Introduction:
Leading FMCG company has entered Saudi Arabia’s $2 billion rice market by opening a new office in Riyadh. This strategic expansion focuses on delivering premium rice products and investing SAR 185 million to establish a robust regional presence over five years..
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Share price movement of LT Foods:
On November 26, 2024, LT Foods Ltd opened at ₹366.05, up 2.38% from its previous close of ₹355.20. The stock hit a high of ₹375.00 and a low of ₹356.00. The stock closed at ₹361.40, reflecting a 1.75% increase. The market cap stands at ₹12,549.72 crore.
LT Foods Enters Saudi Arabian Market with Riyadh Office
LT Foods Ltd., a global FMCG company, has expanded into Saudi Arabia, opening an office in Riyadh. Targeting the $2 billion rice market, the company aims to meet the growing demand for premium rice products in the Kingdom.
With 18 years of Revenue CAGR at 18% and Profit CAGR at 21%, LT Foods plans to invest SAR 185 million in warehousing, stocks, and workforce, projecting SAR 435 million revenue over the next five years. The Riyadh office will spearhead regional operations.
Saudi Agricultural and Livestock Investment Company (SALIC) as a strategic shareholder strengthens LT Foods’ plans to establish local manufacturing facilities. This move underscores its commitment to leveraging its expertise to cater to Saudi Arabia’s culinary preferences.
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Recent news on LT Foods:
As of October 24, 2024, LT Foods declared a 50% interim dividend of ₹0.50 per share for FY 2024-25. The company had set November 4, 2024, as the record date for dividend eligibility, with payment to be completed within 30 days of declaration.
Ace investor holding in LT Foods:
Mukul Mahavir Agrawal
Mukul Mahavir Agrawal holds a 1.15% stake in LT Foods, owning 4 million shares valued at ₹145.6 crore. His investment reflects confidence in the company’s growth potential and expanding global footprint in the rice market.
Stock performance of LT Foods for Period of 1 week, 6 months and 1 year:
LT Foods has delivered impressive returns, gaining 4.14% in one week, 76.0% over six months, and 67.2% in a year, showcasing robust performance and consistent growth in the FMCG sector, bolstered by strategic expansions and investments.
Shareholding pattern of LT Foods:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 51% | 51% | 51% |
| FII | 8.00% | 5.90% | 5.10% |
| DII | 5.80% | 5.70% | 4.10% |
| Public | 35.20% | 37.40% | 39.80% |
About the company LT Foods:
LT Foods Ltd (NSE: LTFOODS), founded in the 1980s, processes and markets basmati rice and rice-based products globally. Its subsidiary, Nature Bio Foods, focuses on organic ingredients, serving markets in the US and Europe with strong research and development backing.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
