All Time Plastics profit drops 25% on labour charges and cost pressure
Revenue climbed 9.4% to ₹610.5 cr, but rising costs and an exceptional hit left the bottom line at ₹35.4 cr.
What's new
- Net profit fell to ₹35.4 cr after a ₹4.37 cr exceptional charge from new labour codes.
- The board skipped a dividend to conserve capital.
- Earnings per share dropped to ₹5.79 from ₹9.01 in the prior year.
Why it matters
Top-line growth has decoupled from the bottom line, leaving margins squeezed by exceptional items and rising operational costs. The decision to skip dividends sends a clear signal that the company prioritizes liquidity over shareholder returns in the current climate.
What we're watching
- Whether the labour code charges represent a one-off or a permanent step-up in costs.
- Management commentary on restoring margins in FY27.
- Any recovery in earnings-per-share metrics.
The full read
All Time Plastics closed FY26 with a disconnect between scale and profitability. While revenue grew 9.4% to ₹610.5 crore, the company’s consolidated net profit fell 25% to ₹35.4 crore. A ₹4.37 crore charge tied to new labour codes contributed to the decline, but the impact was deep enough to drag earnings per share down to ₹5.79 from ₹9.01 last year. The board chose to conserve resources rather than pay a dividend. For investors, the concern isn't just the profit drop — it is the fact that the company’s capital allocation has shifted toward preservation. With the auditor issuing an unmodified opinion, the accounting is clean. The challenge for All Time Plastics now is whether it can expand its top line without continuing to hemorrhage profitability.