All Time Plastics Limited, a leading plastic injection molding company, has reported a 12.5% year-on-year growth in revenue for Q2 FY26, reaching INR 147.00 crores. The company's H1 FY26 revenue stood at INR 305.00 crores, marking a 17% growth compared to the same period last year. However, the company faced some margin pressures during the quarter.

Financial Performance

The company's gross margins declined from 39.27% in Q1 FY26 to 36.18% in Q2 FY26. This decrease was primarily attributed to changes in customer mix and a one-time sale of raw materials worth INR 3.30 crores. The EBITDA margins also saw some pressure due to increased fixed costs associated with capacity expansion.

Capacity Expansion and Utilization

All Time Plastics has expanded its production capacity to 37,000 metric tons. The company plans to further increase its capacity to 46,500 metric tons by the end of FY26, in line with its growth strategy. The current capacity utilization stands at 83% for Q2 FY26.

Market Diversification

The company is actively working on reducing its customer concentration and expanding its market presence:

1. Secured orders from new customers in Australia and Japan
2. Received approval for bamboo product trials from a large customer
3. Aims to increase domestic market share from 17% to 25%
4. Exploring opportunities in the US market, which currently accounts for 9-10% of revenue

Bamboo Product Line

All Time Plastics is making significant strides in its bamboo product line:

• Received approval for bamboo product trials from a major customer
• Secured trial orders to be shipped in the coming quarter
• Developing partnerships with farmers and cooperatives to ensure a steady supply chain
• Expects the bamboo business to become a substantial revenue contributor in the future

Future Outlook

While facing short-term margin pressures, All Time Plastics remains optimistic about its future growth prospects. The company is focusing on:

1. Ramping up new capacity utilization
2. Expanding its product portfolio, including silicone products and blow molding capabilities
3. Capitalizing on potential trade agreements, particularly with the EU, to gain a competitive edge
4. Balancing growth between domestic and international markets

Management expects margins to improve as capacity utilization increases and new product lines, including bamboo products, gain traction in the market.

As All Time Plastics navigates through the current challenges, its strategic initiatives in capacity expansion, market diversification, and new product development position the company for potential long-term growth in the competitive plasticware industry.

All Time Plastics Limited, a leading manufacturer of plastic-based articles, has announced its financial results for the second quarter of fiscal year 2026, showcasing impressive growth and strategic expansion.

Strong Financial Performance

The company reported a substantial increase in its consolidated revenue from operations, which surged to ₹14,740.38 crore in Q2 FY26, compared to ₹3,376.75 crore in the corresponding quarter of the previous year, marking a remarkable 4.3x growth. This significant revenue boost demonstrates the company's strong market position and effective growth strategies.

Profit and Profitability

Despite the substantial revenue growth, All Time Plastics experienced a slight dip in net profit, which stood at ₹4,217.74 crore for Q2 FY26, compared to ₹4,284.65 crore in the same period last year. This marginal decrease in profit amidst significant revenue growth may indicate increased operational costs or strategic investments for future growth.

Key Financial Highlights for Q2 FY26

Successful Initial Public Offering

A significant milestone for All Time Plastics was the completion of its Initial Public Offering (IPO) during the quarter. The company issued 14,570,760 equity shares at ₹275 per share, which included a fresh issue of 10,185,198 shares. The IPO raised funds for debt repayment, equipment purchase for the Manekpur facility, and general corporate purposes. The equity shares were listed on both the National Stock Exchange of India Limited (NSE) and BSE Limited on August 14, 2025.

Strategic Expansion

All Time Plastics incorporated All Time Bamboo Private Limited as a wholly-owned subsidiary during the quarter. This strategic initiative suggests the company's intent to explore sustainable alternatives and expand its market presence.

Conclusion

All Time Plastics Limited's Q2 FY26 results reflect a company in a strong growth phase, with significant revenue expansion and strategic initiatives underway. The successful IPO and the incorporation of a new subsidiary demonstrate the company's ambition and forward-looking approach. However, the slight dip in net profit amidst substantial revenue growth warrants attention and may be an area for the company to address in coming quarters.

Investors and market watchers will likely keep a close eye on how All Time Plastics leverages its recent capital raise and new ventures to drive sustainable growth and profitability in the competitive plastic manufacturing sector.