All Time Plastics, one of India’s leading plastic household product manufacturers, has secured a significant investment of Rs 100 crore from Sunil Singhania-led Abakkus Asset Manager in its pre-IPO funding round, reflecting strong market confidence in its growth story ahead of the planned public listing.
Investment Details and Strategic Purpose
The Rs 100 crore investment by Abakkus is structured as a primary capital infusion, aimed at strengthening the company’s balance sheet, funding future expansion, and positioning it favourably in the highly competitive consumer goods manufacturing sector.
Key highlights of the investment round include:
- Investor: Abakkus Asset Manager LLP, led by veteran investor Sunil Singhania
- Investment Amount: Rs 100 crore
- Type of Transaction: Primary equity infusion as pre-IPO investment
- Objective: Enhance manufacturing capacity, expand product innovation pipelines, repay part of existing debt, and prepare for IPO compliance and brand positioning
Company insiders indicate that All Time Plastics is targeting to file its draft red herring prospectus (DRHP) with SEBI in the next few months, aiming to raise additional funds via the IPO to fuel its long-term growth ambitions.
About All Time Plastics
Founded over four decades ago, All Time Plastics is a renowned household plastic products manufacturer, supplying items like storage containers, kitchenware, bathroom accessories, utility products, and industrial-grade packaging solutions.
Key operational strengths:
- Pan-India and Export Presence: Products sold in 50,000+ retail outlets and exported to over 30 countries, including the US, UK, and Australia.
- Manufacturing Footprint: Three advanced manufacturing plants with automated processes and sustainability-focused operations.
- Product Portfolio: Over 500 SKUs across household, institutional, and industrial segments.
Financial Performance At A Glance
| Metric | FY21 | FY22 | FY23 |
|---|---|---|---|
| Revenue | ₹432 crore | ₹528 crore | ₹607 crore |
| EBITDA | ₹62 crore | ₹71 crore | ₹85 crore |
| Net Profit | ₹31 crore | ₹37 crore | ₹46 crore |
| EBITDA Margin | 14.3% | 13.4% | 14.0% |
The company has reported a consistent CAGR of 18% in revenues over the last three years, driven by expansion in export orders, strong domestic demand, and widening product categories. Its healthy margins and net profit growth underscore operational efficiency and brand value.
Why Is Abakkus Investing?
Sunil Singhania’s Abakkus is known for its focus on scalable midcap and smallcap companies with strong corporate governance, high ROCE (Return on Capital Employed), and potential to tap large market opportunities.
The investment rationale includes:
- Household Consumption Theme
- Rising demand for branded, hygienic, and durable plastic household products in urban and rural India.
- Shift from unorganised to organised players due to quality, design, and regulatory compliance.
- Export Growth Potential
- All Time Plastics is a preferred supplier to large global retail chains, e-commerce marketplaces, and institutional clients, with export revenues contributing ~38% of total sales.
- Strong Management & Governance
- The family-led professional management team has decades of experience in manufacturing, design innovation, and international business compliance.
- IPO Upside Potential
- Pre-IPO investment offers an attractive entry valuation, with potential value unlocking post-listing as the company enters public market scrutiny and access to cheaper capital for future expansions.
Upcoming IPO Plans
Market sources suggest All Time Plastics is planning an IPO worth ₹500-600 crore by early 2026, subject to market conditions and regulatory approvals. The proposed utilisation of IPO proceeds includes:
- Establishing a new manufacturing unit in western India to cater to rising domestic and export demand
- Expansion of recycling and sustainable plastics vertical, aligning with global ESG compliance
- Strengthening distribution and branding initiatives to penetrate tier-2 and tier-3 markets
- Prepayment of debt to improve leverage ratios and enhance profitability
Industry Outlook
The Indian plastic products industry is projected to grow at a CAGR of 10-12% over the next five years, driven by:
- Rising disposable incomes and urbanisation
- Increasing use of plastics in FMCG, industrial packaging, and organised retail
- Export market opportunities due to competitive manufacturing costs and free trade agreements
However, the sector continues to face challenges around:
- Volatility in raw material (polymer) prices due to global crude fluctuations
- Environmental regulatory risks with increasing policy push towards biodegradable and recycled materials
All Time Plastics has responded to this by investing in R&D for sustainable plastics and recycling capabilities to future-proof its business.
Market Expert Opinions
- Positive View: Analysts believe Abakkus’ investment validates the company’s scalable business model and competitive strengths. Post-IPO, All Time Plastics could emerge as a high-quality listed play on India’s consumption and export manufacturing story.
- Cautionary View: Some experts advise close monitoring of IPO valuations, profitability trajectory amidst raw material inflation, and execution of expansion plans without over-leverage.
Leadership Comment
A senior official at All Time Plastics stated:
“We are delighted to partner with Abakkus, which brings deep market understanding and strategic guidance. This investment will help us strengthen manufacturing capabilities, enhance our global footprint, and prepare us for the upcoming IPO with a strong balance sheet.”
Conclusion
The Rs 100 crore pre-IPO investment by Sunil Singhania-backed Abakkus Capital positions All Time Plastics for a robust listing journey ahead. With a strong track record, growing export revenues, and plans to invest in sustainable product lines, the company is poised to leverage India’s rising consumer aspirations and global manufacturing competitiveness.
However, for IPO-bound companies, investor focus will remain on consistent earnings growth, capital efficiency, and ESG compliance as the market navigates an environment of valuation sensitivity and macroeconomic shifts.
Disclaimer: This news content is purely for informational purposes. Readers and investors are advised to conduct their own due diligence or consult their financial advisor before making any investment decisions related to pre-IPO or listed securities.
