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Anya Polytech & Fertilizers Limited manufactures high-quality High Density Polyethylene(HDPE) & Polypropylene (PP) bags and Zinc sulphate Fertilizers. Anya Polytech IPO is looking to raise Rs 44.80 crores. The issue is entirely a fresh issue of shares.

About Anya Polytech IPO

• Company was originally formed and registered in the name and style of “Anya Polytech Private Limited”, pursuant to a Certificate of Incorporation dated September 27, 2011 issued by Registrar of Companies, NCT of Delhi and Haryana.
• Name of company was changed to “Anya Polytech and Fertilizers Private Limited” vide Special Resolution passed in EGM held on October 28, 2014.
• Company is engaged in the business of manufacturing of high-quality HDPE & PP bags (made from HDPE granules) and Zinc sulphate Fertilizers in primarily two categories; i.e., (i) Mono Hydrate and (ii) Hepta Hydrate.
• They are also engaged in the manufacturing of Micronutrient Mixture.
• The company’s current manufacturing facility in Shahjahanpur, U.P
• Apart from manufacturing, they are also engaged in the trading of Single Super Phosphate (SSP), Organic Potash, Zinc EDTA (Ethylene Diamine Tetraacetate Acid), PROM (Phosphate rich organic manure), Ferus Sulphate, Magnesium Sulphate, Micronutrient Mixture, Copper Sulphate Certified Seeds and Cattle feed.
• Company is ISO 9001: 2015 certified for quality management system by Bureau of International Quality Standard Pte. Ltd. The quality certification is towards Manufacturing of HDPE & PP Woven Sacks, Fabric and Industrial Packaging and Manufacturer of Zinc Sulphate, Micronutrient mixture, ferrous Sulphate etc.
• Promoter of Company are Mr. Yashpal Singh Yadav and Anya Agro & Fertilizers Private Limited

Financials : Anya Polytech IPO

Anchors: Anya Polytech IPO

Salient Points: Anya Polytech IPO

• The India Packaging Market was valued at USD 50.5 billion in 2019, and it is expected to reach USD 204.81 billion by 2025, registering a CAGR of 26.7% during the period of 2020-2025.
• Its business vertical of Fertiliser is dependent on the performance of the agricultural sector and Government Policies.
• Use of IPO Proceeds:

• It is going for establishment of a jumbo bag unit and the introduction of advanced machinery as strategic moves aimed at boosting production capacity.
• It is setting up a Biofuel Pellet Plant of 48 TPD capacity.
• Peers: Financials

• A large chunk of its revenue comes from a single customer, KRIBHCO (55%).
• Revenue concentration in from a single customer as well the state of Uttar Pradesh where its plants are located.
• At present it is primarily servicing B2B segment.  The company is planning to serve B2C segment as it is a better margin opportunity.
• In this context it aims to establish a total of 70 retail outlets across the country.
• Margins have shown uptrend.

• PE (FY25 annualized) -9.5x ; PE FY24 17.5x
• While company filed its RHP After December 10, it has excluded H1FY25 results and disclosed only Q1FY25 results.
• I intend to apply in Anya Polytech IPO on day 3. It is going for expansion which it feels aligns with the anticipated growth in demand for both packaging solutions and fertilizer. Valuations look OK. There are some concerns on the governance front and low capacity utilization in some of its product segments. For me it may be just a listing play if allotted.
• GMP as per social media ruled about Rs. 4 (28%)
• Lead Manager Beeline has a good track record.
• This post is exploratory and educational purposes only.
• SME IPO are more risky than mainboard IPOs.
• Standard disclaimer: I am not a SEBI registered analyst and above analysis is for educational purpose only. Iam a postgraduate in engineering & Management . I have in the past cleared some exams like NISM-Series-V-A: Mutual Fund Distributors Certification, NISM-Series-X-A: Investment Adviser (Level 1) Certification and NISM-Series-X-B: Investment Adviser (Level 2) Examination. This post is my view on the subject matter and is only academic and exploratory in nature. It is not meant to influence investment decisions of investors. I may have bias/vested interest in covered Stock/Mutual Funds/NCD etc. due to my own investment or leaning. Further my understanding of the areas on which I write may be imperfect or incomplete and data could be wrong due to limited time and resources at my disposal. Do check the data from company’s RHP and exchanges before making any decision. Please do your own due diligence as stock market/MF investments have high degree of inherent risk.