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Home > Business India > Company Profiles: LT Foods Ltd.

LT Foods Ltd.
Registered Office : A-21 Green Park Main Aurobindo Marg New Delhi Delhi - 110016 Tel: 26857099
Business Group: Not Applicable Industry Type: Miscellaneous
Key Officials:
Mr. Surinder Arora
Mr. Pramod Bhagat
Mr. Satish Bal
Mr. J C Sharma
Mr. Vijay Kumar Arora
Mr. Suparas Bhandari
Mr. Ashwani Arora
Joint Managing Director
Independent Director
Independent Director
Additional Director
Chairman and Managing director
Independent Director
Joint Managing Director
Public Issue Date: 27/11/2006 BSE CODE: 532783 NSE CODE: DAAWATEQ
Face Value: 10 Market Lot: 1 ISIN: INE818H01012
Current PE: 2.5568 Current Market Capital: 72.1546
Promoters %: 63.8776
Promoters Shares: 14225496
Institution Investment %: 0.5699
Institution Investment Shares: 126927
Auditor:
Tilak Chandna & Co.
Banker:
Registrar:
Big Share Services Pvt. Ltd. E/2 E/3 Ansa Industrial EstateSaki Vihar RoadSakinaka Andheri (E)Mumbai 400072 Maharashtra 28470652 28470653 28473474
Company History: Our Company was incorporated as LT Overseas Private Limited on 16th October 1990 having registered office at 532/4 Naya Bazaar Delhi. Consequent to conversion to public limited company the name of the Company was changed to LT Overseas Limited vide fresh Certificate of Incorporation dated 03rd May 1994.

We started our operations in the year 1993 using certain processing facilities of Lal Chand Tirath Ram Rice Mills (LCTRRM) an associate concern on lease. We got our registration as manufacturerexporter in 1993 from APEDA

In 1994-95 we filed our draft prospectus with SEBI and Stock Exchanges in Mumbai Delhi Jaipur and Ahmedabad. The object of the Issue was to part finance the expansion programme for setting up a milling plant with a capacity of 2 MTPH.

We received the observation letter from SEBI but we did not take the matter forward on account of the then prevailing poor conditions in the capital markets. However we completed the expansion plan through term loan from Banks

We set up milling capacity (paddy to rice) of 4 MTPH in the year 1995 at Kakroi Road Sonepat. We have been making investments in plant and machineries and other assets in a bid to upgrade and modernize its production processes to meet the consistent quality requirements of customers.

In pursuance of succession agreement dated March 26 1999 we took over the business of Lal Chand Tirath Ram Rice Mills having milling capacity of 6 MTPH thus making the total milling capacity available with the Company at 10 MTPH.

In the year 1999-2000 we started setting up a new manufacturing facility at Bahalgarh Haryana. The commercial production commenced in December 2000. This factory increased our manufacturing capacity by 4 MTPH. However our total milling capacity remained same i.e. 10 MTPH due to obsolescence of somemachineries at Kakroi Road Factory.

Between 2002-2005 we increased our capacity to 18 MTPH and in the year 2005 we disposed off our Kakroi Road unit (which had a capacity of 6 MTPH) thereby reducing our available capacity to 12 MTPH at the end of 2005-2006. However with increase in capacity during 2006-07 our current owned capacity stands at 27 MTPH.

Major Events/Milestones

1990-91 Incorporation of our Company as a Private Limited Company

1993-94 Converted into a Public Limited Company

1994-95 Set up our own milling capacity of 4 TPH

1995-96 Certificate of merit was awarded by APEDA for significant contribution in the export of Indian Long Grain rice  Registered the brand `DAAWAT' in United States of America

1997-98 Awarded `APEDA Export award' for outstanding contribution to promotion of agricultural and processed food products during the year 1996-97.

1998-99 Took over the business of Lal Chand Tirath Ram Rice Mill having capacity of 6 TPH

1999-00 Recognised as Star Trading House by Government of India Registered and launched the brand `DAAWAT' in Mauritius Saudi Arabia and New Zealand

2000-01 Started the processing facility at Bahalgarh Unit of 4 TPH Registered and launched the brand `DAAWAT' in Australia

2001-02 Registered and launched the brand `DAAWAT' in Canada Obtained ISO 9001:2000 certification Obtained HACCP certification Obtained certification of SQF (Safe Quality Food) 2000CM for comprehensive food safety and Quality management systems

2002-03 Received the right to use APEDA certification mark "Quality Produce of India" for exports Enhanced the capacity in Bahalgarh unit from 4 TPH to 10 TPH making the total capacity to 16 MTPH.

2003-04 Award from APEDA for export promotion and quality development of Basmati Rice

2004-05 India Star Award from Indian Institute of Packaging Enhanced the capacity in Bahalgarh unit from 10 TPH to 12 TPH making the owned capacity to 18 MTPH.

2005-06 Awarded `Udyog Ratna' by PHD Chamber of Commerce and Industry presented by Shri Bhupinder Singh Hooda Hon'ble Chief Minister Haryana for valuable contribution to Economic Development of Haryana

2006-07 Inauguration of Silos Complex Increase in capacity from 18 MTPH to 27 MTPH

2007

-LT Overseas Ltd has signed a MOU with Madhya Pradesh State Industrial Corporation Ltd Corporation Bhopal.

-LT Overseas Ltd has signed a Shareholders Agreement on June 10 2007 with LT Overseas North America (LTO NA) - a Company incorporated under the Laws of Ontario. The Company will be holding 55.26% shares in LTO NA and in pursuance of the same LTO NA will become a subsidiary of the Company.

(Source: RTGSL)


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