365Telugu.com online news,October 4th,2024:All Time Plastics Limited has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI). The company aims to raise funds through a fresh issue of equity shares totaling up to ₹350 crore, along with an Offer For Sale (OFS) of up to 5.25 million equity shares.
The net proceeds from the offering will be utilized for the following purposes: (i) prepayment or repayment of a portion of the company’s outstanding borrowings amounting to ₹120 crore, (ii) purchasing equipment and machinery for the upcoming Manekpur facility, which will cost approximately ₹133.73 crore, and (iii) for general corporate purposes.
All Time Plastics is the second-largest B2B participant in India’s plastic consumerware industry by revenue for the fiscal year 2023, according to a Technopak report. With over 13 years of experience in creating plastic consumer goods for household use, the company offers a diverse product range. As of March 31, 2024, it had 1,608 stock-keeping units (SKUs) across eight categories, including Prep Time (kitchen tools), Containers (food storage), Organization (storage solutions), Hangers (various types), Meal Time (kitchenware), Cleaning Time (cleaning equipment), Bath Time (bathroom products), and Junior (child-friendly tableware and cutlery).
The company has established a strong reputation in white-label manufacturing, producing high-quality products for clients who market them under their own brands. Additionally, it promotes its proprietary brand, “All Time.” All Time Plastics has a significant presence in international markets, including the European Union, the United Kingdom, and the United States, while collaborating with major domestic retailers and distributors like IKEA, Tesco, Asda, and Spencer’s Retail Limited.
In fiscal year 2024, the company reported revenue from operations of ₹512.853 crore, achieving a compound annual growth rate (CAGR) of 13.07% since fiscal year 2022. Its EBITDA rose to ₹97.10 crore, reflecting a CAGR of 29.53%, while profit surged to ₹44.79 crore, marking a CAGR of 35.11%. The company also received a CRISIL A-/Stable debt rating in April 2024, indicating its strong borrowing capacity.
All Time Plastics operates fully integrated manufacturing facilities in Daman, Silvassa, and is in the process of establishing a state-of-the-art facility in Manekpur, Gujarat. These facilities leverage advanced automation and sustainable practices, with over 20% of production utilizing recycled raw materials. With a legacy that dates back to 1971 and a leadership team with over 40 years of industry experience, the company is committed to driving innovation and growth in the global plastic consumerware market, projected to reach USD 37 billion by 2027, according to the Technopak report.
Intensive Fiscal Services Private Limited and DAM Capital Advisors Limited are serving as the Book Running Lead Managers (BRLMs) for the issue.
For further details, you can download the DRHP using the link below:https://www.damcapital.in/files/pdf/638633231813006103_All_Time_Plastics_Limited_-_DRHP.pdf