Leo Dryfruits & Spices Trading has fixed Tuesday, September 29, 2026, as the record date to determine eligibility for the final dividend for the financial year ended March 31, 2026. The payout remains contingent upon approval by shareholders at the company's seventh annual general meeting scheduled for the same day.

The board of directors issued the intimation pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting will be conducted through video conferencing or other audio-visual means starting at 11:00 am.

Corporate Action Details

Shareholders whose names appear in the register of members or the beneficial owners list maintained by depositories as of the close of business on September 29, 2026, will be eligible to receive the dividend if declared.

Kaushik Sobhagchand Shah, Chairman and Managing Director, signed the disclosure filed with BSE Limited.

Leo Dryfruits & Spices Trading posted a near doubling of revenue in FY26, driven by aggressive portfolio diversification and channel expansion. The company’s financial results for the year ended March 31, 2026, reflect a strategic pivot from traditional spice trading to a broader packaged food platform.

Revenue from operations surged 99.6% year-on-year to ₹17,424.10 lakh (₹174.24 crore), up from ₹8,731.11 lakh in FY25. This top-line growth was underpinned by a massive expansion in the dry fruits segment, which grew from ₹923.50 lakh to ₹7,385.35 lakh, and blended spices, which jumped from ₹34.13 lakh to ₹1,017.40 lakh.

Financial Performance

While revenue growth was robust, profitability metrics showed divergence. EBITDA rose 34.0% to ₹198.52 lakh, but the EBITDA margin contracted sharply from 17.0% in FY25 to 11.4% in FY26. Profit after tax (PAT) increased 29.1% to ₹105.39 lakh (₹10.54 crore), with PAT margin falling from 9.4% to 6.0%.

Strategic Expansion and M&A

The margin compression coincides with significant capital deployment into new categories. The company acquired a 60% stake in STK Food Processing Private Limited, operating under the POPMAK brand, to enter the makhana and chana sattu segments. This acquisition aims to strengthen its presence in the institutional CSD (Canteen Stores Department) market, expanding its combined CSD product portfolio to 16 items.

Additionally, Leo expanded its distribution footprint by entering quick commerce through Zepto and strengthening organised retail ties with Apna Bazaar. The company also secured Category A empanelment with IRCTC for its VANDU millet-based products.

What the Numbers Show

A critical observation is the disproportionate rise in working capital requirements relative to profit generation. While revenue doubled, cash generated from operations turned negative at -₹632.59 lakh, compared to a negative ₹2,745.37 lakh in FY25. Inventories surged by ₹2,364.68 lakh, indicating heavy stock buildup to support the new product lines. Furthermore, finance costs more than doubled to ₹325.72 lakh from ₹158.64 lakh, reflecting increased leverage to fund this rapid scaling phase. The debt-to-equity ratio rose to 0.50 from 0.33.

Corporate Actions

The company’s 7th Annual General Meeting is scheduled for September 29, 2026. Key agenda items include the re-appointment of Mr. Jenish Ketan Shah as a director and the re-appointment of Mr. Ketan Sobhagchand Shah as Whole Time Director for five years. The board also seeks approval to increase the remuneration of both Mr. Kaushik Sobhagchand Shah and Mr. Ketan Sobhagchand Shah from ₹12 lakh to ₹18 lakh per annum, effective April 1, 2026.

A final dividend of ₹0.50 per equity share has been recommended, subject to shareholder approval.