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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

Valuation
Financials
Investment Thesis
Nijjer Agro Foods Ltd is a small, loss-making fruit and vegetable processor. Revenue ₹13.6 Cr; PAT -₹2.38 Cr. BSE listed (NAF:IN); price ₹0.05. Nijjer family promoters. Village Meharbanpur, Jandiala Guru, Amritsar, Punjab.
Pros
Cons
Business Segments
Fruit & Vegetable Processing
Manufacturing of fruit/vegetable pulps, purees, and concentrates (tomato, mango, pineapple, banana, guava, pear); contract farming; supply to global food processors.
Revenue Model
Nijjer Agro Foods Limited earns revenue by procuring raw fruits and vegetables from Punjab's agricultural belt and processing them into value-added products such as pulps, concentrates, and preserved foods. Revenue is seasonal, tied to crop harvests, and dependent on sales to food companies, exporters, and institutional buyers.
Detailed Analysis
Growth Plans
Government subsidies and PLI benefits for food processing companies
Growing export demand for processed fruits and vegetables from India
Punjab's agricultural surplus providing cost-competitive raw materials
Potential operational revival under new management or strategic investment
Industry Tailwinds
Recent Developments
The Indian government's PLI scheme for food processing and Pradhan Mantri Kisan Sampada Yojana continued to support small and medium food processing companies in Punjab and other agricultural states.
2024-01Comparable Companies
TASTYBITE · ~700 Cr
Frequently Asked Questions
About Nijjer Agro Foods
Nijjer Agro Foods Ltd is a pioneering Punjab-based agri-food processing company incorporated on October 14, 1988. With CIN L01134PB1988PLC008755, the company is registered in Punjab and has been a frontrunner in producing fruit and vegetable ingredients for global food processing. Nijjer Agro Foods was established to set up a state-of-the-art tomato paste manufacturing plant and is engaged in manufacturing aseptically packed products including tomato paste and tomato puree. Over its 36-year history, the company pioneered the concept of contract farming in India -- establishing direct farmer procurement relationships to secure consistent quality raw material supply for its processing operations. This contract farming model, now widely recognised as best practice in Indian agri-processing, was adopted by Nijjer at an early stage, giving it a structural supply chain advantage. The company has diversified its product portfolio from its original tomato processing focus to include a variety of processed fruit and vegetable ingredients. Products now include processed mangoes, pineapple, bananas, guavas, and pears in addition to its flagship tomato paste and puree range. These aseptically packed products are supplied to global food processing companies, institutional buyers, and food service operators. Nijjer Agro Foods is listed on BSE (code 519168) and operates from its plant at Village Meharbanpur, Jandiala Guru, Amritsar. The company has faced financial challenges in recent periods, with revenue of approximately INR 13.6 crore and a net loss of INR 2.38 crore, reflecting the impact of declining sales and competitive pressures. Sales growth has been negative at approximately -6.91% over the past five years, and the Altman Z-score indicates financial stress. Directors Satbir Nijjer and Balraj Singh lead the company's management. Authorised share capital is INR 15 crore with paid-up capital of INR 10.20 crore, and the company has maintained active BSE listing status.
Key Milestones
Incorporated October 14, 1988 in Punjab (CIN: L01134PB1988PLC008755) — 37+ years old
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Unlisted shares are illiquid and carry higher risk. Pricing is indicative, not live, and these are private off-market transactions with no exchange settlement guarantee. Read the full risk disclosure.
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Government subsidies and PLI benefits for food processing companies
Growing export demand for processed fruits and vegetables from India
Punjab's agricultural surplus providing cost-competitive raw materials
Potential operational revival under new management or strategic investment
Industry Headwinds
Deep financial challenges indicated by near-zero share price
Competition from large organised food processing companies
Climate change affecting Punjab crop yields
Net loss of INR 2.38 Cr with revenue of only INR 13.6 Cr indicates financial stress
Source: Company Financial Filings
Negative sales growth of -6.91% over five years signals declining market competitiveness
Source: AlphaHub Research
Altman Z-score indicates financial distress -- ranked 7 out of 8 industry peers
Source: Media Reports / Public Records
Company reported a net loss of ₹2.38 Cr — may signal structural profitability challenges
Source: Financial data
The extremely low share price of ₹0.05 is a strong indicator of possible accumulated losses or net worth erosion. Investors should conduct thorough due diligence before investing.
Fruit and vegetable processing is highly seasonal, creating uneven cash flows and working capital pressure during off-seasons.
Competes with large organised food processors such as Dabur, ITC Agri, and global players in commodity food processing.
Availability and pricing of raw agricultural produce depend on seasonal yields, monsoon patterns, and farming practices in Punjab.
Unlisted shares with a nominal price have very limited secondary market liquidity and may be difficult to exit.
VADILALIND · ~2,000 Cr
FRESHTROP · ~150 Cr
Fruit and vegetable processing: pulps, purees, concentrates; contract farming; Nijjer family promoters
BSE listed (Bloomberg: NAF:IN); revenue ₹13.6 Cr; PAT -₹2.38 Cr; authorized ₹15 Cr, paid-up ₹10.20 Cr
Plant at Village Meharbanpur, Jandiala Guru, Amritsar District, Punjab