L T Foods reports subdued Q4FY18 numbers

LT Foods consolidated revenue for Q4FY18 came in at Rs. 1,070.64 crore, registering 15.4 per cent yoy increase.  

EBITDA for the quarter rose by 2.3 per cent yoy to Rs. 96.4 crore with a corresponding margin contraction of 116 bps. EBITDA margin for the quarter stood at 9 per cent. This margin contraction was led by higher cost of raw material in proportion to sales.  

The PAT for the quarter came in at Rs. 34.56 crore, yoy decline of 8.7 per cent.  

In terms of full year 2017-18, the company’s performance was stable. Revenue for FY18 increased 11.4 per cent yoy to Rs. 3,614 crore. EBITDA for the period rose 5.5 per cent yoy to Rs. 378 crore with corresponding margin contraction of 60 bps to 10.5 per cent. Net profit rose 11.7 per cent yoy to Rs. 144 crore.  

The company's board of directors have recommended a final dividend of Re. 0.15 per equity share of FV of Re. 1/- each for the for FY18 subject to shareholders approval.  

The company stated that it will enter into MoU with Wagentngen Food & Bio-based Research Agricultural University to strengthen its compliance process to confirm to the residue levels at the field level and for other R&D initiatives pertaining to paddy. Also, it will enter into MoU with Nutrilab, Netherlands to set up a state-of-art laboratory for reducing the cost as well as for bringing efficiency in the overall process by minimizing tumaround time of different analysis i.e nutrition, pesticides, heavy metal, micro toxin and all other tests required for our Organic and Conventional business in European Union.