Anya Polytech & Fertilizers IPO

Anya Polytech and Fertilizers Ltd IPO will open on December 26th, 2024. The IPO will close on 30th December, 2024.  The IPO is an SME (Small and Medium Enterprises) one. It will get listed at NSE SME platform.  Price band of the IPO is Rs 13 – 14 per share. Minimum lot size in which bids for the IPO can be made is of 10000 shares. Minimum investment required for this IPO is therefore Rs 1,40,000. For HNI investors, the minimum bid lot size is of 20,000 shares. Therefore, minimum investment required for HNI investors is Rs 2,80,000. Issue size of the IPO is Rs 44.80 crore.  

About The Company 

Anya Polytech was set up in 2011. The company manufactures high density polyethylene bags. It also manufactures mono hydrate and poly hydrate Zinc sulphate fertilizers.  Besides manufacturing these items, the company is also engaged in the trading of a number of fertilizers and chemicals.  

According to the DRHP of the company, it posted a profit of Rs 93.31 lakhs in FY 21;  Rs 70.22 lakhs in FY 22;  Rs 4 crore in FY 23; and Rs 10.70 crore in the nine month period ending on 31st January, 2024. Return on Equity (ROE) given by the company in this period was 12.28% in FY 21; 4.39% in FY 22; 16.42% in FY 23; and 33.50% in the nine-month period ending on 31st January 2024.  

Valuation 

Diluted earnings per share (EPS) of the company in FY 21 stood at Rs 0.11; in FY 22 at Rs 0.08; in FY 23 it was Rs 0.46; and in the nine-month period ending on 31st January, 2024 it was Rs 1.22 per share. Based on its EPS in the nine-month period ending on 31st January, 2024, the shares in the IPO are valued at a price-to-earnings (P/E) ratio of 11.47 times. If we take the average EPS in the period between FY 21 and 31st January, 2024, the P/E ratio of the IPO is 29.94 times. This at the upper range of the IPO price band.  

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