All Time Plastics IPO

Established in 1971, All Time Plastics Limited (ATPL) is an Indian manufacturer specializing in plastic houseware products. The company primarily caters to B2B clients through white-label manufacturing for major global retailers such as IKEA, Asda, Michaels, and Tesco. In addition to its B2B operations, ATPL markets products under its own brand, “All Time Branded Products,” to B2C customers. As of March 31, 2025, ATPL offered 1,848 stock-keeping units (SKUs) across eight categories: Prep Time, Containers, Organization, Hangers, Meal Time, Cleaning Time, Bath Time, and Junior. Products in these categories include kitchen tools, storage containers, hangers, cleaning equipment, and child-friendly tableware.

In Fiscal 2025, ATPL distributed its branded products through 22 modern trade retailers, including Spencer’s Retail Limited, five super distributors, and 38 direct distributors across 23 states and six union territories in India. The company’s workforce included 690 employees and 1,589 contract laborers as of March 31, 2025. The company’s broad product portfolio features items like chopping boards, strainers, mixing bowls, lock-and-safe containers, hangers, bins, and dish drainers, supporting both domestic and international demand.

All Time Plastics IPO Strengths

• All Time Plastics is India’s second-largest manufacturer of plastic consumer ware by revenue and a major exporter, supplying to over 25 countries and top retailers worldwide.
• With over 50 years of legacy and more than 13 years under current operations, the company is backed by experienced promoters and deep industry understanding, enhancing reliability and trust.
• The company offers 1,608 SKUs across eight major categories, serving diverse needs in homeware, kitchenware, storage, baby care, and tableware for both private label and branded segments.
• All Time Plastics maintains long-standing relationships with prominent international retailers like IKEA (over 26 years), Asda, Michaels, and Tesco, as well as key domestic retail chains.
• The company uses an in-house product and mould design team to launch new products, keeping up with market trends and enhancing customization for retailer partners.
• Manufacturing plants are located in western India, close to ports and petrochemical hubs, which reduces logistics costs, expedites exports and imports, and gives a strategic edge in raw material procurement and product distribution.

All Time Plastics IPO Risks

• The cost of plastics and petrochemical inputs is closely tied to global crude prices. Any sharp rise may compress margins, as passing on costs to customers isn’t always possible in highly competitive segments.
• Over 90% of FY25 revenue comes from contractual white-label manufacturing. This segment is vulnerable to customer renegotiations, contract non-renewals, or strategic shifts by partners.
• The plastic houseware segment faces tough competition from both organized and unorganized players domestically and internationally, which can drive pricing pressures and impact profitability.
• A substantial portion of sales is export-driven. Currency fluctuations can affect realized revenue and profits, and hedging strategies may not always fully protect against sharp changes.
• Changes in domestic or global plastic regulations or restrictions (e.g., bans on single-use plastics or changes in trade tariffs) could affect product mix, operational costs, and market access.
• The need to maintain large inventories for diverse SKUs and global clients creates high working capital requirements. Inefficiencies can strain liquidity or result in obsolete stock.