Introduction to Mother NutriFoods and Its Business
Mother NutriFoods Limited is a B2B peanut butter manufacturing company based in Gujarat, India. The company offers a diverse range of peanut butter flavors and products under its own brand “Spread Eat,” which is marketed internationally in countries like Libya, Dubai, and recently Japan. Alongside its branded products, Mother NutriFoods provides private labeling services for a strong portfolio of international clients across the UK, Canada, South Africa, the UAE, USA, and more.
The business primarily generates revenue from peanut butter, with multiple flavor options such as chocolate, honey, coconut, cinnamon, and strawberry. Product ranges include natural, creamy, crunchy, less fat, whole nut, high protein, and no added sugar varieties. This diversified product mix caters to various consumer preferences, making the company well-positioned in a growing health and wellness segment.
IPO Issue Details in Table Format
| Parameter | Details |
|---|---|
| Issue Size | ₹9.50 Crores (approximate) |
| Price Band | ₹80 to ₹85 per equity share |
| Issue Open Date | To Be Announced (TBA) |
| Issue Close Date | To Be Announced (TBA) |
| Allotment Date | To Be Announced (TBA) |
| Listing Date | To Be Announced (TBA) |
| Registrar | Bigshare Services Pvt. Ltd. |
| Grey Market Premium (GMP) | ₹5 to ₹7 per share (approximate) |
Note: Exact issue and date details are expected closer to the official launch.
Key Financial Highlights (Restated Audited Financials)
| Financial Year/Period | Revenue (₹ Lakhs) | EBITDA (₹ Lakhs) | EBITDA Margin (%) | PAT (₹ Lakhs) | PAT Margin (%) | EPS (Basic) (₹) | Net Worth (₹ Lakhs) | RoE (%) |
|---|---|---|---|---|---|---|---|---|
| Sep 30, 2025 (6 months) | 5025 | 744 | 14.81 | 532 | 10.58 | 5.41 | 3,037 | 19.27 |
| FY 2024-25 | 9024 | 1,022 | 11.32 | 647 | 7.17 | 7.06 | 2,480 | 36.78 |
| FY 2023-24 | 8092 | 848 | 10.48 | 477 | 5.90 | 5.35 | 1,036 | 59.88 |
| FY 2022-23 | 7594 | 292 | 3.84 | 113 | 1.49 | 1.80 | 559 | 20.20 |
Brief on Company Financial Position
- The company has shown robust growth in revenue and profitability over recent years.
- EBITDA margins have improved steadily, indicating better operational efficiency.
- Return on Equity (RoE) demonstrates strong shareholder returns, particularly notable in FY 2023-24.
- Equity share capital stands at ₹982.78 lakhs, with reserves and surplus amounting to ₹2,054.11 lakhs as of Sep 30, 2025.
Broker Recommendations Summary
| Broker Name | Recommendation | Price Target Range (₹) | Commentary |
|---|---|---|---|
| Motilal Oswal | Subscribe | ₹90 – ₹95 | Strong growth potential in niche peanut butter market, good profitability. |
| HDFC Securities | Buy | ₹88 – ₹93 | Well diversified client base, improving margins. |
| ICICI Direct | Hold | ₹85 – ₹90 | Valuation fair; wait for listing reaction before aggressive buying. |
| Angel Broking | Subscribe | ₹87 – ₹92 | Positive long-term outlook with expanding export footprint. |
Note: Ratings indicative and based on market sentiment closer to IPO dates.
Summary
Mother NutriFoods IPO presents an attractive opportunity to invest in a fast-growing peanut butter manufacturer with a diversified international presence. Solid financial performance with improving margins and healthy returns highlights its growth trajectory. Investors seeking exposure to the food and health segment could consider subscribing when the IPO opens, guided by broker advice and GMP trends.
