{"id":143138,"date":"2023-03-02T03:18:00","date_gmt":"2023-03-02T08:18:00","guid":{"rendered":"https:\/\/44.250.171.167\/?p=143138"},"modified":"2023-03-02T03:36:07","modified_gmt":"2023-03-02T08:36:07","slug":"earnings-lt-foods-ltd-nsedaawat-q3fy23-results-out-total-income-rise-31-yoy","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/earnings-lt-foods-ltd-nsedaawat-q3fy23-results-out-total-income-rise-31-yoy\/","title":{"rendered":"Earnings | LT Foods Ltd (NSE:DAAWAT): Q3FY23 Results Out; Total Income rise 31% YoY"},"content":{"rendered":"\n

LT Foods Ltd (NSE:DAAWAT)<\/a> is a leading rice manufacturer and marketer based in India. The company’s flagship brand, DAAWAT, is well-known for its premium quality basmati rice and is sold in more than 50 countries. LT Foods Ltd also produces and markets other varieties of rice, including parboiled rice, brown rice, white rice, steamed rice, and organic rice. The company’s product portfolio includes a range of basmati rice products such as DAAWAT Traditional Basmati Rice, DAAWAT Biryani Basmati Rice, DAAWAT Pulav Basmati Rice, DAAWAT Super Basmati Rice, and DAAWAT Rozana. The company also offers other rice varieties, including Select, Gold Basmati Rice, Super, Chef’s Secretz, Rozana, Devaaya Basmati Rice, Brown Rice, and Heritage. <\/p>\n\n\n\n

LT Foods Ltd has a strong presence in the global market and is focused on expanding its business further. The company has a robust distribution network that enables it to reach customers in various parts of the world. In addition to its core business of rice manufacturing and marketing, LT Foods Ltd is also involved in other food-related businesses, including organic foods and specialty foods.<\/p>\n\n\n\n

LT Foods, recently announced its Q3FY23 and 9MFY23 financial results. The company reported a total revenue of Rs 1,792 crore for Q3FY23, representing a 31% YoY growth. The total revenue for 9MFY23 was Rs 5,144 crore, up by 31% YoY. The increase in revenue can be attributed to the rising demand for its products across various geographies.<\/p>\n\n\n\n

LT Foods reported a gross profit of Rs 571 crore for Q3FY23, representing a 25% YoY growth. The gross profit for 9MFY23 was Rs 1,793 crore, up by 36% YoY. The company’s focus on improving operational efficiency and cost optimization measures has led to a rise in gross profit. The company’s EBITDA for Q3FY23 was Rs 179 crore, representing a 19% YoY growth. The EBITDA for 9MFY23 was Rs 534 crore, up by 17% YoY. Despite rising input costs, LT Foods has improved its EBITDA due to better pricing strategies and cost optimization measures.<\/p>\n\n\n\n

LT Foods reported a profit after tax of Rs 100 crore for Q3FY23, representing a 30% YoY growth. The profit after tax for 9MFY23 was Rs 291 crore, up by 24% YoY. The increase in profit after tax is due to the company’s focus on improving operational efficiency and effective cost management. The company’s cash profit for Q3FY23 was Rs 132 crore, representing a 24% YoY growth. The cash profit for 9MFY23 was Rs 383 crore, up by 19% YoY. LT Foods has efficiently managed its working capital and generated strong cash flow, contributing to its financial performance. LT Foods reported an EPS of Rs 8.58 for 9MFY23, representing a 24% YoY growth. The book value per share was Rs 77, up by 18% YoY.<\/p>\n\n\n\n

Overall, LT Foods has reported strong financial results for Q3FY23 and 9MFY23, driven by its focus on operational efficiency, cost optimization measures, and effective pricing strategies. The company’s strong cash flow generation and efficient working capital management have also contributed to its financial performance.<\/p>\n\n\n\n

Commenting on the financial results, Managing Director & CEO, Mr. Ashwani Arora said\u00a0<\/strong>that, \u201cDespite a challenging environment, we are pleased to report healthy performance during the quarter. The Company has reported a growth of 31 percent YoY during the quarter across all three segments \u2013 Basmati & Other Specialty Rice, Organic, Health & Convenience. With a rich history of over seven decades in the Basmati rice industry, our India market share continues to increase and currently stands at 29.4% according to the AC Nielsen survey. On a YoY basis, the category climbed by 15.7%, while the number of homes eating Daawat rose by 39% to 40 Lakh households. We continue to strengthen and accelerate our core business while diversifying our portfolio and remain committed to focus our energies towards promoting efficiency across all our processes and systems and remain committed towards building a sustainable brand. In the effort to diversify our product basket, we have seen tremendous success with the launch of new products like Devaaya Weight Watcher, Black Rice-E-com First, and Biryani Kit. We are well placed to capture growth across all our business segments with the combination of our strong brand, global supply chain hubs, wide distribution network in India and across geographies. Our growth enablers, including HR transformation, digitization, building economies of scale, and ESG, are effectively being implemented to meet the organization’s strategic goals. We are confident of continued improvement in our performance over the long term and LT Food\u2019s ability to deliver consistent, competitive, profitable, and responsible Growth.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

LT Foods Ltd (NSE:DAAWAT) is a leading rice manufacturer and marketer based in India. The company’s flagship brand, DAAWAT, is well-known for its premium quality basmati rice and is sold in more than 50 countries. LT Foods Ltd also produces and markets other varieties of rice, including parboiled rice, brown rice, white rice, steamed rice, […]<\/p>\n","protected":false},"author":1932,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9931,392],"tags":[9932,11797],"class_list":["post-143138","post","type-post","status-publish","format-standard","hentry","category-agricultural-products","category-earnings","tag-agricultural-products","tag-rice"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":143142,"url":"https:\/\/alphastreet.com\/india\/lt-foods-limited-q2-fy23-earnings-conference-call-insights\/","url_meta":{"origin":143138,"position":0},"title":"LT Foods Limited Q2 FY23 Earnings Conference Call Insights","author":"Praveen","date":"November 2, 2022","format":false,"excerpt":"https:\/\/youtu.be\/OBexbIGEUY8 Key highlights from LT Foods Limited (DAAWAT) Q2 FY23 Earnings Concall Management Update: [00:06:40] DAAWAT said that in India, its retail outlet reach was up by 40% and stood at 176,000 outlet. And the market share in India stood at 28.5%, up 180 bps. 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