All Time Plastics IPO – complete overview

All Time Plastics Ltd is a consumerware manufacturing company based in India, specializing in plastic-based household products. With over 14 years of experience, it serves both global retail giants and the Indian domestic market through white-label manufacturing and its proprietary brand, “alltime”.

The company has built a strong reputation for producing high-volume, cost-efficient plastic products designed for daily use, backed by advanced tooling, in-house mould design, and integrated manufacturing facilities.

All Time Plastics IPO – Key Details

Use of IPO proceeds (Fresh Issue)

Note: Proceeds from the Offer for Sale (OFS) will go to the selling promoters and not the company.

Product portfolio

All Time Plastics offers products across eight consumerware categories:

• Prep Time – Tools and utensils for food preparation

• Containers – Plastic containers for food and household storage

• Organization – Storage boxes, baskets, and organizers

• Hangers – Assorted hanging solutions for clothes

• Meal Time – Dinnerware and serveware

• Cleaning Time – Plastic cleaning tools like bins, brushes

• Bath Time – Bathroom plasticware including stools, soap holders

• Junior – Child-friendly cups, bowls, plates, and cutlery

Business model

All Time Plastics operates on two fronts:

• B2B (White Label Manufacturing): Manufactures consumerware products for major global retailers who market them under their own brands.

• B2C (Retail Brand): Sells products under its own proprietary brand “alltime” through modern trade, distributors, and general trade in India.

Market presence

International

Approximately 85% of All Time Plastics’ FY25 revenue is derived from exports, with key markets including the European Union, United Kingdom, and United States. The company boasts long-standing relationships with several global retail giants, most notably IKEA, which alone accounts for around 59% of FY25 revenue. Other prominent clients include Asda Stores, Tesco, and Michaels Global Sourcing, highlighting the brand’s strong presence and credibility in international markets.

Domestic

In the domestic market, All Time Plastics drives sales through a combination of modern trade, general trade, and a network of super distributors across India. The company is actively expanding its brand presence under the “alltime” label, aiming to strengthen its footprint and visibility among Indian consumers.

Manufacturing capabilities

All Time Plastics operates three integrated manufacturing units at:

Manekpur, Gujarat

Silvassa, Dadra & Nagar Haveli

Daman, Daman & Diu

Key capabilities:

In-house tool and mould design

Automated storage & retrieval systems (ASRS)

High-volume automated production lines

Financial highlights (consolidated)

Risk factors

• Client Concentration: IKEA alone contributed ~59% of FY25 revenue

• No Long-Term Contracts: Most clients order via short-term POs

• Raw Material Dependency: Prices of plastic granules linked to crude oil volatility

• Plastic Regulatory Risk: Global and Indian policies may shift away from plastic usage

• Export Dependency: Heavy reliance on international markets exposes the company to forex and trade risks

• Offer for Sale Component: A large part of the IPO proceeds will go to existing shareholders

• Competitive Market: Faces competition from both organized and unorganized players in India and abroad

Pros:

• Established client base with marquee names like IKEA, Asda, Tesco

• Export-driven business model with high margins

• Automated, integrated manufacturing infrastructure

• Steady financial growth across revenue, profit, and margins

• High return ratios (ROE, ROCE)

• In-house product design and moulding capabilities

• Strong position in white-label plastic consumerware globally

• Plans to reduce debt through IPO proceeds

Cons:

• Overdependence on a few large clients

• Vulnerability to global anti-plastic regulations

• Volatility in raw material (plastic granules) prices

• Lack of long-term contracts or predictable order book

• Domestic retail brand “alltime” is still scaling

• Revenue heavily skewed toward exports (foreign exchange and geopolitical risks)

• Limited proceeds go toward business growth (due to OFS)

Promoters and shareholding

All three are participating in the Offer for Sale (OFS) portion of the IPO.

Conclusion

All Time Plastics Ltd operates in a specialized, high-volume segment of the plastic consumerware industry, backed by long-standing international clients, especially in the retail and houseware space. With a proven ability to execute high-volume orders and sustained export demand, the company has shown consistent financial performance over the last three years.

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