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LT Foods | The company selling "Daawat" basmati rice in Europe and North America

2026.09.19

Article summary

LT Foods, headquartered in Gurugram, is a basmati rice maker with brands including "Daawat" (India and the Middle East) and "Royal" (North America). It has contract farming along with its own rice-milling and aging facilities, and has expanded into rice-based RTE and RTH foods as well. Consolidated revenue for FY2026 (year ended March 2026) was ₹11,023 crore (1 crore = 10 million rupees), up 26% from ₹8,770 crore the prior year, though this growth includes the effect of passing US tariffs on to selling prices, and on a normalized basis it puts the figure at ₹10,462 crore. Because basmati's price varies with growing region, variety, and aging period, the financial capacity to let inventory age affects quality. It also handles OEM production for Western markets.

This article is based on what we could verify As of September 19, 2026 This page is based on the disclosures and news reports from each company that we were able to confirm as of that date. Amounts in the text follow the notation commonly used in India, with ₹1 crore = 10 million rupees, and yen figures are approximations calculated at a little over 1.7 yen to the rupee. Store counts, funding raised, and results at Indian companies change over short periods, so when making a business decision, please check the latest information in primary sources such as each company's own announcements.

LT Foods is a food company with the basmati rice brand Daawat and Royal for North America. The share of overseas sales is higher than that of the Indian market, and it has widened into prepared foods built around rice.

Company profile

Item	Details
Legal name	LT Foods Limited
Headquarters	Gurugram (Haryana)
Consolidated revenue	₹11,023 crore (FY2026, year ended March 2026; up 26% year on year, about ¥192 billion). FY2025 was ₹8,770 crore
Normalized basis	₹10,462 crore (the company's own basis, excluding the effect of passing US tariffs on to selling prices)
Main brands	Daawat, Royal, Heritage, Kari Kari, Ecolife, 817 Elephant, Golden Star, and others
Business	Milling, packaging, and export of basmati rice; Ready-to-Eat and Ready-to-Heat foods
Listing	Listed on the BSE and NSE

Basmati rice prices change with aging

Basmati rice prices vary widely by growing region, variety, and how long it's aged after harvest. Left as paddy for a year or two, it loses moisture, and when cooked, the grains elongate more and the aroma comes through stronger. Aging requires warehousing and capital, so how long a company can afford to let inventory age directly translates into quality and competitiveness.

LT Foods has contract farming along with its own rice-milling and aging facilities, tailoring quality by brand. It splits brands by market: Daawat for India and the Middle East, Royal for North America.

The figures need to be read carefully

Consolidated revenue for FY2026 (fiscal year ending March 2026) was ₹11,023 crore, up 26% from ₹8,770 crore in FY2025. The company explains, however, that this growth includes the portion where US tariffs were passed straight into selling prices without taking a margin, and that on a normalized basis excluding that effect revenue was ₹10,462 crore.

The tariff portion is booked as revenue but doesn't become profit. Looking only at the growth rate makes it look bigger than reality, so a company with this kind of footnote needs to be compared on normalized figures.

Beyond rice, it has widened into retort curries, cooked rice, and snacks, selling mainly into Indian communities in North America, Europe, and the Middle East.

Points for Japanese companies

When handling basmati rice or Indian-style retort foods in Japan, talking to a company that owns a brand, rather than an exporter in the growing region, makes it easier to stabilize specifications and volume. The company already handles OEM production for Western markets and can be consulted on packaging and labeling too.

When ordering, it's worth checking whether the aging period and variety can be specified. Basmati isn't a single rice; grain length and aroma differ by variety, such as Pusa 1121 or Pusa Basmati 1509. Ordering by quantity alone without fixing specifications means the cooked result will vary from lot to lot.