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All Time Plastics Q3 FY26: PAT Doubles QoQ to ₹9.2 Cr; Revenue Up 8.1% to ₹159 Cr
All Time Plastics reported a strong sequential recovery in Q3 FY26, with revenue growing 8.1% QoQ to ₹159.3 crores and PAT surging 117% QoQ to ₹9.2 crores. While YoY profitability declined due to expansion-related fixed costs and a ₹4.4 crore exceptional labor code provision, margins showed significant improvement with EBITDA margin rising to 14.7% from 11% in Q2. The company is aggressively expanding its Khatalwada facility, targeting a total capacity of 52,500 MT by FY27 to capitalize on the China-plus-one strategy. Exports remain the primary driver, contributing nearly 84% of total revenue.
Key Highlights
Revenue grew 8.1% QoQ to ₹159.3 crores, driven by improved order traction in core export markets like Europe and the US.
EBITDA increased 44.3% sequentially to ₹23.5 crores, reflecting strong operating leverage as new capacity begins to absorb fixed costs.
Total installed capacity reached 39,000 MT as of Dec 2025, with a target of 52,500 MT by FY27.
Profitability was impacted by a one-time exceptional provision of ₹4.4 crores related to the implementation of the new labor code.
Exports continue to dominate the mix at 83.9% of revenue, with Europe accounting for approximately 60% of total sales.
💼 Action for Investors
Investors should monitor the ramp-up of the Khatalwada facility and the impact of potential EU Free Trade Agreements on export competitiveness. The strong sequential margin recovery suggests that the peak of expansion-related cost pressures may have passed.
All Time Plastics Highlights 39,000 MT Capacity and Bamboo Expansion in Investor Update
All Time Plastics (ATPL) reported an annual installed capacity of 39,000 tonnes with a 76.6% utilization rate for the nine months ending December 2025. The company is diversifying its portfolio by entering the engineered bamboo segment through a pilot facility in Guwahati and a strategic MoU with NECBDC. ATPL continues to leverage its 'China+1' advantage, exporting to 29 countries while maintaining energy-neutral operations. The presentation underscores a strong focus on high-volume, automated manufacturing and sustainable material usage.
Key Highlights
Total annual installed capacity reached 39,000 tonnes following a 2,000 MT expansion at the Khatalwada plant in December 2025.
Capacity utilization stood at 76.6% for 9MFY26, with 21,244 MT of polymers processed during the period.
The company operates 169 injection moulding machines, with 76% being energy-efficient all-electric models.
Strategic entry into the bamboo consumerware market via a pilot facility in Guwahati and a partnership with NECBDC.
Maintains 100% energy-neutral manufacturing facilities with over 25% of products made from recycled plastics in FY25.
💼 Action for Investors
Investors should monitor the ramp-up of the Khatalwada facility and the commercial viability of the new bamboo-based product line. The company's focus on recycled materials and energy neutrality positions it well for ESG-conscious global retail contracts.
All Time Plastics Q3 Revenue Up 7% YoY; Announces ₹10 Cr Investment in Bamboo Products
All Time Plastics reported a 7.1% YoY increase in consolidated revenue to ₹159.40 crore for Q3 FY26. Net profit for the quarter declined by 23.6% YoY to ₹9.17 crore, primarily due to a one-time exceptional item of ₹4.37 crore related to IPO expenses. A significant strategic update includes the commencement of commercial production for bamboo-based products, supported by a newly approved investment of ₹10 crore. Despite the YoY profit dip, the company showed strong sequential growth with PAT rising 124% compared to Q2 FY26.
Key Highlights
Revenue from operations increased to ₹159.40 crore in Q3 FY26 from ₹148.82 crore in Q3 FY25.
Net Profit (PAT) stood at ₹9.17 crore, impacted by a ₹4.37 crore exceptional listing-related expense.
Board approved a fresh investment of ₹10 crore for the expansion into bamboo-based product manufacturing.
Nine-month (9M FY26) revenue grew to ₹464.78 crore, up from ₹409.92 crore in the previous year.
Finance costs for 9M FY26 rose to ₹12.91 crore compared to ₹10.15 crore in 9M FY25.
💼 Action for Investors
Investors should look past the one-time IPO-related hit to profitability and focus on the company's diversification into sustainable bamboo products. Monitor the margin profile in upcoming quarters to see if the new bamboo segment can offset rising material and finance costs.
All Time Plastics Amends JV Agreement to Enable Direct Overseas Sales for Specific Customers
All Time Plastics Limited has modified its Joint Venture (JV) agreement with Dragon Bridge Pte. Limited and its Singapore-based subsidiary. Under the revised terms, the company is no longer mandated to route all new overseas sales through the JV entity. Specifically, for customers where Dragon Bridge did not play a material marketing role, All Time Plastics can now service them directly at its sole discretion. This strategic shift allows the company to maintain better control over its international client relationships and potentially improve profit margins by avoiding JV-related profit sharing for those accounts.
Key Highlights
Amendment to the Joint Venture Agreement originally signed on December 27, 2024.
Removes the mandate to route all new international sales through the Singapore JV entity, All Time Plastics Pte. Limited.
Grants the company sole discretion to service customers directly if the partner's marketing role was not material.
The change aims to streamline international operations and potentially enhance margins on direct exports.
💼 Action for Investors
This move increases operational flexibility for the company's export business and could lead to better margin retention. Investors should monitor the growth of direct international sales in future quarterly reports.
All Time Plastics Signs MoU with NECBDC for Engineered Bamboo Development
All Time Plastics Limited (ATPL) has entered into a 3-year non-binding Memorandum of Understanding with the North East Cane and Bamboo Development Council (NECBDC). As a Product and Market Development Partner, ATPL will support the development of engineered bamboo boards and panels in Assam and Nagaland. This initiative leverages ATPL's 37,000 MTPA manufacturing capacity and its export network across 29 countries to create sustainable product lines. The partnership aims to integrate North Eastern bamboo clusters into global supply chains, aligning with the company's material diversification strategy.
Key Highlights
3-year MoU signed with NECBDC under the Ministry of Development of North Eastern Region
ATPL empanelled as a Product and Market Development Partner for engineered bamboo initiatives
Initial focus on ecosystem-level interventions in Assam and Nagaland for product prototyping and manufacturing
Leverages ATPL's existing infrastructure, including a 37,000 MTPA capacity and exports to 29 countries
The collaboration targets high-value structural applications and export-oriented bamboo ecosystems
💼 Action for Investors
Investors should monitor how this MoU translates into definitive commercial agreements and revenue contributions. The focus on sustainable materials could enhance ATPL's ESG profile and appeal to global retailers like IKEA and Tesco.