• SMC open account icon Open an A/C
    • Open an A/C
    • CHOOSE YOUR OPTION(S)
    • Trading A/c
    • Mutual Fund A/c
    • NBFC A/c
    • NPS A/c

Home   >  Equity   >  Get Quotes

  • SENSEX Dec 10 2019 12:00
    40,239.88 -247.55 (-0.61%)
  • NIFTY Dec 10 2019 12:00
    11,856.80 -80.70 (-0.68%)
  • SENSEX Dec 10 2019 12:00
    40,239.88 -247.55 (-0.61%)
  • NIFTY Dec 10 2019 12:00
    11,856.80 -80.70 (-0.68%)
  • Nasdaq Dec 11 2019 04:30
    8,616.18 -5.64 (-0.07%)
  • DJIA Dec 11 2019 04:30
    27,881.72 -27.88 (-0.10%)
  • S&P 500 Dec 11 2019 04:30
    3,132.52 -3.44 (-0.11%)
  • Hang Seng Dec 10 2019 02:10
    26,436.62 -58.11 (-0.22%)
  • Crude Oil Dec 10 2019 11:45
    4,192.00 -5.00 (-0.12%)
  • Gold Dec 10 2019 11:45
    37,561.00 -22.00 (-0.06%)
  • Silver Dec 10 2019 11:45
    43,494.00 -8.00 (-0.02%)
  • Copper Dec 10 2019 11:45
    439.40 -0.10 (-0.02%)
  • Pound / Rupee Dec 23 2016 22:30
    93.33 -0.10 (-0.11%)
  • Dollar / Rupee Dec 23 2016 22:30
    70.96 -0.15 (-0.21%)
  • Euro / Rupee Dec 23 2016 22:30
    78.51 -0.30 (-0.38%)
  • Yen / Rupee Dec 23 2016 22:30
    0.65 0.00 (-0.12%)

L T Foods Ltd

BSE Code : 532783 | NSE Symbol : DAAWAT | ISIN:INE818H01020| SECTOR: - |

NSE BSE
 

22.75

-0.40 (-1.73%) Volume 280564

10-Dec-2019 EOD

Prev. Close

23.15

Open Price

23.15

Bid Price (QTY)

0.00(0)

Offer Price (QTY)

22.75(718)

 

Today’s High/Low 23.55 - 23.55

52 wk High/Low 45.25 - 17.90

Key Stats

MARKET CAP (RS CR) 726.05
P/E 10.27
BOOK VALUE (RS) 27.2692797
DIV (%) 15
MARKET LOT 1
EPS (TTM) 2.21
PRICE/BOOK 0.832438562724486
DIV YIELD.(%) 0.66
FACE VALUE (RS) 1
DELIVERABLES (%) 37.83
4

News & Announcements

09-Dec-2019

L T Foods Ltd - LT Foods Limited - Other General Purpose

03-Dec-2019

L T Foods Ltd - LT Foods Limited - Acquisition

18-Nov-2019

L T Foods Ltd - LT Foods Limited - Shareholders meeting

16-Nov-2019

L T Foods Ltd - Newspaper Publication Of Notice Of Postal Ballot

24-Oct-2019

LT Foods to announce Quarterly Result

19-Aug-2019

Board of L T Foods approves consolidation of overseas subsidiaries

09-Aug-2019

LT Foods to convene AGM

26-Jul-2019

LT Foods to conduct board meeting

Corporate Actions

Bonus
Splits
Dividends
Rights
Capital Structure
Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

Select Company Name BSE Code NSE Symbol
ADF Foods Ltd 519183 ADFFOODS
Agro Dutch Industries Ltd 519281 AGRODUTCH
Amajin Agro Exports 531708
Ambuja Flour Mills Ltd 519142
Ampro Products Ltd 519345
Amrit Corp Ltd 507525
Amrut Industries Ltd (Wound-up) 500011 AMRUTIND
Anjani Foods Ltd 511153
Anmol Dairy Ltd (Merged) 519510
ANS Industries Ltd 531406
Apis India Ltd 506166
Aravali Industries Ltd 521339 ARAVALIIND
Asian Lakto Industries Ltd 531285
Asian Vegpro Industries Ltd 530413
Asiatic Food (Exports) Ltd 531133
Avanti Feeds Ltd 512573 AVANTIFEED
AVI Export (India) Ltd (Wound-up) 531379
Baba Agro Food Ltd 535007 BABAFOOD
Bagrrys India Ltd 40328
Balaji Foods & Feeds Ltd (Merged) 519291 BALAJIFOOD
Bambino Agro Industries Ltd 519295
Bambino Food Industries Ltd (Merged) 530137
Bharatpur Nutritional Products Ltd 519393
Bilati (Orissa) Ltd 531906
Blue Heavens Agro Industries Ltd 40427
Cepham Milk Specialities Ltd 524810 CEPHAMILK
Chamanlal Setia Exports Ltd 530307
Chordia Food Products Ltd 519475
Chothani Foods Ltd 540681
Classic Mushrooms Ltd 532136
Coduras Exports Ltd (Wound-up) 530849
Concert Spices & Exports Ltd 523568
Confro Agros Ltd 519554
Cremica Agro Foods Ltd 40181
Cryptogen Agro Industries Ltd 531656
Dangee Dums Ltd 535104 DANGEE
Deccan Health Care Ltd 542248
DFM Foods Ltd 519588 DFMFOODS
Dharnendra Industries Ltd 519134 DHARNENIND
Doon Valley Rice Ltd 531226 DOONVALLEY
Eastern Overseas Ltd 519391 EASTOVERSE
Eco Friendly Food Processing Park Ltd 534839
Energy Products (I) Ltd 531620
Esteem Bio Organic Food Processing Ltd 534927
Estel Agrotech Ltd 532087
Euro India Fresh Foods Ltd 538412 EIFFL
Farmax India Ltd 590094 FARMAXIND
Fine Agromation Ltd 40317
Flex Foods Ltd 523672
Florence Agro Developers Ltd 40426
Foods & Inns Ltd 507552
Fortune Foods Ltd 519187
Freshtrop Fruits Ltd 530077
Genomics Biotech Ltd 524011
Global Foods Ltd 519498
Goa Fruit Specialities Ltd 531477
Godrej Agrovet Ltd 540743 GODREJAGRO
Goga Foods Ltd 40481
Goldcoin Health Foods Ltd 538542
Golden Proteins Ltd 519025
Great Western Industrial Ltd 531504
GRM Overseas Ltd 531449
Gujarat Aqua Industries Ltd 519347
Gujarat Dehyd Foods Ltd 526135
Has Lifestyle Ltd 780014
Hatsun Agro Product Ltd 531531 HATSUN
Heritage Foods Ltd 519552 HERITGFOOD
Herman Milkfoods Ltd 519428
Himalaya Food International Ltd 526899
Himalayan Vegefruit Ltd 40263
Himgiri Foods Ltd 519244
Hind Industries Ltd 526307 HINDIND
Hindustan Foods Ltd 519126 HNDFDS
IB Infotech Enterprises Ltd 519463
Inceptum Enterprises Ltd 538541
Indage Restaurants & Leisure Ltd 532264
Indian Food Fermentations Ltd 519365
Indiana Dairy Specialities Ltd (Wound-up) 519329 INDAIRYSPE
Indo Biotech Foods Ltd 519222 INDBIOFOOD
Indo Britain Agro Farms Ltd 530911
Indo Dutch Protiens Ltd 519576
Indo French Biotech Enterprises Ltd 519538 INDOFREBIO
Indusmin Foods Ltd 531128
Industrial Progressive (India) Ltd 526021
Jagdamba Foods Ltd 519578
Jasmina Industries Ltd 519271
Jhandewalas Foods Ltd 540850
K J International Ltd 519548 KJINTL
Kanaiya Foods(I) Ltd 519540
Kartikeya Agro Products Ltd 519435
Kesar Greenfield International Ltd 531967
KMG Milk Food Ltd 519415
Kohinoor Foods Ltd 512559 KOHINOOR
Kore Foods Ltd 500458 PHILCORP
Kothari Fermentation & Biochem Ltd 507474
Kovilpatti Lakshmi Roller Flour Mills Ltd 507598 KLRF
KRBL Ltd 530813 KRBL
KSE Ltd 519421 KSE
Kutch Salt & Allied Industries Ltd 506540
Kwality Ltd 531882 KWALITY
Lakshmi Energy & Foods Ltd 519570 LAKSHMIEFL
Lilac Exports Ltd 519608
Lotte India Corporation Ltd 590004 LOTTEINDIA
Lotus Chocolate Company Ltd 523475
Madhur Industries Ltd 519279 MADHURFOOD
Mahaan Foods Ltd 519612
Mahavira Foods Ltd 519433
Manpasand Beverages Ltd 539207 MANPASAND
Mansarovar Bottling Company Ltd (Merged) 519094
Maxworth Orchards (India) Ltd 500272 MARUTIORGN
Maxworth Orchards International Ltd (Wound-up) 531296
Megastar Foods Ltd 541352
Mehar Dairy Industries Ltd 519379 THAPARMILK
Milk Partners India Ltd 519335
Milk Specialities Ltd 519403
Milkfood Ltd 507621
Mishtann Foods Ltd 539594
Modern Dairies Ltd 519287
Mount Everest Mineral Water Ltd 531096
N P Chewing Gums Ltd 519081
Nakoda Group of Industries Ltd 541418
Narmada Agrobase Ltd 535072 NARMADA
Natura Hue Chem Ltd 531834
Natural Expo Agro Industries Ltd 530671
Naturite Agro Products Ltd 538926
NHC Foods Ltd 517554
Nijjer Agro Foods Ltd 519168
Nikumbh Dairy Products Ltd 519264
Nimbus Foods Industries Ltd 531598
Oceanic Foods Ltd 540405
Orient Vegetexpo Ltd 519564
Oswal Agro Furane Ltd 500316 OSWALAGFUR
Ovobel Foods Ltd 530741
Parag Milk Foods Ltd 539889 PARAGMILK
Pioneer Cashew Industries Ltd 531264
Prabhat Dairy Ltd 539351 PRABHAT
Prataap Snacks Ltd 540724 DIAMONDYD
R T Exports Ltd 512565
Raghuvansh Agrofarms Ltd 538921
Rajhans Foods Ltd 531193
Ravalgaon Sugar Farm Ltd 507300 RAVALSUGAR
RCL Foods Ltd 530923
RCL Retail Ltd 534708
Ready Foods Ltd 519250 READYFOOD
Regent Agro Products Ltd 531848
REI Agro Ltd 532106 REIAGROLTD
Reil Products Ltd (Liquidated) 519524 REILPROD
Rishabh Agro Industries Ltd 519277
Rishabh Food Products Ltd 519179
Riverdale Foods Ltd 530157
RMI Foods Ltd 519375
Saboo Sodium Chloro Ltd 530461
Sahas Agro Ltd 519526
Salstar Foods & Beverages Ltd 519075
Sampre Nutritions Ltd 530617
Sanwaria Consumer Ltd 519260 SANWARIA
Saptarishi Agro Industries Ltd 519238
Sarveshwar Foods Ltd 535054 SARVESHWAR
Sathe Biscuit & Chocolate Co Ltd 507650
Shah Foods Ltd 519031
Shanti Overseas (India) Ltd 538443 SHANTI
Sheetal Cool Products Ltd 540757
Shiva Egg Products Ltd (Wound-up) 530995
Shri Vardhman Overseas Ltd 512610
Siddhivinayak Dairy & Food Products Ltd 531231
Sita Shree Food Products Ltd 532961 SITASHREE
SKM Egg Products Export (India) Ltd 532143 SKMEGGPROD
Soni Soya Products Ltd 535069 SONISOYA
South Asian Mushroom Ltd 531948
Sparkle Foods Ltd 531313
Spectrum Foods Ltd 531982
Sri Skandan Industries Ltd 531604
Sugam Agro-Tech Ltd 531405
Sunil Agro Foods Ltd 530953
Super Bakers (India) Ltd 530735
Supplementary Foods (India) Ltd 519236
SYP Agro Foods Ltd 519313
Tanvi Foods (India) Ltd 540332
Tarai Foods Ltd 519285
Tasty Bite Eatables Ltd 519091 TASTYBITE
Tasty Dairy Specialities Ltd 540955
Temptation Foods Ltd 519228
Thapar Foods Ltd 519162
Trans Agro Tech Ltd 530527
Trans Techno Foods Ltd 519496
Transglobe Foods Ltd 519367
Tricom Fruit Products Ltd 531716
Tropical Orchards & Aqua Products Ltd 40250
UFM Industries Ltd 531610
Umang Dairies Ltd 500231 UMANGDAIRY
Unified Agro Industries Ltd 519582
Unique Organics Ltd 530997
Universal Vita Alimentare Ltd 519204
Usher Agro Ltd 532765 USHERAGRO
Vadilal Dairy International Ltd 519451
Vadilal Industries Ltd 519156 VADILALIND
Varun Beverages Ltd 540180 VBL
Vidiani Agrotech Industries Ltd 526453 VIDANIAGRO
Vikas Wsp Ltd 519307 VIKASWSP
Vinsari Fruitech Ltd 532020
Vintage Foods & Industries Ltd 531940
Virat Crane Industries Ltd 519457
Vishal Agritech India Ltd 531596
Vishal Lakto (India) Ltd 519252
Vishnupriya Agro Industries Ltd 512002
Vital Foods Ltd 523501
Western Foods Ltd 519558
Western Fruit & Vegetable Ltd 519321
Winfarm Agro Industries Ltd 519381
Zydus Wellness Ltd 531335 ZYDUSWELL

Share Holding

Category No. of shares Percentage
Total Foreign 16727869 5.23
Total Institutions 25583087 8.00
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 7556748 2.36
Total Promoters 179660589 56.17
Total Public & others 90316487 28.23
Total 319844780 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About L T Foods Ltd

LT Foods Ltd is an India-based company. The company is engaged in the manufacture and sale of rice under the brand DAAWAT. They also manufacture and market parboiled rice. Their product is marketed in more than 50 countries. The company's brand portfolio includes DAAWAT Traditional Basmati Rice, DAAWAT Biryani Basmati Rice, DAAWAT Pulav Basmati Rice, DAAWAT Super Basmati Rice and DAAWAT Rozana. Their product portfolio also includes brown rice, white rice, steamed rice, parboiled rice and organic rice. Their product range includes Select, Gold Basmati Rice, Super, Chef's Secretz, Rozana, Devaaya Basmati Rice, Brown Rice, and Heritage. LT Foods Ltd was incorporated on October 16, 1990 as a private limited company with the name LT Overseas Pvt Ltd. In the year 1993, the company started their operations using certain processing facilities of Lal Chand Tirath Ram Rice Mills (LCTRRM), an associate concern, on lease. In the year 1993, they got their registration as manufacturer exporter from APEDA. In May 3, 1994, the company was converted into a public limited company and the name was changed to LT Overseas Ltd. During the year 1994-95, the company filed the draft prospectus with SEBI and Stock Exchanges in Mumbai, Delhi, Jaipur and Ahmedabad. The object of the issue was to part finance the expansion programme for setting up a milling plant with a capacity of 2 MTPH. They received the observation letter from SEBI but they did not take the matter forward on account of the then prevailing poor conditions in the capital markets. In the year 1995, the company set up milling capacity (paddy to rice) of 4 MTPH, at Sonepat. During the year 1995-96, the company registered the brand 'DAAWAT' in United States of America. During the year 1997-98, they received 'APEDA Export award' for outstanding contribution to promotion of agricultural and processed food products during the year 1996-97. In March 26, 1999, they took over the business of Lal Chand Tirath Ram Rice Mills having milling capacity of 6 MTPH, thus increasing the total milling capacity to 10 MTPH. During the year 1999-2000, the company was recognized as Star Trading House by Government of India. They launched the brand 'DAAWAT' in Mauritius, Saudi Arabia and New Zealand. They started setting up a new manufacturing facility at Bahalgarh, Haryana and in December 2000, they commenced commercial production. During the next two years, they launched the brand 'DAAWAT' in Australia and Canada. During the year 2002-03, the company increased the capacity in Bahalgarh unit from 4 TPH to 10 TPH, making the total capacity to 16 MTPH. During the year 2003-04, they received Award from APEDA for export promotion and quality development of Basmati Rice. During the year 2004-05, the company increased the capacity in Bahalgarh unit from 10 TPH to 12 TPH, making the total capacity to 18 MTPH. Also, they received India Star Award from Indian Institute of Packaging during the year. During the year 2006-07, the company increased the total production capacity from 18 MTPH to 27 MTPH. Also, they inaugurated the Silos Complex during the year. During the year 2007-08, the company set up a state of the art plant at Mandideep, Bhopal (MP). The production capacity of the company's main plant at Bahalgarh was increased from 27 MTPH to 33 MTPH. With this addition, the total capacity increased to 50.50 MTPH. Also, they started Sales Depot operation in Chennai, to provide better services to our esteem customers of Tamil Nadu state. During the year, the company invested in LT Infotech (P) Ltd which is in to the business of telecommunication and which has entered in to a joint venture with Cordia International. In December 2007, the company's wholly owned subsidiary LTO North America Inc acquired Kusha Inc, a largest distribution company in U.S. with the brand name 'ROYAL'. With this acquisition, the company increased their market share in the US market from 7% to 52%. During the year 2008-09, the company incorporated LT Agri Services Pvt Ltd as a Wholly Owned Subsidiary of Daawat Foods Ltd. In September 25, 2008, the name of the company was changed from LT Overseas Ltd to LT Foods Ltd to match the vision of the company of becoming a Leading Global Food Company. The company was conferred with APEDA Export Award in this year for the performance pertaining to year 2007-08. Also, Daawat Foods Ltd, a wholly owned subsidiary company received Export Excellence award for their excellence in operations and export by State of Madhya Pradesh in their first full year of operations. During the year 2009-10, the company bagged the 'Wheat Silos Project' on Build-Own-Operate (BOO) basis for a period of 30 years from Punjab State Grains Procurement Corporation Ltd, Government of Punjab for storage and handling of 50,000 MT of wheat. The company's flagship brand, 'Daawat' increased its presence across the length and breadth of the country. The company, together with their subsidiary companies, is embarking on new food products like Fast Cooking Brown Rice, Rice Cakes, Rice Chips and several rice based snacks. The company is also exploring other segments in the food industry in addition to contemplating line extensions in order to pursue sustainable growth.

L T Foods Ltd Chairman Speech

We are building a sustainable business and contributing to a healthier future for all

Dear Shareowners,

The year gone by began on a promising note for the world economy, but a3er a few months the momentum began to peter out. The deceleration was the result of several factors such as rising crude prices, US-China trade stando3, disruptions in the German auto sector, tariff warfare among major nations, threats of protectionism, along with greater policy ambiguity.

Although the country's GDP growth declined to 6.8% in FY2018-19 from 7.2% in FY2017-18, the overall economic outlook is largely positive. The economy now is in a state of formalisation and consolidation with strong transitional undercurrents, which are acting as a force multiplier.

The country's economy is primarily steered by its predominantly young and aspiring population, greater affinity towards brands and premiumisation, faster urbanisation and infrastructure creation and above all enhanced ease of doing business. These trends augur well for our business. It is also pertinent to mention in this context that the rapid rollout of contemporary retail format stores and stronger marketing efforts by companies have facilitated the growth of basmati rice consumption in the domestic market. The outlook for the domestic basmati rice consumption is favourable, supported by demand improvement from the international market and potential upside from branded demand/premiumisation in domestic markets.

To give you a perspective, basmati rice exports from India reached `32,000 crore during FY2018-19. As one of India's leading basmati rice exporters, we are confident that the future roadmap continues to hold out considerable optimism. Against this general positive backdrop, let us now try to evaluate our performance for FY2018-19 and try to identify our growth pivots, which will drive our organisation to the next level of value creation.

Sustainable growth in India

It is gratifying to report another year of encouraging performance. Revenue grew by 7% to 33,915 crore in FY2018-19 from 33,650 crore in FY2017-18. Our leading brands such as Daawat, Heritage, Rozana, Devaaya, etc. in India as well as Royal, Gold Seal Indus Valley, 817 Elephant globally contributed to this growth. We delivered an EBITDA of 3421 crore in FY2018-19 as against 3414 crore in FY2017-18. Additionally, our profit a3er tax stood at 3137 crore in FY2018-19 as against 3144 crore in FY2017-18. Our revenue from basmati exports stood at 32,103 crore in FY2018-19 as compared to 31,896 crore in FY2017-18, up by 11%. We further strengthened our presence across India as well as in international markets by continuously investing in brands that accounted for greater market share across categories.

The overall demand for basmati rice continues to be high and we are well positioned to capitalise on this growth opportunity. Our branded business in India recorded sales of 3947 crore in FY2018-19 as compared to 3892 crore in FY2017-18 owing to improved realisations from branded products. Moreover, our consumer pack business reported a growth of 8% to 31,941 crore in FY2018-19 as compared to 31,794 crore in FY2017-18.

We firmly believe in the idea of keeping pace with changing consumer needs and preferences. Therefore, in addition to growing the basmati rice business over the years, we have leveraged our brand to foray into the segment of value-added products (VAP). Our offerings comprise specialty rice across di3erence price points, as well as organic food, saut sauces, rice-based snacks and rice-based convenience products. We successfully launched premium rice-based snacks brand ‘Kari Kari' for the Indian market with JV partner, Kameda Seika. We are setting up a unit in Haryana and expect commercial production of Kari Kari offerings to start during FY2019-20. We are going to launch Daawat Saut Sauces to offer greater convenience to consumers by ensuring its availability across all important towns in India in addition to major e-commerce platforms a3er successful test launch for one year in selected geographies.

Accelerating global endeavours

Our capabilities in the US and the EU improved as a result of greater market penetration. We are solidifying our presence in other regions across the Middle East and Africa through organic and inorganic routes. Our overall international business touched 32,103 crore in FY2018-19 as against 31,896 crore in FY2017-18. North America has been one of the strongest international markets for us, where the brand ‘Royal' contributes significantly to overall branded revenues and takes up 45%+ of the US market. Further, the acquisition of the 817 Elephant brand has enabled us to achieve leadership position in Canada. During the year under review, Daawat gained leadership position in Israel and Reunion Island, among others.

We have introduced a range of new, organic ready-to-heat (RTH) products for the overseas market with a facility in the US. The new RTH foods facility in Houston, US, manufactures 2-minute retort rice in order to fortify our footprint in the high potential market. Our processing and packaging facility in Europe is scaling up and will serve rising demand across the continent. In Europe, we grew our ethnic business and added new supermarket customers for our private label. We launched new avatar of Daawat in the UK and Europe across all price segments with enhanced focus on the catering and consumer channels. All our brands are performing well across geographies and we will make greater efforts to nurture them and leverage their potential and distribution globally.

Growth avenues

Our subsidiary Nature Bio Foods Ltd. (NBFL) has secured equity funding from Rabobank's India Agri Business Fund II with a proposed investment of `140 crore. NBFL received the first tranche of `60 crore in FY2018-19. The second tranche is expected to come in FY2019-20.

Continued support from India Agri Business Fund reflects strong confidence in the management's strategic growth outlook. These capabilities created in the backend under the global organic food ingredients business are likely to support our growth operations across the world.

Research collaborations

We are focused on the next level of innovation. We signed a memorandum of understanding (MoU) with Wageningen Food & Biobased Research (WFBR), Netherlands, to promote co-operation in the field of research and education. Our collaboration will help accelerate the progress of research, education and training in various research disciplines to strengthen the best practices followed by us at farm level for procurement of paddy and improve compliance with MRL standards in line with global requirements. With our wide customer base both in India and international markets, we will benefit from the exchange of innovative technologies that will aid in better alignment with global food/produce standards. The agreement will also enable us and WFBR to encourage and establish exchange of collaborative scientific research.

Team counts

We believe our success is the outcome of the efficiency of our people and it is their expertise, experience and enthusiasm that drive us. With a congenial work culture, a focus on learning and development—that help our people sharpen their skills with focused training initiatives—and a proven reward and recognition programme, we nurture our people and help them grow in the organisation.

Caring for community

We believe in sustainable co-existence with communities around us, with focus on enhancing their quality of life. LT Foods Limited CSR policy and Fair Farming Foundation (supported with fair trade and social development fund, along with CSR Fund) represent our twin social engagement programmes, which help us address the requirements of communities in our vicinity. We continue to develop rural infrastructure and improve the quality of education in rural schools.

Future perfect

We have rolled out a five-year roadmap with an eye on the future. Our objective is to be a preferred brand for our consumers across geographies. We would also like to remain category leaders in key markets and continue to outperform industry growth. We are keeping consistent focus on building scale, enhancing procurement efficiencies, improving manufacturing yield and improving operating efficiencies along with solidifying our brands across geographies. Going forward, our market leadership will be clearly driven by higher margins and profitability. With your help and support, we will continue to strengthen our business with a broader sustainability agenda and contribute to a healthier future for all.

Warm regards
Vijay Kumar Arora Ashwani Kumar Arora
Chairman Chief Executive Officer &
Managing Director

   

L T Foods Ltd Company History

LT Foods Ltd is an India-based company. The company is engaged in the manufacture and sale of rice under the brand DAAWAT. They also manufacture and market parboiled rice. Their product is marketed in more than 50 countries. The company's brand portfolio includes DAAWAT Traditional Basmati Rice, DAAWAT Biryani Basmati Rice, DAAWAT Pulav Basmati Rice, DAAWAT Super Basmati Rice and DAAWAT Rozana. Their product portfolio also includes brown rice, white rice, steamed rice, parboiled rice and organic rice. Their product range includes Select, Gold Basmati Rice, Super, Chef's Secretz, Rozana, Devaaya Basmati Rice, Brown Rice, and Heritage. LT Foods Ltd was incorporated on October 16, 1990 as a private limited company with the name LT Overseas Pvt Ltd. In the year 1993, the company started their operations using certain processing facilities of Lal Chand Tirath Ram Rice Mills (LCTRRM), an associate concern, on lease. In the year 1993, they got their registration as manufacturer exporter from APEDA. In May 3, 1994, the company was converted into a public limited company and the name was changed to LT Overseas Ltd. During the year 1994-95, the company filed the draft prospectus with SEBI and Stock Exchanges in Mumbai, Delhi, Jaipur and Ahmedabad. The object of the issue was to part finance the expansion programme for setting up a milling plant with a capacity of 2 MTPH. They received the observation letter from SEBI but they did not take the matter forward on account of the then prevailing poor conditions in the capital markets. In the year 1995, the company set up milling capacity (paddy to rice) of 4 MTPH, at Sonepat. During the year 1995-96, the company registered the brand 'DAAWAT' in United States of America. During the year 1997-98, they received 'APEDA Export award' for outstanding contribution to promotion of agricultural and processed food products during the year 1996-97. In March 26, 1999, they took over the business of Lal Chand Tirath Ram Rice Mills having milling capacity of 6 MTPH, thus increasing the total milling capacity to 10 MTPH. During the year 1999-2000, the company was recognized as Star Trading House by Government of India. They launched the brand 'DAAWAT' in Mauritius, Saudi Arabia and New Zealand. They started setting up a new manufacturing facility at Bahalgarh, Haryana and in December 2000, they commenced commercial production. During the next two years, they launched the brand 'DAAWAT' in Australia and Canada. During the year 2002-03, the company increased the capacity in Bahalgarh unit from 4 TPH to 10 TPH, making the total capacity to 16 MTPH. During the year 2003-04, they received Award from APEDA for export promotion and quality development of Basmati Rice. During the year 2004-05, the company increased the capacity in Bahalgarh unit from 10 TPH to 12 TPH, making the total capacity to 18 MTPH. Also, they received India Star Award from Indian Institute of Packaging during the year. During the year 2006-07, the company increased the total production capacity from 18 MTPH to 27 MTPH. Also, they inaugurated the Silos Complex during the year. During the year 2007-08, the company set up a state of the art plant at Mandideep, Bhopal (MP). The production capacity of the company's main plant at Bahalgarh was increased from 27 MTPH to 33 MTPH. With this addition, the total capacity increased to 50.50 MTPH. Also, they started Sales Depot operation in Chennai, to provide better services to our esteem customers of Tamil Nadu state. During the year, the company invested in LT Infotech (P) Ltd which is in to the business of telecommunication and which has entered in to a joint venture with Cordia International. In December 2007, the company's wholly owned subsidiary LTO North America Inc acquired Kusha Inc, a largest distribution company in U.S. with the brand name 'ROYAL'. With this acquisition, the company increased their market share in the US market from 7% to 52%. During the year 2008-09, the company incorporated LT Agri Services Pvt Ltd as a Wholly Owned Subsidiary of Daawat Foods Ltd. In September 25, 2008, the name of the company was changed from LT Overseas Ltd to LT Foods Ltd to match the vision of the company of becoming a Leading Global Food Company. The company was conferred with APEDA Export Award in this year for the performance pertaining to year 2007-08. Also, Daawat Foods Ltd, a wholly owned subsidiary company received Export Excellence award for their excellence in operations and export by State of Madhya Pradesh in their first full year of operations. During the year 2009-10, the company bagged the 'Wheat Silos Project' on Build-Own-Operate (BOO) basis for a period of 30 years from Punjab State Grains Procurement Corporation Ltd, Government of Punjab for storage and handling of 50,000 MT of wheat. The company's flagship brand, 'Daawat' increased its presence across the length and breadth of the country. The company, together with their subsidiary companies, is embarking on new food products like Fast Cooking Brown Rice, Rice Cakes, Rice Chips and several rice based snacks. The company is also exploring other segments in the food industry in addition to contemplating line extensions in order to pursue sustainable growth.

L T Foods Ltd Directors Reports

To,

The Members,

Your Directors have pleasure in presenting their 28th Annual Report on the business and operations of the Company and the accounts forthe Financial Year ended March 31,2018.

1. Financial Performance of the Company (Standalone)

(Rs. In Lakhs)

Particulars Financial Year (2017-18) Financial Year (2016-17)
Gross Income 215,665.84 207,606.04
Profit Before Interest and Depreciation 15,697.02 17,741.71
Finance Charges 8,529.51 10,660.02
Gross Profit 39,967.55 39,723.47
Provision for Depreciation 1,810.23 2,339.49
Net Profit Before Tax 5,357.28 4,742.20
Net Profit After Tax 4,195.54 2,989.89
Balance of Profit brought forward 26,328.57 23,784.87
Balance available for appropriation 29,917.82 26,328.57
Proposed Dividend on Equity Shares 400.12 401.87
Taxon proposed Dividend 81.45 81.42
Transfer to General Reserve Nil Nil
Surplus carried to Balance Sheet 29,917.82 26,328.57

2. Company's working during the year

On standalone basis, our total revenue stood at Rs. 2,157 Crores higher by 4% year-on-year. The gross profit stood at Rs. 400 Crores. Profit after tax stood at Rs. 42 Crores as compared to Rs. 30 Crores in financial year 2017, representing a growth of40%year-on-year.This led to resultant EPS of Rs. 1.49 per share by 33%. EPS is based on fully diluted basis adjusted for the stock split from Rs. 10 per share to Rs. 1 per share.

Our total revenue stood at Rs. 3,650 Crores higher by 11% year-on-year driven by higher contribution of branded sales. The gross profit increased by 11% to Rs. 979 Crores. EBITDA came in at Rs. 414 Crores, an increase of 2% on year-on-year basis translating to EBITDA margin to

11.3% as compared to 12.3% in the last year.

Our profit before tax during the year increased by 12% to Rs. 218 Crores led by lower interest cost and depreciation. Profit after tax stood at Rs. 144 Crores as compared to Rs. 129 Crores in financial year 2017, representing a growth of 12%. This led to resultant improvement in EPS to Rs. 4.80 per share. EPS is based on fully diluted basis adjusted for stock split from Rs. 10 per share to Rs. 1 per share. Moving on geographical revenue and realization breakup branded India sales stood at Rs. 892 Crores up by 13% year-on-year while the average realization during the year increased to Rs. 51 per kg resulting in an increase of 18%. International branded sales came in at Rs. 1,238 Crores a growth of 23% while the average realization increased to Rs. 96 per kg higher by 5%.

One of the growth driver of our business is our organic business, which has also grown by 50% in Financial Year 2018.

The focus has been on strengthening the consumer business both in India and international market, which is depicted in the overall growth of our consumer business that is 21 %.

Our branded business has grown by 18% in value terms on year-on-year basis in financial year 2017-18 that was primarily driven by an increase of 13% in India and 23% in International branded business respectively.

The contribution of branded business to overall rice business has increased from 64% to 69% in financial year 2017-2018 driven by consistent brand investments, strengthening the supply chain, adopting channel wise strategy to strengthen out footprint in all the channels, be it the general trade, modern trade or wholesale or online business.

Organic business contribution has increased from 7% to 10% on year-on-year basis and stands at Rs. 361 Crores. The Company has added a new product line, a new customer across Europe and USA for organic business.

Our credit rating has also been upgraded by CRISIL to A-/ Positive outlook from BBB+/ Positive outlook.

3. Change in the nature of business, if any-

During the current year, there has been no major change in the business.

4. Dividend

The Board of Directors has recommended 15% dividend forthe financial year 2017-18 and decided to retain backthe remaining earnings.

5. Reserves

Out of the amount available for appropriation. Company's Directors proposed to transfer Rs. NIL amount to General Reserve and retain Rs. 29,917.82 Lakhs to Profit and Loss Account.

6. Share Capital

During the Financial year 2017-18, the Company has allotted 1,12,910 Equity Shares to employee of the company who was eligible for allotment under the Employee Stock Option Plan-2010.

Further, the Company has also made allotment of 53,100,000 Equity Shares through the Qualified Institutional Placement (QIP) at price of Rs. 75.20 per Equity Shares on 26th December 2017. Pursuant to the said allotment of Equity Shares, the paid up share capital of the company stands increased to Rs. 31,98,44,780/- comprising of 31,98,44,780 Equity Shares of Rs. 1 each.

7. Details of Directors and Key Managerial Personnel Appointed and Resigned during the year

There were no Director and Key Managerial Personnel has been appointed during the year how ever the details of the Director resigned during the year is as follows:-

Name of the Person Designation Appointment/Resignation Date of Appointment / Resignation
Adesh Kumar Gupta Independent Director Resignation 26/05/2017

8. Particulars of Employees & Employee Remuneration

Pursuant to the Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2016,The information required is as follows.

Managerial Remuneration:

1. Ratio of remuneration of each director to median remuneration of employees
Vijay Kumar Arora 1:33
Ashwani Kumar Arora 1:33
Surinder Kumar Arora 1:26
2. Percentage increase in remuneration of each director and KMPs
Vijay Kumar Arora Nil
Surinder Kumar Arora Nil
Ashwani Kumar Arora Nil
Monika Chawla Jaggia 70%
3. Percentage increase in the median remuneration of employees 10%
4. Number of permanent employees 896
5. Average percentile increase in salary of employees, other than managerial personnel, comparison with percentile increase in managerial remuneration and justification 9%
Managerial Increase 5%
Non Managerial Increase 10%
6. Affirmation that the remuneration is as per the remuneration policy of the Company Yes

As per rule 5(3) of Companies (Appointment and Remuneration) Rules, 2014, the employees who draw salary exceeding the limits of Rs. 1.02 Crore is as follows:

Name Designation Remuneration (in crores) Nature of employment Qualification Experience Age Last

employment

% of shares held
Vijay Kumar Arora Managing

Director

1.69 Permanent B.Sc. 42 60 NA 7.98
Surinder Kumar Arora Managing

Director

0.59 Permanent Under

Graduate

36 56 NA 7.98
Ashwani Kumar Arora Managing

Director

0.98 Permanent B COM 30 51 NA 7.98

9. Board Meetings

During the Year, seven board Meetings were held, the dates on which these meeting were held are 25th May, 2017,10th August 2017,3rd October, 2017,14th November, 2017,26th December 2017,08th February, 2018 and 30th March, 2018. The details of the same given in the Corporate Governance Report. The intervening gap between the meetings was within the period prescribed under the Companies Act, 2013.

10. Performance Evaluation

In pursuance of Section 178 of the Companies Act, 2013 read with Regulation 4(2), 17(10) and 19(4) read with Schedule II Part D of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015 and Secretarial Standards-I, the Nomination and Remuneration Committee has framed the evaluation process and the performance evaluation of Independent Directors, Executive Directors and of Board as a whole as well as working of its Audit, Nomination & Remuneration and Compliance Committees has been carried out during the financial year 2017-18.

The Independent Directors of the Company met Separately on 08th February, 2018 without the presence of Non-Independent Directors and inter-alia reviewed the performance of the members of management, Non- Independent Directors, Board as a whole performance of the Chairman of the Company and the Committees after taking into consideration the views of Executive and Non- Executive Directors.

In compliance with the provisions of SEBI Listing Regulations, the Board of Directors has also carried out evaluation of every Independent Director's performance during the year. The Board members had submitted to Nomination and Remuneration Committee, their response on a scale from 5 to 1 (Excellent to Performance Needs Improvement) for evaluating the entire Board, respective Committees including Chairman of the Board.

The Nomination and Remuneration Committee has also carried out evaluation of every Director's performance.

The Directors had duly completed with the evaluation process.

It was further acknowledged that every individual Member and Committee of the Board has contributed best in the growth to the organization.

11. Statement of Declaration by an Independent Director(s) and re- appointment, if any

All the Independent directors have given their Independency declaration as provided in sub-section (6) of Section 149 of the Companies Act, 2013.

12. Remuneration Policy

The Company has framed the Remuneration Policy in compliance with Section 178 of the Companies Act, 2013 read along with the applicable rules and Regulation 19 of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015. The remuneration policy of the Company is in compliance of Section 178 (4) of the Companies Act, 2013. The Remuneration policy can be referred to the weblink http:// www.ltgroup.in/pdf/LT-Foods-Remuneration-Policy.pdf

The salient features of Remuneration policy are as follows: -To formulate a criteria for determining qualifications, positive attributes and independence of a Director -To recommend to the Board, the appointment and removal of Senior Management

-To carry out evaluation of Director's performance and recommend to the Board appointment/ removal based on his/ her performance.

- To recommend to the Board on (i) policy relating to remuneration for Directors, Key Managerial Personnel and Senior Management and (ii) Executive Directors' remuneration and incentive

-To make recommendations to the Board concerning any matters relating to the continuation in office of any Director at any time including the suspension or termination of service of an Executive Director as an employee of the Company subject to the provision of the law and their service contract;

- Ensure that level and composition of remuneration is reasonable and sufficient, relationship of remuneration to performance is clear and meets appropriate performance benchmarks,

-To devise a policy on Board diversity

-To develop a succession plan for the Board with segregated succession readiness of the management council and executive.

13. Details of Subsidiary/Joint Ventures/Associate Companies

Pursuant to sub-section (3) of Section 129 of the Act, the statement containing salient features of the financial statement of Company's subsidiaries, associate or joint venture is given as Annexure-V [Performance and financial position of each of the subsidiaries, associates and joint venture companies included in the consolidated financial statement]

During the year, the Company generated a revenue of Rs. 3,650 Crores at group level. Its subsidiaries played a major role in contirbuting to the overall revenue. LT Foods Americas (formerly known as Kusha Inc, the fellow subsidiary of the Company contributed approx 29% to the overall revenue. The organic arm NBFL, a wholly owned subsidiary contributed approx. 10% to the group revenue.

Further, the Annual Accounts and related documents of the subsidiary Company shall be kept open for inspection at the registered & Corporate Office ofthe Company. The Company shall also make available copy thereof upon specific request by any member of the Company interested in obtaining the same. Further, pursuant to Accounting Standard AS- 21 issued by the Institute of Chartered Accountants of India, Consolidated Financial Statements presented by the Company in this Annual Report include the financial information of its subsidiary.

Name of the Companies, which became or have ceased to became as Subsidiaries/Joint Ventures/Associates Companies during the year.

During the year, the Company acquired 100% stake of Deva Sing Sham Singh Export Private Limited which has become the wholly-owned subsidiary of the Company. Company also acquired 92% Stake of M/s Raghunath Agro Industries Private Limited from its another subsidiary namely Daawat Foods Limited.

14. Auditors

M/s. Walker Chandiok & Co. LLP, Chartered Accountants were appointed as Statutory Auditors of your Company at the Annual General Meeting held on 18th September, 2015, for a term of five consecutive years. As per the provisions of Section 139 of the Companies Act, 2013, the appointment of Auditors is required to be ratified by Members at every Annual General Meeting.

Flowever, in accordance with the Companies Amendment Act, 2017, enforced on 7th May, 2018 by the Ministry of Corporate Affairs, the appointment of Statutory Auditors is not required to be ratified at every Annual General Meeting

The Auditor has confirmed that they are not disqualified under any provisions of Section 141(3) of Companies Act, 2013 and also their engagement with the company is within the prescribed limits under section 141 (3)(g) of Companies Act, 2013

15. Auditors Report

The Auditors' Report does not contain any qualification. Notes to Accounts and Auditors remarks in their report are self-explanatory and do not call for any further comments.

They have been no instances of fraud reported by the Statutory Auditors under Section-143(12) ofthe Companies Act, 2013 read with rules framed thereunder, either to the Company or to the Central Government.

16. Audit Committee

In pursuance of Section 177 of the Companies Act, 2013 read with regulation 18 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has constituted the Audit Committee and the details in respect of the composition of Audit Committee of the Company is given in Corporate Governance Report ofthe Company.

17. Secretarial Audit Report

In terms of Section 204 of the Act and Rules made there under, M/s. D Dixit & Associates, Practicing Company Secretary has been appointed as Secretarial Auditors ofthe Company. The report ofthe Secretarial Auditors is enclosed as Annexure IV to this report. The point-wise comments are enumerated as follows.

Reply to the observations in the Secretarial Audit

1) Delay in Filing Forms

Due to the oversight, the Company has delayed in filing some of the forms in prescribed time frame of Companies Act, 2013 and applicable additional fees has already been paid to Ministry of Corporate Affairs.

2) CSR Spent

The Company has not spent the entire amount on CSR. In the coming years, it will spend the entire amount allocated for the year in compliance with Section-135 ofthe Companies Act, 2013.

3) Related Party Transactions exceeding the limits approved by Shareholders

The shareholders approved all the proposed material related party transactions in the AGM held on 19th September, 2017 however the actual transactions were in excess of those approved. The Board of Directors has already proposed to ratify the same in the AGM scheduled to be held on 24th September 2018.

4) Delay in filling of APR

The Company has already filed the necessary forms with RBI.

5) Gratuity Payment to Ex-employee

The Company has already paid gratuity to ex-employee

18. Internal Audit & Controls

In terms of compliance of Section 138 of the Companies Act, 2013 read with the Companies (Accounts) rules, 2014, the Company continues to engage Pro Advisory India LLP as its Internal Auditors. During the year, the Company continued to implement their suggestions and recommendations to improve the control environment. Their scope of work includes review of processes for safeguarding the assets of the Company, review of operational efficiency, effectiveness of systems and processes, and assessing the internal control strengths in all areas. Internal Auditors findings are discussed with the process owners and suitable corrective actions taken as per the directions of Audit Committee on an ongoing basis to improve efficiency in operations.

19. Issue of employee stock options

The details of ESOP as per rule 12 (9) of Companies (Share Capital and Debentures) Rules, 2014 are as follows:

Particulars Option 1 Option 2
Approval 6,483,290 2,012,090
Options granted 6,483,290 2,012,090
Options vested 6,483,290 2,012,090
Options exercised 6,277,520 1,275,420
Total number of shares arising out of exercise of options 6,277,520 1,275,420
Options forfeited/lapsed/cancelled 205,770 736,670
Variations of terms of options NIL NIL
Money realized by exercise of options - 429,058
Total number of options in force - -

Notes: -

1. Details of options granted during the fiscal 2012 to:

Particulars
(a) Directors and key managerial personnel
1. Som Nath Chopra 46,318
2. Monika Chawla Jaggia 18,177
(b) Any other employee who received a grant in any one year of options amounting to 5% or more of the options granted during the year (includes employees and group Company employees) The following employees have received a grant in any one year of options amounting to 5% or more of the options granted during the year 2011-12

• Mr. S.K. Salhotra

 

• Mr. Som Nath Chopra

 

• Mr. Dipol Dhole

 

• Mr. Vijay Malik

 

• Mr. Vivek Chandra

 

• Mr. Vikram Patil

 

• Mr. Kamal Poplai

The following employees have received a grant in any one year of options amounting to 5% or more of the options granted during the year 2012-13
 

• Mr. Mukesh Aggarwal

 

• Mr. Sandeep Lamba

 

• Mr. Gerald Taylor

 

• Mr. Mrinal Mathur

(c) Identified employees who are granted options, during any one year equal to exceeding 1% of the issued capital (excluding outstanding warrants and conversions) of the Company at the time of grant None

20. Vigil Mechanism:

In pursuant to the provisions of Section 177(9) & (10) of the Companies Act, 2013, a Vigil Mechanism for Directors and employees to report genuine concerns has been established. The Vigil Mechanism Policy can be found on the following link www.ltgroup.in under investors/policy documents/Vigil Mechanism Policy on the website of the Company.

21. Risk Management Policy

LT has in place comprehensive risk assessment and minimization procedures, which are reviewed by the top management at regular intervals.

22. Extract of Annual Return:

Pursuant to the requirements of Section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies (Management and Administration) Rules, 2014, an extract of the annual return in MGT 9 has been made a part of this Annual Report as ANNEXURE I.The annual return can also be found on the following link www.ltgroup.in under investors updates http://ltgroup.in/pdf/Annual%20Return-2018.pdf on the website of the Company

23. Material changes and commitments, if any, affecting the financial position of the company which have occurred during the period beginning with end year of the company to which the financial statements relate and the date of the report

There have been no material changes in the business, which may affect financial position of the Company.

24. Details of significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and company's operations in future.

The Company has not received any significant or material orders passed by any regulatory authority, court or tribunal which shall impact the going concern status & Company's operations in future.

25. Details in respect of adequacy of internal financial controls with reference to the Financial Statements.

According to Section-134 (5) (e) of the Companies Act, 2013, the term Internal Financial Control (IFC) means the policies and procedures adopted by the Company for ensuring orderly and efficient conduct of its business including adherence to the Company's policies, the safeguarding of its assets, prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information.

The Company has a well placed internal financial control system which ensures that all assets are safeguarded and protected and that the transactions are authorized, recorded and reported correctly. The Company's internal financial control system also comprises due compliances with Company's policies and Standard Operating Procedures (SOPs) and auditand compliance by Internal Audit team. Pro Legal Advisory, India, LLP.

26. Deposits

The Company has neither accepted nor renewed any deposits falling under Chapter V of Companies Act, 2013.

27. Cost Record

The Central Government has not specified maintenance of cost record under section 148(1) of the Company Act, 2013 in respect of our Company's product.

28. Particulars of loans, guarantees or investments

The Company has not granted any loans falling within the preview of Section 186 of the Companies Act, 2013, however the details of Investments made and security or guarantee given are as follows:-

Details of Investments:-

Date of

o Investment

Details of Investee Amount - (In Lakhs) Purpose for which the proceeds from investment is proposed to be utilized by the recipient Date of

Board

resolution

Date of special resolution Expected rate of return
30.09.2017 Deva Singh Shyam Singh Exports Private Limited 1.00 Business Purpose 12.04.2017 N.A. N.A.
15.05.2017 Daawat Kameda India Private Limited 170.85 Business Purpose 12.04.2017 N.A. N.A.
31.03.2018 Raghunath Agro Industries Private Limited 2,110.38 Business Purpose 30.03.2018 N.A. N.A.

Details of Guarantee / Security Provided:

Details of recipient Amount (In Lakhs) Purpose for which the security/guarantee is proposed to be utilized by the recipient
Daawat Foods Limited 25,031.40 Working capital loan
Nature Bio Foods Limited 9,782.25 -do-
Raghunath Agro Industries Private Limited 6,870.89 -do-
LT Foods Europe BV 7,365.24 Working capital loan & Against plant and machinery

29. Particulars of contracts or arrangements with related parties:

The particulars of every contract or arrangements entered into by the Company with related parties referred to in subsection (1) of Section 188 of the Companies Act, 2013 are disclosed in Form No. AOC-2.With reference to Section 134(3) (h) of Companies Act, 2013 all contracts and arrangements with related parties under Section 188(1) entered by the Company during the financial year are in ordinary course of business and on arms length basis.

30. Corporate Governance Certificate

The report on Corporate Governance as stipulated under Regulation 34(3) read with Para C of Schedule)/ of the Listing Regulations is presented in a separate section forming part of this Annual Report.

A Certificate from the Practicing Company Secretary CS Debasis Dixit, regarding compliance of the conditions of corporate governance as stipulated in Regulation 27 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015 is annexed to the report.

31. Management Discussion and Analysis

The Management Discussion and Analysis Report prepared in accordance with the Regulation 34(2)(e) of Listing Regulations forms part of this Annual Report for the year ended 31 st March, 2018.

32. Obligation of Company under the sexual harassment of women at workplace (Prevention, prohibition and redressal) Act, 2013.

In order to prevent sexual harassment of women at work place a new Act The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 has been notified on 9th December, 2013. Under the said Act, every Company is required to set up an Internal Complaints Committee to look into the complaints relating to sexual harassment at work place of any women employee.

The Company has adopted a policy for prevention of sexual harassment of Women at workplace and has set up Committee for implementation of said policy. During the year. Company has not received any complaint of harassment.

33. Conservation of energy, technology absorption and foreign exchange earnings and outgo

The details of conservation of energy, technology absorption, foreign exchange earnings and outgo are as follows:

Conservation of energy

The Company continued to place major emphasis on Conservation of Energy and the measures taken in previous year were continued. The efficiency of energy utilization is being monitored in every Quarter in order to achieve effective conservation of energy.

We at, LT has taken several initiatives towards this direction and have been working both towards energy conservation and new technology absorption.

Energy Conservation

• All plant lightning has been replaced with LED that are comparatively more energy efficient as the power consumption drops to approx. 60% in comparison to incandescent lamps. Moreover it also reduces the maintenance cost of lightning due to increased life span.

• Working towards deployment of alternate source of energy, LT has installed 500KW Solar plant under the OPEX model.

• Plant leakages have been plugged to control air and steam loss in the process which indirectly effects energy consumption.

Technology Absorption

• New state of art parboiling plant has been set up at Bahalgarh thereby adding to the overall plant capacity.

• Old inefficient color sorters were replaced with new technology sorters thereby reducing the overall rejection in final product.

• LT being the pioneer in Rice industry installed X-Ray before the final packing to reduce foreign matter in the final product. In the fiscal 2017-18, the number of X-Rays was increased by addition to other packing lines as well.

Technology Imported

• In a list of imported technologies. LT has high precision X-Rays and Color sorters in addition to high capacity milling and cleaning machines.

• To improve the customer base in consumer pack division, LT Foods has been continuously adding to its capacity by installation of new FFS machines.

Power & Fuel Consumption (Bahalgarh Plant)

Particulars 2017-181 2016-17
ELECTRICITY
Through Purchases
Units 16,482,612p 15,357,320
Total Amount ( Rs. ) 131,829,567 P 125,704,991
Rate/Unit( Rs. ) 8.00p 8.19
Through Diesel Generator
Units generated 630,733p 515,993
TOTAL AMOUNT ( Rs. ) 10,994,461 P 8,582,428
Cost/Unit ( Rs. ) 17.431- 16.63
Power & Fuel Consumption (Varpal Plant)
Particulars 2017-181 2016-17
ELECTRICITY
Through Purchases
Units 4,825,70oP 4,272,220
Total Amount ( Rs. ) 33,233,379p 30,718,756
Rate/Unit ( Rs. ) 6.89p 7.19
Through Diesel Generator
Units generated 73,40oP 75,600
TOTAL AMOUNT ( Rs. ) 1,252,20oP 1,533,930
Cost/Unit ( Rs. ) 17.061- 20.29

(b) Technology, Absorption, Adaption and Innovation

Technology is changing day by day. Over the years, the Company has taken significant steps in adoption of new technologies thus improving overall efficiency of Plants. Similar steps were taken in the current year as well by replacing the lower capacity machines with the new higher capacity machines. Some such machines includes the color sorters which is one of the critical machines involved in the rice processing industry. Some of the old lower capacity color sorters were replaced with new upgraded and high capacity machines resulting in reduction of rejection percentage, improvement in final output and increasing overall throughout.

The Company has realized and agrees that the continuous improvement can be achieved only if the employees involved in the process directly or indirectly are highly trained on modern techniques and are aware of global standards. One such step taken by the Company in that direction is to start Manufacturing Excellence and Improvement Program. The key highlights of this improvement drive were - 5S, Maintenance Improvement Techniques, Reliability Matrix, MTTR & MTBF etc., which are highly beneficial and globally accepted programs for process improvement.

(c) Foreign exchange earnings and Outgo

During the year, the total foreign exchange spent was Rs. 2,688.80 Lakhs and the total foreign exchange earned was Rs. 86,409.73 Lakhs.

( Rs. In Lakhs)
Particulars March 31, 2018 March 31, 2017
Value of imports on CIF basis
Capital goods 852.19 88.38
Stores and spares 37.00 63.50
Other Food Items 513.17
Other 2.53
Total 889.19 667.58
Expenditure in foreign currency
Legal fees 177.60 54.48
Interest and other charges to bank 807.78 44.81
Steamer freight 901.17 831.71
Sales promotion 113.89 292.86
Commission on export sales 26.21 136.20
Others 662.16 329.92
Total 2,688.80 1,689.98
Earnings in foreign currency
FOB value of exports
Rice 86,409.73 78,441.53
Total 86,409.73 78,441.53

34. Corporate Social Responsibility (CSR)

The disclosures as per Rule 9 of Companies (Corporate Social Responsibility Policy) Rules, 2014 related to CSR activities is detailed in (Annexure II).

35. Human Resources

The Company treats its "human resources"as one of its most important assets.

The Company continuously invest in attraction, retention and development of talent on an ongoing basis. A number of programs that provide focused people attention are currently underway. The Company's thrust is on the promotion of talent internally through job rotation and job enlargement. The Company maintains healthy, cordial and harmonious industrial relation at all level. The enthusiasm of employee has enabled the company to maintain its leader position in the industry.

36. Directors Responsibility Statement

Pursuant to Section-134(3)(C) of the Companies Act, 2013, based on the representations received from the operating management & after due inquiry, the Directors confirm that:-

(a) In the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material

Hpnarti irp<;-

(b) the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profitand loss of the company for that period;

(c) The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

(d) The Directors have prepared the annual accounts on a going concern basis; and

(e) The Directors, have laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively; and

(f) The Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

37. Transfer of Amounts to Investor Education and Protection Fund

Pursuant to Section 124 and 125 of the Companies Act, 2013, the dividend which remains unpaid/unclaimed for a period of seven years from the date of transfer to unpaid dividend account is required to be transferred to the Investor Education and Protection Fund (IEPF) established by the Central Government. Accordingly, the company has transferred unclaimed dividend of ^214,854/- for the financial year 2009-10 to Investor Education and Protection Fund and such unclaimed dividend cannot be claimed by the Investors from the Company. Flowever Investors can claim the unpaid dividend from appropriate authority in accordance with the Investor Education and Protection Fund Authority (Accounting, audit, transfer and Refund) Rules, 2016

Further the amount of Dividend unclaimed/unpaid for the financial year 2010-11 to 2016-17 lies in the respective unpaid dividend account and can be claimed from Company's Register and Transfer Agent i.e. Big Share Services Private Limited, before the due date for transfer of the same in IEPF account.

Pursuant to the provisions of the Investor Education Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules, 2012, the Company has uploaded the details of unpaid and unclaimed amounts lying with the Company, as on 19th September 2017, with the Ministry of Corporate Affairs.

38. Listing with Stock Exchanges:

The Company confirms that it has paid the Annual Listing Fees for the year 2017-18 to NSE and BSE where the Company's Shares are listed.

39. Compliance with Secretarial Standards

The Company has duly followed the applicable Secretarial standards, SS-1 & SS-2 relating to Meeting of the Board of Directors and General Meeting respectively.

40. Acknowledgements

Your Director places on record their gratitude to all stakeholders for their assistance, cooperation and encouragement. The Directors also wishes to place on record their sincere thanks to all investors, vendors, and employees for their outstanding performance.

For and on behalf of the Board of Directors

Sd/-

Vijay Kumar Arora

Chairman & Managing Director

DIN:00012203

Place: Gurugram

Date: 13th August 2018

   

L T Foods Ltd Company Background

Vijay Kumar AroraVijay Kumar Arora
Incorporation Year1990
Registered OfficeUnit No 134 1st Fl Rectangle-1,Saket District Centre
New Delhi,New Delhi-110017
Telephone91-011-26857099,Managing Director
Fax91-011-26859344
Company SecretaryMonika Chawla Jaggia
AuditorWalker Chandiok & Co LLP
Face Value1
Market Lot1
ListingBSE,MSEI ,NSE,
RegistrarBig Share Services Pvt Ltd
E-2/3 Saki Vihar Rd ,Ansa Indl Estate ,Saki Naka Andheri-E,Mumbai - 400 072

L T Foods Ltd Company Management

Director NameDirector DesignationYear
Vijay Kumar Arora Chairman & Managing Director 2018
Ashwani Kumar Arora Joint Managing Director & CFO 2018
Surinder Kumar Arora Joint Managing Director 2018
Pramod Bhagat Independent Director 2018
Monika Chawla Jaggia Company Secretary 2018
Radha Singh Independent Director 2018
Rajesh Kumar Srivastava Nominee 2018
Suparas Bhandari Independent Director 2018
Gokul Patnaik Independent Director 2018

L T Foods Ltd Listing Information

Listing Information
BSE_FMCG
BSESMALLCA
BSEALLCAP

L T Foods Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
RiceMT0002121.8976
OthersNA00045.0865
Other Traded GoodsNA00022.3388
Other Operating IncomeNA0006.7079
SalesNA0000
UnspecifiedNA0000
Metal ScrapMT0000
Exchange FluctuationNA0000
Beans-MothMT0000
GramMT0000
WheatMT0000
Rice-TradedNA0000
PaddyMT0000
Paddy HuskMT0000
Paddy MillingTPH0000
Paddy Milling (Leased)TPH0000
Soyabean OilMT0000
Corn-YellowMT0000
Almonds.MT0000
Rice BranMT0000
Ferro MetalMT0000
AdjustmentNA000-3.4753

Contact us