Leo Dryfruits & Spices Trading Wins Big Defence Order, Sees ₹250 Million of Orders

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Leo Dryfruits & Spices Trading Ltd. has landed a significant supply contract with the Defence Ministry’s Canteen Stores Department (CSD), anticipating purchase orders worth approximately ₹250 million over the next year. This milestone win underscores the company’s growing reputation in the spices and dry fruits sector and is set to boost both its business momentum and market profile.

Key Highlights:

Defence Canteen Contract: Leo Dryfruits & Spices Trading has entered into a one-year purchase order contract with the CSD, Ministry of Defence, for supplying spices, ghee, and other food items at rates finalized. The company anticipates the aggregate value of purchase orders placed during the contract period to be approximately ₹250 million.
Business Implication: The transaction represents a significant step-up for the Mumbai-based company, increasing its presence in the market and paving the way for other institutional deals. The shares of the company increased by almost 6% upon the announcement, indicating robust investor confidence.
Operational Strength: Leo Dryfruits & Spices Trading deals in manufacturing as well as trading and has a diverse portfolio of blended spices, dry fruits, and grocery products. The business has demonstrated strong financial growth with revenue increasing 70% year-on-year to ₹6.23 billion and net profit doubling to ₹66.4 million in FY24.
Quality Recognition: The firm is certified by ISO 22000:2018 and ISO 9001:2015, which testifies to the firm's emphasis on quality and food safety.
Growth Momentum: This deal is the sequel to another recent victory with Taj Group of Hotels, which solidifies Leo as an established supplier to institutional and premium customers alike.

Leo Dryfruits & Spices Trading's recent order from Defence Canteen Stores Department is set to give its growth curve a boost and solidify its presence in the highly competitive food products segment.

Source: Trade Brains, Business Standard, DSIJ