Credit rating agency -- India Ratings and Research (Ind-Ra) has assigned LT Foods’ Long-Term Issuer Rating of ‘A’. The Outlook is Positive. The Positive Outlook reflects Ind-Ra’s expectation of a sustained improvement in LT Foods’ financial profile, resulting from an increase in the EBITDA and a stable working capital cycle, translating into lower debt levels. Key Rating drivers are Strong Market Position, Geographical Diversification, Strong Distribution Network, Growing Product Diversification, Procurement Track Record, Established Brand Cushions Impact of Raw Material Price Fluctuations, Strong Performance in 1HFY21 Despite Impact of COVID-19, Comfortable Credit Metrics and Adequate Liquidity Indicator.
LT Foods is a branded specialty foods company. It is engaged in milling, processing and marketing of branded and non-branded basmati rice, and manufacturing of rice food products in the domestic and overseas market.
