Subscribe for All Time Plastics Ltd IPO; Anand Rathi

Anand Rathi, has come out with its report on All Time Plastics Ltd. The research firm has recommended to “ Subscribe” the ipo in its research report as on August 06, 2025.

Broker Research

August 06, 2025 / 14:10 IST

IPO

Anand Rathi, All Time Plastics Ltd

All Time Plastics Ltd is a manufacturing company with 14 years of experience in producing plastic consumer ware products for everyday household needs. They primarily produce consumer ware for customers to market under their own brand names (i.e., on a business-to-business (“B2B”) basis), which is known as white-label manufacturing. However, they also sell their consumer ware products under their proprietary brand name (“All Time Branded Products”) (i.e., on a business-to-consumer (“B2C”) basis). As at March 31, 2025, they had 1,848 stock-keeping units (“SKUs”) across eight categories: Prep Time (kitchen tools for preparing cooking ingredients); Containers (food storage containers); Organization (miscellaneous storage containers); Hangers (various types of hangers); Meal Time (kitchenware); Cleaning Time (cleaning equipment); Bath Time (bathroom products); and Junior (childfriendly tableware, cutlery and other items). Company have longstanding relationships with global retailers, including IKEA, Asda Stores Limited, trading as Asda (“Asda”), Michaels Stores, Inc., trading as Michaels (“Michaels”), and Tesco Plc (“Tesco”). Further, they also sell their products to Indian retailers, including Spencer’s Retail Limited, among others. The company and Pyramid Plastics, the entity whose business/operational assets were acquired by the company, have been selling products to IKEA, their largest customer in Fiscal 2025, for more than 27 fiscal years; Asda, their second largest customer in Fiscal 2025, for more than 14 fiscal years; Michaels, their third largest customer in Fiscal 2025, for more than four fiscal years; and Tesco, their fourth largest customer in Fiscal 2025, for more than 17 fiscal years.

Valuation and Outlook

We believe that the IPO is fully priced and recommend a “SubscribeLong Term” rating to the IPO.

For all IPO report, click here