CRISIL Limited has reaffirmed the Long term rating at 'CRISIL A-' and the Short Term Rating at 'CRISIL A2+'. The outlook on the long term bank loan facilities has been revised to Stable.
The ratings continue to reflect the LT group's strong market position in the basmati rice industry, resulting in sales growth and stable profitability. The ratings also factor in the group's diversified geographical reach through strong brands, (Daawat in the domestic market, and Royal in the US market), an established marketing network, and improving financial risk profile. These strengths are partially offset by the working capital requirements, and susceptibility to volatile raw material prices, and any adverse changes in government policies.
Shares of LT FOODS LTD. was last trading in BSE at Rs.15.6 as compared to the previous close of Rs. 15.35. The total number of shares traded during the day was 82336 in over 298 trades.
The stock hit an intraday high of Rs. 16.1 and intraday low of 15.2. The net turnover during the day was Rs. 1278760.