Leo Dryfruits & Spices Trading Limited, (BSE: 544329), One of the trusted names in the sourcing, processing, trading, and marketing of premium-quality spices, dry fruits, and grocery products, has approved the incorporation of a wholly owned subsidiary in India, Leo Catering Services Private Limited.
The new entity is set to focus on food catering services. Its offerings will include a range of catering options from packaged and loose vegetarian food services to specialized ice cream catering at various events such as programs, conventions, seminars, cultural and educational functions, and more.
Leo Catering Services will manage the purchase, preservation, and sale of mineral and aerated waters, as well as other non-alcoholic beverages, all curated to complement its offerings. In addition, it will cater to the needs of packaged and non-packaged vegetarian food items, including confectionery, baked goods, sauces, and other related products that complement a vegetarian diet. The subsidiary is also expected to establish and operate various food service outlets, such as cafes, restaurants, ice cream stores, kiosks, quick service restaurants, and bakeries across India and internationally.
This move will allow Leo Dryfruits & Spices Trading to achieve diversification in its existing trading operations. By venturing into the catering business, the company can create a more integrated supply chain-from sourcing premium ingredients to delivering them as part of a complete food service experience. Additionally, the subsidiary will have the opportunity to utilize ready-to-eat products from Leo's portfolio, offering quick and convenient vegetarian dining solutions.
This expansion is currently subject to regulatory approvals.
Commenting on the development, Mr. Kaushik Shah, Chairman and Managing Director of Leo Dryfruits & Spices Trading Limited said, "With the incorporation of Leo Catering Services Private Limited, we are taking a significant step forward in our offerings. This move not only complements our core business of sourcing and delivering premium spices and dry fruits but also enables us to connect more directly with the end consumer. Additionally, our current range of ready-to-eat products further enhances our service portfolio, providing quick and convenient vegetarian dining solutions.
By extending into the catering sector, we are opening up exciting new opportunities for growth and innovation, allowing us to better manage quality control and enhance customer satisfaction. This strategic expansion aligns perfectly with our commitment to authenticity and excellence, setting the stage for sustainable long-term success."
Shares of Leo Dryfruits & Spices Trading Limited was last trading in BSE at Rs. 52.50 as compared to the previous close of Rs. 52.67. The total number of shares traded during the day was 12000 in over 6 trades.
The stock hit an intraday high of Rs. 52.55 and intraday low of 52.50. The net turnover during the day was Rs. 630100.00. |
