ALLTIME - All Time Plastic
📢 Recent Corporate Announcements
All Time Plastics Limited has announced an analyst and institutional investor meeting scheduled for March 13, 2026. The event is organized by Ambit Capital Pvt. Ltd. and will involve visits to the company's manufacturing facilities in Daman, Silvassa, and Khatalwada (Gujarat). The company has stated that discussions will be based strictly on publicly available information with no unpublished price sensitive information being shared. This interaction reflects the company's ongoing engagement with the institutional investment community.
- Meeting scheduled for Friday, March 13, 2026, starting from 10:00 am onwards.
- Organized by Ambit Capital Pvt. Ltd. for institutional participants.
- Includes site visits to facilities located in Daman, Silvassa, and Khatalwada.
- Compliance disclosure under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
All Time Plastics Limited has announced its participation in a Non-Deal Roadshow (NDR) scheduled for February 23, 2026, in Mumbai. The event is organized by Yes Securities and will feature 1x1 or group meetings with institutional investors and analysts starting from 9:00 AM. The company has explicitly stated that discussions will be based on publicly available information and no unpublished price sensitive information will be shared. This engagement reflects management's ongoing efforts to maintain transparency and visibility with the investment community.
- Non-Deal Roadshow (NDR) scheduled for February 23, 2026, in Mumbai.
- Interaction organized by Yes Securities involving 1x1 and group meetings.
- Meetings are set to commence from 9:00 AM onwards.
- Company confirms no unpublished price sensitive information (UPSI) will be discussed during the sessions.
All Time Plastics reported a strong sequential recovery in Q3 FY26, with revenue growing 8.1% QoQ to ₹159.3 crores and PAT surging 117% QoQ to ₹9.2 crores. While YoY profitability declined due to expansion-related fixed costs and a ₹4.4 crore exceptional labor code provision, margins showed significant improvement with EBITDA margin rising to 14.7% from 11% in Q2. The company is aggressively expanding its Khatalwada facility, targeting a total capacity of 52,500 MT by FY27 to capitalize on the China-plus-one strategy. Exports remain the primary driver, contributing nearly 84% of total revenue.
- Revenue grew 8.1% QoQ to ₹159.3 crores, driven by improved order traction in core export markets like Europe and the US.
- EBITDA increased 44.3% sequentially to ₹23.5 crores, reflecting strong operating leverage as new capacity begins to absorb fixed costs.
- Total installed capacity reached 39,000 MT as of Dec 2025, with a target of 52,500 MT by FY27.
- Profitability was impacted by a one-time exceptional provision of ₹4.4 crores related to the implementation of the new labor code.
- Exports continue to dominate the mix at 83.9% of revenue, with Europe accounting for approximately 60% of total sales.
All Time Plastics Limited has made the audio recording of its Q3FY26 earnings conference call available to the public. The call was conducted on February 10, 2026, following a prior notification issued on February 04, 2026. This disclosure is in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Investors can access the recording via the company's website or the provided direct link to review management commentary.
- Q3FY26 Earnings Call was successfully hosted on February 10, 2026
- Audio recording link is now live on the company's official website
- Compliance maintained under Regulation 30 of SEBI (LODR) Regulations
- Direct access provided via a Cloudfront mp3 link for transparency
All Time Plastics Limited has formally adopted a Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI) as required under Regulation 8(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. The code aims to ensure that price-sensitive information is disseminated uniformly and universally to all stakeholders to prevent selective disclosure. The company has designated its Company Secretary, Antony Alapat, as the Chief Investor Relations Officer (CIRO) to manage these communications. This is a standard governance measure to maintain transparency and market integrity.
- Adoption of Fair Disclosure Code in compliance with SEBI PIT Regulations, 2015
- Appointment of Antony Alapat, Company Secretary, as the Chief Investor Relations Officer
- Commitment to prompt public disclosure of UPSI to ensure information is generally available
- Establishment of protocols for responding to market rumours and queries from regulatory authorities
All Time Plastics Limited has officially released the audio recording of its Q3FY26 earnings conference call held on February 10, 2026. This disclosure follows the company's prior notification on February 04, 2026, regarding the scheduled investor interaction. The recording provides a detailed account of management's discussion on the third-quarter financial performance and strategic outlook. Investors can access the full audio via the company's website or the provided direct cloud link to gain deeper insights into business operations.
- Q3FY26 Earnings Call was successfully conducted on February 10, 2026
- Audio recording made available in compliance with SEBI Listing Obligations and Disclosure Requirements
- Direct access link provided: https://dhxsmo2hh5phd.cloudfront.net/media/eHAVBt_10040545.mp3
- Follows the initial meeting intimation sent to exchanges on February 04, 2026
All Time Plastics (ATPL) reported an annual installed capacity of 39,000 tonnes with a 76.6% utilization rate for the nine months ending December 2025. The company is diversifying its portfolio by entering the engineered bamboo segment through a pilot facility in Guwahati and a strategic MoU with NECBDC. ATPL continues to leverage its 'China+1' advantage, exporting to 29 countries while maintaining energy-neutral operations. The presentation underscores a strong focus on high-volume, automated manufacturing and sustainable material usage.
- Total annual installed capacity reached 39,000 tonnes following a 2,000 MT expansion at the Khatalwada plant in December 2025.
- Capacity utilization stood at 76.6% for 9MFY26, with 21,244 MT of polymers processed during the period.
- The company operates 169 injection moulding machines, with 76% being energy-efficient all-electric models.
- Strategic entry into the bamboo consumerware market via a pilot facility in Guwahati and a partnership with NECBDC.
- Maintains 100% energy-neutral manufacturing facilities with over 25% of products made from recycled plastics in FY25.
All Time Plastics reported a 7.1% YoY increase in consolidated revenue to ₹159.40 crore for Q3 FY26. Net profit for the quarter declined by 23.6% YoY to ₹9.17 crore, primarily due to a one-time exceptional item of ₹4.37 crore related to IPO expenses. A significant strategic update includes the commencement of commercial production for bamboo-based products, supported by a newly approved investment of ₹10 crore. Despite the YoY profit dip, the company showed strong sequential growth with PAT rising 124% compared to Q2 FY26.
- Revenue from operations increased to ₹159.40 crore in Q3 FY26 from ₹148.82 crore in Q3 FY25.
- Net Profit (PAT) stood at ₹9.17 crore, impacted by a ₹4.37 crore exceptional listing-related expense.
- Board approved a fresh investment of ₹10 crore for the expansion into bamboo-based product manufacturing.
- Nine-month (9M FY26) revenue grew to ₹464.78 crore, up from ₹409.92 crore in the previous year.
- Finance costs for 9M FY26 rose to ₹12.91 crore compared to ₹10.15 crore in 9M FY25.
All Time Plastics Limited has modified its Joint Venture (JV) agreement with Dragon Bridge Pte. Limited and its Singapore-based subsidiary. Under the revised terms, the company is no longer mandated to route all new overseas sales through the JV entity. Specifically, for customers where Dragon Bridge did not play a material marketing role, All Time Plastics can now service them directly at its sole discretion. This strategic shift allows the company to maintain better control over its international client relationships and potentially improve profit margins by avoiding JV-related profit sharing for those accounts.
- Amendment to the Joint Venture Agreement originally signed on December 27, 2024.
- Removes the mandate to route all new international sales through the Singapore JV entity, All Time Plastics Pte. Limited.
- Grants the company sole discretion to service customers directly if the partner's marketing role was not material.
- The change aims to streamline international operations and potentially enhance margins on direct exports.
All Time Plastics Limited has scheduled an earnings conference call for February 10, 2026, at 12:00 PM IST to discuss its performance for the quarter ended December 31, 2025. The company's top management, including the Chairman & Managing Director and the CFO, will be present to address financial and operational queries. This call follows the announcement of the unaudited standalone and consolidated financial results for Q3 FY26. Investors can participate via the provided dial-in numbers or a Diamond Pass link.
- Earnings call scheduled for Tuesday, February 10, 2026, at 12:00 noon IST.
- Discussion will cover financial and operational performance for the quarter ended December 31, 2025.
- Management participants include Mr. Kailesh Shah (CMD), Mr. Nilesh Shah (WTD), and Mr. Manish Gattani (CFO).
- Primary access numbers for the call are +91 22 6280 1309 and +91 22 7115 8210.
All Time Plastics Limited (ATPL) has entered into a 3-year non-binding Memorandum of Understanding with the North East Cane and Bamboo Development Council (NECBDC). As a Product and Market Development Partner, ATPL will support the development of engineered bamboo boards and panels in Assam and Nagaland. This initiative leverages ATPL's 37,000 MTPA manufacturing capacity and its export network across 29 countries to create sustainable product lines. The partnership aims to integrate North Eastern bamboo clusters into global supply chains, aligning with the company's material diversification strategy.
- 3-year MoU signed with NECBDC under the Ministry of Development of North Eastern Region
- ATPL empanelled as a Product and Market Development Partner for engineered bamboo initiatives
- Initial focus on ecosystem-level interventions in Assam and Nagaland for product prototyping and manufacturing
- Leverages ATPL's existing infrastructure, including a 37,000 MTPA capacity and exports to 29 countries
- The collaboration targets high-value structural applications and export-oriented bamboo ecosystems
All Time Plastics Limited has submitted its compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended December 31, 2025. The certificate, issued by KFin Technologies Limited, confirms that the details of securities dematerialized or rematerialized during the period have been correctly reported to the stock exchanges. This is a mandatory quarterly administrative filing required for all listed companies in India. It ensures that the company's shareholding records are accurately maintained between the company and the depositories.
- Compliance certificate submitted for the quarter ended December 31, 2025.
- KFin Technologies Limited confirmed as the Registrar & Transfer Agent (RTA).
- Adherence to SEBI (Depositories and Participants) Regulations, 2018 confirmed.
- Confirmation that security details were furnished to both BSE and NSE.
All Time Plastics Limited has announced the closure of its trading window starting January 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is ahead of the declaration of the company's unaudited standalone and consolidated financial results for the quarter ending December 31, 2025. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the results are announced. The specific date for the board meeting to approve these financial results will be disclosed at a later time.
- Trading window closure begins on Thursday, January 1, 2026.
- Closure pertains to the unaudited financial results for the quarter ending December 31, 2025.
- Trading restriction ends 48 hours after the official declaration of results.
- Complies with SEBI (Prohibition of Insider Trading) Regulations, 2015.
All Time Plastics Limited has appointed Mr. Amitrajit Ghosh as the Chief Human Resource Officer (CHRO) effective December 18, 2025. Mr. Ghosh is a seasoned professional with over 25 years of experience in global HR management at companies like Wipro and Dow Chemical. Concurrently, Mr. Manoj Deshmukh, Deputy General Manager-HR, will cease to be part of the Senior Management Personnel due to a change in the internal reporting structure. This transition reflects the company's focus on strengthening its leadership with experienced industry veterans.
- Mr. Amitrajit Ghosh appointed as Chief Human Resource Officer (CHRO) effective December 18, 2025
- New CHRO brings over 25 years of experience from Dow Chemical, Murugappa Group, and Wipro
- Mr. Manoj Deshmukh ceases to be classified as Senior Management Personnel due to reporting structure changes
- Mr. Ghosh was recognized as a Top 10 HR Leader in India by CEO Insights Magazine in 2020
Financial Performance
Revenue Growth by Segment
Overall revenue grew at a CAGR of 22% for the three fiscal years ended FY 2024. H1 FY26 revenue reached INR 305.4 Cr, a 17% increase from INR 261.1 Cr in H1 FY25. The B2C segment currently contributes 17% of revenue, with a strategic target to increase this to 25% to improve overall margins.
Geographic Revenue Split
Exports are the primary driver, constituting 90% of total revenues. Domestic sales make up the remaining 10%, though the company is actively diversifying product development for the Indian market to drive domestic growth.
Profitability Margins
Gross margins typically average 39-40%, but declined to 36.18% in Q2 FY26 from 39.27% in Q1 FY26 due to a shift in customer mix and a one-off INR 3.3 Cr raw material sale. PAT margin for FY25 stood at 8.5% (INR 47.3 Cr) compared to 8.7% (INR 44.8 Cr) in FY24.
EBITDA Margin
EBITDA margin was 18.3% in FY25 (INR 102.4 Cr). However, H1 FY26 EBITDA fell 11.1% YoY to INR 45.0 Cr, with Q2 FY26 margins dipping to 11.0% from 19.6% YoY. This decline was driven by fixed expenses from new plants in Manekpur and Guwahati starting before sales fully ramped up.
Capital Expenditure
The company undertook significant expansion with net cash used in investing activities totaling INR 151.8 Cr in H1 FY26. This includes major capex at the Khatalwada plant and new facilities in Manekpur and Guwahati to support future order flow.
Credit Rating & Borrowing
CRISIL maintains a 'Positive' outlook. Interest coverage ratio was 5.6 times in FY24. Debt-to-equity ratio increased to 0.70x in Sept 2025 from 0.20x in Sept 2024 following IPO-related equity changes and increased borrowing for expansion.
Operational Drivers
Raw Materials
Polymers (primary raw material) represent the bulk of the cost of materials consumed, which totaled INR 347.1 Cr in FY25 (approximately 62% of revenue).
Import Sources
Not specifically disclosed, but prices are noted to be linked to global crude oil prices and impacted by global demand volatility.
Capacity Expansion
An additional 4,000 MT of capacity was installed at the Khatalwada plant in September 2025. New plants in Manekpur and Guwahati are also being ramped up to handle secured big orders for upcoming quarters.
Raw Material Costs
Cost of materials consumed was INR 347.1 Cr in FY25, up from INR 299.2 Cr in FY24. Margins are susceptible to polymer price fluctuations, which are generally passed to customers with a lag, keeping operating margins between 15.3% and 18.6% historically.
Manufacturing Efficiency
Capacity utilization calculations for Sept 2025 exclude the new 4,000 MT Khatalwada capacity. Fixed asset turnover ratio decreased in H1 FY26 due to the massive capex incurred at the Khatalwada plant.
Strategic Growth
Expected Growth Rate
22%
Growth Strategy
Growth is targeted through a 25% increase in B2C segment contribution, the launch of a new Bamboo-based product line (starting with a 4,000 cubic capacity pilot), and capacity expansion at Khatalwada, Manekpur, and Guwahati to service large retail clients like IKEA and Walmart.
Products & Services
Moulded plastic household products, including kitchenware, bathware, and home utility products. New products include bamboo-based household items.
Brand Portfolio
Manish Express (high-volume business line).
New Products/Services
Bamboo-based products are being launched via a pilot facility, with orders already secured from a major customer. This is viewed as a 'first-mover' opportunity that could eventually match the scale of current business lines.
Market Expansion
The company is expanding its domestic footprint and diversifying its product development cycles to reduce reliance on international markets, which currently contribute 90% of revenue.
Market Share & Ranking
Leading producer in the fragmented plastic injection mould industry with over three decades of presence.
External Factors
Industry Trends
The plasticware industry is highly fragmented. ATPL is positioning itself for the future by shifting toward sustainable materials (Bamboo) and increasing B2C presence to capture higher margins as the industry evolves.
Competitive Landscape
Competes in a fragmented market with many small players; differentiates through scale, quality validations, and long-term relationships with global Tier-1 retailers.
Competitive Moat
Moat is built on 30+ years of promoter experience, long-standing (20+ year) relationships with global retail giants like IKEA, and a diversified product portfolio where no single product exceeds 15% of the IKEA exposure.
Macro Economic Sensitivity
Highly sensitive to global crude oil prices due to polymer dependency and international trade policies (e.g., US tariffs).
Consumer Behavior
Increasing demand for B2C products and sustainable alternatives (Bamboo) is driving the company's shift in product mix and capacity allocation.
Geopolitical Risks
US tariffs recently impacted gross margins by 0.2%. Global demand shifts and international market weakness (US/Europe) impacted Q2 FY26 performance.
Regulatory & Governance
Industry Regulations
Operations must comply with manufacturing standards and quality validations required by international clients like IKEA and Walmart.
Taxation Policy Impact
Effective tax rate for FY25 was approximately 26.3% (INR 16.9 Cr tax on INR 64.2 Cr PBT).
Risk Analysis
Key Uncertainties
The primary uncertainty is the successful ramp-up of new capacity at Manekpur and Guwahati to absorb fixed costs, which currently impact EBITDA by over 8% YoY.
Geographic Concentration Risk
90% of revenue is derived from export markets, making the company vulnerable to international economic downturns and trade barriers.
Third Party Dependencies
High dependency on IKEA (58% of revenue) creates a significant counterparty risk if the client changes its sourcing strategy.
Technology Obsolescence Risk
The company is addressing potential obsolescence by investing in new material technologies like Bamboo and expanding injection moulding capabilities.
Credit & Counterparty Risk
Receivables are managed efficiently with a 35-day debtor cycle and a 60-day credit period offered to customers, indicating high-quality receivables.