Anya Polytech & Fertilizers
SMENSE₹44.80 Cr issue
+22.14%
Listing gain over issue price
Issue size
₹44.80 Cr
1 lot at cut-off
₹1,40,000
Lot size
10,000shares
Open
26 Dec 2024
Close
30 Dec 2024
Allotment
31 Dec 2024
Listing
02 Jan 2025
Listing performance
Issue price
₹14
Listed at
₹17.10
Listing-day close
₹17.95
Latest price
₹16
Close on 23 Oct 2026
Listing gain
+22.14%
Return since issue
+14.29%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 26 Dec 2024 – 30 Dec 2024
- Listing date
- 02 Jan 2025
- Face value
- ₹2 per share
- Issue price
- ₹14 per share
- Lot size
- 10,000 shares
- Listing at
- NSE
- Total issue size
- ₹44.80 Cr
- Market cap at offer price
- ₹168 Cr
- Promoter holding
- 89.19% → 65.40% pre-issue → post-issue
- ISIN
- INE0SI601032
- Registrar
- Skyline Financial Services Pvt.Ltd.
- Lead managers
- Beeline Capital Advisors Pvt.Ltd.
- Registered office
- S-2, Level, Upper Ground Floor, Block-E, International Trade, Nehru Place, New Delhi
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 91,04,000 | — | — |
| Market maker | 16,00,000 | — | — |
Application size
Minimum 10,000 shares per lot, in multiples, at ₹14
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 10,000 | ₹1,40,000 |
| S-HNI (min) | 2 | 20,000 | ₹2,80,000 |
| S-HNI (max) | 7 | 70,000 | ₹9,80,000 |
| B-HNI (min) | 8 | 80,000 | ₹11,20,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
91,04,000
Anchor portion
₹12.75 Cr
at ₹14 per share
Valuation and performance
Valuation at offer price
₹14 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 1.13 | 1.51 |
| P/E (×) | 12.39 | 9.27 |
| Price to book (×) | 3.31 | — |
| Market cap | — | ₹168 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 25.73%
- ROCE
- 16.47%
- Debt / equity
- 1.22
- PAT margin
- 7.76%
- NAV per share
- ₹4.23
- Price to book
- 3.31
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Anya Polytech & Fertilizers
Anya Polytech & Fertilizers Limited, incorporated in 2011 and converted to a public company in 2023, is engaged in manufacturing high-quality HDPE & PP bags (made from HDPE granules) and Zinc Sulphate Fertilizers in two categories: Mono Hydrate and Hepta Hydrate. The company also manufactures Micronutrient Mixtures and trades in Single Super Phosphate, Organic Potash, Zinc EDTA, PROM, Ferrous Sulphate, Magnesium Sulphate, and Copper Sulphate. The company operates manufacturing facilities in Shahjahanpur, Uttar Pradesh, with registered office in New Delhi and corporate office in Noida. ISO 9001:2015 certified, the company generates approximately 89% of revenues from top 10 customers, with significant reliance on agricultural sector demand.
Company Analysis
from RHPAnya Polytech & Fertilizers Limited manufactures HDPE & PP bags and Zinc Sulphate fertilizers, operating across plastic packaging and fertilizer industries in India.
Anya Polytech & Fertilizers Limited, incorporated in 2011 and converted to a public company in 2023, is engaged in manufacturing high-quality HDPE & PP bags (made from HDPE granules) and Zinc Sulphate Fertilizers in two categories: Mono Hydrate and Hepta Hydrate. The company also manufactures Micronutrient Mixtures and trades in Single Super Phosphate, Organic Potash, Zinc EDTA, PROM, Ferrous Sulphate, Magnesium Sulphate, and Copper Sulphate. The company operates manufacturing facilities in Shahjahanpur, Uttar Pradesh, with registered office in New Delhi and corporate office in Noida. ISO 9001:2015 certified, the company generates approximately 89% of revenues from top 10 customers, with significant reliance on agricultural sector demand.
Plastic packagingFertilizer manufacturingMicronutrient products
Objects of the Issue
- To meet Capital Expenditure towards purchase of Plant & Machinery and working capital requirement in Anya Polytech & Fertilizers Limited ₹ 1,269.41 Lakhs p.23
- Setting-up new project in Yara Green Energy Private Limited, subsidiary Company, along with working capital requirement ₹ 1,080.00 Lakhs p.23
- To meet Working Capital & Capital Expenditure in Arawali Phosphate Limited, subsidiary Company ₹ 850.00 Lakhs p.23
- General corporate purposes ₹ 806.69 Lakhs p.23
- To meet Capital Expenditure towards purchase of Plant & Machinery and working capital requirement in Anya Polytech & Fertilizers Limited ₹1,269.41 lakhs p.89
- Setting-up new project in Yara Green Energy Private Limited, subsidiary Company, along with working capital requirement (1 x 2 TPH Biofuel Pellet Plant) ₹1,080.00 lakhs p.89
- To meet Working Capital & Capital Expenditure in Arawali Phosphate Limited, subsidiary Company ₹850.00 lakhs p.89
- General corporate purposes ₹806.69 lakhs p.89
- To meet Capital Expenditure towards purchase of Plant & Machinery and working capital requirement in Anya Polytech & Fertilizers Limited. p.106
- Setting-up new project ('Proposed Project') in Yara Green Energy Private Limited, subsidiary Company, along with working capital requirement. p.106
- To meet Working Capital & Capital Expenditure in Arawali Phosphate Limited, subsidiary Company. p.106
- General Corporate Purpose. p.106
- Public Issue Expenses. ₹473.90 lakhs (estimated total issue expenses) p.106
- The document does not explicitly state specific uses of proceeds from the IPO in the 'Objects of the Issue' section within the pages provided
Issue Structure
- Total Issue
- ₹ 4,480.00 Lakhs (32,000,000 equity shares of ₹ 2 each)
- Fresh Issue
- 32,000,000 Equity Shares of ₹ 2 each aggregating to ₹ 4,480.00 Lakhs
- Offer for Sale
- Nil
- Price Band
- ₹ 13 (Floor Price) to ₹ 14 (Cap Price)
- Lot Size
- 10,000 Equity Shares and in multiples of 10,000 Equity Shares thereafter
- Face Value
- ₹ 2 per equity share
Business Model
The company earns revenue through manufacturing and sale of HDPE & PP woven sacks/bags and Zinc Sulphate fertilizers to agricultural and industrial customers. Additionally, the company engages in trading of agricultural inputs and fertilizer-related products.
Business Segments
Manufacturing of high-quality HDPE & PP bags made from HDPE granules for industrial and agricultural packaging
Manufacturing of Zinc Sulphate Fertilizers in Mono Hydrate and Hepta Hydrate categories
Manufacturing of Micronutrient Mixture
Trading of Single Super Phosphate, Organic Potash, Zinc EDTA, PROM, Ferrous Sulphate, Magnesium Sulphate, Micronutrient Mixture, Copper Sulphate Certified Seeds and Cattle feed
Manufacturing of high-quality HDPE & PP bags made from HDPE granules, with planned expansion into jumbo bag production with estimated capacity of 15.75 lakh bags per annum
Manufacturing of zinc sulphate fertilizers in two categories: Mono Hydrate and Hepta Hydrate
Manufacturing of micronutrient mixtures for agricultural use
Trading in single super phosphate (SSP), organic potash, zinc EDTA, phosphate-rich organic manure, ferrous sulphate, magnesium sulphate, micronutrient mixture, copper sulphate, certified seeds, and cattle feed
Manufactures high-density polyethylene and polypropylene bags for bulk packaging of commodities including food-grains, sugar, urea, cement, etc. Produces woven sacks that outperform traditional jute bags due to properties including low seepage loss, moisture resistance, water/insect/rodent resistance, and compatibility with edible materials.
Manufactures zinc sulphate in two forms: Monohydrate (ZnSO4.H2O) and Heptahydrate (ZnSO4.7H2O) as agricultural micronutrients used to correct zinc deficiencies in soils and promote plant growth, crop yields, and nutrient absorption. Also manufactures micronutrient mixtures.
Manufactures and sells Single Super Phosphate (SSP) fertilizers through subsidiary Arawali Phosphate Limited. SSP is a phosphatic fertilizer used to strengthen roots in plants, particularly suited for crops like oilseeds, pulses, horticulture, vegetables, sugarcane, and paddy.
Trades in fertilizers and agri-inputs including Organic Potash, Zinc EDTA, phosphate-rich organic manure (PROM), Ferrous Sulphate, Magnesium Sulphate, Copper Sulphate, certified seeds, and cattle feed through retail outlets called Krishak Unnati Kendra.
Manufacturing of High Density Polyethylene and Polypropylene bags for packaging applications
Manufacturing and sale of agriculture-grade zinc sulphate fertilizer
Manufacturing and sale of Single Super Phosphate (SSP) fertilizer through subsidiary Arawali Phosphate Limited
Manufacturing of high-quality HDPE & PP woven sacks and fabric for industrial packaging, including packing materials for sugar, food grain, cement and fertilizers
Manufacturing and selling of zinc sulphate products including Mono Hydrate, Hepta Hydrate, and related micronutrient products
Manufacturing and selling of Single Super Phosphate fertilizer products
Sale of fertilizer products through retail outlets to end consumers
SWOT Analysis
Strengths
- • ISO 9001:2015 certified quality management system(p.22)
- • Established distribution through Krishak Bharati Co-operative Limited (KRIBHCO)(p.32)
- • Dual business vertical providing product diversification(p.22)
- • Diversified product portfolio spanning HDPE/PP bags, zinc sulphate fertilizers, and micronutrient products(p.89)
- • Strategic expansion into jumbo bag manufacturing to capitalize on growing market demand(p.91)
- • Established operations in subsidiary companies including biofuel and fertilizer manufacturing(p.94)
- • Strong promoter commitment with 89.19% pre-issue shareholding(p.82)
- • Experienced promoter and management team with 15+ years industry experience(p.152)
- • ISO 9001:2015 certification demonstrating quality management commitment(p.153)
- • Diverse product portfolio across HDPE/PP bags and fertilizers(p.152)
- • Strategic MOU with KRIBHCO for market access and distribution(p.155)
- • Strong revenue growth with CAGR of 15.92% over three years(p.118)
- • Established presence in plastic packaging and fertilizer industries with over 12 years of experience(p.182)
- • Subsidiary company Arawali Phosphate is established manufacturer with longstanding market presence(p.202)
- • Diversified product portfolio across HDPE/PP bags, fertilizers (Zinc, SSP), and agricultural products(p.225)
- • Strong promoter backing with 89.19% shareholding as of June 30, 2024(p.221)
- • ISO 9001:2015 certified quality management system(p.244)
- • Diversified product portfolio across packaging and fertilizers(p.244)
- • Established presence in key agricultural state(p.248)
- • Strong recent revenue growth trajectory(p.249)
- • Improved profitability with rising margins(p.251)
- • Positive EBITDA margin improvement(p.247)
Weaknesses
- • Heavy dependence on top two customers for 69.44% of revenue(p.31)
- • Top ten customers account for 90.75% of sales, creating concentration risk(p.31)
- • No long-term agreements with suppliers; raw material prices determined through quotes(p.31)
- • Top ten suppliers contribute 74.51% of purchases with no long-term contracts(p.31)
- • Material liabilities from outstanding legal proceedings(p.30)
- • History of delays and non-compliance in statutory filings with RoC(p.32)
- • Company has not filed required MGT-14 form for loans to promoters and subsidiaries(p.35)
- • Failed to make required CSR expenditure in FY 2023-24(p.35)
- • High debt-to-equity ratio of 1.07 as of June 30, 2024(p.40)
- • Negative cash flow from operations in FY 2021-22 (-₹636.63 Lakhs)(p.38)
- • Promoter was director of struck-off company SKWPL(p.35)
- • Delayed GST, EPF, and TDS filings across multiple financial years(p.47)
- • Properties not owned; manufacturing facility, offices on lease/rent(p.29)
- • Unsecured loans of ₹580.04 Lakhs repayable on demand(p.40)
- • High dependence on a concentrated supplier base and critical raw materials(p.48)
- • Significant working capital requirements and cash flow strain from operations(p.92)
- • Substantial debt obligations with total borrowings of ₹4,794.51 lakhs(p.56)
- • Plant concentration risk with major operations in single geographic location(p.48)
- • High customer concentration risk with top customer representing 55.39% of revenue(p.138)
- • Very low capacity utilization across multiple segments(p.138)
- • Significant debt burden with secured and unsecured loans(p.161)
- • Heavy reliance on specific raw material sources with no diversification mentioned(p.147)
- • High debt levels with total borrowings of ₹4,794.51 lakhs as of June 30, 2024(p.211)
- • Negative equity in prior years, only recently turned positive(p.222)
- • Dependence on few customer segments and geographic concentration in specific regions(p.225)
- • Limited financial track record with company incorporated only in 2011 and subsidiaries acquired recently(p.227)
- • Significant customer concentration risk(p.258)
- • Elevated debt levels relative to equity(p.259)
- • Director disqualification history(p.261)
- • Product quality compliance issues(p.260)
- • Multiple tax proceedings and outstanding demands(p.263)
- • Outstanding litigation for non-payment(p.261)
- • Heavy reliance on unsecured related-party loans(p.237)
Opportunities
- • High growth in India's packaging market from USD 50.5B (2019) to USD 204.81B (2025) at 26.7% CAGR(p.22)
- • India is among the largest consumers of fertilizers with continually growing domestic sales(p.23)
- • Fertilizer production is one of India's eight core industries with positive growth since 2014(p.23)
- • Fastest growing packaging segments are laminates and flexible packaging, especially woven sacks(p.22)
- • Government ensures affordable fertilizer prices to increase agricultural productivity(p.23)
- • Subsidy on notified fertilizers supports industry growth and food security(p.23)
- • Expansion plan to increase capacity in jumbo bags, SSP fertilizers, and biomass pellets(p.38)
- • Expansion into biofuel and renewable energy sector with 1x2 TPH biofuel pellet plant(p.94)
- • Capacity expansion through investment in new jumbo bag manufacturing with 15.75 lakh bags per annum output(p.91)
- • Geographic expansion potential through subsidiary investments in core fertilizer products(p.99)
- • Listed status to enhance corporate visibility and access capital markets more efficiently(p.89)
- • India plastic packaging market growth from USD 21.12 billion (2023) to USD 24.59 billion (2028)(p.127)
- • Rapid e-commerce growth driving demand for packaging solutions(p.127)
- • Strong fertilizer demand from increasing agricultural productivity(p.131)
- • Government support for fertilizer sector through subsidy schemes(p.134)
- • Planned expansion into biofuel production through Yara Green Energy subsidiary(p.136)
- • Government support through NBS subsidy for fertilizer products(p.225)
- • Expansion of manufacturing capacity and new business lines through subsidiaries(p.227)
- • Geographic expansion opportunity with presence currently concentrated in select regions(p.225)
- • IPO platform to raise capital for growth and debt reduction(p.227)
- • Expansion through outlet retail model(p.249)
- • Growing capacity and production capability(p.252)
- • Renewable energy integration to reduce costs(p.249)
- • Subsidiary expansion increasing product reach(p.245)
- • Bio-briquettes/pellets new business line through subsidiary(p.273)
Threats
- • Fertilizer business dependent on agricultural sector performance and monsoon conditions(p.36)
- • Decreased agricultural commodity prices can reduce fertilizer demand and prices(p.36)
- • Adoption of alternative products and GMOs could reduce fertilizer demand(p.36)
- • 100% revenue from operations generated in India creates geographic concentration risk(p.39)
- • Manufacturing facility concentration in Shahjahanpur creates operational disruption risk(p.36)
- • India's heavy dependence on imports for crude, manufactured fertilizers and raw materials(p.23)
- • Changing government policies and regulations could adversely affect operations(p.47)
- • Loss of marketing agreement with KRIBHCO would impact zinc sulphate sales(p.32)
- • Potential lease termination at manufacturing facilities could disrupt operations(p.29)
- • Business subject to seasonal and cyclical volatility affecting sales and inventory(p.47)
- • Macroeconomic exposure to India-specific downturns and consumer spending volatility(p.48)
- • Risk of disruption from natural disasters, pandemics, and geopolitical instability(p.48)
- • Inflation pressure limiting ability to adjust product prices proportionally(p.50)
- • Exposure to adverse changes in Indian tax, fiscal, and regulatory policies including GST(p.49)
- • Sovereign credit rating downgrade risk affecting financing access and terms(p.49)
- • Interest rate and foreign exchange volatility affecting debt servicing and competitiveness(p.48)
- • Intense competition in plastic packaging industry with many players(p.155)
- • Government ban on single-use plastic impacting business(p.128)
- • Volatility in international prices of fertilizer raw materials(p.134)
- • Dependence on government subsidy policies for fertilizer pricing(p.134)
- • Supply chain disruption risks from Russia-Ukraine war impact on packaging(p.128)
- • Exposure to commodity price volatility affecting raw material costs(p.212)
- • Regulatory compliance requirements for boilers, environmental, and labor laws(p.174)
- • Agricultural sector cyclicality and monsoon dependency affecting fertilizer demand(p.174)
- • Competition in plastic packaging and fertilizer markets with multiple established players(p.225)
- • Seasonal dependency in fertilizer segment(p.258)
- • Competitive market pressures(p.258)
- • Raw material price volatility impact(p.257)
- • Regulatory and policy changes affecting business(p.245)
- • Interest rate and FX rate risks(p.257)
- • Pending arbitration for plant commissioning defects(p.261)
- • Production disruption from infrastructure failure(p.249)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Yashpal Singh Yadav | Promoter | 58.44% | — |
| Anya Agro & Fertilizers Private Limited | Promoter | 30.74% | — |
| Yashpal Singh Yadav | Promoter | 58.44% | 42.86% |
| Anya Agro & Fertilizers Private Limited | Promoter Group | 30.74% | 22.55% |
| Yashpal Singh Yadav | Promoter/Promoter Group | — | — |
| Mr. Yashpal Singh Yadav | Promoter | 58.45% | 58.44% |
| Anya Agro & Fertilizers Private Limited | Promoter Group | 30.74% | 30.74% |
| Yash Pal Singh Yadav | Promoter/Managing Director | — | — |
Leadership
Yashpal Singh Yadav · Managing Director
Anurag Agarwal · Chief Financial Officer
Kavita Rani · Company Secretary and Compliance Officer
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Anya Polytech & Fertilizers IPO FAQs
What is the lot size of Anya Polytech & Fertilizers IPO?
The minimum lot size of Anya Polytech & Fertilizers IPO is 10,000 shares. One lot costs ₹1,40,000 at the cut-off price.
When does Anya Polytech & Fertilizers IPO open and close?
Anya Polytech & Fertilizers IPO opened for subscription on 26 Dec 2024 and closed on 30 Dec 2024.
What is the listing date of Anya Polytech & Fertilizers IPO?
Anya Polytech & Fertilizers IPO listed on 02 Jan 2025.