Mukul Agrawal-backed Rice Stock Hits 52-Week High Today – FIIs and DIIs Increase Stake, Stock Gains Over 155 Per cent in Just 6 Months!
The company’s shares have delivered a multibagger return of over 155 per cent to its shareholders in just 6 months.
Today the shares of Mukul Agrawal-backed company have rallied and touched a 52-week high price with substantial volume on the BSE.
LT Foods Ltd was incorporated in the 1980s. It is primarily engaged in the business of milling, processing, and marketing branded and non-branded basmati rice, as well as manufacturing rice food products for the domestic and overseas markets. The company owns several rice brands, including Daawat, Royal, Heritage, Devaaya, Gold Seal Indus Valley, 817 Elephant, Kari Kari, and Ecolife.
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At the start of the day's trading session, shares of LT Foods Ltd opened at Rs 418.05 per share, compared to the previous day's closing figure of Rs 407.35 per share on the BSE. Finally, the shares closed at Rs 434.65 per share. The stock has rallied over 5 per cent today and hit a 52-week high, reflecting strong demand in the market. The company's current market capitalization stands at Rs 15,093.35 crore. Additionally, the shares have delivered a multibagger return of 155 per cent in just 6 months only.
As per the Quarterly Results, in the Q1 FY25, LT Foods Ltd recorded a revenue of Rs 2071 crore compared to Rs 1778 crore. The operating profit stood at Rs 241 crore. The net profit stood at Rs 155 crore compared to a profit of Rs 137 crore. Looking at the annual performance, the company generated a revenue of Rs 7772 crore in FY24. The operating profit for FY24 was Rs 938 crore with a net profit of Rs 598 crore compared to a net profit of Rs 423 crore in FY23.
According to the shareholding pattern of the company, the promoters hold a significant 51 per cent stake. Public investors own 37.44 per cent of the shares, while Foreign Institutional Investors (FIIs) hold 5.89 per cent and Domestic Institutional Investors (DIIs) own 5.67 per cent. Both the FIIs and DIIs have increased their stake in the company. Moreover, Ace investor Mukul Agrawal holds a 1.15 per cent stake in the company.
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Disclaimer: The article is for informational purposes only and not investment advice.