LT Foods’ export revenues have gone up by ~16% CAGR over the last 5 years (FY19-23). Their annual report mentions that the global basmati market grows at a rate of ~1-3% pa. This looks to me a very favorable situation to be in, considering that they are doing something right to achieve these rates in a slow growing sector which is also fragmented. Additionally, as Aadesh said, Middle East is the largest market (~40% of global demand if I am not wrong), and LT foods has a very small market share there. That gives long runway for growth
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