Motilal Oswal Retains 'Buy' On LT Foods Citing Rising Exports, Sees 29% Upside

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Motilal Oswal Report

With domestic consumption gradually rising and India holding substantial rice reserves, the government has decided to lift the MEP on basmati rice, which is anticipated to drive higher exports.

Given the superior margins and realizations in exports compared to the domestic market, LT Foods Ltd. is well-positioned for strong growth as 66% of its revenue is derived from exports.

LT Foods is likely to witness margin improvements as we expect its export mix to strengthen, aided by the benefit of low-priced inventory from Q2 FY26.

We expect LT Foods to report a revenue/Ebitda/PAT CAGR of 14%/19%/25% over FY25-27. We value the stock at 17x FY27E EPS to arrive at our target price of Rs 460; reiterate Buy.

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