This food stock is trending today!

The scrip is up more than 6%.

On December 19, the market is trading in the green. As of 12:25 am, the S&P BSE Sensex is trading at 61,671.69, up 0.54%, while NIFTY50 is trading at 18,371.40, up 0.56%. Regarding sectoral performance, FMCG and Auto are among the outperformers, while IT is the top loser.

Talking about a stock-specific action, LT Foods Ltd is the top gainer among S&P BSE group ‘A’ companies. The stock opened at Rs 112.2 and so far, made an intraday high and low of Rs 121.4 and Rs 112.2, respectively.

LT foods Limited is a global speciality food company. They primarily are involved in the milling, processing, storage, and marketing of basmati rice in domestic as well as international markets. LT foods Ltd is a global speciality food company. The company operates in three business segments- Basmati & other speciality rice segment, the Organic food business, and Convenience & Health segment.

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

For the latest September quarter, the revenue increased by 30.69% YoY from Rs 1319 in Q2FY22 to Rs 1724 crore. Similarly, the PAT jumped YoY by 15.56% from Rs 82 crore in Q2FY22 to Rs 95 crore. As per the FY22 period ending, the company has ROE and ROCE of 14.8% and 15.6%, respectively.

About the shareholding pattern, 56.82% of the company’s stake is owned by the promoters, 4.01% by FIIs, 3.28% by DIIs, and the rest 35.91% by non-institutional investors.

The company has a market capitalisation of Rs 3865 crore and is currently trading at a PE multiple of 32.48x. The stock has a 52-week high and low of Rs 135.85 and Rs 58.75, respectively.