Anya Polytech & Fertilizers Ltd. (ANYA)
SME CapIndustrials stocks · SME cap · NSE
Anya Polytech & Fertilizers, incorporated in 2011, is a diversified and integrated enterprise with strong presence in agri-imports, fertilizers, micronutrients, packaging solutions, certified seeds, cattle feed, renewable energy, and circular economy initiatives. Publicly listed in 2025, it operates through subsidiaries with manufacturing units in UP, Rajasthan, and MP.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Weak fundamentals, management trust needs verification, price trend argues for patience, and recent execution is weak.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Average · 30/100YoY data unavailable — classification deferred
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹80 Cr | NDF | -18.4% |
| EBITDA | ₹5 Cr | -16.7% | -58.3% |
| Operating margin | 6.0% | -400 bps | -600 bps |
| PAT | ₹2 Cr | NDF | -66.7% |
| PAT margin | 2.5% | +250 bps | -362 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
Anya Polytech & Fertilizers reported H1 FY26 consolidated total income of INR99.70 crores, EBITDA of INR13.39 crores, and net profit of INR6.14 crores. Management noted stable demand across segments but acknowledged margin pressure from product mix and significantly higher raw material costs, particularly sulfuric acid.
H1 FY26 results show revenue growth but significant margin compression due to a 250% increase in sulfuric acid costs. Management projects H2 FY26 EBITDA margins to recover to 17-19% and full-year revenue to exceed INR200 crores, surpassing IPO targets. The company is actively expanding capacity and product lines, and plans to become debt-free, but execution on margin recovery and new projects is key.
Revenue by Segment (H1 FY26)
Latest issuer-disclosed distribution across 2 reported categories.
Fertilizer Sector Expansion
Fertilizer sector is more attractive because new products are open in India and government is continuously encouraging local manufacturing.
Packaging Export Opportunities
US market is open for India... China is facing huge tariffs in US. So, our US market is open for India. We are now our product is cheaper in global market.
High-Margin Product Diversification
We are focusing on high margin products only... chelated salts of all the micronutrients... patented pesticides... jumbo bag and Leno bag.
Green Energy Initiatives
Yara Green Private Limited... solar infrastructure... biomass solution... pulp molding tableware... will add another INR50 crores to INR60 crores to company's turnover.
Polyfirm Packaging Integration
Successful integration of our wholly-owned subsidiary, Polyfirm Packaging Limited. The addition of this facility has strengthened our SDP, PPP manufacturing capabilities.
SSP Capacity Expansion
In fertilizer sector, we are already expanding our product portfolio capacity in Single Super Phosphate. This year we will achieve 30% more additional capacity and by next year, we will achieve 100% capacity.
Yara Green Biomass Unit
In this six months, we will establish the unit (biomass solution). Yara Green will come in production... from April onwards.
Solar Power Project
We have already started a pilot project of 700 kilowatt and company is utilizing that energy into self-captive use.
Government Support for Local Manufacturing
Government is continuously encouraging local manufacturing because they don't want to import fertilizer.
US Market Opening for Packaging
US market is open for India... China is facing huge tariffs in US. So, our US market is open for India.
Startup India Benefits for Polyfirm
Polyform packaging... is in the Startup India scheme... 3 years of tax benefits... power cost is less... bypassing all the government tenders.
FCI Shift to BOPP Bags
FCI, Food Corporation of India is also shifting from jute bag to BOPP bags just because of price and quality.
High Raw Material Costs
Sulfuric acid prices have gone up drastically. So, they are increased by 250% in last six months because of global scenario.
Packaging Margin Limitation
There is a limitation in this sector because we cannot go beyond 10%-11% (EBITDA margin in packaging).
Raw Material Price Volatility
Sulfuric acid prices have gone up drastically... our purchase is slightly higher, because we take orders for six-month contract.
Competition in Packaging
Multiple regional players who operate at a lower price point.
Execution Risk for New Products/Projects
Those products will take time to make the market (high-margin fertilizers). Biomass pellets project will be completed in next 6 months and pulp molding will be completed in another 10 months.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
H1 results are presented, which are best compared year-over-year to account for potential seasonality in agri-inputs and packaging demand. The company also refers to 'previous year' for context on margins.
Total Income (H1 FY26)
Consolidated total income of INR99.70 crores.
EBITDA (H1 FY26)
EBITDA of INR13.39 crores.
Net Profit (H1 FY26)
Net profit of INR6.14 crores.
EBITDA Margin (H1 FY26)
13.43%EBITDA margin this quarter, it is showing less because some of our raw material, our purchase was expensive in first quarter because of global scenarios like sulfuric acid.
FY26 Revenue Target
This year, consolidated, we will be above INR200 crores plus.
H2 FY26 Margin Outlook
EBITDA margin will touch around 17% to 19%.
Long-term Revenue Target (FY27)
By 2026-27, I am targeting INR350 crores.
Long-term EBITDA Target
EBITDA 18%-20%.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| EBITDA Margin | 13.4% (H1 FY26) | Recovery to 17-19% in H2 FY26 as raw material costs normalize. |
| FY26 Revenue | INR99.70 crores (H1 FY26) | Exceeding INR200 crores for the full year. |
| SSP Capacity Expansion | 30% additional capacity this year | Achieving 100% additional capacity by next year. |
| Debt-Free Status | Planning an issue in January | Successful completion of the issue and debt reduction. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
43NeutralSMA20 -2.6% / mo · MACD + · near 52W low
Technical chart
ANYAdaily · 1Y · AUTO-22.5%Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 51. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~2.7% over last month) — short-term momentum negative.
- RSI(14) at 51 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 39% off 52W high · 8% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation & score drivers
U-Score 32 · WATCHLIST · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 32 · WATCHLIST · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
WATCHLISTWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 7/9.
- Fair-value margin of safety is positive at 51.4%.
- Growth contributes 13/25 to the score.
Main drags
- Penalty bucket subtracts 7 points.
- Quality is weaker at 1/20; verify the latest quarterly trend.
- Cash flow is weaker at 1/10; verify the latest quarterly trend.
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +1 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Mixed Trust: Claim history is still being built. It ranks around the 25th percentile of the scored universe and 20th percentile within Industrials. Main check: cash conversion is weak at 43/100.
Mixed Trust Lite: Promoter holding is 65.4%. Key concern: Only 1 years of positive FCF.
Usable, but needs evidence. Treat guidance with a margin of safety.
overall median 67 · Industrials: 20th pctile, median 68 · SME: 27th pctile, median 64
1 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Mixed Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter holding is 65.4%.
- ▸Promoter pledge is zero.
Trust risks
- ▸Only 1 years of positive FCF.
- ▸ROCE trend is -3.8%.
- ▸OPM spread across recent quarters is 15%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 21.90
- P/B
- 1.90
- EV/EBITDA
- 11.57
- Market Cap
- 184.00Cr
Profitability
- ROE
- 9.08%
- ROCE
- 10.20%
- ROA
- 4.33%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 13.00%
- EPS 5Y
- 13.00%
- Revenue 3Y
- 16.00%
- EPS 3Y
- 21.00%
Balance Sheet
- Debt/Equity
- 0.85
- Interest Coverage
- 2.43×
- Altman Z
- 2.76
- Book Value
- 8.04
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 1/5
- OCF
- 12.00 Cr
- EPS TTM
- 0.70
Shareholding
- Promoter Hold
- 65.40%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 10%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
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Peers
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Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.