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Anya Polytech & Fertilizers Introduction
Explore the Anya Polytech IPO details, including key dates, issue size, and investment opportunities. Discover how this innovative company is poised for growth in the polymer industry.
Brief About Anya Polytech & Fertilizers
History of Anya Polytech & Fertilizers
Anya Polytech & Fertilizers Limited was originally incorporated as Anya Polytech Private Limited on September 27, 2011, under the Companies Act, 1956. The company changed its name to Anya Polytech and Fertilizers Private Limited in 2014 and later converted to a public limited company on August 16, 2023, adopting its current name. Engaged in the manufacturing of high-quality HDPE and PP bags, as well as Zinc Sulphate Fertilizers, the company also trades various agricultural products. Anya Polytech is ISO 9001:2015 certified, ensuring quality management in its operations. Currently, the company is preparing for its Initial Public Offering (IPO) to raise funds for expansion and working capital, with plans to list on the EMERGE Platform of the National Stock Exchange of India Limited.
Summary of the business of Anya Polytech & Fertilizers
Anya Polytech & Fertilizers Limited is a key player in the packaging and fertilizer industries in India, specializing in the manufacturing of high-quality HDPE (High-Density Polyethylene) and PP (Polypropylene) bags. The company also produces Zinc Sulphate Fertilizers in Mono Hydrate and Hepta Hydrate forms, along with various micronutrient mixtures and agricultural products like Single Super Phosphate (SSP) and Organic Potash. With an ISO 9001:2015 certification, Anya Polytech emphasizes quality management in its operations. The company is focused on innovation and sustainability, aiming to enhance agricultural productivity and provide effective packaging solutions.
Business Verticals
- Engaged in the manufacturing of high-quality HDPE (High-Density Polyethylene) and PP (Polypropylene) bags, as well as Zinc Sulphate Fertilizers, including Mono Hydrate and Hepta Hydrate variants.
- Single Super Phosphate (SSP), Organic Potash, and Micronutrient Mixtures.
Machinery/Plants/Factory
- Manufacturing Facility:
- Location: Shahjahanpur, Uttar Pradesh, India
- Description: This facility is primarily responsible for the production of HDPE and PP bags, as well as Zinc Sulphate Fertilizers.
Capacity Utilisation of Anya Polytech & Fertilizers
| Product | Installed Capacity (Units/Year) | Current Production (Units/Year) | Capacity Utilization (%) | Comments |
|---|---|---|---|---|
| HDPE & PP Bags | 15,000,000 bags | 12,000,000 bags | 80% | High demand; operating efficiently. |
| Zinc Sulphate Fertilizers (Mono Hydrate) | 34,000 MT | 25,000 MT | 73.53% | Adequate production; potential for growth. |
| Zinc Sulphate Fertilizers (Hepta Hydrate) | 20,000 MT | 15,000 MT | 75% | Steady production; room for improvement. |
| Micronutrient Mixture | 10,000 MT | 8,000 MT | 80% | Consistent demand; operating at full capacity. |
Customer concentration of Anya Polytech & Fertilizers
(in %)
| Particulars | June 30, 2024 | March 31, 2024 | March 31, 2023 | March 31, 2022 |
| Top 1 Customers (%) | 55.39% | 51.82% | 53.42% | 42.14% |
| Top 3 Customers (%) | 76.61% | 80.72% | 80.65% | 85.68% |
| Top 5 Customers (%) | 85.23% | 88.32% | 84.33% | 93.59% |
| Top 10 Customers (%) | 90.75% | 90.85% | 87.15% | 97.20% |
Supplier concentration of Anya Polytech & Fertilizers
(in %)
| Particulars | June 30, 2024 | March 31, 2024 | March 31, 2023 | March 31, 2022 |
| Top 1 Suppliers (%) | 22.52% | 11.39% | 13.37% | 37.58% |
| Top 3 Suppliers (%) | 50.81% | 29.27% | 32.57% | 55.45% |
| Top 5 Suppliers (%) | 59.64% | 42.58% | 44.53% | 64.88% |
| Top 10 Suppliers (%) | 74.51% | 65.18% | 65.69% | 79.26% |
Revenue breakup of Anya Polytech & Fertilizers
Product wise break-up
(in ₹ Lakhs except Ratios and %)
| Particulars | June 30, 2024 | March 31, 2024 | March 31, 2023 | March 31, 2022 | ||||
| Revenue | % of Revenue | Revenue | % of Revenue | Revenue | % of Revenue | Revenue | % of Revenue | |
| HDPE/PP Bags | 1159.92 | 28.71% | 5615.12 | 45.50% | 4344.82 | 37.60% | 5449.92 | 59.34% |
| Fertilizers | ||||||||
| Zinc | 1889.16 | 46.77% | 5292.85 | 42.89% | 5563.52 | 48.15% | 3734.41 | 40.66% |
| SSP | 468.92 | 11.61% | 1125.75 | 9.12% | 1646.92 | 14.25% | ||
| Sale through Outlet | 521.47 | 12.91% | 308.05 | 2.50% | ||||
Revenue contribution from Geography presence
(in ₹ Lakhs except Ratios and %)
| Particulars | 31st March, 2024 | 31st March, 2023 | 31st March, 2022 | |||
| Amount | % of Revenue | Amount | % of Revenue | Amount | % of Revenue | |
| Punjab | 468.68 | 3.80% | 1391.58 | 12.04% | 276.49 | 3.01% |
| Haryana | 608.04 | 4.93% | 1002.35 | 8.67% | 368.81 | 4.02% |
| Rajasthan | 742.23 | 6.01% | 307.8 | 2.66% | 116.28 | 1.27% |
| Uttar Pradesh | 7630.64 | 61.83% | 5407.75 | 46.80% | 6,329.38 | 68.91% |
| Maharashtra | 743.19 | 6.02% | 534.85 | 4.63% | 252.5 | 2.75% |
| Gujrat | 854.88 | 6.93% | 1345.49 | 11.64% | 780.89 | 8.50% |
| Others | 1294.11 | 10.50% | 1565.44 | 13.56% | 1,059.99 | 11.54% |
Subsidiary companies of Anya Polytech & Fertilizers
- Arawali Phosphate Limited
- Business Focus: Engaged in the production of fertilizers, specifically Single Super Phosphate (SSP).
- Role: Contributes to the overall fertilizer production capacity of Anya Polytech & Fertilizers Limited.
- Yara Green Energy Private Limited
- Business Focus: Focused on sustainable energy initiatives, including the production of biofuels.
- Role: Aims to diversify the company’s portfolio into renewable energy, enhancing its sustainability efforts.
Industry Outlook
Packaging Industry Analysis
- Market Size and Growth:
- The Indian packaging market is projected to grow from USD 50.5 billion in 2019 to USD 204.81 billion by 2025, with a CAGR of 26.7%.
- The sector is currently the 5th largest in India’s economy, driven by increasing demand across various industries, including food and beverage, pharmaceuticals, and consumer goods.
- Key Trends:
- Sustainability: There is a growing demand for eco-friendly packaging solutions, leading to innovations in biodegradable and recyclable materials.
- E-commerce Growth: The rise of online shopping is increasing the need for effective packaging solutions that ensure product safety during transit.
- Technological Advancements: Automation and smart packaging technologies are enhancing efficiency and reducing costs in the packaging process.
- Challenges:
- Regulatory Compliance: Companies must adhere to stringent regulations regarding environmental impact and product safety.
- Raw Material Prices: Fluctuations in the prices of raw materials can affect profitability.
Fertilizer Industry Analysis
- Market Size and Growth:
- India is one of the largest consumers of fertilizers globally, with a significant contribution to agricultural productivity.
- The fertilizer market is expected to grow due to increasing agricultural production needs and government initiatives to support farmers.
- Key Segments:
- Nitrogenous Fertilizers: Urea remains the most widely used nitrogenous fertilizer in India.
- Phosphatic Fertilizers: Includes Single Super Phosphate (SSP) and Di-Ammonium Phosphate (DAP).
- Potassic Fertilizers: Used to enhance crop yield and quality.
- Government Policies:
- The Indian government provides subsidies on fertilizers to ensure affordability for farmers, which has led to increased consumption.
- Initiatives like the Soil Health Card Scheme promote balanced fertilizer use and improve soil health.
- Trends:
- Sustainable Agriculture: There is a growing focus on organic fertilizers and micronutrient mixtures to enhance soil fertility and crop yield.
- Technological Innovations: Advancements in fertilizer production processes and the introduction of bio-fertilizers are gaining traction.
Competitive Landscape
- The packaging and fertilizer industries are characterized by intense competition from both domestic and international players.
- Companies must continuously innovate and adapt to changing market demands to maintain their competitive edge.
Management and Share Holding pattern of Anya Polytech & Fertilizers
Promoters of Anya Polytech & Fertilizers Limited
- Mr. Yashpal Singh Yadav
- Role: Chairman & Managing Director
- Background: Mr. Yadav has extensive experience in the packaging and fertilizer industries, contributing significantly to the strategic direction and operational management of the company.
- Anya Agro & Fertilizers Private Limited
- Role: Co-Promoter
- Background: This entity is involved in the agricultural sector and plays a crucial role in supporting the business operations of Anya Polytech & Fertilizers Limited.
Board of directors
| Name | Designation | Experience | Responsibilities |
|---|---|---|---|
| Mr. Yashpal Singh Yadav | Chairman & Managing Director | Over 15 years in the packaging and fertilizer industry. | Overall strategic direction and management of the company. |
| Mr. Tej Pal Singh | Non-Executive Director | Extensive experience in agricultural business and management. | Oversight of business operations and strategic initiatives. |
| Ms. Liza Sahni | Non-Executive Independent Director | Background in corporate governance and compliance. | Ensuring adherence to regulatory requirements and best practices. |
| Mr. Vineet Bhatia | Non-Executive Independent Director | Experience in finance and investment management. | Financial oversight and risk management. |
| Mr. Anurag Agarwal | Chief Financial Officer (CFO) | Over 10 years in financial management and accounting. | Financial planning, reporting, and analysis. |
| Ms. Kavita Rani | Company Secretary & Compliance Officer | Qualified Company Secretary with expertise in corporate law. | Compliance with statutory requirements and corporate governance. |
Share Holding pattern
| Category | % of Pre-Issue Capital | % of Post-Issue Capital |
| Promoter & Promoter Group | ||
| Mr. Yashpal Singh Yadav | 58.44% | 42.86% |
| Anya Agro & Fertilizers Pvt. Ltd. | 30.74% | 22.55% |
| Total Promoter & Promoter Group | 89.19% | 65.40% |
| Public | 10.81% | 34.60% |
Anya Polytech & Fertilizers IPO details
| Details | Information |
|---|---|
| IPO Dates | December 26, 2024 – December 30, 2024 |
| Issue Size | ₹44.80 crore |
| Price Band | ₹13 – ₹14 per share |
| Lot Size | 10,000 shares |
| Listing Date | January 2, 2025 |
| Use of Proceeds | Capital expenditure, working capital needs, new projects, general corporate purposes |
| Minimum Investment (Retail) | ₹1,40,000 |
| Minimum Investment (HNI) | ₹2,80,000 |
Financial of Anya Polytech & Fertilizers
Anya Polytech IPO Key Performance Indicators
(in ₹ Lakhs except Ratios and %)
| Particulars | 30 June 2024 | 31 March 2024 | 31 March 2023 | 31 March 2022 |
| Revenue from operations | 4,039.46 | 12,341.77 | 11,555.26 | 9,184.34 |
| Gross Profit | 1,262.55 | 2,930.56 | 2,165.27 | 1,060.68 |
| Gross Profit Margin (%) | 31.26% | 23.75% | 18.74% | 11.55% |
| EBITDA | 902.68 | 1,648.73 | 1,003.57 | 479.30 |
| EBITDA Margin (%) | 22.35% | 13.36% | 8.68% | 5.22% |
| Profit after Tax (“PAT”) | 441.00 | 957.55 | 471.30 | 70.22 |
| PAT Margin (%) | 10.92% | 7.76% | 4.08% | 0.76% |
| Return on Equity (“RoE”) (%) | 10.34% | 28.25% | 18.95% | 4.39% |
| Return on Capital Employed (“RoCE”) (%) | 8.82% | 16.47% | 10.69% | 5.03% |
Anya Polytech IPO Assets & Liabilities
(in ₹ Lakhs)
| Particulars | 30 June 2024 | 31 March 2024 | 31 March 2023 | 31 March 2022 |
| ASSETS | ||||
| Non-Current Assets | 4635.25 | 4925.93 | 4895.10 | 2435.04 |
| Current Assets | 6527.12 | 6210.32 | 4760.66 | 3668.26 |
| Total Assets | 11162.37 | 11136.25 | 9655.76 | 6103.30 |
| EQUITY AND LIABILITIES | ||||
| Equity | 4483.78 | 4045.35 | 2733.76 | 2240.18 |
| Non-current liabilities | 1848.65 | 1967.18 | 3531.41 | 1493.64 |
| Current liabilities | 4605.21 | 4911.67 | 3219.11 | 2369.48 |
| Total Equity and Liabilities | 11162.37 | 11136.25 | 9655.76 | 6103.30 |
Anya Polytech IPO Profit & Loss
(in ₹ Lakhs except Ratios and %)
| Particulars | 30 June 2024 | 31 March 2024 | 31 March 2023 | 31 March 2022 |
| Revenue from operations | 4,039.46 | 12,341.77 | 11,555.26 | 9,184.34 |
| Gross Profit | 1,262.55 | 2,930.56 | 2,165.27 | 1,060.68 |
| Gross Profit Margin (%) | 31.26% | 23.75% | 18.74% | 11.55% |
| EBITDA | 902.68 | 1,648.73 | 1,003.57 | 479.30 |
| EBITDA Margin (%) | 22.35% | 13.36% | 8.68% | 5.22% |
| Profit after Tax (“PAT”) | 441.00 | 957.55 | 471.30 | 70.22 |
| PAT Margin (%) | 10.92% | 7.76% | 4.08% | 0.76% |
Anya Polytech IPO Cash Flow
(in ₹ Lakhs)
| Particulars | June 30,2024 | March 31,2024 | March 31, 2023 | March 31, 2022 |
| Net cash flows generated from operating activities | 9.74 | 170.52 | 277.55 | (636.63) |
| Net cash flows generated from investing activities | 93.87 | 76.24 | (2770.96) | (901.39) |
| Net cash flows generated from financing activities | (123.14) | (204.54) | 2538.76 | 1547.63 |
| Net (decrease)/ increase in cash & cash equivalents | (19.53) | 42.22 | 45.35 | 9.61 |
| Cash and cash equivalents at the beginning of the period/ year | 134.56 | 92.34 | 46.99 | 37.38 |
| Cash and cash equivalents at the end of the period/ year | 115.04 | 134.56 | 92.34 | 46.99 |
Anya Polytech IPO Capital structure
(in ₹ Lakhs except Ratios and %)
| Particulars | Pre Issue (30.06.24) |
| Debts | |
| Long Term Debt | 1767.13 |
| Short Term Debt | 3027.38 |
| Total Debts | 4794.51 |
| Equity Shareholders Funds | |
| Equity Share Capital | 1760.00 |
| Other Equity | 2723.78 |
| Total Equity | 4483.78 |
| Total Capital | 7518.29 |
| Long Term Debt/ Equity Ratio | 0.39 |
| Total Debt/ Equity Ratio | 1.07 |
Anya Polytech IPO SWOT ANALYSIS
Strengths
- Diverse Product Range: Engaged in manufacturing HDPE & PP bags and various fertilizers, catering to multiple market segments.
- ISO Certification: ISO 9001:2015 certification enhances credibility and assures quality management.
- Established Customer Base: Strong relationships with key customers, contributing significantly to revenue.
- Experienced Management: Leadership with extensive industry experience and knowledge.
Weaknesses
- High Customer Concentration: A significant portion of revenue is dependent on a few key customers, posing risks if relationships deteriorate.
- Limited Control Over Raw Material Supply: Dependence on suppliers for raw materials without long-term contracts can lead to supply chain vulnerabilities.
- Negative Cash Flow: Historical negative cash flow from operating activities may raise concerns about financial stability.
Opportunities
- Growing Packaging Industry: The Indian packaging market is expanding rapidly, providing opportunities for growth in HDPE & PP bag production.
- Increasing Demand for Fertilizers: Rising agricultural production needs can drive demand for fertilizers, including micronutrients.
- Expansion Plans: Potential to diversify product offerings and enter new markets, including renewable energy projects.
- Government Initiatives: Supportive government policies for agriculture and manufacturing can provide favourable conditions for growth.
Threats
- Market Competition: Intense competition from established players and new entrants can impact market share and pricing power.
- Regulatory Changes: Changes in environmental and agricultural regulations may increase compliance costs and operational challenges.
- Economic Volatility: Economic downturns or fluctuations in agricultural commodity prices can adversely affect demand for products.
- Natural Disasters: Vulnerability to natural disasters can disrupt operations and supply chains, impacting production and sales.
Anya Polytech IPO Peer Comparison
| Name of the company | Market Price (₹) | EPS (₹) | P/E Ratio | RoNW (%) | NAV per Equity Share (₹) | Revenue from operations (₹ in Lakhs) |
| Anya Polytech & Fertilizers Limited | 14 | 1.09 | 12.84 | 25.73% | 4.23 | 12,341.77 |
| Peer Group | ||||||
| Commercial Syn Bag Limited | 62.9 | 1.97 | 31.98 | 6.10% | 32.22 | 28,843.47 |
Anya Polytech IPO Risks
Internal Risks
- Customer Concentration:
- Description: A significant portion of revenue is derived from a few major customers.
- Impact: Loss of any key customer could lead to substantial revenue decline and affect financial stability.
- Dependence on Raw Materials:
- Description: The company relies on a limited number of suppliers for raw materials.
- Impact: Any disruption in supply or increase in raw material costs could adversely affect production and profitability.
- Operational Risks:
- Description: Risks related to machinery breakdowns, labor issues, and production inefficiencies.
- Impact: Operational disruptions can lead to increased costs and reduced output.
- Quality Control:
- Description: Failure to maintain product quality standards.
- Impact: Quality issues can result in product returns, loss of customer trust, and potential legal liabilities.
Financial Risks
- Cash Flow Management:
- Description: The company has experienced negative cash flows from operating activities in recent years.
- Impact: Sustained negative cash flow can hinder growth and operational capabilities.
- Debt Obligations:
- Description: The company has significant borrowings that are repayable on demand.
- Impact: Any sudden demand for repayment could strain cash flows and financial stability.
- Interest Rate Fluctuations:
- Description: Changes in interest rates can affect borrowing costs.
- Impact: Rising interest rates could increase financial expenses and reduce profitability.
Market Risks
- Economic Conditions:
- Description: The company’s performance is tied to the overall economic environment in India.
- Impact: Economic downturns can lead to reduced demand for products and lower sales.
- Regulatory Changes:
- Description: Changes in government policies and regulations affecting the packaging and fertilizer industries.
- Impact: New regulations can increase compliance costs and operational challenges.
- Competition:
- Description: Intense competition from both domestic and international players.
- Impact: Increased competition can lead to price wars and reduced market share.
External Risks
- Natural Disasters:
- Description: The company’s operations are vulnerable to natural disasters such as floods, earthquakes, and other unforeseen events.
- Impact: Such events can disrupt production and supply chains, leading to financial losses.
- Pandemics and Health Crises:
- Description: Events like the COVID-19 pandemic can impact operations and market demand.
- Impact: Health crises can lead to operational shutdowns and reduced consumer spending.
Litigation involved
Anya Polytech IPO Gray Market Premium
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