This food stock is trending on October 4

This food stock is trending on October 4

Indian Market
by 5paisa Research Team Last Updated: 2022-10-04T12:00:23+05:30

The stock surged 4% on the day. 

On October 4, the market is trading in green. At 11:45 am, the S&P BSE Sensex is trading at 57887, up 1.93% on the day. Among sectors, Financials and IT are the top gainers, while healthcare is underperforming today. Regarding stock-specific action, LT Foods is among the top gainers. 

The share surged 4% and is trading at Rs 121.5. The stock opened at Rs 118.95 and has made an intraday high and low of Rs 125 and Rs 118.1, respectively. 

LT Foods Ltd is a global speciality food company. They are primarily involved in the processing and storage of rice. The company operates in three business segments- Basmati and other speciality rice segment, organic food business, and convenience and health segments. 

The company operates in 60+ countries and has a prominent presence in India, the US, Europe, and Middle East regions. The company has a market share of 49% and 20% in the North America and Europe region when it comes to Basmati rice. The company is the market leader in the North American region. 

LT Foods has shown strong growth in Q4 as well as for the entire FY21-22 period. The company's Q4 revenue grew by 21% YOY, whereas the revenue for the entire FY22 was recorded at Rs 5451 crore with 14% YOY growth. The gross profit also improved by 27% YOY for Q4. EBITDA also expanded to Rs 163 crore, as against Rs 138 crore for Q4 of the last fiscal. 

As per the FY22 period ending, the company has ROE and ROCE of 14.8% and 15.6%, respectively. 

About the shareholding pattern, 56.81% of the company’s stake is owned by the promoters, 1.9% by FIIs, 3.09% by DIIs, and the rest 38.2% by non-institutional investors. 

The company has a market capitalisation of Rs 3926 crore and is currently trading at a PE multiple of 33.74x. The stock has a 52-week high and low of Rs 125 and Rs 58.75, respectively. 


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