LT Foods has announced the appointment of Rohit Jaiswal as Chief Operating Officer for LT Foods Middle East DMCC, a step-down subsidiary of the company. The appointment, announced on December 15, 2025, represents a strategic move to strengthen leadership and accelerate growth in the Middle East and Africa regions.

Strategic Leadership Appointment

In his new role, Jaiswal will work closely with Gursajan Arora, CEO of Middle East Business, and will be responsible for shaping and delivering the strategic roadmap for LT Foods' business growth and regional expansion in the Middle East and Africa.

Professional Background and Qualifications

Jaiswal brings impressive academic credentials and extensive industry experience to his new role:

Throughout his progressive career, Jaiswal has held multiple functional and business leadership roles in prominent FMCG companies:

Leadership Vision and Strategy

Commenting on the appointment, V.K. Arora, Chairman and Managing Director of LT Foods, stated: "We are delighted to welcome Mr. Rohit Jaiswal to the LT Foods family. Guided by the LT Foods 3.0 vision of shaping the company into a diversified global FMCG consumer food company, his extensive FMCG experience will bring strong momentum to our growth plans."

Jaiswal expressed his enthusiasm about joining the company, saying: "I am delighted to join LT Foods, a company that is trusted by millions of consumers globally. My joining comes at a time when consumers are asking for healthier and more sustainable food options. My aim is to help us reach more households across the Middle East and Africa with brands that reflect our commitment to quality and care."

Company Performance and Market Position

LT Foods is a leading billion-dollar global FMCG company in the consumer food space, with over 70 years of experience in specialty rice and rice-based foods business. The company delivers products to more than 80 countries across India, the U.S., U.K., Europe, the Middle East, the Far East and the Rest of the World.

The appointment reflects LT Foods' commitment to expanding its international operations and capturing greater market share in key regional markets through experienced leadership and strategic capability building.

LT Foods Limited , a leading player in the basmati rice industry, has received a significant boost to its credit profile. India Ratings and Research (Ind-Ra) has upgraded the company's long-term bank loan facilities rating to 'IND AA/Stable' from 'IND AA-/Stable', reflecting the company's strengthened business profile and robust financial performance.

Key Highlights

• Rating Upgrade: Long-term bank loan facilities rating upgraded to 'IND AA/Stable' from 'IND AA-/Stable'
• EBITDA Growth: Consolidated EBITDA surpassed INR 10 billion
• Margin Improvement: EBITDA margins improved to 12%
• Market Position: Strong 55-60% share in the US basmati rice market
• Financial Profile: Conservative financial profile with net leverage below 1.0x

Financial Performance

LT Foods has demonstrated consistent growth in its operations, particularly in its core basmati rice business. The company's financial metrics show significant improvement:

The company's EBITDA has shown a remarkable two-year CAGR of around 20%, driven by business expansion and improved operational efficiency.

Market Position and Business Strengths

LT Foods has cemented its position as a dominant player in the basmati rice market:

• US Market: Commanding a 55-60% share in the US basmati rice market
• Brand Portfolio: Strong presence with brands like Daawat in India and Royal in the US
• Global Footprint: Operations in over 80 countries with a robust distribution network
• Product Diversification: Expanding into organic staples and convenience foods

Financial Stability

The company maintains a conservative financial profile:

• Net Leverage: Consistently below 1.0x (FY25: 0.6x, FY24: 0.5x)
• Interest Coverage: Robust at 10.3x in FY25
• Working Capital Management: Improved reliance on borrowings for working capital to less than 20% in FY25

Challenges and Outlook

While LT Foods has shown strong performance, it faces some challenges:

• US Tariffs: Potential impact from the 50% tariff imposed by the US on Indian rice exports
• Market Competition: Increasing competition in the global rice market
• Commodity Price Volatility: Exposure to fluctuations in rice prices and forex rates

Despite these challenges, Ind-Ra expects LT Foods to maintain its strong market position and financial performance. The company's diversified geographical presence and strong brand positioning are likely to help mitigate potential risks.

Conclusion

The rating upgrade reflects LT Foods' ability to consistently grow its business while maintaining a strong financial profile. With its dominant market position, especially in the US basmati rice market, and ongoing efforts to diversify its product portfolio, LT Foods is well-positioned for sustained growth in the coming years.

Investors and stakeholders can take confidence in the company's improved credit profile, which indicates its capacity to meet financial obligations and support future growth initiatives.