Mother Nutri FoodsShare price, financial results, shareholding and management
- Market cap
- ₹200 cr
- Stock P/E
- 17.2peers 13.9
- Book value
- ₹52.7
- Price to book
- 3.02
- EV / operating profit
- -
- Market cap to sales
- 1.62
- ROCE · FY26
- 21.1%
- ROE · FY26
- 25.6%
- ROE, 3-year average
- 44.1%
- Operating margin · FY26
- 12.8%peers 7.5%
- Sales growth, 3 years
- 17.5%
- Profit growth, 3 years
- 126.6%
- Debt to equity
- 0.64peers 0.45
- Borrowings
- ₹42 cr
- Interest cover
- 7.3×
- Cash from business / op. profit
- -284%
- Debtor days
- 108
- Pledged
- 0.00%
- Promoter holding
- 65.93%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 149
- 52-week high / low
- ₹186 / ₹118
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Mother Nutri Foods share price chart
Close on 6 Nov 2026 · +4.63% on the day · Vol 4,800
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +6.2%
- 3 months
- +0.2%
- 6 months
- -3.4%
- Traded a day, 20 days
- ₹0.28 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +37% | +66% |
| 3 years, a year | +18% | +127% |
| Latest half, H2 FY26 | +49% | +531% |
About Mother Nutri Foods: business, products and customers
Mother Nutri Foods makes peanut butter and roasted peanuts at Mahuva in Gujarat, mostly packed under the brands of supermarkets, retail chains and food companies in India and abroad. Its shares trade on BSE SME.
Mother Nutri Foods sources raw peanuts in Gujarat, cleans, roasts and grinds them at one plant at Otha near Mahuva, and fills peanut butter into sachets, jars and bulk packs of up to 250 kilograms. Almost all of it is private label: hypermarkets, supermarkets, retail chains and brands in India and in about twenty countries put it on shelves under their own names, while a small part goes out under the company's own brand, Spread & Eat, in Libya, Dubai and Japan. The business was run as a partnership firm, Mother Nutri Foods, before the company took it over in 2022.
The business model shapes the numbers. Peanuts are by far the largest cost and are bought on purchase orders, and customers also order on purchase orders with no long-term contracts, so revenue moves with peanut prices and with how many orders come in. Roasted peanuts, a simpler product, grew from almost nothing to a large share of sales in two years, which changes the mix. Because the company stocks peanuts, packing material and finished jars and waits for customers to pay, a lot of cash is tied up in stock and receivables, funded by bank credit lines.
Read more about the business
The offer document says no listed company in India does the same business at a comparable size, and that its competition comes mainly from unorganised peanut butter makers, with no entry barriers in the industry. The annual report adds that global brands and new Indian health-food brands make up the wider market.
What is new: the company listed in December 2025 and is building a second plant on leased land next to the first, which would nearly double its peanut butter capacity. Most of the issue money was still unspent at March 2026.
From the offer document (red herring prospectus, November 2025) and the annual report for FY26.
Read the deeper study ↓In its favour
- It earns a high return on the money it uses: ROCE 21% in FY26.
- The promoters own a large part of the company: 65.93%.
To watch
- Building of the new 7,200 tonne plant next to the existing one, with issue money planned for FY26 and FY27 (Offer document, p.88 and p.89).
- Use of the ₹24.6 cr of issue money still unspent at March 2026 (Annual report FY26, p.34).
- Export sales after the fall in FY26 and the swing in sales to single countries (Annual report FY26, p.115).
- The income tax demand of ₹1.3 cr for assessment year 2023 that the company is appealing (Annual report FY26, p.115).
- Customers take longer to pay than before: 108 days in FY26, against 52 in FY23.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Mother Nutri Foods revenue and profit growth
Half-yearly results · Profit and lossSales have grown steadily. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew faster than sales.
Mother Nutri Foods half-yearly results
SME companies report every six months · ₹ crore
| H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|
| Sales | 49 | 50 | 73.03 |
| Expenses | 45 | 43 | 64.62 |
| Operating profit | 4 | 7 | 8.41 |
| OPM | 8.0% | 15.0% | 11.5% |
| Interest | 1 | 1 | 1.31 |
| Depreciation | 1 | 0 | 0.25 |
| Profit before tax | 3 | 7 | 7.67 |
| Net profit | 1 | 5 | 6.31 |
Mother Nutri Foods profit and loss
Full years to March, FY23 to FY26 · ₹ crore, consolidated where reported
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Sales | 76 | 79 | 90 | 123.28 |
| Expenses | 73 | 71 | 80 | 107.44 |
| Operating profit | 3 | 9 | 10 | 15.83 |
| OPM | 3.9% | 11.0% | 11.0% | 12.8% |
| Other income | 0 | 0 | 0 | 1.10 |
| Interest | 1 | 2 | 2 | 2.26 |
| Depreciation | 1 | 1 | 1 | 0.49 |
| Exceptional and other items | · | · | 1 | · |
| Profit before tax | 1 | 6 | 8 | 14.18 |
| Tax rate | 0.0% | 16.7% | 12.5% | 17.9% |
| Net profit | 1 | 5 | 7 | 11.64 |
| EPS ₹ | 2.69 | 10.73 | 13.53 | 11.09 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY25 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
Mother Nutri Foods profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Operating margin | 3.9% | 11.0% | 11.0% | 12.8% |
| Tax rate | 0.0% | 16.7% | 12.5% | 17.9% |
| ROCE | · | 25.4% | 24.1% | 21.1% |
| ROE | · | 66.7% | 40.0% | 25.6% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
Mother Nutri Foods debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It borrowed much more last year. Its loans are smaller than its own money. Last year the business used more cash than it brought in. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Mother Nutri Foods balance sheet
At each 31 March · ₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Equity capital | 4 | 4 | 5 | 13 |
| Reserves | 1 | 6 | 20 | 53 |
| Net worth | 5 | 10 | 25 | 66 |
| Borrowings | 23 | 25 | 23 | 42 |
| Other liabilities | 16 | 13 | 23 | 11 |
| Total liabilities | 44 | 48 | 71 | 119 |
| Fixed assets | 5 | 4 | 4 | 4 |
| Capital work in progress | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 |
| Other assets | 39 | 44 | 67 | 115 |
Mother Nutri Foods cash flow
₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Cash from operations | 1 | 0 | -3 | -45 |
| Cash from investing | 0 | 0 | 0 | 0 |
| Cash from financing | -1 | 0 | 3 | 46 |
| Net cash flow | 0 | 0 | 0 | 1 |
Working capital
Days
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Debtor days | 52 | 71 | 124 | 108 |
| Inventory days | 143 | 186 | 185 | 175 |
| Days payable | 75 | 68 | 122 | 34 |
| Cash conversion cycle | 119 | 189 | 188 | 249 |
| Working capital days | 9 | 31 | 85 | 113 |
Mother Nutri Foods peers and competitors
Listed SME companies in the same industryBy sales, Mother Nutri Foods is number 27 of the 43 listed SME companies in food products.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Sonalis Consumer Products | 17 | 1.8 | 150 | 9 | 7.0% | 0.09 |
| Shyam Dhani Industries | 109 | 12.8 | 146 | 8.5 | 11.3% | 0.52 |
| Shri Ahimsa Naturals | 961 | 33.0 | 123 | 29.1 | 29.1% | 0.11 |
| Mother Nutri Foods | 200 | 17.2 | 123 | 11.6 | 12.8% | 0.64 |
| SSMD Agrotech India | 53 | 8.8 | 115 | 6 | 7.0% | 0.03 |
| Shivashrit Foods | 212 | 15.1 | 114 | 14.1 | 21.2% | 0.46 |
| Abram Food | 19 | 9.5 | 112 | 2 | 3.7% | 0.61 |
| Magson Retail And Distribution | 274 | 322.5 | 109 | 0.9 | 2.4% | 0.11 |
| Tanvi Foods (India) | 83 | 41.4 | 103 | 2 | 5.0% | 0.44 |
| Italian Edibles | 40 | 9.9 | 99.5 | 4 | 8.1% | 0.79 |
| Dindigul Farm Product | 78 | 20.9 | 90 | 3.7 | 8.6% | 0.47 |
| Median of the 10 others | 81 | 14 | 113 | 5 | 7.5% | 0.45 |
Mother Nutri Foods shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders has come down.
Mother Nutri Foods shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Dec 25 | Mar 26 | |
|---|---|---|
| Promoters | 65.93% | 65.93% |
| Foreign investors (FIIs) | 11.99% | - |
| Indian institutions (DIIs) | 0.54% | - |
| Number of shareholders | 659 | 149 |
Mother Nutri Foods study: the business from its own documents
Read from 5 of the company's own documentsMother Nutri Foods key facts from the filings
Each figure with the document it comes from
- Revenue
- ₹123.3 cr
- Revenue from operations in FY26, up from ₹90.2 cr in FY25; profit after tax was ₹11.6 cr against ₹6.6 cr.Annual report FY26, p.25
- Private label
- 96.99%
- Share of revenue in the half to September 2025 made under customers' own brands; Spread & Eat gave 3.01%.Offer document, p.112 and p.113
- Roasted peanuts
- 39.55%
- Share of revenue in the half to September 2025, up from 0.07% in FY23; peanut butter gave 60.13%.Offer document, p.117
- Exports
- ₹27.0 cr
- Export sales in FY26, down from ₹31.4 cr in FY25; country sales swing a lot, the United Kingdom alone gave ₹24.1 cr in FY25.Annual report FY26, p.115; offer document, p.117
- Top ten customers
- 90.22%
- Share of revenue in the half to September 2025; the largest customer gave 25.66%. Names are not disclosed.Offer document, p.120
Show 5 more facts
- Plant use
- 94.83%
- Use of the peanut butter plant in the half to September 2025, against 71.07% in FY25, on a capacity of 8,000 tonnes a year.Offer document, p.121
- New plant
- 7,200 tonnes
- Extra peanut butter capacity a year planned next to the existing plant at a cost of ₹23.2 cr from issue money, taking capacity to 15,200 tonnes.Offer document, p.88 and p.89
- Issue money unspent
- ₹24.6 cr
- Of ₹31.7 cr raised in the December 2025 issue, left unspent at March 2026; the company reports no deviation from the stated uses.Annual report FY26, p.34
- Short-term borrowings
- ₹41.5 cr
- Bank credit at March 2026, up from ₹22.6 cr; ₹20.8 cr of it is State Bank of India overdrafts secured on the company's term deposits.Annual report FY26, p.95, p.106 and p.107
- Inventory
- ₹44.1 cr
- Stock at March 2026, of which finished goods were ₹29.5 cr, up from ₹31.8 cr of stock a year earlier.Annual report FY26, p.110
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company gives no guidance on sales or profit and has no order book; it works on purchase orders. Its dated plan, set out in the offer document, is a second plant next to the existing one adding 7,200 tonnes of peanut butter capacity a year, paid for from issue money, with ₹7.4 cr planned for FY26 and ₹15.8 cr for FY27. At March 2026 ₹7.0 cr of the issue money had been used. The company says it also wants to grow exports in Europe, Canada and the Gulf and to build its own brand, Spread & Eat.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
The company earns a margin on turning Gujarat peanuts into peanut butter and roasted peanuts that other companies put out under their own names.
Its weak spots are a few large customers, no long-term contracts, and a lot of cash tied up in stock and money owed by customers.
WatchCan it set its own prices?Little room: both peanuts and customer orders are on purchase orders, and the customer owns the brand.
WatchHow strong is it against rivals?Food safety approvals and a location in the peanut belt help, but the company itself says anyone can enter the business.
WatchWho are its customers?Supermarkets, retail chains and brands in India and abroad, but a handful of them give almost all the sales.
WatchDoes it need a lot of money?Yes: stock and money owed by customers grew faster than profit, and bank credit rose to fund them.
AverageCan it keep finding new work?The plant is nearly full and new countries such as Japan and Mexico were added, but exports fell in FY26 and there is no order book.
AverageDo good and bad years swing a lot?Profit has risen each year so far, but sales to single countries and states jump around from year to year.
Who runs Mother Nutri Foods?
Promoters, directors and officers; tap a name for the background
CRChintan Rajnikant ThakarPromoter, Chairman and Managing Director · holds 2.21%
Post-graduate diploma in management (finance) from Chanakya Institute of Management Studies and Research, with about 5 years in food processing; a partner in the firm Mother Nutri Foods from 2020 and a director since January 2022, responsible for business development and strategy. The company records Rajnikant Indubhai Thakar as the father of Chintan Rajnikant Thakar.
Offer document, p.139 and p.140; annual report FY26, p.53UKUmeshbhai Kantilal ShethPromoter and Whole-Time Director · holds 27.62%
Studied to the eighth grade at Shree J.P. Parekh High School, Mahuva, with about 10 years in food processing; a partner in the firm from 2015 and a director since January 2022, overseeing day to day affairs, accounts and finance.
Offer document, p.139 and p.140RIRajnikant Indubhai ThakarPromoter and Executive Director · holds 29.18%
Studied to the seventh grade at Sheth Manjibhai Nathoobhai High School, Mahuva, with about 10 years in food processing; a partner in the firm from 2015 handling marketing, and now responsible for the overall operations. The land for the new plant is leased from Rajnikant Indubhai Thakar.
Offer document, p.140 and p.89PUParth Umeshkumar ShethPromoter and Marketing Manager · holds 5.90%
Bachelor of Business Administration from Sarvepalli Radhakrishnan University, Bhopal, with about 5 years in food processing; a partner in the firm from 2020 handling marketing, and responsible for marketing at the company.
Offer document, p.150, p.151 and p.154VUVandnaben U ShethPromoter · holds 0.40%
Named among the promoters; a director of P2B Foods Private Limited and P2B Factory LLP.
Offer document, p.153NRNaynaben Ranjikant ThakarPromoter · holds 0.40%
Named among the promoters; a director of P2B Foods Private Limited and Indispice Dehydration Private Limited.
Offer document, p.154KKKetan Kiritbhai MehtaNon-Executive Director
Studied to the eighth grade at Shree J.P. Parekh High School, Mahuva; appointed an independent director in June 2024 and re-designated non-executive director in August 2025.
Offer document, p.140; annual report FY26, p.32TMTanvi Mafatlal PatelIndependent Director
Company secretary with a master's degree in commerce from Gujarat University and over 3 years of experience; company secretary of Arunaya Organics Limited.
Offer document, p.140AGAnup Gopaldas PatelChief Financial Officer
MBA from Saurashtra University with over 13 years of experience; earlier a senior manager at HDFC Bank, with the company since December 2024.
Offer document, p.150KYKhushboo YadavCompany Secretary and Compliance Officer
Appointed from June 11, 2026 after Richa Kachhawaha resigned.
Annual report FY26, p.32Mother Nutri Foods latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹73 cr (+49%), net profit ₹6.3 cr (+531%) on H2 FY25.
- Shareholding, 31 March 2026: promoters unchanged at 65.93%.
Mother Nutri Foods announcements
3 on record, latest first; each opens the filing on the exchange
Mother Nutri Foods annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
Mother Nutri Foods share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Mother Nutri Foods' data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- iThe shares traded on only 110 days in the past year, so the price, its range and the returns here rest on few trades.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,25,35,020 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY23 to FY26.
- iPrices run to the close on 9 Oct 2026, from the exchange's daily figures.
Questions people ask about Mother Nutri Foods
What does Mother Nutri Foods do?
Mother Nutri Foods makes peanut butter and roasted peanuts at Mahuva in Gujarat, mostly packed under the brands of supermarkets, retail chains and food companies in India and abroad. Its shares trade on BSE SME.
What is the share price of Mother Nutri Foods?
₹159 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Mother Nutri Foods?
₹200 cr at the close on 6 Nov 2026, on 1,25,35,020 shares.
What is the P/E of Mother Nutri Foods?
17.2 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Mother Nutri Foods' revenue and profit?
Revenue ₹123 cr and profit after tax ₹12 cr in FY26.
Who are the promoters of Mother Nutri Foods?
Chintan Rajnikant Thakar, Umeshbhai Kantilal Sheth, Rajnikant Indubhai Thakar, Parth Umeshkumar Sheth, Vandnaben U Sheth, Naynaben Ranjikant Thakar; promoters held 65.93% at 31 March 2026.
What is Mother Nutri Foods' website?
www.mothernutrifoods.com
More SME companies like Mother Nutri Foods
Other listed SME companies in food products, the closest in size first, each read from its own documents.
- Chatha FoodsCHATHA · BSE SME · Food ProductsMarket cap ₹212 cr
- Shivashrit FoodsSHIVASHRIT · NSE Emerge · Food Products · listed 2025Market cap ₹215 cr
- Elfin Agro IndiaELFIN · BSE SME · Food ProductsMarket cap ₹175 cr
- Adon Agro CommoditiesADON · BSE SME · Food ProductsMarket cap ₹230 cr
- Goyal SaltGOYALSALT · NSE Emerge · Food Products · listed 2023Market cap ₹166 cr
- Srivari Spices And FoodsSSFL · NSE Emerge · Food Products · listed 2023Market cap ₹243 cr
Built from 2 annual reports, 2 credit rating notes, 1 offer document, 3 exchange announcements, 2 shareholding patterns and 4 years of reported results. Every figure carries its source; where the documents are silent, the page says so.