LT Foods rises on entering into Saudi Arabia with inauguration of new office in Riyadh
LT Foods is currently trading at Rs. 359.00, up by 3.80 points or 1.07% from its previous closing of Rs. 355.20 on the BSE.
The scrip opened at Rs. 366.05 and has touched a high and low of Rs. 375.00 and Rs. 357.75 respectively. So far 69606 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 447.95 on 17-Sep-2024 and a 52 week low of Rs. 160.05 on 14-Mar-2024.
Last one week high and low of the scrip stood at Rs. 375.00 and Rs. 332.30 respectively. The current market cap of the company is Rs. 12334.42 crore.
The promoters holding in the company stood at 51.00%, while Institutions and Non-Institutions held 13.81% and 35.19% respectively.
LT Foods has officially entered into Saudi Arabia with the inauguration of a new office in Riyadh, to tap the $2 billion rice and rice-based food market in Kingdom of Saudi Arabia (KSA). The move is part of the company’s strategic vision of expanding its global footprint to newer geographies. Today, LT Foods generates $1 billion in global revenue, demonstrating an established track record of sustained Year-on-Year (YoY) profit growth. It has delivered 18 years of Revenue CAGR of 18% and a Profit CAGR of 21%.
With its new office in Riyadh, the company is set to revolutionize the rice market in Saudi Arabia and meet consumers' growing demand for authentic and premium rice and rice-based food products. The new office will act as a hub for LT Foods’ regional operations, enabling the company to leverage its deep expertise in rice and rice-based food products that align with Saudi Arabian consumers' tastes and culinary traditions.
LT Foods is a branded specialty foods company. It is engaged in milling, processing and marketing of branded and non-branded basmati rice, and manufacturing of rice food products in the domestic and overseas market.
