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Dugar Spices & Food Products Pvt. Ltd

DIF II Investment

USD 4 Million

Investment Date

Dugar Spices & Food Products Pvt Ltd (DSF), established in 1999, is a leading manufacturing company in
Nepal and a key player in the Century Group, which spans sectors like Manufacturing, Service, Hospitality, Trading, and Financial Services. DSF has a dominant market position, particularly in the snacks segment where it leads without any close competitors, and it also holds a significant share in the spices segment, underscoring its strong presence in the Fast-Moving Consumer Goods (FMCG) sector.

With an extensive product portfolio featuring over 453 items across 10 categories, DSF exports to 18 countries, demonstrating its strong international presence. Major product segments include spices, snacks, breakfast cereals, pickles, tea, and other edible FMCG products. DSF’s commitment to quality is validated by certifications such as ISO, NS, Halal, FDA, and Quality Austria.

DSF’s growth is driven by strategic expansion and operational excellence. The company exports to countries including the United States, Canada, Australia, the Middle East, Japan, Finland, Russia, and Korea. It operates with approximately 450 factory workers and 160 operational staff from its head office and factory in Biratnagar and a corporate/liaison office in Kathmandu. DSF’s extensive distribution network, with around 250 distributors, ensures its products are available at over 100,000 retailers across Nepal. The company is focused on expanding its export market, with discussions underway with potential collaborators in the Middle East and Europe. To support this growth, DSF is expanding its infrastructure with new production lines and increased working space to meet growing demand and enhance revenue. Dolma Fund Management has invested $4 million in DSF and has plans to support the company’s growth strategies, indicating strong investor confidence and providing additional resources for growth and development.

The FMCG sector in Nepal has shown a 20% Compound Annual Growth Rate (CAGR) in recent years, a trend expected to continue. In fiscal year 2022, Nepal imported USD 58 million worth of breakfast cereals, snacks, and spices. Food imports from India alone accounted for approximately USD 1 billion in fiscal year 2021, while total food imports amounted to USD 2.43 billion. This highlights a significant opportunity for import substitution in this sector.

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