Shreeji Global FMCG Limited is engaged in the manufacturing, processing, and trading of ground and whole spices, grains, pulses, oilseeds, and flour. The company earns revenue through domestic sales and exports of both branded and white-label products. Its brand “SHETHJI” is known for quality and purity, catering to retail, wholesale, and institutional clients across India and abroad.

Key clients include domestic retailers, wholesalers, corporate buyers, and export houses, ensuring a diverse customer mix. The company’s main manufacturing facilities are located at Plot Nos. 8 & 9, Shreenathji Industrial Zone-11, Wankaner Highway, Morbi, used for spices processing, and Plot No. 72, Kuvadwa Industrial Estate, Rajkot, for flour production. Facilities are equipped for cleaning, grading, sorting, grinding, and packaging, maintaining international standards.

The company’s product portfolio includes chilli powder, turmeric, cumin, coriander, sesame, kalonji, groundnut, fennel, flour, and pulses, covering both B2C and B2B markets. Products lie at the mid-to-end stage of clients’ value chain, directly impacting product quality and shelf life. The company holds strong order books across retail and bulk categories, ensuring continuous utilization of its processing capacity and efficient order execution.

Shreeji has announced expansion plans through the establishment of new blended/mixed spice manufacturing plants and a dedicated cold storage facility at Shrinathji Industrial Zone-11, Morbi. Total capex planned is ₹5,792.97 lakhs, including ₹2,900.76 lakhs for plant and machinery, ₹567.41 lakhs for factory premises, and ₹424.80 lakhs for solar power setup, to be financed through IPO proceeds and internal accruals.

As of August 2025, the company had 43 full-time employees and around 60 contractual workers. It exports to multiple international markets and has a strong geographical presence across India. The company’s bankers include HDFC Bank and SBI General Insurance, ensuring robust financial and risk management support.

Management and Growth Outlook

The company’s leadership includes Mr. Jitendra Kakkad (Managing Director) and Mr. Vivek Kakkad (Whole-Time Director), who have two decades of experience in agro-sourcing, trading, and processing. Their vision is to establish Shreeji Global FMCG as a leading name in India’s spice and agro-processing industry through modernization, automation, and brand building.

The management’s short-term growth plan focuses on setting up automated manufacturing lines for blended spices and multigrain flour and achieving higher operational efficiency and product consistency. Long-term objectives include export expansion, strengthening the ‘SHETHJI’ brand, and achieving steady double-digit revenue growth.

Funds for upcoming capex and expansion are planned through IPO proceeds, internal accruals, and debt, if required, ensuring minimal dilution and optimal utilization of resources. The promoters emphasize governance, quality control, and sustainability as key enablers for long-term growth.

Industry Overview

India’s FMCG and spice industry is valued at ₹1.8 lakh crore (2024) and expected to grow at a CAGR of 10–12%, driven by rising urbanization, food processing, and export demand. The global spice industry is valued at US$25 billion, projected to reach US$36 billion by 2030, growing at ~6% CAGR.

India remains the largest producer and exporter of spices, contributing ~75% of global spice varieties. Major exports include chilli (40%), cumin (11%), turmeric (8%), and coriander (3%). Export earnings from spices exceed US$4.5 billion annually, with major destinations being China, USA, Bangladesh, UAE, and Thailand.

The Indian FMCG market is driven by increasing packaged food consumption, rising middle-class income, and preference for branded products. With spice exports growing 15–17% annually, Shreeji Global FMCG is well-positioned to benefit from domestic and international demand through quality, innovation, and diversified distribution.

Major Risk Factors

1. Raw Material Price Volatility – Prices of agricultural commodities like chilli, turmeric, and coriander are seasonally volatile, affecting procurement costs and margins.
2. Competition Risk – The FMCG spice market is fragmented with strong competition from both organized brands and unorganized local players.
3. Execution Risk in Expansion – Delay or cost overrun in new factory or cold storage setup may affect timelines and ROI.
4. Dependence on Promoters – The company’s business decisions and strategy heavily depend on key promoters’ experience and leadership.
5. Export Market Risk – Dependence on select international buyers exposes the firm to currency fluctuations and regulatory challenges.
6. Brand and Quality Risk – Counterfeit or low-quality imitation products could harm brand reputation and customer trust.
7. Operational and Labour Risk – Heavy dependence on contractual labour for manufacturing could impact operations during workforce disruptions.

Key Strengths, Moat, and Opportunities

1. Diverse Product Range – Broad portfolio across spices, grains, pulses, and flour enhances revenue stability and reduces dependence on single product lines.
2. Strong Backward Integration – Direct sourcing from farmers ensures quality, cost efficiency, and control over supply chain.
3. Modern Processing Infrastructure – State-of-the-art facilities with hygienic processing, cold storage, and packaging enable export-grade production.
4. Experienced Promoters – Decades of experience in agri-commodity and spice processing industry provide strategic and operational depth.
5. Expanding Export Potential – Growing demand for Indian spices globally presents opportunity to scale export operations and margins.
6. Sustainability and Solar Integration – Planned solar power setup will reduce energy costs and carbon footprint, improving profitability.
7. Brand Strength and Customer Loyalty – The ‘SHETHJI’ brand enjoys strong recall in domestic markets due to its authenticity and consistent quality.