LT Foods (LTFOODS) Q3 25/26 earnings summary

Executive summary

• Achieved record nine-month revenue of ₹8,085 crore, up 24% year-over-year, and Q3 revenue of ₹2,812 crore, up 23%, driven by brand investments and global expansion.

• EBITDA for nine months was ₹936 crore, up 20% year-over-year; Q3 EBITDA at ₹317 crore, also up 20%.

• Maintained leadership in Basmati and specialty rice, with significant market share gains in North America and Europe.

• Board approved un-audited results for Q3 and 9M FY26; interim dividend of ₹1 per share declared.

• Continued focus on sustainability, digital transformation, and new product innovation.

Financial highlights

• 9M FY26 revenue grew 24% year-over-year to ₹8,085 crore; normalized growth 12% excluding U.S. tariff and Golden Star acquisition effects.

• 9M FY26 PAT increased 9% to ₹490 crore; Q3 FY26 PAT at ₹157 crore.

• EBITDA margin for nine months at 11.6%, down 30 bps from last year due to higher brand and digitalization investments.

• Net debt stands at ₹1,180 crore, slightly reduced year-over-year; Net Debt/EBITDA improved to 0.95.

• Interest costs increased 46% year-over-year, mainly due to higher working capital utilization and lease accounting for new U.K. warehouse.

Outlook and guidance

• Double-digit revenue growth guidance remains intact for the next year.

• Focus on margin expansion through economies of scale, premiumization, and operational efficiencies.

• Margin outlook to be clarified in the next quarter, depending on input costs and tariff developments.

• No major concerns on crop availability for sustaining growth.

• Management does not expect a material impact from the U.S. countervailing duty on exports.