Anya Polytech IPO

The company is ISO 9001:2015 certified for quality management systems.

The company’s product portfolio includes a diverse range of items such as HDPE bags, PP bags, flexible intermediate bulk containers (FIBC), BOPP bags, woven sacks, and PP fabric. The company also fertilisers and cattle feed. Thus, they cater to a wide range of customers.

The company claims to maintain advanced infrastructure equipped with imported machinery to support its manufacturing processes.

The company has seen a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 91.84 crore in FY22 to Rs 115.55 crore in FY23 to Rs 123.42 crore in FY24. PAT increased from Rs 0.70 crore in FY22 to Rs 5.70 crore in FY23 to Rs 9.98 crore in FY24.

The company, its subsidiaries, promoters, and directors, are currently involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.

A substantial portion of the company’s revenue from operations comes from the top 10 customers. They contributed 90.75% for the period ended June 30, 2024, and 90.85%, 87.15%, and 97.20% of total sales in FY24, FY23, and FY22, respectively. Loss of any of these customers or a reduction in business from them could adversely affect the company's business operations and finances.

The company is dependent on 2 customers for a major part of its revenue. The top two customers Krishak Bharati Co-Operative Ltd contributed Rs 22.37 crore (55.39%) for the period ended June 30, 2024, and Rs 63.96 crore (51.82%), Rs 61.73 crore (53.42%) and Rs 38.70 crore (42.14%) in FY24, FY23, and FY22, to the revenue from operations respectively, and Kribhco Fertilisers Ltd contributed Rs 5.68 crore (14.05%) for the period ended June 30, 2024,, and Rs 22.86 crore (18.53%), Rs 27.97 crore (24.21%), and Rs 29.72 crore (32.36%), in FY24, FY23, and FY22, to the revenue from operations respectively. Any reduction in orders from these customers could negatively impact the company's financial health and operations.

The Shahjahanpur, Uttar Pradesh, manufacturing facility is critical for production. Any abrupt shutdown of the facility or a slowdown in production due to adverse circumstances could harm the company’s operations and financial performance.

A large portion of the company’s revenue comes from Uttar Pradesh, contributing Rs 23.69 crore (58.64%) for the period ended June 30, 2024, and Rs 76.31 crore (61.83%), Rs 54.08 crore (46.80%), and Rs 63.29 crore (68.91%) for FY24, FY23, and FY22, respectively, to the revenue from operations. Any adverse developments in this state could impact the company’s business and financial condition.

As of June 30, 2024, the company’s total debts amounted to Rs 47.94 crore. Any inability to repay or service these loans could adversely affect the company’s financial position.