Company Overview

All Time Plastics Limited (BSE: 544479, NSE: ALLTIME) reported its FY26 financial results following its successful IPO completion in August 2025. The company submitted its Annual Report for FY 2025-26 to BSE and NSE pursuant to SEBI LODR Regulation 34(1), including notice for AGM on September 24, 2026.

Financial Performance

Consolidated Results (FY 2025-26):

  • Revenue from Operations: ₹61,052.88 lakhs (₹610.53 crores), up 9.4% from FY25 (₹55,816.73 lakhs)
  • EBITDA: ₹8,994 lakhs (₹89.94 crores), margin 14.7% (down from 18.2% in FY25)
  • Profit After Tax: ₹3,539.52 lakhs (₹35.40 crores), margin 5.8%
  • Earnings Per Share: ₹5.79 (basic and diluted)

Standalone Results:

  • Profit for the year: ₹355.98 crore (FY25: ₹472.98 crore)
  • Earnings per share: ₹5.83 (FY25: ₹9.01)

The company recognized one-time exceptional item of ₹4.37 crores for provisioning consequent to implementation of new labour codes.

IPO and Capital Structure

IPO Details:

  • Listing Date: August 14, 2025 on BSE and NSE
  • IPO Size: ₹400.60 crores (Fresh issue: ₹280 crores, Offer for sale: ₹120.60 crores)
  • Subscription: 8.63 times
  • Issue Price: ₹275 per share
  • Pre-IPO Placement: 28,22,580 equity shares at ₹248 per share to Abakkus Four2Eight Opportunities Fund

IPO Proceeds Utilization (as of March 31, 2026):

  • Total Funds Raised (Fresh Issue): ₹280 crores (gross), ₹257.11 crores (net after issue expenses)
  • Amount Utilized: ₹189.60 crores
  • Debt repayment: ₹143.00 crores
  • Capex (machinery and ASRS): ₹23.32 crores
  • General corporate purposes: ₹0.40 crores
  • Share issue expenses: ₹22.89 crores
  • Unutilized Amount: ₹90.40 crores, temporarily invested in fixed deposits

Operational Highlights

  • Installed Capacity: 39,000 tonnes per annum (increased from 33,000 tonnes in FY25)
  • Capacity Utilization: 67.4% (79.5% in FY25) due to new capacity addition ahead of volume ramp-up
  • Recycled Polymer Usage: 8,022 MT (30.5% of total consumption), up from 7,136 MT in FY25
  • Export Markets: 30 countries, with Europe (58%), UK (12%), and US (12%) as key markets
  • Domestic Revenue Share: 17% of total revenue

Manufacturing and Expansion

Facilities:

  • Daman Facility: 9,500 TPA capacity, 62.9% utilization
  • Silvassa Facility: 19,500 TPA capacity, 85.3% utilization
  • Khatalwada Facility: 10,000 TPA capacity, 56% utilization (pro-rata basis)
  • Total Injection Moulding Machines: 170 (140 in FY25)
  • All-Electric Machines: 76% of total machines as of March 31, 2026

Strategic Initiatives:

  • Expanded into bamboo products through subsidiary All Time Bamboo Private Limited
  • Established pilot facility in Guwahati, Assam for engineered bamboo products with 3,000 cubic metres capacity
  • Commissioned new Khatalwada facility, increasing installed capacity
  • Operationalized Tool Room at Khatalwada and in-house silicone gasket production

Financial Position and Ratios

Borrowings (Standalone):

  • Total borrowings: ₹803.09 crore (FY25: ₹2,185.12 crore)
  • Non-current borrowings: ₹558.59 crore (FY25: ₹1,017.57 crore)
  • Current borrowings: ₹244.50 crore (FY25: ₹1,167.55 crore)

Key Financial Ratios:

  • Current ratio: 3.60 times (FY25: 1.03 times)
  • Debt-equity ratio: 0.13 times (FY25: 0.88 times)
  • Return on equity ratio: 8.26% (FY25: 20.99%)
  • Net profit ratio: 5.83% (FY25: 8.47%)

Subsidiaries and Investments

  • All Time Bamboo Private Limited: Wholly-owned subsidiary incorporated on July 05, 2025 for bamboo products manufacturing
  • All Time Plastics Pte Limited: Singapore subsidiary (51% ownership) with revenue of SGD 97,907

Sustainability and CSR

  • Energy Neutral Facilities: 100% since 2022
  • Renewable Energy: 11.6% of total consumption (5,00,803 kWh generated)
  • Solar Capacity: 2.6 MWp across facilities
  • Zero Landfill Waste: Maintained throughout FY26
  • CSR Investment: ₹110 lakhs with ₹66.10 lakhs spent, ₹43.90 lakhs unspent

Credit Rating and Governance

  • Credit Rating: Upgraded to CRISIL A/Stable (from CRISIL A-/Positive)
  • Board Composition: 6 directors (3 executive, 3 independent including 1 woman independent director)
  • AGM: Scheduled for September 24, 2026 through VC/OAVM

Outlook

The company is focused on long-term growth through strategic capacity expansion to 52,500 MT, export market diversification, bamboo business scaling, and technology investments. It expects to benefit from 'China Plus One' sourcing trends and potential India-EU trade agreement, despite current margin pressures from expansion investments.