LT Foods shares: Mukul Agrawal stock falls in 12 of 14 sessions; Geojit target hints at 32% upside

Shares of LT Foods Ltd plunged on Friday, tumbling 9.02% to settle at Rs 393 apiece on the BSE against its previous close of Rs 431.95. This comes despite the counter gaining 17.36% in the previous session.

The LT Foods stock has declined in 12 of the last 14 sessions. However, brokerage firm Geojit Financial Services remains optimistic about the global consumer specialty company. 

Ace investor Mukul Mahavir Agrawal holds a 1.12% stake or 39 lakh shares in the company, according to the December quarter shareholding pattern.

In a latest research note dated March 6, Geojit recommended a ‘Buy’ rating on LT Foods stock with a target price of Rs 518. Based on Friday's closing price, this translates to a potential upside of nearly 32%.

According to Geojit said LT Foods delivered a solid 24% year-on-year revenue growth in the third quarter of FY26. When excluding US tariff impacts and Golden Star revenue, the normalised growth stood at 8% year-on-year. 

Geojit highlighted that this performance was driven by broad-based strength across geographies, successfully weathering US tariff headwinds.

“Segment wise, Basmati revenue (86% mix) grew by 25%YoY, while organic (8% mix)
declined by 7%YoY and RTH/RTC-Ready to Heat/Cook (1.5% mix) witnessed flat growth
YoY,” Geojit said.

The brokerage noted LT Foods' ambitious five-year targets: The company aims to generate Rs 1,000 crore from its newly set up manufacturing facility in the UK. It also targets another Rs 1,000 crore from expanded distribution in Saudi Arabia over the next five years. The Ready-to-Cook and Ready-to-Eat (RTC/RTE) segment is projected to grow at roughly 35%,it said.

“The RTC/RTE segment is projected to grow at ~35% and is likely to achieve breakeven at around Rs 400cr in revenue by FY27 (Rs 200cr in FY25),” the brokerage said.

The brokerage also said that a short-term margin impact is expected due to the high-cost inventory in the US.