Nutritious Growth: An Analysis of the NFP Sampoorna Foods IPO

As we enter February 2026, the SME IPO market continues to offer interesting plays in the consumer staples and food processing sectors. Next on the radar is NFP Sampoorna Foods Limited, a New Delhi-based specialist in the premium dry fruits and nuts segment.

With the IPO set to open for subscription tomorrow, it's time to crack open the shell and see if this company has the "nutritional value" your portfolio needs.

Company Profile: A "Sampoorna" Approach to Dry Fruits

Incorporated in late 2023 (following its conversion from a long-standing partnership firm), NFP Sampoorna Foods has carved out a niche in the procurement, processing, and distribution of high-demand dry fruits.

• Product Focus: The company is heavily specialized, with cashews and cashew products contributing roughly 97% of its total revenue. It also deals in makhana (fox nuts), almonds, and walnuts.

• Integrated Sourcing: They source raw cashew nuts directly from African nations (Ghana, Ivory Coast, Benin) and domestic importers, processing them in-house to maintain quality control.

• Omnichannel Strategy: While they have a strong B2B and institutional presence, they have successfully pivoted to B2C through e-commerce giants like Amazon, Flipkart, and Blinkit, as well as their own dedicated website.

• Strategic Acquisition: In 2025, they acquired Yashvardhan Food Industries, a move that significantly boosted their processing capacity and margin visibility.

NFP Sampoorna Foods IPO: Key Figures

The issue is a 100% fresh issue, meaning the capital will be used to clear debt and fuel growth rather than providing an exit for existing promoters.

Detail	Information
IPO Dates	February 4, 2026 – February 6, 2026
Price Band	₹52 – ₹55 per share
Lot Size	2,000 Equity Shares
Min. Retail Investment	₹2,20,000 (Minimum 4,000 shares/2 lots)*
Issue Size	₹24.53 Crore
Listing Platform	NSE SME
Face Value	₹10 per share

Investor Note: For this specific SME IPO, the minimum application for retail investors is 2 lots (4,000 shares), making the entry barrier roughly ₹2,20,000.

Financial Performance: Scaling Up

The company's financials reflect a business that has effectively used its partnership-to-corporate transition to scale rapidly.

• Revenue: Skyrocketed from ₹16.75 Cr in FY23 to ₹35.64 Cr in FY25, a growth of over 112%.

• Profitability (PAT): Witnessed a sharp jump to ₹2.67 Cr in FY25 (compared to ₹0.41 Cr in FY23).

• Margins: EBITDA margins improved from 4.6% to 13.17% over the same period, indicating better cost management and higher-margin retail sales.

• Balance Sheet: The company has used internal accruals to improve its debt-to-equity ratio, which currently sits at a manageable 1.26.

Use of Proceeds: Cleaning the Slate

NFP Sampoorna Foods intends to deploy the ₹24.53 Crore raised for:

1. Debt Repayment: ₹9.50 Cr to prepay/repay existing borrowings, which will significantly reduce interest costs and boost PAT margins.

2. Working Capital: ₹7.25 Cr to support its raw material procurement cycle, especially for African cashew imports.

3. General Corporate Purposes: The remainder for operational and brand-building activities.

Grey Market Premium (GMP) & Market Sentiment

As of today, February 3, 2026, the grey market activity remains quiet.

• Current GMP: ₹0 (Flat)

• Market Outlook: A zero GMP suggests a neutral market sentiment. It indicates that the listing may happen at par or with a very marginal premium, placing the focus squarely on the company's long-term fundamental performance rather than immediate listing gains.

Investment Recommendation: The Verdict

The Bull Case:

The company is operating in a high-growth sector—packaged healthy snacks. Their move toward higher-margin retail packs and e-commerce distribution is a smart pivot. With a high Return on Equity (RoE) of ~30% and significant profit growth, the valuation at a P/E of roughly 12x-13x (post-issue) appears quite attractive compared to listed peers.

The Bear Case:

The high concentration on cashews (97%) is a double-edged sword; any disruption in African sourcing or a global price crash in cashews could severely impact their bottom line. Furthermore, the SME segment inherently carries higher liquidity risks.

Recommendation: Subscribe for Long-Term Portfolio Diversification.

If you are looking for a value-priced entry into the food processing space and can overlook the lack of a "listing pop" (indicated by the flat GMP), NFP Sampoorna Foods is a solid fundamental bet. It is best suited for investors with a 1–2 year horizon who believe in the "healthy snacking" macro-trend.

(NOTE: This Post is only for the information purpose and not to be considered as any advice for the investment in any stock. financial and investment advice should be tailored to your situation — consider consulting a licensed financial advisor before investing.)