BSE: 531889
NURTURE WELL INDUSTRIES LIMITE
Operates as a holding company whose subsidiary, Nurture Well Foods Limited, manufactures and trades biscuits and baked goods from a facility at Neemrana with stated capacity of 3,400 MT per month. The product range spans mass and premium biscuits, donuts, rusk and khari biscuits, plus a fresh bakery line of bread, puff and kulcha, sold under brands RICHLITE, FUNTREAT and CRUNCHY KRAZE. Distribution in India runs through 150+ partners concentrated in North India, while exports go to 9+ countries across Africa and the Middle East, with the current geographic mix described as roughly 80% overseas and 20% domestic and a stated target to reach 50:50 by FY29. FY26 consolidated revenue was ₹1,026.38 crore with EBITDA of ₹89.81 crore (margin 8.75%) and net profit of ₹99.73 crore; the most recent reported quarter, Q3 FY26, posted ₹289.77 crore of revenue at an 11.45% EBITDA margin. The bulk of revenue comes from trading of food products, with manufacturing at the Neemrana plant being a smaller line, and the bulk of overseas revenue is attributed to Dubai/Middle East. A new ₹400 crore premium-bakery plant in Uttar Pradesh is being set up for commercial production in FY28-29, alongside additional lines planned at the Neemrana site. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Trading of food products, Manufacturing of food products. Biscuit and bakery manufacturing and trading, operated through a holding-company structure with one operating subsidiary.
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 331 | 766 | 1,026 |
| EBITDA (ex other income) | 29 | 69 | 90 |
| margin % | 8.9 | 9.0 | 8.8 |
| Owners' profit | 0 | 56 | 67 |
| EPS, as reported (₹) | 36.40 | 2.64 | 3.40 |
| ROE % · ROCE % | 16.6 · 18.0 | 21.9 · 22.6 | 19.5 · 19.7 |
| Debt / equity (x) | 0.00 | 0.00 | 0.08 |
| Cash from operations | (41) | 48 | (22) |
| Capex | (76) | (3) | (30) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 140 | 187 | 199 | 240 | 250 | 287 | 290 | 200 |
| Profit before tax | 14 | 15 | 17 | 23 | 26 | 31 | 32 | (1) |
| Net profit | 13 | 14 | 17 | 23 | 25 | 30 | 31 | (1) |
| EPS (₹) | 7.24 | 0.72 | 1.22 | 0.79 | 0.84 | 1.13 | 1.19 | 0.25 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| India | 100 | 9.7 |
| Overseas | 424 | 41.3 |
| Dubai | 252 | 24.6 |
| Manufacturing of Food Products | 31 | 3.0 |
| Trading of Goods | 219 | 21.4 |
| Total, before eliminations | 1,025 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ FINSERV LTD. | 2,64,611 | 26.0 | 1.88 | — | 14.0 | — | 20.0 | 40.8 |
| BAJAJ HOLDINGS & INVS LTD | 1,16,414 | 13.1 | 1.41 | — | 11.9 | — | 21.8 | 92.9 |
| CHOICE INTERNATIONAL LTD | 16,267 | 62.9 | 8.92 | 39.9 | 13.0 | 13.9 | 46.0 | 36.8 |
| EDELWEISS FIN SERV LTD | 11,971 | 16.8 | 2.01 | — | 11.4 | — | 2.2 | 29.3 |
| JM FINANCIAL LIMITED | 10,849 | 10.4 | 0.96 | — | 10.6 | — | 5.1 | 60.3 |
| RANE HOLDINGS LIMITED | 2,078 | 24.6 | 1.46 | 6.0 | 9.6 | 11.7 | 23.7 | 7.5 |
| BF INVESTMENT LIMITED | 1,486 | 3.8 | 0.17 | — | 3.3 | — | 36.0 | 90.4 |
| BALMER LAWRIE INVSTS. L | 1,384 | 10.7 | 0.62 | — | 12.4 | — | 12.2 | 18.2 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 5.5 | 10.7 | 3 of 13 | 83% |
| P/B | 1.0 | 1.4 | 6 of 14 | 62% |
| ROCE | 19.5 | 11.2 | 2 of 8 | 86% |
| ROE | 19.5 | 10.1 | 1 of 14 | 100% |
| Debt / Equity | 0.1 | 0.5 | 3 of 7 | 67% |
| EBITDA margin | 0.1 | 29.6 | 13 of 14 | 8% |
| Revenue growth | (16.8) | 18.6 | 15 of 15 | 0% |
| Profit growth | (105.2) | 18.1 | 14 of 15 | 7% |
| Market cap | 437 | 1203 | 12 of 16 | 27% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 8 Oct 2026 · Compliance certificate for Q2 FY26 dematerialization filed with BSE | compliance | minimal | — | — |
| 1 Oct 2026 · All 4 AGM resolutions pass; related party and fund use change approved | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Nurture Well Industries 40th AGM held via VC; 4 resolutions tabled | board shareholder meetings | medium | — | — |
| 23 Sept 2026 · Trading window closed from Oct 1 2026 until Q2 results are declared | compliance | minimal | — | — |
| 7 Sept 2026 · Newspaper clippings of 40th AGM notice filed with BSE | compliance | minimal | — | — |
| 3 Sept 2026 · Annual Report FY26 and 40th AGM notice filed with BSE | board shareholder meetings | medium | — | — |
| 3 Sept 2026 · AGM notice: related party deals up to Rs 300 crore, fund use change | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Newspaper publication for 40th AGM on September 30, 2026 | compliance | minimal | — | — |
| 13 Aug 2026 · Q1 FY27 results published in Business Standard newspapers | compliance | minimal | — | — |
| 5 Aug 2026 · Board meeting on Aug 12, 2026 to approve Q1 FY27 results | results | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.