LT Foods wins 'Significant Achievement Certificate' - Awarded by CII and Food Future Foundation

LT Foods has been awarded a 'Significant Achievement Certificate' in the Category of 'Large Value Chain on Basmati Rice, for the year 2020 in a virtual ceremony of 11th CII Award for Food Safety & 1st Food Future Foundation National Award for Sustainable Sourcing. The Ceremony was addressed by Ms. Rita Teaotia, Chairperson, Food Safety and Standards Authority of India and several eminent National and International speakers. The award was given on the basis of Impact on Environment in terms of reduction in Water Usage, Energy, reduced use of Chemicals, Pollution and Waste Management and Promotion of biodiversity. The jury also considered Impact of sustainable practices on lives and livelihoods of people, who are a part of the supply chain, quantum of suppliers impacted in the value chain and other quantified Impacts.

Commenting on the occasion, Managing Director & CEO Mr. Ashwani Kumar Arora said that, "LT Foods has a progressive, sustainable, profitable and growing business model and one of the enabler to create the same is Crop Sustainability. For over a decade at LT Foods, we have been working diligently with the farmers to ensure the sustainability of the crop and the environment. It gives me immense pleasure to share that LT Foods is the only Company in its segment to be a part of the Sustainable Rice Platform (SRP). I would also like to thank CII and Future Food Foundation for recognizing LT Foods' efforts and awarding the Company with the coveted Significant Achievement Certificate."

LT Foods combines Sustainability and Market Linkages as the key drivers for farmer engagement. Almost ~10k farmers have already adopted SRP practices under the LT Agri Program. The company combines innovations in technologies and business requirements for most optimal outcome for all value chain players and the environment. The Agri program of LT Foods employs a 360-degree approach to reach out to farmers with knowledge, expertise for ease of farming, cost reduction and market support. Farmers under this program grow MRL compliant paddy with standards of residue meeting the requirement of the target country with veracity of compliant paddy.

The Foods Program is based on standard of SRP-Sustainable Rice Platform (www.sustainablerice.org). 12 major and 46 sub parameters are followed to meet these SRP objectives and the farmers in the program are certified for compliance with all the sustainability criteria. SRP Methods have audited, verifiable benefits for Ecology, Society and the Farmers that are audited once a year at the end of the harvesting season. In 2019, LT Foods saved 48 billion litres of ground water and ~30% less GH (combined effect of water & fertilizer reduction), while improving 15% household income of these farmers.

Shares of LT FOODS LTD. was last trading in BSE at Rs. 55.90 as compared to the previous close of Rs. 54.30. The total number of shares traded during the day was 1,67,607 and the deliverable quantity was 1,10,688 shares.

The stock hit an intraday high of Rs. 56.75 and intraday low of Rs. 55.50.

Source : Equity Bulls

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