NFP Sampoorna Foods SME IPO Review | APPLY or AVOID?
NFP Sampoorna Foods started in 2019. It operates in the food processing industry and provides processed dry fruits to its customers across the domestic market. This business is based in New Delhi. This IPO review covers the main facts of the offer. It helps you decide if the issue fits your portfolio.
NFP Sampoorna Foods shows Rapid growth, but the aggressive issue pricing remains a key point to consider for investors. The issue appears aggressively priced based on recent super earnings.
| IPO Details | |
|---|---|
| Issue Type | Book Building |
| IPO Category | SME |
| Face Value | ₹10 Per Share |
| Fresh Issue | ₹35.33 Cr. |
| Offer for Sale | ₹- Cr. |
| Refunds Initiation | May 22, 2026 |
| Credit of Shares | May 22, 2026 |
| Listing At | NSE SME |
| Reservation & Lot Size | |
|---|---|
| Retail (Min) Small Investor Quota | 2 Lot | 4,000 Shares ₹2,20,00 |
| Retail (Max) Retail Investment Limit | 2 Lot | 4,000 Shares ₹2,20,000 |
| S-HNI (Min) Small HNI (₹2L – ₹10L) | 3 Lot | 6,000 Shares ₹3,30,000 |
| S-HNI (Max) Small HNI (Up to ₹10 L) | 9 Lot | 18,000 Shares ₹9,90,000 |
| B-HNI (Min) Big HNI (Above ₹10L) | 10 Lot | 20,000 Shares ₹11,00,000 |
| Market Maker Designated Broker | 2,24,000 Shares Reserved portion |
✅ Strengths
⚠️ Challenges
Financial Update
The company released its restated financial statements for the year ending March 31, 2025. Total revenue was ₹35.76 crore, increased from ₹23.31 Cr (FY24 two broken periods combined) in the previous year. The net profit for the same period was ₹2.67 crore, increased from ₹1.02 Cr (FY24 two broken periods combined) in the previous year. Assets increased by 62.43% compared to the previous year (₹16.68 Cr. in FY24 to ₹27.03 Cr. in FY25). The company has shown good growth in its sales and profits in the reported periods. However, the increase in borrowings is a point to note. The company relates this to the acquisition of its associate unit. This move helped their profits from normal business activities. This trend should be carefully studied prior to any investment.
IPO Valuation
The upper price band is ₹55. This price leads to a Price-to-Earnings (P/E) ratio of 13.28 based on FY26 annualised earnings. The average P/E for the industry is 17.19. Based on FY25 earnings, the P/E stands at 25.94. This valuation appears aggressive when looking at the FY25 earnings. However, the strong performance in the 8 months of FY26 justifies the price based on annualised figures.
IPO Objective
The company will use the proceeds of the offer to meet stated objectives:
- Prepayment or repayment of a portion of certain outstanding borrowings: ₹9.50 crores.
- Funding of working capital requirements of the Company: ₹7.25 crores.
- General Corporate Purposes: The remaining amount will be used for general corporate needs.
Promoters & Lead Manager
- Promoters: Praveen Goel, Anju Goel, and Yash Vardhan Goel are the promoters. Their average cost of acquisition is between ₹10.00 and ₹11.79 per share. They are highly experienced in the dry fruit processing industry.
- Lead Manager: 3Dimension Capital Services Ltd. is the sole lead manager. This is their 5th mandate in the last two fiscals. Their past IPO performance has been mixed, with two listings at a discount.
Peer Comparison
Below is the comparison of the company with its listed peers using data from March 31, 2025. The company has cited Krishival Food and Prospect Consumer as peers. These companies may not be truly comparable on all metrics. Investors should view this comparison with caution. The high RoNW of NFP Sampoorna Foods suggests strong profitability compared to its peers.
| Company Name | EPS (Basic) | NAV (₹ per share) | P/E (x) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|---|
| NFP Sampoorna Foods Ltd | 4.31 | 14.54 | 29.65 | ||
| Krishival Foods Limited | 6.07 | 60.74 | 37.89 | 9.99 | 3.83 |
| Prospect Commodities Ltd | 4.19 | 42.54 | 17.21 | 9.46 | 1.71 |
Financial data sourced from annual reports and stock exchange data, using restated financial statements for 2024-25. NAV per share (closing net worth divided by weighted average number of paid-up equity shares) and RoNW (net profit after tax divided by closing net worth).
IPO Review & Analyst Rating
NFP Sampoorna Foods is a company engaged in the processing and trading of various dry fruits. The company has shown consistent growth in its financial performance over the reported periods. It benefits from an experienced management team, a good sourcing network, and diversification into new products like makhana and almonds. The issue is priced aggressively based on its recent super-earnings. Cash surplus investors who have knowledge of the SME segment may consider applying for the long term.
| Analyst Name | Recommendation |
|---|---|
| Univest | Apply |
| StockGro | High Risk |
Disclaimer: The information on the site is informational only. The contents of this blog are not financial advice. You should not invest in any stock market instrument without consulting your Financial advisor.
No comments yet. Be the first to share your thoughts!