Results for half year and year ended on March 31, 2025
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Leo Dryfruits & Spices Trading reported strong FY25 results with revenue from operations rising to Rs. 8,731.11 lakhs from Rs. 6,216.59 lakhs in FY24, a growth of about 40%. Profit before tax grew to Rs. 1,271.92 lakhs (vs Rs. 936.29 lakhs) and profit after tax increased to Rs. 816.40 lakhs (vs Rs. 672.94 lakhs), translating to EPS of Rs. 5.75 (vs Rs. 5.29). The auditor (Ratan Chandak & Co LLP) issued an unmodified opinion but included an Emphasis of Matter paragraph flagging trade receivables of Rs. 12.81 lakhs overdue for over 3 years, which management says are recoverable. The company listed on BSE SME in January 2025 and raised Rs. 25.12 crore via IPO, of which Rs. 21.95 crore has been utilised so far for expansion, working capital and general corporate purposes. Operating cash flow was sharply negative at Rs. -3,087.90 lakhs, mainly due to a Rs. 5,071.54 lakh increase in trade receivables.
Strong top-line growth and higher profits are positive for shareholders, but the negative operating cash flow and rising receivables (now Rs. 7,244.68 lakhs, up from Rs. 2,240.48 lakhs) suggest cash collection is a watchpoint that could pressure liquidity despite the post-IPO equity infusion.