Below is the edited excerpt of VK Arora interview on CNBC-TV18:
Q:Could you tell us about the recent issue from Qatar. They have been buying a lot of Indian rice. Have you have participated in that tender?
A: We were preparing for a participation in the tender but it is not happening.
Q:The tender is cancelled from Qatar, or LT Foods participation in the tender is not happening?
A: LT Foods' participation in tender is happening but they are taking their own time to decide.
Q: Talking about business are we likely to see a record year for rice companies like yours because we believe that this year's production has been good and at the same time there hasn't been any drop in prices, if at all prices have gone up?
A: The prices have definitely gone up, the production is quite good and Daawat is doing very well.
Q: What would you expect in terms of your FY14 revenues? In the last quarter your revenue growth was about 22-23 percent, does it get better than that for the full year?
A: It is going to be better than that in full year, 10-15 percent better than the last half year report.
Q: Could you give us any number for the full year. What kind of numbers are you targeting?
A: We are expecting Rs 2,700 crore on the topline, and on the bottomline we are expecting around Rs 90 crore to Rs 100 crore.
Q: Given the fact that you said prices have gone up quite substantially, will it show up in your margins as well for the full year?
A: Yes, it is showing in the margin as well. It is showing a consistent profit so in that way its business is quite stable and Daawat's distribution is increasing in many countries. We are launching in many countries, at better destinations in the next quarter.
We have already launched our rice snacks brand MYMY and that is also catching up. It's launched in Delhi and so far the response is good. We are going to launch atta now. Daawat has signed Amitabh Bachchhan as the brand ambassador so we are bullish. Our team is quite motivated and consumers are feeling confident of this brand.
Q: What is the total investment that the company has lined up for FY14 as well as for the next year?
A: Around Rs 40 crore-50 crore investments.
Q: Any more new tenders which you are opening up, which LT Foods could participate?
A: It will definitely happen in the other regions of Middle East so it might happen in the next quarter.
Q: How big could these tenders be which will open up?
A: It is quite regular. It was there in the earlier years so demand of basmati rice is consistent in the world market.
LT Foods stock price
On December 12, 2013, LT Foods closed at Rs 80.90, down Rs 3.35, or 3.98 percent. The 52-week high of the share was Rs 90.45 and the 52-week low was Rs 45.10.
The company's trailing 12-month (TTM) EPS was at Rs 12.23 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 6.61. The latest book value of the company is Rs 93.23 per share. At current value, the price-to-book value of the company is 0.87.
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