LT Foods Ltd announced its strategic expansion into Saudi Arabia, marking its entry into the $2 billion rice and rice-based food market with the inauguration of a new office in Riyadh. This development underscores the company’s commitment to enhancing its global footprint.
The move aligns with LT Foods’ strategic vision of exploring new geographies while maintaining consistent revenue and profit growth. The company generates $1 billion in global revenue and boasts an impressive track record of 18% Revenue CAGR and 21% Profit CAGR over the past 18 years.
The new Riyadh office will serve as a regional hub, enabling LT Foods to cater to the growing demand for premium rice and rice-based food products in Saudi Arabia. By leveraging its expertise, LT Foods aims to meet the culinary traditions and preferences of the Saudi Arabian market.
As of 9:18 AM, LT Foods shares were trading 2.92% higher at Rs 365.00 on the NSE, reflecting investor optimism regarding the company’s expansion plans.
