All Time Plastics, a manufacturer of consumer goods, has filed preliminary documents with SEBI, the regulatory body, on September 30. The company intends to use the filings to raise capital through an IPO.
The IPO combines the company's new equity share issuance of up to Rs 350 crore with the existing shareholders' offer to sell their 52.5 lakh equity shares.
The offer for sale will see the three promoters, Kailesh Punamchand Shah, Bhupesh Punamchand Shah, and Nilesh Punamchand Shah, selling 17.5 lakh shares apiece.
Possible private placement
The company has the option to raise an additional Rs 70 crore through pre-IPO placement prior to submitting the red herring prospectus to the Registrar of Companies.
In the event that it raises funds through pre-IPO placement (private placement), the aforementioned sum will be subtracted from the fresh issue component.
Financials of the company
Strong operating margin performance drove a 58.4 per cent YoY increase in net profit for the year ended March 2024, reaching Rs 44.8 crore.
The previous fiscal saw a 32.3 per cent increase in EBITDA (earnings before interest, tax, depreciation, and amortisation) to Rs 97.1 crore and a 240 basis point increase in margin to 18.9 per cent.
In comparison to the previous year, revenue from operations in the fiscal year 2024 increased by 15.6 per cent to Rs 512.85 crore.
Company offerings
The Maharashtra-based company also markets its consumerware products under the 'alltime' brand, and it is a competitor of only listed peer Shaily Engineering Plastics.
In FY24, it had 1,608 stock-keeping units (SKUs) in eight categories: kitchenware, hangers, food storage containers, cleaning supplies, and bathroom items.
All Time Plastics, which has factories in Daman and Silvassa, derived 70% of its revenue from its top two product categories: food storage containers and kitchen tools.
