KRBL

May 14 (Reuters) - KRBL Ltd KRBL.NS:

• KRBL Q4 CONSOL NET PROFIT 1.55 BILLION RUPEES

• KRBL Q4 CONSOL REVENUE FROM OPERATIONS 15.26 BILLION RUPEES

• KRBL DECLARES DIVIDEND OF 4.5 RUPEESPER SHARE

Source text: ID:nnAZN4SWA2E

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Feb 27 (Reuters) - KRBL Ltd KRBL.NS:

• KRBL - ARBITRAL TRIBUNAL DELIVERS AWARD IN FAVOR OF RELIABLE TRADING COMPANY

• KRBL - ORDERED TO PAY SAR 31 MILLION, $2.2 MILLION

Source text: ID:nBSEc83txn

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Jan 23 (Reuters) - KRBL Ltd KRBL.NS:

• APPELLATE AUTHORITY ALLOWS APPEALS, SETS ASIDE ORDERS

Source text: ID:nBSE6bKHRX

Further company coverage: KRBL.NS

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By Rajendra Jadhav and Manoj Kumar

MUMBAI/NEW DELHI, Jan 13 (Reuters) - India's basmati rice exports to Iran have slowed to a near standstill amid the protests gripping the Gulf country, with suppliers wary of new deals due to the risk of non-payment and potential additional U.S. tariffs, trade officials said.

U.S. President Donald Trump said on Monday that any country trading with Iran would face a 25% tariff on its commerce with the U.S., a move exporters say has made Indian suppliers even more reluctant to sign new contracts with Iranian buyers.

"The proposed 25% levy under the Trump framework adds an additional challenge to the Indian basmati rice sector," said Akshay Gupta, head of bulk exports at KRBL Ltd KRBL.NS, a leading rice exporter.

India is Iran's largest rice supplier, with the staple accounting for nearly two-thirds of all Iranian imports from the country.

"We're worried about the payments for rice shipped in the last two months," said a New Delhi-based exporter, who declined to be named.

"In some cases, buyers report they did not receive the full quantity; in others, they have fled the country because of the ongoing protests," the exporter said.

The current protests began last month in Tehran, with shopkeepers condemning the rial currency's free fall.

Unrest has spread nationwide amid deepening distress over economic privations arising from rocketing inflation driven by mismanagement and Western sanctions, and curbs on political and social freedoms.

Importers have conveyed their inability to honour existing commitments and remit payments to India, creating heightened uncertainty for exporters, Dev Garg, vice president of the Indian Rice Exporters Federation (IREF), said in a statement.

India's Ministry of Commerce and Industry declined to comment.

Iran previously supplied foreign exchange to food importers at a subsidised rate, but it has now suspended that provision, effectively making imports much more expensive for buyers, said Vijay Setia, a top rice exporter.

India's exports to Iran, largely food items such as rice, fell to $1.24 billion in the 2024–25 fiscal year ending March from $3.51 billion in 2018–19, while imports declined to $440 million from a peak of $13.53 billion in 2018–19, Indian government data showed.

"Iran's currency has crashed, and exporters are worried whether shipments already sent will be cleared and whether buyers can pay," said Ajay Sahai, director general of the Federation of Indian Export Organisations.

Major Indian exports to Iran include basmati rice and pharmaceuticals, while imports consist mainly of fresh and dried fruits.

(Reporting by Rajendra Jadhav and Manoj Kumar. Editing by Mark Potter)

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Oct 1 (Reuters) - KRBL Ltd KRBL.NS:

• KRBL LTD - WINS BID FOR PROPERTIES IN PANIPAT, HARYANA

• KRBL LTD - FINAL BID 4.03 BILLION RUPEES

Source text: ID:nNSE4pwZLL

Further company coverage: KRBL.NS

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Sept 24 (Reuters) - KRBL Ltd KRBL.NS:

• KRBL LTD - APPOINTS AZB & PARTNERS AS INDEPENDENT LAW FIRM TO UNDERTAKE REVIEW OF OBSERVATIONS

Source text: ID:nNSE6Yv3SX

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** Shares of KRBL Ltd KRBL.NS surge 9.7% to 407.55 rupees, eyes best day since March 2024

** Rice exporter's first-quarter profit jumped 74% to 1.51 billion Indian rupees ($17.2 million) helped by higher exports

** India had placed curbs on rice exports in the year-ago period

** Around 2.9 million shares traded, 3.9x the 30-day avg volume

** India Gate basmati rice maker's shares up ~36% YTD vs GRM Overseas' GRMO.NS ~75% surge, while Chaman Lal Setia Exports CLSE.NS down 30% and Kohinoor Foods KOFO.NS down ~23%

($1 = 87.5970 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)

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** Shares of KRBL KRBL.NS climb 5.7% to hit over 10-months high at 341.85 rupees

** KRBL, known for its "India Gate" brand of basmati rice, reported 35% y/y rise in Q4 consol net profit on strong overseas demand for its branded and private label products

** Stock up 14.3% YTD, while peer LT Foods LTOL.NS down 9.6%

(Reporting by Manvi Pant in Bengaluru)

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May 16 (Reuters) - Basmati rice producer KRBL KRBL.NS on Friday reported a rise in fourth-quarter profit, helped by the strong overseas demand for its rice products.

KRBL, known for its 'India Gate' brand of basmati rice, reported consolidated net profit of 1.54 billion rupees ($18 million) in the fourth quarter, up 35% from a year ago.

India had eased almost all curbs on non-basmati and basmati rice exports late last year to reduce surging inventories and regain market share.

The government had also removed minimum export price for basmati rice to help thousands of farmers who complained about a lack of access to lucrative overseas markets such as Europe, the Middle East and the U.S.

The move boosted export volumes as Indian basmati rice is now more competitively priced in global markets.

The company's export revenue grew 45% in the fourth quarter. Increasing export revenue will partly contribute to margin improvement next year, it said.

KRBL's agricultural segment, which includes India Gate basmati rice brand and non-basmati rice, saw a 10% rise in quarterly revenue. The segment accounted for nearly the company's entire revenue during the quarter.

($1 = 85.5550 Indian rupees)

(Reporting by Shivani Tanna in Bengaluru; Editing by Shreya Biswas)

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Feb 6 (Reuters) - India's KRBL KRBL.NS reported its sixth straight quarterly profit fall on Thursday as a rise in expenses more than offset the impact of strong sales of its rice products.

KRBL, which makes the 'India Gate' brand of basmati rice, reported a 1% year-on-year fall in consolidated net profit to 1.33 billion rupees ($15.2 million) in the third quarter.

This was KRBL's slowest profit drop in six quarters.

The company's revenue from operations rose 17% to 16.82 billion rupees, led by a 17% jump in its agricultural business, which includes all types of rice apart from seed and bran.

Revenue from exports more than doubled to 5.63 billion rupees.

Total expenses also rose by 17%.

India eased almost all curbs on non-basmati and basmati rice exports late last year as part of its efforts to reduce surging inventories and to regain market share. India accounts for around 75% of global basmati production.

The government also removed the so-called floor price, or minimum export price, for basmati rice to help thousands of farmers who complained about a lack of access to lucrative overseas markets such as Europe, the Middle East and the U.S.

Basmati is not widely consumed in India, and the government does not buy the variety to build state reserves, leading to producers exporting a majority of their stock.

Rival LT Foods LTOL.NS reported a lower quarterly profit on higher costs.

($1 = 87.5560 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Varun H K and Mrigank Dhaniwala)

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Nov 13 (Reuters) - KRBL Ltd KRBL.NS:

• KRBL SEPT-QUARTER CONSOL NET PROFIT 1.03 BILLION RUPEES

• KRBL SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 12.7 BILLION RUPEES

Source text: ID:nBSE7lKdgN

Further company coverage: KRBL.NS

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** Shares of India's rice stocks uptick after New Delhi removes floor price for non-basmati white rice exports

** Removal of floor price will make Indian supplies competitive, as restrictions, to sell relatively cheaper grades of the staple in world markets, no longer exists

** "Kohinoor" brand owner Kohinoor Foods KOFO.NS jumps 5%

** GRM Overseas GRMO.NS and Chaman Lal Setia Exports CLSE.NS rise 3.8% and ~2% respectively

** KRBL KRBL.NS, which houses "India Gate" brand, climbs 2.4% respectively

** "Daawat" parent LT Foods LTOL.NS up 1%

(Reporting by Hritam Mukherjee in Bengaluru)

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** Indian rice exporters gain between 1.4% and 4% after govt. lifts most curbs on exports of non-basmati white rice

** Kohinoor Foods KOFO.NS and Chaman Lal Setia Exports CLSE.NS, up 4% each, lead gains

** KRBL KRBL.NS and LT Foods LTOL.NS rise 1.5% and 1.9%, respectively, while GRM Overseas GRMO.NS adds 3%

** Export curbs lifted due to above-average monsoon rains seen boosting crop yields and overflowing stocks in state granaries

** YTD, LTOL top gainer among pack with ~99% rise, while KRBL, weakest stock, is down ~19%

(Reporting by Nandan Mandayam in Bengaluru)

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By Mayank Bhardwaj and Rajendra Jadhav

NEW DELHI/MUMBAI, Sept 24 (Reuters) - India's decision to remove the floor price for basmati rice exports is expected to spur a flurry of orders from the Middle East, Europe, and the Americas, leading exporters said, helping New Delhi to increase its share of the global market.

The world's biggest rice exporter earlier this month removed a floor price of $950 a metric ton for basmati rice, weeks ahead of the arrival of the new season crop.

"This policy change has enabled Indian exporters to offer basmati rice at more competitive prices globally, which is likely to drive higher export volumes," Akshay Gupta, head of bulk exports at KRBL Ltd KRBL.NS, told Reuters.

The minimum export price (MEP) posed a barrier to exporting certain basmati rice grades, and its removal has opened up opportunities for global buyers to access the full range of options, said Gaurav Bhatia, director at DD International, one of the top basmati rice exporters.

India and Pakistan are the only growers of premium-grade basmati rice, and the Indian restrictions helped Pakistan gain market share in some categories.

However, with the removal of the MEP, India will be able to reclaim that lost share, said Dev Garg, the director of ViExport, a New Delhi-based exporter.

India's basmati rice exports during April to July, the first four months of the fiscal year, jumped 20% from a year ago to 1.9 million metric tons despite the MEP.

The country exported a record 5.2 million tons of rice last fiscal year as Canada, Iraq, Oman, Saudi Arabia, and the United Kingdom raised purchases, offsetting the impact of lower buying by Iran.

Basmati is not widely consumed in India, and the government does not buy the variety to build state reserves, unlike common grades of rice.

India's basmati rice production is expected to rise by 10-12% this year because of a favourable monsoon, which could further help New Delhi in increasing exports, said KRBL's Gupta.

(Reporting by Rajendra Jadhav and Mayank Bhardwaj; Editing by Mark Potter)

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** Shares of Indian rice companies surge on report of government removing floor price for basmati rice exports

** This will help boost overseas sales of the premium grade and aid farmers struggling with debt and higher costs

** India is the world's largest rice exporter

** 'India Gate' basmati rice brand owner KRBL KRBL.NS gains 4.7%, 'Daawat' brand owner LT Foods LTOL.NS jumps 5.7%

** GRM Overseas GRMO.NS and Kohinoor Foods KOFO.NS up 2.7% and 9.8%, respectively

** KOFO set to snap three straight sessions of losses, down ~8% YTD, while KRBL down ~15%

** YTD GRMO, LTOL up 39% and ~112%, respectively

(Reporting by Manvi Pant in Bengaluru)

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** Shares of rice exporter KRBL KRBL.NS down 6% at 299 rupees, biggest intra-day pct loss since Nov. 9

** Co on Wednesday reported fourth straight qtrly profit fall on Wednesday, hurt by lower demand for its basmati rice

** YTD, KRBL down ~15%, while rival LT Foods LTOL.NS is up 44%, Adani Wilmar ADAW.NS down 1.9%

(Reporting by Sethuraman NR in Bengaluru)

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July 31 (Reuters) - KRBL Ltd KRBL.NS:

• KRBL Q1 CONSOL NET PROFIT 865.6 MILLION RUPEES

• KRBL Q1 CONSOL REVENUE FROM OPERATIONS 11.99 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: KRBL.NS

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BENGALURU, July 25 (Reuters) - India's LT Foods LTOL.NS posted a bigger profit for the twelfth consecutive quarter on Thursday, bolstered by strong demand for its basmati rice.

The company, which makes 'Daawat' and 'Royal' basmati rice, said consolidated net profit increased 11.5% to 1.53 billion rupees ($18.3 million) in the April-June quarter.

According to official data, India's basmati rice exports grew by 13% to $1.04 billion from April to May, highlighting strong performance in international markets during the quarter.

LT Foods, whose biggest export market is the United States, said revenue from operations rose about 16% to 20.71 billion rupees. It does not segregate its revenue by segments or geography.

India plans to lower the floor price for basmati rice exports as rice inventories hit a record high, helping it retain market share in the face of Pakistan's record exports.

This could benefit rice exporters, including LT Foods and its rival KRBL KRBL.NS, which makes 'India Gate' basmati rice. KBRL is due to announce its results next week.

LT Foods' shares were off 0.5% after the results, trimming their year-to-date gains to about 42.5%. KBRL's shares were down 3.5% on the day and are off 18% this year.

($1 = 83.7026 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru; Editing by Savio D'Souza)

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** Shares of Indian rice companies rise on report government considering relaxing restrictions

** Indian government might relax restrictions on exports of some rice varieties, local media reported citing sources

** Govt may cut export duty on parboiled rice, mulls minimum export price for basmati shipments, report adds

** 'Daawat' basmati rice brand owner LT Foods LTOL.NS jumps 13%; 'India Gate' brand owner KRBL KRBL.NS rises 8.8%

** GRM Overseas GRMO.NS and Kohinoor Foods KOFO.NS up 6.4% and 7.3%

** YTD GRMO and LTOL climbed 17% and 43%, KRBL and KOFO shed 11.2% and 2% respectively

(Reporting by Hritam Mukherjee in Bengaluru)

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BENGALURU, May 20 (Reuters) - Indian exporter of branded basmati rice KRBL KRBL.NS said on Monday its fourth-quarter profit fell 3.3%, as higher expenses outpaced a steady demand for its flagship product.

KRBL's consolidated net profit fell to 1.14 billion rupees ($13.7 million) for the quarter from 1.18 billion rupees a year earlier, marking its third consecutive quarterly profit decline following five quarters of growth, according to LSEG data.

The rice processing company known for its flagship brand 'India Gate' said its total expenses inched up to 11.74 billion rupees from 11.64 billion rupees a year earlier, due to a rise in cost of materials.

The basmati rice producer's agricultural segment, which includes India Gate basmati rice brand, non-basmati rice, seed and bran, saw a 2.2% in revenue. The segment accounted for about 96% of the company's total revenue.

KRBL's results come amid concerns due to prevailing geopolitical tensions in the Middle East, which is the company's key market, accounting for over 67% of basmati exports.

It said total revenue from operations rose nearly 3% to 13.18 billion rupees.

Peer LT Foods LTOL.NS reported a rise in quarterly profit last week, boosted by strong demand for its basmati rice.

KRBL recommended a final dividend of 4 rupees per share for the financial year ended March 31, 2024.

The company's shares fell 24% so far this year.

($1 = 83.2800 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru; Editing by Krishna Chandra Eluri)

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By Rajendra Jadhav

MUMBAI, Feb 29 (Reuters) - India's basmati rice exports are likely to fall in 2024 after nearing a record high last year, as rival Pakistan is offering the grain at competitive prices amid a rebound in production, industry officials said.

India and Pakistan are the leading exporters of the premium long-grain variety of rice, famous for its aroma, to countries such as Iran, Iraq, Yemen, Saudi Arabia, the United Arab Emirates, and the United States.

India's exports of basmati rice surged 11.5% from a year earlier to 4.9 million metric tons in 2023, just shy of the record high of 5 million tons hit in 2020, on lower supplies from Pakistan and stocking efforts by importing countries, industry officials said.

Basmati rice shipments helped the world's biggest rice exporter to garner a record $5.4 billion in 2023, up nearly 21% from the previous year, because of higher prices, government data showed.

"Last year, buyers were hustling to stock up when Pakistan was facing production issues. This year, however, Pakistan offers lower prices than India due to increased production," Vijay Setia, a leading exporter based in Haryana state of India, said.

Islamabad's total rice exports could jump to 5 million tons in 2023/24 financial year, up from the last year's 3.7 million tons, Chela Ram Kewlani, chairman of Rice Exporters Association of Pakistan (REAP) said last month.

The depreciation of the Pakistani rupee has made Pakistan's exports more competitive, according to Akshay Gupta, head of bulk exports at KRBL Ltd KRBL.NS.

Meanwhile, lower export demand amid an estimated 10% rise in India's basmati rice production has started pulling down basmati prices in that country, said Gupta.

Iran, the biggest buyer of Indian basmati rice, slashed purchases by 36% in 2023, but higher shipments to Iraq, Oman, Qatar, and Saudi Arabia offset the shortfall, according to data compiled by India's Ministry of Commerce and Industry.

Indian exports had lost momentum in September and October as the government imposed minimum export price (MEP) on basmati rice, but they quickly recovered, said a New-Delhi-based exporter.

In August, India imposed the MEP on basmati rice shipments at $1,200 per ton, exceeding prevailing market rates, before lowering it to $950 in October.

However, exports began faltering again in January, and may decline further in the near term as buyers delay purchases due to increased freight costs caused by disruptions in shipping via the Red Sea, exporter Vijay Setia said.

"Buyers are holding ample inventory; there's no need for them to rush," he said.

(Reporting by Rajendra Jadhav; Editing by Mrigank Dhaniwala)

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BENGALURU, Feb 13 (Reuters) - KRBL KRBL.NS reported a nearly 35% drop in third-quarter profit on Tuesday, hit by a weak demand for its India Gate basmati rice brand in international markets, leading to a 6.4% decline in its shares.

Consolidated net profit was 1.34 billion rupees ($16.1 million) for the quarter ended Dec. 31, compared with 2.05 billion rupees a year earlier. The company marked its second consecutive quarterly profit decline, following five quarters of growth.

Export revenue slumped 47%, the company said in an exchange filing. Total revenue from operations fell 6.4% to 14.37 billion rupees.

KBRL earns more than two-thirds of its revenue from the Middle East, the world's largest consumer of basmati rice.

Revenue from the agricultural segment, which includes India Gate basmati rice brand, non-basmati rice, seed and bran, declined about 7%. The segment contributed more than 90% of its total revenue.

Earlier this month, LT Foods LTOL.NS, which owns rival Daawat brand, posted a nearly 37% jump in quarterly profit.

($1 = 83.0075 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru; Editing by Dhanya Ann Thoppil)

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** Shares of rice manufacturers and exporters like KRBL KRBL.NS, LT Foods LTOL.NS and Chaman Lal Setia CLSE.NS shed between 1% and 4.5%

** Fall after government directs rice industry associations to ensure that the prices in domestic market are brought down to optimal levels, with immediate effect

** "Domestic prices of rice are rising despite a good crop this Kharif, ample stocks with Food Corporation of India and various regulations in place on rice exports," says government

** A cut in domestic rice prices will likely weigh on the revenue of rice manufacturers, according to two analysts

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Shares of rice exporters Kohinoor Foods KOFO.NS, KRBL KRBL.NS, LT Foods LTOL.NS and Chaman Lal Setia CLSE.NS up between 2% and 3.3%

** Reuters reports India signed contracts to export about 500,000 metric tons of new season basmati rice after robust demand from top buyers in Europe and Middle East

** KOFO and KRBL down 29.4% and 10.7% YTD, respectively, while LTOL and CLSE have risen 73% and 65%

(Reporting by Rama Venkat in Bengaluru)

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Nov 14 (Reuters) - KRBL Ltd KRBL.NS:

• KRBL- DELHI HIGH COURT DIRECTED CO TO MAINTAIN STATUS QUO WITH AQM AS SOLE, EXCLUSIVE DISTRIBUTOR IN SAUDI ARABIA FOR RETAIL, ONLINE SALES CHANNELS

• KRBL- DELHI HIGH COURT DIRECTED CO TO MAINTAIN STATUS QUO WITH AQM TILL NEXT DATE OF HEARING SCHEDULED FOR JAN 11, 2024

Source text for Eikon: ID:nBSE9mQfDy

Further company coverage: KRBL.NS

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BENGALURU, Nov 9 (Reuters) - KRBL KRBL.NS on Thursday reported a 28.1% drop in second-quarter profit as India's top exporter of branded basmati rice was hit by weakness in its mainstay agricultural segment.

Consolidated net profit at the 'India Gate' basmati rice maker fell to 1.53 billion rupees ($18.37 million) for the quarter, from 2.13 billion rupees a year ago.

The company's agricultural segment, which includes agricultural commodities like rice, furfural, seed and bran, accounted for about 95.2% of total sales and fell 9.3%.

India, the world's biggest exporter of rice, had imposed a $1,200 per ton minimum export price (MEP) on basmati rice shipments in August to cool local prices, a move that may have taken a hit on exports for rice producers and sellers.

However, it reduced the minimum export price to $950 per metric ton last month, expecting the move will reinstate the competitiveness of Indian basmati rice shipments in global markets.

The rice processing company said total revenue from operations fell 8.03% to 12.13 billion rupees.

For the preceding five quarters, KRBL has reported a rise in its profit.

KRBL shares fell as much 9.2% after earnings.

($1 = 83.2800 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru)

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** Shares of Indian rice companies like LT Foods LTOL.NS, KRBL KRBL.NS, Kohinoor Foods KOFO.NS, GRM Overseas GRMO.NS and Chaman Lal Setia Exports CLSE.NS up between 2.6% and 5.6%

** Rise after India cut floor price for basmati rice exports to $950 per metric ton from $1,200, according to a Reuters report citing a government source

** The reduction will reinstate competitiveness of Indian basmati rice shipments at the global markets - Atul Garg, GRMO MD, per the report

** KOFO, LTOL, CLSE, KRBL, GRMO have all risen since the floor price cut likelihood was reported earlier this week

(Reporting by Varun Vyas in Bengaluru)

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** Shares of rice exporters such as Kohinoor Foods KOFO.NS, KRBL KRBL.NS, LT Foods LTOL.NS and Chaman Lal Setia CLSE.NS climb between 3% and 7%

** India is expected to cut the floor price or minimum export price (MEP) for basmati rice exports to $950 per metric ton from $1,200 a metric ton set in August, Reuters reports

** A cut in floor price could boost trade in basmati rice that was hit after India imposed the $1,200 a metric ton MEP

** If gains hold, KOFO, KRBL and CLSE will likely snap four straight sessions of losses

(Reporting by Rama Venkat in Bengaluru)

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** Shares of rice exporters such as Kohinoor Foods KOFO.NS, KRBL KRBL.NS, LT Foods LTOL.NS and Chaman Lal Setia CLSE.NS surge between 3% and 11%

** Reuters reports India to cut floor price - or minimum export price - for basmati rice exports to $850 a metric ton from $1,200 a metric ton

** Move to help millers and traders ship out the rice grade after they complained about a sharp drop in overseas sales

** Last month, India fixed floor price for basmati rice shipments at $1,200 a metric ton to help New Delhi ensure non-basmati rice was not exported as basmati rice

** CLSE soars as much as 10.6% to hit a record high; KOFO up 3.3%, LTOL up 6.1%, both scaling two-week highs

(Reporting by Rama Venkat in Bengaluru)

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Aug 28 (Reuters) - KRBL Ltd KRBL.NS:

• SET LIMIT WILL NOT SIGNIFICANTLY IMPACT EXPORT ACTIVITIES OF CO

Source text for Eikon: ID:nBSE6z7Bxf

Further company coverage: KRBL.NS

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