Leo Dry Fruits and Spices Trading Ltd IPO

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The company specializes in the manufacturing, processing, trading, and marketing of a wide range of spices, dry fruits, frozen/semi-fried products, and grocery items, operating under the brand names “VANDU” and “FRYD.” These products cater to a diverse customer base, offering high-quality goods that combine traditional flavors with modern convenience.

Product Categories

Spices
i. Whole Spices: Includes a variety of high-quality whole spices such as chili, turmeric, cumin, and coriander.
ii. Blended Spices: Special spice blends catering to diverse culinary needs.

Dry Fruits
i. Plain, Roasted, and Flavored Variants: Available in multiple packaging sizes to suit customer preferences.

Grocery Products
i. Ghee: Sold under the “VANDU” brand, manufactured by reliable third-party vendors adhering to strict quality standards.
ii. Seasonings and Other Grocery Items: Includes chili flakes, garlic powder, asafoetida (hing), black salt, pulses, sesame seeds, and more.

iv. Frozen/Semi-Fried Products : Marketed under the brand “FRYD”, offering products such as chiz bites and other ready-to-cook items.

Geographic Presence: – Manufacturing facilities in Thane, Maharashtra, strategically positioned for distribution and market access.

Vision and Growth Strategy

Their company aims to:
i. Expand product offerings under the “VANDU” and “FRYD” brands to cater to evolving consumer demands.
ii. Strengthen the processing and manufacturing verticals for greater control over product quality and cost efficiency.
iii. Enhance market penetration through strategic distribution partnerships and by entering new geographic regions.
iv. Invest in product innovation to develop new, high-demand items and maintain a competitive edge in the market.

With a focus on quality, customer satisfaction, and operational excellence, they are committed to becoming a leader in the spices, dry fruits, and grocery product industry.

Objects of the Leo Dry Fruits and Spices Trading Ltd IPO:

The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects: i. Funding working capital requirements of the company; ii. Branding, Advertisement and Marketing activities; iii. General corporate purposes.
DRHP of Leo Dry Fruits and Spices Trading Ltd IPO
RHP of Leo Dry Fruits and Spices Trading Ltd IPO

Leo Dry Fruits and Spices Trading Ltd IPO Details:

Open Date: Jan 01 2025
Close Date: Jan 03 2025
Total Shares: 48,30,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 25.12 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 51 - 52 Per Equity Share
Listing At: BSE SME
Listing Date: Jan 08 2025

Promoters And Management:

Mr. Kaushik Sobhagchand Shah, aged 57, is the Promoter, Chairman, and Managing Director of the Company. A Bachelor of Commerce graduate from the University of Bombay (1987), he brings over 26 years of experience in the dry fruits and spices business through his sole proprietorship, K. Sobhagchand Co. Since joining as Director on January 25, 2022, and being re-designated as Chairman and Managing Director on September 1, 2023, he has been instrumental in ensuring premium product quality, driving financial, compliance, and marketing activities, and steering the company’s business planning and development with a focus on industry trends and strategies. Mr. Ketan Sobhagchand Shah, aged 57, is the Promoter and Whole Time Director of the Company. A Bachelor of Commerce graduate from the University of Bombay (1987), he has 9 years of experience in the dry fruits and spices business through his proprietorship, J. Ketankumar Co. Since joining as Director on January 25, 2022, and becoming Whole Time Director on September 1, 2023, he has driven market penetration and retail segment growth through strategic domestic sourcing and strong customer relationships. He oversees the company's management, operations, and administration. Mr. Parth Ashish Mehta, aged 26, is the Promoter and Non-Executive Director of the Company. A Bachelor of Science graduate in Animation with a concentration in Visual Effects from The Los Angeles Film School (2022), he has been with the company since its inception. With experience as CEO of OneDesign Marketing Private Limited and as proprietor of Evolve Brand Development Solutions, he specializes in branding and digital strategies. His expertise focuses on enhancing the company’s B2C presence, driving market penetration, and strengthening the retail footprint of the “Vandu” and “FRYD” brands.

Financials of Leo Dry Fruits and Spices Trading Ltd IPO:

In Cr.
Particulars Sep 30, 2024 March 31, 2024 March 31, 2023 March 31, 2022
Revenue from Operations 17.88 62.16 36.43 5.26
EBITDA 3.53 11.13 6.20 0.11
EBITDA Margins 19.78% 17.91% 17.02% 2.09%
PAT 1.87 6.63 3.63 0.07
PAT Margins 10.47% 10.68% 9.97% 1.50%
CFOA (6.42) (14.57) (8.18) (2.70)

Comparison With Peers:

Companies Revenue EBITDA Margins PAT Margins D/E Ratio MCap P/E
Leo Dryfruits & Spices   (FY 2024) 62.16 Cr. 17.91% 10.68% 0.47 93.03 Cr. 14.03
Jetmall Spices and Masala (TTM) 1.11 Cr. -0.90% 0.90% 0.00 6.65 Cr. 665
HOAC Foods India  (TTM) 19.45 Cr. 12.90% 7.96% 0.07 56.80 Cr. 36.60
Madhusudan Masala (TTM) 203 Cr. 11% 5.91% 0.73 304 Cr. 26.30

Recommendation on Leo Dry Fruits and Spices Trading Ltd IPO:

Review and Recommendation of Leo Dry Fruits & Spices Trading IPO by team IZ is 3/10.

Lead Manager of Leo Dry Fruits and Spices Trading Ltd IPO:

  1. SHRENI SHARES PRIVATE LIMITED

Registrar of Leo Dry Fruits and Spices Trading Ltd IPO:

  1. Bigshare Services Private Limited

Company Address:

Leo Dry Fruits and Spices Trading Ltd A 812, MIDC Khairane Thane Belapur Rd, TTC Industrial Area, Koperkhairane, Thane, 400705 Phone: + 91 9321126141 Email: info@leodryfruitsandspices.com Website: https://leodryfruitsandspices.com/

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