All Time Plastics Ltd Hits All-Time Low Amidst Prolonged Downtrend

Stock Performance and Market Context

On the day of the decline, All Time Plastics Ltd’s stock price fell by 3.18%, underperforming the Sensex which dropped 1.08%. The stock also underperformed its sector by 2.35%, signalling relative weakness within its industry group. Intraday, the share price touched a low of Rs.205, down 4.12% from the previous close, establishing a new 52-week and all-time low.

The stock’s current price is nearly 38.17% below its 52-week high of Rs.334.80, highlighting the extent of the recent correction. It is trading below all key moving averages including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, reinforcing the prevailing mild bearish technical trend. Immediate support is now at Rs.205, with resistance levels at Rs.239.26 (20-day moving average) and Rs.261.48 (100-day moving average).

Over the past month, the stock has declined by 21.10%, more than double the Sensex’s 9.13% fall. The three-month performance shows a similar pattern with a 22.72% drop versus the Sensex’s 10.83%. Year-to-date, the stock is down 21.81%, again underperforming the broader market’s 10.78% decline. Longer-term returns remain flat, with zero growth over one, three, five, and ten-year periods, while the Sensex has delivered gains of 2.71%, 28.58%, 49.70%, and 207.61% respectively over these durations.

Financial and Valuation Overview

Despite the recent price weakness, All Time Plastics Ltd maintains a Hold rating with a Mojo Score of 50.0, upgraded from a previous Sell rating on 9 Mar 2026. The company’s market capitalisation classifies it as a small-cap stock within its sector.

Financial metrics reveal a mixed picture. The company’s return on capital employed (ROCE) stands at a robust 21.36%, indicating efficient use of capital. Return on equity (ROE) is moderate at 8%, and the price-to-book value ratio is 2.3, suggesting an attractive valuation relative to book value. The price-to-earnings ratio (TTM) is 29x, with an enterprise value to EBITDA multiple of 12.58x, reflecting moderate valuation multiples for the sector.

Profitability trends show some softness. While profits have risen by 6% over the past year, the latest six-month profit after tax (PAT) of Rs.16.47 crores has declined by 35.23%. Quarterly PAT for the latest period was Rs.12.38 crores, showing a 28.3% growth compared to the previous four-quarter average, but this has not translated into sustained upward momentum.

Net sales have grown at an annualised rate of 12.20% over the last five years, which is considered below average for the sector. The company reported flat results in December 2025, indicating a pause in growth momentum.

Institutional Participation and Quality Assessment

Institutional investors currently hold 13.37% of the company’s shares, having reduced their stake by 0.95% over the previous quarter. This decline in institutional participation may reflect a cautious stance given the recent performance trends. Institutional investors typically possess greater resources to analyse company fundamentals, and their reduced involvement is notable.

Quality assessments rate All Time Plastics Ltd as a good quality company based on long-term financial performance. Management risk is considered good, capital structure average, and growth below average. The company maintains a low debt profile with an average debt to EBITDA ratio of 1.76 and moderate leverage with net debt to equity of 0.69. Sales to capital employed ratio is 0.98x, and the tax ratio stands at 26.34%. No promoter share pledging is reported.

Long-term growth indicators show a sales CAGR of 12.20% and EBIT growth of 21.19% over five years. However, the average EBIT to interest coverage ratio is 4.24x, which is relatively weak. Return on capital employed averages 15.99%, and return on equity averages 19.71%, both considered good within the sector context.

Technical Analysis and Trading Volumes

The overall technical trend for All Time Plastics Ltd is mildly bearish. Key technical indicators such as Bollinger Bands and Dow Theory signal bearish momentum on weekly and monthly timeframes. The relative strength index (RSI) currently shows no clear signal, while on-balance volume (OBV) is mildly bearish on a weekly basis.

Immediate support is firmly established at the 52-week low of Rs.205, with resistance levels at Rs.239.26 and Rs.261.48. The stock’s delivery volumes have shown a recent increase, with a 1-day delivery change of 74.54% compared to the 5-day average, and a 1-month delivery volume increase of 4.29%. The trailing one-month average delivery volume stands at 62.8 thousand shares, up from 60.22 thousand in the previous month, indicating some trading interest despite the price decline.

Summary of Key Metrics

As of 12 Mar 2026, All Time Plastics Ltd’s valuation multiples include a P/E ratio of 29x, EV/EBITDA of 12.58x, and price-to-book value of 2.28x. Dividend metrics are not available, with no recent dividend payout reported. The company’s market cap grade remains small-cap, and the Mojo Grade is Hold, reflecting a neutral stance based on current fundamentals and market conditions.

The stock’s flat long-term returns contrast with the Sensex’s strong gains over the past decade, underscoring the company’s subdued growth trajectory. While management efficiency remains high, as evidenced by a ROCE of 21.36%, the company faces headwinds in sales growth and profitability trends.

Overall, the stock’s fall to an all-time low of Rs.205 marks a significant event in its trading history, reflecting a combination of valuation pressures, subdued growth, and cautious institutional participation.

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