore, with normalized growth at 19% excluding US tariffs.
Return on Capital Employed (ROCE) improved to 20.3% from 19.5% in the previous year.
Net Debt to EBITDA ratio strengthened significantly, reducing from 1.17x to 0.95x.
Basmati segment revenue grew 26% YoY, while the Organic segment saw a 15% increase.
Working capital cycle optimized by 22 days, reaching 205 days in 9M FY26.
💼 Action for Investors
Investors should focus on the company's successful premiumization and market share gains in North America. Monitor the final US CVD determination on February 17, 2026, and the impact of lower crop yields on procurement costs.
LT Foods Q3 Net Profit Rises 8% to ₹157 Cr; Declares ₹1 Interim Dividend
LT Foods reported a strong 23.5% YoY growth in consolidated revenue, reaching ₹2,809.20 crore for the quarter ended December 31, 2025. Consolidated net profit for the quarter increased by 8.2% YoY to ₹157.35 crore, while 9-month profits reached ₹489.71 crore. The company declared a second interim dividend of ₹1 per share (100% of face value) with a record date of February 2, 2026. Additionally, the company transitioned its internal audit function to an in-house head supported by EY, following the resignation of Protiviti India.
Key Highlights
Consolidated revenue from operations grew 23.5% YoY to ₹2,80,920 lakh in Q3 FY26.
Net profit for the quarter stood at ₹15,735 lakh, up from ₹14,538 lakh in the previous year's corresponding quarter.
Declared a 2nd interim dividend of ₹1 per equity share with a record date of February 2, 2026.
9M FY26 consolidated revenue reached ₹8,03,885 lakh, a significant jump from ₹6,45,310 lakh in 9M FY25.
Appointed Ms. Neha Sharma as Internal Auditor, supported by EY for select audits, effective January 28, 2026.
💼 Action for Investors
Investors should take note of the robust top-line growth and consistent dividend payouts as indicators of strong market demand. The transition in internal audit to a hybrid model involving EY suggests a continued commitment to governance and internal controls.
LT Foods 9M FY'26 Revenue Up 24% to ₹8,085 Cr; EBITDA Rises 20% to ₹936 Cr
LT Foods reported a strong 24% YoY revenue growth for 9M FY'26, reaching ₹8,085 crore, driven by its Basmati and Organic segments. While EBITDA grew by 20% to ₹936 crore, PAT growth was more modest at 9% (₹490 crore) due to margin compression. The company's flagship brand 'Daawat' saw increased household penetration in India, and the US market showed 50% growth (12% normalized). However, management flagged potential near-term pressure from US tariff-related developments and rising input costs.
Key Highlights
9M FY'26 Revenue grew 24% YoY to ₹8,085 crore; Q3 FY'26 Revenue up 23% to ₹2,812 crore.
EBITDA for 9M FY'26 increased 20% to ₹936 crore, though EBITDA margin dipped slightly to 11.6%.
Basmati and Specialty Rice business grew 26% YoY in 9M FY'26 (12% normalized growth).
Net Debt-to-Equity ratio improved to 0.27 from 0.33, indicating a stronger balance sheet.
US market revenue surged 50% YoY (12% normalized), while Europe grew by 35%.
💼 Action for Investors
Investors should monitor the impact of US tariffs on future margins as highlighted by management. While top-line growth and debt reduction are strong, the slowing PAT growth relative to revenue warrants a focus on cost management efficiency.
LT Foods Q3 Net Profit Up 8% to ₹157 Cr; Declares ₹1 Interim Dividend
LT Foods reported a 23.5% YoY increase in consolidated revenue to ₹2,809.20 crore for Q3 FY26. The company declared its second interim dividend of ₹1 per share, representing 100% of the face value. Net profit for the quarter rose to ₹157.35 crore from ₹145.39 crore in the previous year. The board also approved the appointment of Ms. Neha Sharma as the Internal Auditor, supported by EY for specific audits.
Key Highlights
Consolidated Revenue for Q3 FY26 rose 23.5% YoY to ₹2,809.20 crore.
Net Profit for the quarter increased 8.2% YoY to ₹157.35 crore.
Declared 2nd Interim Dividend of ₹1 per share with a record date of February 2, 2026.
9-month FY26 consolidated revenue stands at ₹8,038.85 crore compared to ₹6,453.10 crore YoY.
Basic EPS for the quarter improved to ₹4.53 from ₹4.13 in the year-ago period.
💼 Action for Investors
The strong revenue growth and dividend declaration reflect healthy operational performance. Investors may hold for long-term gains as the company scales its global footprint.
LT Foods Q3 Net Profit Rises 8.2% YoY to ₹157 Cr; Declares ₹1 Interim Dividend
LT Foods reported a robust 23.5% YoY growth in consolidated revenue for Q3 FY26, reaching ₹2,809.20 crore. Net profit for the quarter increased by 8.2% YoY to ₹157.35 crore, while the nine-month profit reached ₹489.71 crore. The company declared a second interim dividend of ₹1 per share (100% of face value) with a record date of February 2, 2026. Additionally, the company transitioned its internal audit function to Ms. Neha Sharma, supported by EY, following the resignation of Protiviti India.
Key Highlights
Consolidated Revenue from operations grew 23.5% YoY to ₹2,809.20 crore in Q3 FY26.
Net Profit (PAT) for the quarter stood at ₹157.35 crore, up from ₹145.39 crore in the previous year.
Declared a 2nd interim dividend of ₹1 per equity share for the financial year 2025-26.
9-month FY26 consolidated revenue reached ₹8,038.85 crore compared to ₹6,453.11 crore in 9M FY25.
Basic EPS for the quarter improved to ₹4.53 from ₹4.13 in the corresponding quarter of the previous year.
💼 Action for Investors
Investors may find the consistent revenue growth and dividend payout encouraging for long-term holding. The stock remains a strong performer in the consumer staples segment with healthy margins and steady earnings growth.
L&T Finance Q3FY26: Core PAT up 21% YoY to ₹760 Cr; Retail Disbursements surge 49%
L&T Finance reported a strong Q3FY26 with core PAT reaching ₹760 crore, driven by record retail disbursements of ₹22,701 crore. The retail book now stands at ₹1,11,990 crore, representing 98% of the total portfolio. Asset quality showed improvement as core credit costs moderated to 2.74% and no macro-prudential provisions were utilized. The company remains on track to achieve its Lakshya 2026 RoA target of 2.8%-3.0% by Q4FY27.
Key Highlights
Highest ever quarterly retail disbursements of ₹22,701 Cr, up 49% YoY.
Core PAT grew 21% YoY to ₹760 Cr; Retail book reached ₹1,11,990 Cr (98% of total).
NIM + Fees improved by 19 bps sequentially to 10.41% due to yield focus.
Core credit cost moderated to 2.74%, down 24 bps QoQ, with zero macro-prudential provision usage.
Gold Loan disbursements grew 43% QoQ to ₹1,408 Cr with 64 new branches added.
💼 Action for Investors
Investors should maintain a positive outlook as the company successfully transitions to a 98% retail-led model with improving profitability. Key metrics to watch include the trajectory of credit costs toward the 2.0-2.2% target and the impact of AI initiatives on underwriting.
LT Foods Launches 'DAAWAT I’m Organic' Range with 100% Traceability Features
LT Foods has expanded its premium portfolio with the launch of the 'DAAWAT® I’m Organic' range, featuring Organic Basmati and Sona Masoori rice. The new range leverages QR-code technology to provide consumers with end-to-end traceability, from geo-tagged cultivation to final packaging. Currently, the organic segment contributes 11% to the company's global revenue, and this launch aims to capture the high-growth health-conscious market in India. LT Foods reported a consolidated revenue of Rs. 8,773 crores in FY'25, maintaining a strong 5-year PAT CAGR of 21%.
Key Highlights
Launched 'DAAWAT® I’m Organic' range featuring Organic Basmati and Sona Masoori rice variants.
Organic Foods & Ingredients business currently contributes 11% to the company's total global revenue.
Introduced industry-first QR-code traceability for geo-tagged cultivation, land testing, and batch certification.
Company reported FY'25 consolidated revenue of Rs. 8,773 crores with a 5-year Revenue CAGR of 16%.
Strategic distribution focus on E-commerce and Quick-commerce platforms to target premium consumers.
💼 Action for Investors
Investors should view this as a positive move toward premiumization and margin expansion within the high-growth organic segment. Monitor the sales traction on Quick-commerce platforms as a lead indicator for the success of this new range.
LT Foods Board to Consider Q3 Results and 2nd Interim Dividend on Jan 28, 2026
LT Foods Limited has scheduled a board meeting on January 28, 2026, to review and approve un-audited financial results for the quarter and nine months ending December 31, 2025. The board will also evaluate the declaration of a second interim dividend for the current financial year. If the dividend is declared, the company has already set February 02, 2026, as the record date for determining eligible shareholders. This announcement provides clarity on the upcoming corporate actions and financial performance updates.
Key Highlights
Board meeting scheduled for January 28, 2026, to approve Q3 and 9M FY26 results.
Proposal for a second interim dividend for the financial year 2025-26 to be considered.
Record date for the potential dividend is fixed as February 02, 2026.
The meeting will be held in compliance with Regulation 29 of SEBI (LODR) Regulations, 2015.
💼 Action for Investors
Investors should monitor the January 28 results for margin performance and volume growth. To be eligible for the potential dividend, shares must be held in the portfolio before the February 02 record date.