NUTR3F

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What it is

Nutriplant develops and produces micronutrients and raw materials for industrial use in Brazil — specifically the trace minerals (zinc, cobalt, manganese and others) that Brazilian farmers mix into the soil and spray onto crops to lift yields.

It sells under brand names including FTE, Supreme, Comosol, TechNutri, Foskalium, Original Café, VIP, and ATR Power, and splits its sales roughly evenly between selling direct to large farms and distributing through agricultural retailers.

Its shares trade on B3 under the full-lot ticker NUTR3, and in the fractional market under NUTR3F. The Bovespa Mais listing segment is designed for companies that commit voluntarily to higher governance standards but whose shares do not yet have the liquidity of B3’s main board.

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Who owns it

Since 2004, the Pansa family has controlled the company through two holding vehicles, Tripto Participações and Trilogia Investimentos, which together hold 83.7% of the shares — Tripto alone accounts for 73.8% and Trilogia a further 9.9%.

That leaves a free float of roughly 16.3% (our calculation), spread across only about 3.2 million shares in circulation from a total of 13 million. This is an illiquid micro-cap by any measure; large buy or sell orders move the price materially.

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Who runs it

Ricardo Pansa serves simultaneously as CEO, CFO, and investor-relations director — a concentration of executive roles common in closely-held small companies but worth noting for governance-minded investors.

Ricardo studied business administration at Universidade Paulista, completed an MBA at the University of California, Berkeley, and previously spent seven years as commercial director of Quirios, the Pansa family’s chemical business, before working as a strategic consultant for DuPont.

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The money, in plain words

In 2024, Nutriplant’s revenue hit a record R$ 200.3 million (≈ US$ 38.9 million), up 11.8% from the previous year. For every real of that revenue, the company kept about 5 cents of net profit — a net margin of 5.1% (our calculation), thin by sector standards but a marked improvement after years of losses.

Net profit reached R$ 10.3 million (US$2 mn), a 193% jump versus 2023. For every real its owners have invested, the business earns roughly 14 cents a year — a return on equity of 14.1% (EODHD), which is respectable for a company still cleaning up its balance sheet.

Gross profit reached R$ 36.5 million (US$7 mn), a gross margin of 18.2% on net revenue, up 24.1% year-on-year. The company pays no dividend at this stage; cash is being directed to debt reduction rather than shareholder payouts.

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What it is doing now

The headline of 2025 is debt, finally settled: since 2017, Nutriplant had been restructuring its debts through a formal out-of-court recovery process; a previous plan was annulled in 2020, a new one was filed in 2022, and it was officially approved by the court in March 2025.

After negotiated discounts with creditors, the remaining debt now stands at around R$ 15 million (≈ US$ 2.9 million) — manageable against a business generating R$ 10 million (US$2 mn)-plus in annual profit. The company has also entered the biologicals market, adding products made from amino acids and seaweed extracts to its minerals-based line.

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What to watch

• Debt clearance in practice. The court approval of the recovery plan is a legal milestone, but execution of the R$ 15 million (US$3 mn) payment schedule will determine whether the balance sheet truly normalises.
• Margin trajectory. A 5.1% net margin on an 18.2% gross margin means overhead and finance costs consume a lot; watch whether the cost-control programme Ricardo Pansa has described converts into a structurally higher net margin.
• Liquidity risk. With only ~3.2 million shares in free float and a market value of under US$ 9 million, this stock can move sharply on thin volume — a feature, not a bug, for any investor sizing a position.
• Biological products. The company now offers inoculants such as azospirillum and bradyrhizobium, as well as biodefensives to protect crops from pests and diseases — a fast-growing segment where margins are structurally higher than commodity fertilisers.

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This is news, not investment advice.