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IPO Details
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Issue Highlights
Initial public offering of up to [] equity shares of face value of Rs. 2 each (equity shares) of All Time Plastics Limited (company or issuer) for cash at a price of Rs. [] per equity share (including a share premium of Rs. [] per equity share) (offer price) aggregating up to [] crores (offer) comprising a fresh issue of up to [] equity shares of face value Rs. 2 each by the company aggregating up to Rs. 350.00 crores (fresh issue) and an offer for sale of up to 5,250,000 equity shares aggregating up to Rs. [] crores, by the selling shareholders (as defined hereinafter) (offer for sale). This offer includes a reservation of up to [] equity shares of face value Rs. 2 each (constituting up to []% of the post-offer paid-up equity share capital) for purchase by eligible employees (the employee reservation portion). The offer less the employee reservation portion is hereinafter referred to as the net offer. The offer and the net offer would constitute []% and []%, respectively, of the post-offer paid-up equity share capital. The company in consultation with the brlms, may offer a discount of up to []% (equivalent to Rs. [] per equity share) to the offer price to eligible employees bidding in the employee reservation portion (employee discount). A private placement, rights issue, preferential offer or any other method of specified securities as may be permitted under applicable laws, may be undertaken by the company, in consultation with the brlms, to any person, for an aggregate amount not exceeding Rs. 70.00 crores (pre-ipo placement). The pre -ipo placement, if undertaken, will be at a price to be decided by the company in consultation with the brlms and will be completed with the roc. If the pre-ipo placement is undertaken, the amount raised from the pre-ipo placement will be reduced from the fresh issue, subject to the offer complying with rule 19(2)(b) of the securities contracts (regulation) rules, 1957, as amended (scrr). The pre-ipo placement, if undertaken, shall not exceed 20% of the fresh issue. Prior to the completion of the offer, the company shall appropriately intimate the subscribers to the pre-ipo placement, prior to allotment pursuant to the pre-ipo placement, that there is no guarantee that the company may proceed with the offer or the offer may be successful and will result into listing of the equity shares of face value Rs. 2 each on the stock exchanges. Further, relevant disclosures in relation to such intimation to the subscribers to the pre-ipo placement (if undertaken) shall be appropriately made in the relevant sections of the red herring prospectus and prospectus. The price band, the minimum bid lot and the employee discount, if any, will be decided by the company.
About All Time Plastics
All Time Plastics Limited is a manufacturer that has been producing plastic consumerware products for the past 13 years. For Fiscal 2023, they are the second largest company in terms of revenue from operations among plastic consumer ware products manufacturers in India. Primarily engaged in white-label manufacturing, All Time Plastics manufactures products for its customers to sell under their own trademark. It also sells its own brand of products.
All Time Plastics Business Model
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Plastic consumerware white-label manufacturing: All Time Plastics mainly produces for other brands to sell.
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Time Products for Sale: The firm additionally markets a line of its very own customer ware.
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Exports: All Time Plastics exported ~USD 57 million worth of products during FY 2024
All Time Plastics Growth Trajectory
Topline of All Time Plastics grew from ₹ 4,011.52 million for Fiscal 2022 to ₹5,128.53 million for Fiscal 2024 growing at a CAGR (Calculated on basis of FY22 –FY24) of approx. 13.07%.
Key Points of All Time Plastics IPO
Objectives of the IPO
- To prepay or repay certain of its outstanding borrowings.
- Acquisition of the Manekpur Facility equipment and machinery.
- General corporate purposes.
Potential Benefits for Investors:
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Financial Profile: All Time Plastics has delivered a steadily growing financial profile over the years displaying an operating revenue growth of 13.07% CAGR between Fiscal 2022 to 2024.
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Promoters having years of experience: Management comprises of promoters, who have experience in manufacturing plastic consumerware.
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Invests in a Growing Market: The global plastic houseware market is expected to register substantial growth allowing investors to capitalize on this uptrend.
Key Financials
Presentation of key financial metrics and indicators to assess All Time Plastics IPO financial health.
| Particulars | Fiscal 2024 | Fiscal 2023 | Fiscal 2022 |
|---|---|---|---|
Revenue from Operations | 5,129 | 4,435 | 4,012 |
(Total Equity and Liabilities) | 4,155 | 4,005 | 3,562 |
Return on Net Worth (%) | 22 | 18 | 19 |
All Financial Information about All Time Plastics IPO
Comprehensive financial data, including revenue, profit/loss statements, EBITDA, and other critical metrics.
Particulars (in Rs. million)
Particulars (in Rs. million)
Promoters of All Time Plastics IPO
| Name of the Promoter | Designation |
|---|---|
Kailesh Punamchand Shah | Managing Director and Chief Executive Officer |
Bhupesh Punamchand Shah | Whole-time Director |
Nilesh Punamchand Shah | Whole-time Director |
Peers Comparison
| Company | Face Value (₹) | Price to Earnings | EPS (Basic) (₹ per share) | EPS (Diluted) (₹ per share) | Return on Net Worth (%) | NAV per share (₹ per share) | Revenue from operations for Fiscal 2024 (₹ in millions) |
|---|---|---|---|---|---|---|---|
All Time Plastics Limited | 2 | 9 | 8.53 | 22.18 | 38.46 | 5,128.53 | |
Shaily Engineering Plastics | 2 | 83 | 12 | 12.49 | 12.48 | 100.11 | 6,438.71 |
All Time Plastics Limited IPO Strengths
Established Position in Market
All Time Plastics is the 2nd largest B2B manufacturer of plastic consumerware in India which means it has an established presence and a good share of the market It puts them in a strong position to build from.
Export-oriented
A large part of company's income comes from abroad, using and taking advantage of the demand for plastic houseware goods in external markets. It gives them diverse streams of profit and makes sure they are not overly dependent on the domestic market.
Established and Long-Lasting Relationships with Customers
All Time Plastics has developed stable relationships in medium/big customers, some of which are over 20 years. Such long-standing relationships are proof of customer loyalty and the ability of a company to adapt.
All Time Plastics IPO Risk Factors
- High customer concentration: The top four customers of All Time Plastics, especially IKEA, contribute a significant portion of the business. If any of these customers stop buying, it makes them vulnerable.
- Increased Exposure to Raw Material price fluctuations: Volatility in the price of polymers can impact the company’s profitability;
- Competitors: It competes with international and national players in the consumer ware segment. This would mean pressure on price and lowered market share.
Key Strategies of All Time Plastics
Although the sources do not straightforwardly enumerate top-level strategies, they nevertheless emphasize elements around which key strategies can be inferred:
- Increasing Manufacturing Capacity - To cater for more products or customers, All Time Plastics is setting a new manufacturing plant in Manekpur
- Strengthening Export Presence: Given the company's considerable export share, it is likely to maintain its focus on foreign markets by utilizing its divisional expertise to enhance global reach and cater to expanding developing demand in pivotal regions.
- Improve Operational Efficiency: According to All Time Plastics, KPI is a tool that can help you keep an eye on operational efficiency and also find out how to improve it. This is a fundamental strategy on data-driven, process optimization, cost reduction and performance improvement.
