LT Foods Limited has unveiled Daawat® Saffron Basmati Rice, a limited-edition premium offering that marks a significant innovation in the basmati rice category. The launch represents the company's strategic expansion into ultra-premium segments, targeting connoisseurs who value exceptional culinary experiences.

Product Innovation and Sourcing

The Daawat® Saffron Basmati Rice stands as a first-of-its-kind innovation, featuring basmati rice infused with the finest saffron sourced exclusively from Jammu & Kashmir. The rice cultivation follows traditional methods on farms nourished by the Chenab River, where farmers employ time-honored, pesticide-free techniques passed down through generations.

Premium Packaging and Experience

The limited-edition offering transforms the traditional rice purchase into a luxury experience through carefully curated packaging elements. Each pack contains vacuum-sealed saffron-infused basmati rice, accompanied by a handcrafted jute storage bag for preservation. The premium experience extends to personalized touches, including a handwritten note from the farmer featuring a certified pack number, along with specially curated cooking instructions.

Market Positioning and Availability

Positioned as a rare and collectible culinary offering, Daawat® Saffron Basmati Rice targets true connoisseurs seeking exclusivity in their food choices. The product functions as both a culinary indulgence and a keepsake, reflecting the company's commitment to creating value beyond traditional food offerings.

Availability remains exclusive, with interested consumers required to express interest through the dedicated website at daawat.com/saffron-rice, emphasizing the product's premium positioning and limited nature.

Strategic Vision and Market Impact

According to Ritesh Arora, CEO – India Business & Far East at LT Foods Limited, the launch represents a strategic step in strengthening the company's premium portfolio while enhancing value creation across the premium basmati ecosystem. The initiative builds on the company's seven-decade legacy, combining authenticity, product excellence, and exclusivity to reinforce Daawat®'s market leadership.

Company Performance Overview

LT Foods Limited operates as a leading billion-dollar global FMCG company in the consumer food space, with over 70.00 years of experience in specialty rice and rice-based foods. The company maintains a global presence across more than 80.00 countries, including India, the U.S., U.K., Europe, the Middle East, and the Far East.

The company's integrated "Farm to Fork" approach encompasses strategically located processing units in India, the U.S., and Europe, supported by automated state-of-the-art facilities and a robust global distribution network.

LT Foods Limited has issued a comprehensive postal ballot notice dated March 09, 2026, seeking shareholder approval for multiple strategic appointments and business expansion initiatives. The company has scheduled the e-voting process to facilitate member participation in key corporate decisions.

E-Voting Schedule and Process

The postal ballot e-voting will commence on Tuesday, March 10, 2026 at 09.00 A.M. (IST) and conclude on Wednesday, April 08, 2025 at 5.00 P.M. (IST). The company has appointed Mr. Debasis Dixit, Proprietor of M/s. D Dixit & Associates, as the scrutinizer to conduct the postal ballot process in a fair and transparent manner.

Independent Director Re-appointments

The postal ballot includes proposals for re-appointing two existing independent directors for second terms. Mr. Abhiram Seth (DIN: 00176144), currently 74 years old, seeks re-appointment for five consecutive years from July 22, 2026 to July 21, 2031. His first term began on July 22, 2021, and the re-appointment requires special resolution approval as he will attain 75 years during the proposed tenure.

Ms. Ambika Sharma (DIN: 08201798), aged 63 years, is proposed for re-appointment as independent director for five consecutive years from March 10, 2026 to March 09, 2031. She initially joined the board on March 10, 2021, and has received positive performance evaluation during her first term.

New Director Appointments

The company proposes to appoint Ms. Rima Gupta (DIN: 00360408) as a new independent director for five consecutive years from April 08, 2026 to April 07, 2031. Ms. Gupta, aged 62 years, brings nearly four decades of professional experience in marketing and brand strategy, having worked with leading organizations including Nestlé, ITC Limited, Tata Motors, and Unilever.

Whole-Time Director Appointment

A significant proposal involves appointing Mr. Ashok Kumar Arora (DIN: 02259429) as whole-time director designated as Executive Director for three consecutive years from April 08, 2026 to April 07, 2029. Mr. Arora, aged 66 years, is one of the founding promoters and currently serves as President – Punjab Operations.

The appointment structure ensures that Mr. Arora will receive remuneration of ₹2.80 crore per annum (₹2.30 crores fixed pay and ₹50 lacs variable pay) solely from Daawat Foods Limited, the wholly owned subsidiary, with no remuneration from the parent company for this office.

Business Expansion Initiative

The postal ballot includes a special resolution to alter the Object Clause of the company's Memorandum of Association. The proposed amendment will enable LT Foods to establish and operate commercial testing laboratories, offering analytical and quality assurance services to third parties.

The new object clause will allow the company to:

• Acquire, promote, and establish testing laboratories and research facilities • Conduct examinations and analysis for government and private entities • Provide testing services for food items, chemicals, agricultural products, and industrial materials • Offer quality assurance and certification services

This expansion leverages the company's existing laboratory infrastructure used for in-house product testing, creating additional revenue streams while maintaining focus on the core food business.

Remuneration Details

The independent directors will receive sitting fees for attending board and committee meetings as approved by the company. For the financial year 2024-25, Mr. Abhiram Seth received ₹4,60,000 and Ms. Ambika Sharma received ₹5,55,000 in gross remuneration including sitting fees.

The postal ballot notice emphasizes that all proposed appointments align with the company's strategic objectives and regulatory requirements. Members holding shares as on the cut-off date of March 06, 2026, are eligible to participate in the e-voting process through the NSDL platform.