Mother Nutri Foods Ltd IPO
FMCG
Price Band
₹111 – ₹117
Lot Size
1200
Minimum Bid Quantity
2400
Minimum Investment
₹280800
Issue Size
₹39.59Cr
Opens
2025-11-26
Closes
2025-11-28
Listing
03-12-2025
Subscription Status
Qualified Institutional Buyers
10.1 x
Non-Institutional Investor
22.76 x
Retail Individual Investor
9.36 x
Total
13.47 x
IPO Details
Issue Type
FP
Face Value
₹10
Tick Size
1
ISIN
INE0UH001016
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Mother Nutri Foods Limited is a business-to-business (B2B) peanut butter manufacturing company, producing a range of peanut-based products. The company offers 10 flavours and 12 variants of peanut butter, including chocolate, honey, coconut, cinnamon, pineapple, and strawberry, in natural, creamy, crunchy, less fat, whole nut, high protein, and no added sugar or salt ranges. It supplies peanut butter under its own brand “Spread & Eat” in markets such as Libya, Dubai, and Japan, and also provides private labelling services for domestic and international clients across countries, including the United Kingdom (UK), Canada, South Africa, and the United States (US). The company operates its sole manufacturing facility at Bhavnagar, Gujarat, where it sources peanuts locally for processing and packaging.
Pros
- • Mother Nutri Foods offers more than 10 flavours and over 5 ranges of peanut butter, including natural, creamy, crunchy, high protein, and no added sugar variants. The company claims to have established a comprehensive quality control process involving batch-wise testing and raw material checks using the Enzyme-Linked Immunosorbent Assay (ELISA) method to monitor aflatoxin and moisture levels.
- • The company’s manufacturing facility, spread over 4,047 square metres in Otha, Mahuva, Bhavnagar, Gujarat, is located close to raw peanut suppliers, reducing procurement time and transportation costs. It claims to have semi-automated, technology-enabled production processes and equipment sourced from national and international suppliers. The facility’s proximity to major ports like Pipavav and Mundra supports efficient export operations and logistics.
- • Mother Nutri Foods serves B2B clients, including supermarkets, hypermarkets, and retail chains in countries such as the UK, Canada, South Africa, the United Arab Emirates (UAE), and Mexico. The company claims to maintain long-term relationships through consistent product quality, on-time delivery, and customer engagement at trade fairs and exhibitions.
Cons
- • The top supplier accounted for Rs 8.45 crore (20.56 percent) of the company’s total cost of raw materials for the period ended September 30, 2025; Rs 27.89 crore (36.24 percent) in FY25; Rs 22.04 crore (33.73 percent) in FY24; and Rs 14.03 crore (15.38 percent) in FY23. Any disruption in supply, delay in delivery, or loss of business from this vendor can adversely impact the company’s manufacturing operations and financial performance.
- • The cost of raw materials consumed accounted for 60.51 percent, 88.43 percent, 85.85 percent, and 99.33 percent of the company’s total income for the period ended September 30, 2025, FY25, FY24, and FY23. Such high material costs make profitability sensitive to fluctuations in peanut prices, inflation, and procurement expenses. Any inability to manage these costs or pass them on to customers could hurt the company’s margins, cash flows, and overall financial condition.
- • The company reported negative cash flow from operating activities amounting to Rs 6.82 crore for the period ended September 30, 2025, Rs 3.09 crore in FY25, Rs 0.16 crore in FY24, and Rs 20.80 crore in FY23. Also, negative cash flow from investing activities amounted to Rs 0.15 crore for the period ended September 30, 2025, Rs 0.14 crore in FY25, Rs 0.04 crore in FY24, and Rs 1.43 crore in FY23. Although cash inflows from financing activities partly offset these deficits, recurring negative cash flows could affect the company’s liquidity and ability to fund growth initiatives.
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