About the Company:
All Time Plastics Ltd is a manufacturing company with 14 years of experience of producing plastic consumerware products for everyday household needs. We primarily produce consumerware for customers to market under their own brand names (i.e., on a business-to-business (“B2B”) basis), which is known as white-label manufacturing.
Company also sells our consumerware products under our proprietary brand name (“All Time Branded Products”) (i.e., on a business-to-consumer (“B2C”) basis).
As at March 31, 2025, Company had 1,848 stock-keeping units (“SKUs”) across eight categories: Prep Time (kitchen tools for preparing cooking ingredients); Containers (food storage containers); Organization (miscellaneous storage containers); Hangers (various types of hangers); Meal Time (kitchenware); Cleaning Time (cleaning equipment); Bath Time (bathroom products); and Junior (child-friendly tableware, cutlery and other items).
Company primarily export our products to retailers in the European Union, the United Kingdom and the United States, and also sell our products in India to IKEA and other modern trade retailers, super distributors (who sell to distributors) and distributors (who sell to general trade stores).
Company has long-standing relationships with global retailers, including IKEA, Asda Stores Limited, trading as Asda (“Asda”), Michaels Stores, Inc., trading as Michaels (“Michaels”) and Tesco Plc (“Tesco”). Further, we also sell our products to Indian retailers, including Spencer’s Retail Limited, among others.
As at March 31, 2025, Company had 690 employees and 1,589 persons working as contract labour.
Company’s Relationship with Customers:
Company, have been selling products to IKEA, our largest customer in Fiscal 2025, for more than 27 fiscal years, Asda, our second largest customer in Fiscal 2025, for more than 14 fiscal years, Michaels, our third largest customer in Fiscal 2025, for more than four fiscal years, and Tesco, our fourth largest customer in Fiscal 2025, for more than 17 fiscal years.
Company’s Customer wise Revenue:
Company’s Revenue From various Geographies:
Company’s Manufacturing Facilities:
Company currently manufacture our products from our fully integrated manufacturing facilities in Daman, Dadra and Nagar Haveli and Daman and Diu (the “Daman Facility”), Silvassa, Dadra and Nagar Haveli and Daman and Diu (the “Silvassa Facility”) and Manekpur, Gujarat (the “Manekpur Facility”).
Company’s manufacturing facilities had a combined total installed productioncapacity of 33,000 tonnes per annum as at March 31, 2025. Our capacity utilization for Fiscals 2025, 2024 and 2023 was 79.48%, 84.59% and 74.81%, respectively.
Company’s Installed Capacity:
Company’s Capacity Utilisation:
Company’s Production volume for Fiscals 2025, 2024 and 2023:
Company’s Product Categories wise Revenue:
Company’s Key Performance Indicator: (in millions)
Company’s Revenue from “All Time Plastics” and White Label Products:
Management Team:
- Mr. Kailesh Punamchand Shah (Designation: Chairman and Managing Director)
- Mr. Bhupesh Punamchand Shah (Designation: Whole-time Director)
Objectives of the Issue:
Offer For Sale: (Rs.120 cr)
- Company will not receive any proceeds from the Offer for Sale. The Selling Shareholders will be entitled to their respective portion of proceeds of the Offer for Sale.
Fresh Issue: (Rs.280 cr)
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company.
- Purchase of equipment and machinery for the Manekpur Facility and installation of automated storage and retrieval system (ASRS) for warehouse in Manekpur Facility.
- Procurement of equipment and machinery for Manekpur Facility.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company | 143 cr |
| Purchase of equipment and machinery for the Manekpur Facility and installation of automated storage and retrieval system (ASRS) for warehouse in Manekpur Facility |
113.7 cr |
Competitors in the Business:
The key plastic consumerware manufacturers in India across primarily the B2B category include our Company, Shaily Engineering Plastics Limited, Ratan Plastics, Aristoplast Products Pvt Ltd, Asian Plastoware, and Polyset Plastics Pvt Ltd.
The key plastic consumerware manufacturers in India across the primarily B2C category include Gluman (Precision Moulds and Dies), Milton (Hamilton Housewares), Cello World Limited, Princeware (Prince Corp), Freudenberg Gala Household Products Private Limited, Pearlpet (Pearl Polymers Limited), Ski Plastoware
Positives for the Company:
- Strategically located and integrated manufacturing facilities, enabling high volume, low-cost and high quality plastic consumerware production.
- Wide and growing range of plastic consumerware products, with in-house product design and mould design teams.
- Long-standing relationships with global retailers, including IKEA, Asda, Michaels and Tesco, and Indian retailers.
- company plans to Diversify our revenue stream through the manufacturing of bamboo products.
Company Plans to Expand the Existing Production Capacity.
- Company currently manufacture our products from our fully integrated manufacturing facilities in (a) Daman, Dadra and Nagar Haveli and Daman and Diu, (b) Silvassa, Dadra and Nagar Haveli and Daman and Diu and (c) Manekpur, Gujarat, which had a combined total installed production capacity of 33,000 tonnes per annum as at March 31, 2025.
- In order to take advantage of these opportunities and the forecast rise in demand for plastic homeware products and to enable us to expand our product offerings, we are planning to increase our installed capacity at our Manekpur Facility.
- As at March 31, 2025, our Manekpur Facility had a total installed capacity of 4,000 tonnes per annum. We plan to increase the installed production capacity at our Manekpur Facility to 16,500 tonnes per annum by adding 65 additional “all-electrical” injection moulding machines by the end of Fiscal 2026.
- Thereafter, we plan to further increase the total installed production capacity to 22,500 tonnes per annum by adding 36 “allelectrical” injection moulding machines in a phased manner to help ensure that we utilize our capacity at optimal levels.
Financials of the Company:
| (in Crores) | FY 23 | FY 24 | FY 25 |
|---|---|---|---|
| Revenue | 443.7 | 515.87 | 559.23 |
| Net Profit | 28.2 | 44.7 | 47.2 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| All Time Plastics Ltd | 2 | 9.01 | 30.52 | 19.01% | 47.39 |
| Shaily Engineerin g Plastics Ltd | 2 | 20.29 | 80.69 | 17% | 119.18 |
| Cello World Ltd | 5 | 15.50 | 40.71 | 16.825 | 98.12 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 7th August 2025 |
| Issue Closes on | 11th August 2025 |
| Issue Price | Rs.275 |
| Face Value | Rs.2 |
| Retail Category Allocation | 35 % |
| Minimum Lot | 54 Shares |
| Minimum Investment | Rs.14,850 |
| Issue Constitutes | 22.23 % |
| Issue Size | Rs.400 cr ($ 45 million ) |
| Market Cap | Rs.1801 cr ($ 207 million ) |
| Listing at | NSE & BSE |
| Equity Shares Offered (Fresh) | 1,01,81,818 (Rs.280 cr) |
| Equity Shares Offered (OFS) | 43,85,562 (Rs.120 cr) |
| Total Equity Shares Offered (Fresh + OFS) | 1,45,67380 (Rs.400 cr) |
| Equity Shares Prior to the Issue | 5,53,22,580 |
| Equity Shares after the Issue | 6,55,04,398 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt Equity Ratio (D/E) |
|---|---|---|---|---|
| 9.01 | 30.52 | 19.01% | 47.39 | 0.84 |
Also Read: Complete List of NSE/BSE Holidays List>
| Finalization of Basis of Allotment | on or Before 12th August 2025 |
| Initiation of Refunds | on or Before 13th August 2025 |
| Credit of Equity Shares: | on or Before 13th August 2025 |
| Listing Date: | on or Before 14th August 2025 |
| Company Contact Info: |
|---|
| All Time Plastics Ltd B-30, Royal Industrial Estate, Wadala, Mumbai – 400 031, Maharashtra, India Tel: (+91 22) 6620 8900 Email: companysecretary@alltimeplastics.com Website: www.alltimeplastics.com |
| Registrar to the Issue: |
|---|
| KFin Technologies Limited Selenium Tower B, Plot No. 31 and 32 Financial District, Nanakramguda Serilingampally Hyderabad Rangareddi – 500 032, Telangana, India Tel: (+91 40) 6716 2222 E-mail: atpl.ipo@kfintech.com Website: www.kfintech.com |
