LT Foods targets 10% revenue
From Convenience & Health segment in next 5 yrs, says Ashwani Arora, MD & CEO
image for illustrative purpose
LT Foods Ltd, which owns basmati rice brands -- Daawat and Royal, is looking at ‘Convenience & Health’ segment as a “growth enabler’ for the company, as it targets up to 8 to 10 per cent revenue from this category in the next five years, its MD & CEO Ashwani Kumar Arora said.
The company is leveraging existing brands and distribution strength for its ready-to-cook and ready-to-eat products in the Convenience & Health segment, a category where consumption has increased in Indian homes, particularly after the pandemic.
“The goal is to take 8-10 per cent of the total revenue from the third vertical (Convenience & Health). Our target is the next five years,” Arora told PTI. The Delhi-based company entered this segment around four years ago with the brand extension of Dawat in the US market and has subsequently extended it in the Indian market.
“We have achieved an impressive 3-year Compound Annual Growth Rate (CAGR) of 30 per cent, resulting in this segment contributing 2.5 per cent to our overall revenue. Furthermore, our year-on-year growth has surged by an impressive 36 per cent in this segment,” he said.
