Leo Dryfruits & Spices Trading Limited (BSE: 544329), a premium brand in the spice and dry fruit trading sector, has posted stellar financial results for the second half and full financial year ended 31 March 2025, showcasing a remarkable growth trajectory backed by operational excellence, strategic expansion, and strong demand.

In its audited results for H2 FY25, Leo reported a 346% surge in Profit After Tax (PAT) at ₹666.84 lakhs, up from ₹149.56 lakhs in H1 FY25. This was powered by a massive 288.48% increase in total income, which reached ₹6946.98 lakhs for H2, compared to ₹1788.24 lakhs in the previous half. Earnings per share (EPS) rose sharply to ₹4.35, up 278.26% from ₹1.15 in H1.

For the entire FY25, the company achieved a total income of ₹8735.22 lakhs, registering a 40.29% year-on-year growth compared to ₹6226.51 lakhs in FY24. EBITDA stood at ₹1482.13 lakhs, marking a 33.15% increase, while PAT rose by 21.31% to ₹816.40 lakhs from ₹672.96 lakhs in FY24. EPS for the year reached ₹5.75, up from ₹5.29.

Key Comments from Management

Mr. Kaushik Shah, Chairman and Managing Director, attributed this strong performance to enhanced operational efficiency, high-quality product offerings, and new customer acquisitions. He remarked:

“Our successful listing on the BSE SME platform was a significant milestone that underlines our governance, transparency, and commitment to long-term stakeholder value. As we move forward, we are focusing on scaling operations through our newly formed subsidiary and deepening relationships with premium hotel chains and government departments.”

Major Operational Highlights

The company reported several strategic and operational milestones that reflect its readiness for long-term growth:

Certified Manufacturer-Packer Recognition

Leo received official recognition from the Ministry of Consumer Affairs, Food & Public Distribution, affirming its compliance with Indian regulations on packaging, labelling, and quality across its product categories.

ISO 9001:2015 Certification Secured

The company earned this certification from Guardian Independent Certification Ltd, validating its commitment to high-quality standards in:

• Manufacture, supply, and export of spices

• Trading of dry fruits and dairy items

This positions Leo as a globally competitive brand with robust process control mechanisms.

ISO 22000:2018 Certification for Food Safety

Awarded by ROHS Certification Private Limited, this confirms the company’s adherence to stringent food safety norms, a key factor in both domestic and international food markets.

New Subsidiary: Leo Catering Services Private Limited

To expand its footprint in the food services space, the Board approved the formation of Leo Catering Services Private Limited, a wholly owned subsidiary focused on:

• Vegetarian catering, packaged and loose food services

• Specialised ice cream catering for events such as seminars, cultural programmes, and educational functions

• Retail and food outlets, including cafes, restaurants, kiosks, ice cream stores, and bakeries

The subsidiary will also handle the purchase, preservation, and sale of products like:

• Mineral and aerated waters

• Non-alcoholic beverages

• Confectionery and sauces

• Vegetarian packaged goods

Leo plans to operate across India and selectively target international markets, aiming for a broader and scalable business model.

Market Expansion and Strategic Tie-Ups

Leo is now engaging with premium hotel chains across India to supply its high-quality spices, dry fruits, and related grocery products. This initiative is expected to strengthen brand visibility and open new B2B revenue streams.

Additionally, the company has tied up with the Canteen Stores Department (CSD) of the Ministry of Defence, enabling it to access a large and loyal consumer base of defence personnel and their families, enhancing its national footprint.

Brand Overview: Vandu and FRYD Foods

Leo’s flagship brand “Vandu” continues to deliver a variety of whole and blended spices known for their aroma, purity, and flavour. The company actively works to eradicate adulteration in the Indian spice market, maintaining trust and authenticity.

In parallel, Leo operates “FRYD Foods”, a frozen and semi-fried snacks brand that caters to the fast-growing convenience food segment. The brand has built a loyal following for its unique flavours and consistent quality.

BSE SME Listing

Leo Dryfruits & Spices Trading Limited got successfully listed on the BSE SME platform on 8 January 2025. This move brought the company into the public investment domain, providing better visibility and capital access.

Road Ahead

With robust financials, industry-recognised certifications, new subsidiary launch, and strategic government and hospitality tie-ups, Leo is now set on a path of sustained and diversified growth. The company plans to continue investing in quality control, supply chain optimisation, and market expansion to strengthen its leadership in the spices and dry fruits industry.

Investor Outlook

Given its performance and future outlook, Leo presents a strong case for investor confidence, especially among those interested in consumer goods, FMCG, and food service sectors. The company’s adherence to transparency and compliance further solidifies its reputation as a trustworthy small-cap player with growth potential.

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