Latest news with #ATPL
Mint
6 days ago
- Business
- Mint
All Time Plastics IPO to open on Thursday: 10 key things to know from RHP before you subscribe to ₹401 crore issue
All Time Plastics IPO in focus: All Time Plastics initial public offering (IPO) is scheduled to kick off for subscription on Thursday, August 07, and will remain open until Monday, August 11. The company aims to raise ₹ 400.60 crore through the offering, which is a combination of a fresh issue of 1.02 crore shares aggregating to ₹ 280 crore and an offer for sale of 0.44 crore shares aggregating to ₹ 120.60 crore. The IPO price band is set at ₹ 260 to ₹ 275 per share. Retail investors can apply for a minimum of 54 shares in one lot and can apply for up to 13 lots. At the upper end of the IPO price band, ₹ 275 apiece, retail investors are required to make a minimum investment of ₹ 14,850 per lot. About the company: Established in 1971, All Time Plastics Limited (ATPL) is an Indian company specializing in the manufacturing of plastic houseware products. It primarily operates as a white-label manufacturer, producing consumerware for customers to market under their own brand names. Accounts for 26% of India's total plastic houseware exports: In FY2024, the company exported products worth approximately USD 57 million, representing around 26% of India's total plastic houseware exports, according to its RHP citing a Technopak Report. ATPL primarily exports its products to retailers in the European Union, the United Kingdom, and the United States. Domestically, it sells to modern trade retailers, super distributors (who sell to distributors), and distributors (who supply general trade stores). Diverse product portfolio with 1,600+ SKUs across eight categories: As of March 31, 2024, the company had 1,608 stock-keeping units (SKUs) across eight categories: Prep Time (kitchen tools for preparing ingredients), Containers (food storage containers), Organization (miscellaneous storage containers), Hangers (various types of hangers), Meal Time (kitchenware), Cleaning Time (cleaning equipment), Bath Time (bathroom products), and Junior (child-friendly tableware and cutlery). During FY2024, FY2023, and FY2022, ATPL launched 553, 609, and 414 new SKUs, respectively. Rapid growth in the plastic houseware market: The global plastic houseware market grew at a CAGR of approximately 4.6%, from USD 24.3 billion in 2019 to USD 27.8 billion in 2022. In 2023, the market was valued at around USD 29 billion and is projected to reach USD 37 billion by 2027, with a CAGR of about 6.3% between 2023 and 2027. This growth has been driven by the surge in online shopping—accelerated by the COVID-19 pandemic—as consumers increasingly opt for the convenience of purchasing houseware products online. Urbanization and the shift toward nuclear families have further supported this trend. Prep Time – largest revenue contributor: The Prep Time category, which includes chopping boards, strainers, mixing bowls, colanders, measuring tools, spatula and spreader sets, and orange squeezers, contributed 38.19% of total revenue in FY2024. Containers accounted for 32.87%, while Organization contributed 10.05%. IKEA remains the largest customer: In FY2024, ATPL exported products to 28 countries. The company has long-standing relationships with major global retailers, including IKEA, Asda Stores Limited (Asda), Michaels Stores Inc., and Tesco Plc. Domestically, its products are sold through retailers such as Spencer's Retail Limited. ATPL and its acquired entity, Pyramid Plastics, have been supplying IKEA—its largest customer—for over 26 fiscal years. Asda, its second-largest customer in FY2024, has been partnered for over 13 years, followed by Michaels (3 years) and Tesco (16 years). Financial performance: Revenue from operations increased from ₹ 4,011.52 million in FY2022 to ₹ 5,128.53 million in FY2024, a CAGR of 13.07%. EBITDA grew from ₹ 578.76 million to ₹ 971.01 million during the same period, reflecting a CAGR of 29.53%. Net profit rose from ₹ 245.35 million to ₹ 447.90 million, a CAGR of 35.11%. Key risks: The company is highly dependent on its top four customers, with the largest accounting for 60.36% of revenue in FY2024. Moreover, it does not have long-term sales agreements with most of its customers. ATPL derived 94.04%, 91.27%, and 89.73% of its revenue from its top five product categories in FY2024, FY2023, and FY2022, respectively. Objectives of the issue: The company intends to utilize the proceeds from the public issue primarily for the prepayment or repayment of certain outstanding borrowings, the purchase of equipment and machinery for its Manekpur facility, and for general corporate purposes aimed at supporting future growth and operational efficiency. Listing and allotment details: The allotment of shares is expected to be finalized on August 12, 2025, with a tentative listing on both the BSE and NSE scheduled for Thursday, August 14, 2025.
Mint
6 days ago
- Business
- Mint
All Time Plastics IPO to open on Thursday: 10 key things to know from RHP before you subscribe to ₹401 crore issue
All Time Plastics IPO in focus: All Time Plastics initial public offering (IPO) is scheduled to kick off for subscription on Thursday, August 07, and will remain open until Monday, August 11. The company aims to raise ₹ 400.60 crore through the offering, which is a combination of a fresh issue of 1.02 crore shares aggregating to ₹ 280 crore and an offer for sale of 0.44 crore shares aggregating to ₹ 120.60 crore. The IPO price band is set at ₹ 260 to ₹ 275 per share. Retail investors can apply for a minimum of 54 shares in one lot and can apply for up to 13 lots. At the upper end of the IPO price band, ₹ 275 apiece, retail investors are required to make a minimum investment of ₹ 14,850 per lot. About the company: Established in 1971, All Time Plastics Limited (ATPL) is an Indian company specializing in the manufacturing of plastic houseware products. It primarily operates as a white-label manufacturer, producing consumerware for customers to market under their own brand names. Accounts for 26% of India's total plastic houseware exports: In FY2024, the company exported products worth approximately USD 57 million, representing around 26% of India's total plastic houseware exports, according to its RHP citing a Technopak Report. ATPL primarily exports its products to retailers in the European Union, the United Kingdom, and the United States. Domestically, it sells to modern trade retailers, super distributors (who sell to distributors), and distributors (who supply general trade stores). Diverse product portfolio with 1,600+ SKUs across eight categories: As of March 31, 2024, the company had 1,608 stock-keeping units (SKUs) across eight categories: Prep Time (kitchen tools for preparing ingredients), Containers (food storage containers), Organization (miscellaneous storage containers), Hangers (various types of hangers), Meal Time (kitchenware), Cleaning Time (cleaning equipment), Bath Time (bathroom products), and Junior (child-friendly tableware and cutlery). During FY2024, FY2023, and FY2022, ATPL launched 553, 609, and 414 new SKUs, respectively. Rapid growth in the plastic houseware market: The global plastic houseware market grew at a CAGR of approximately 4.6%, from USD 24.3 billion in 2019 to USD 27.8 billion in 2022. In 2023, the market was valued at around USD 29 billion and is projected to reach USD 37 billion by 2027, with a CAGR of about 6.3% between 2023 and 2027. This growth has been driven by the surge in online shopping—accelerated by the COVID-19 pandemic—as consumers increasingly opt for the convenience of purchasing houseware products online. Urbanization and the shift toward nuclear families have further supported this trend. Prep Time – largest revenue contributor: The Prep Time category, which includes chopping boards, strainers, mixing bowls, colanders, measuring tools, spatula and spreader sets, and orange squeezers, contributed 38.19% of total revenue in FY2024. Containers accounted for 32.87%, while Organization contributed 10.05%. IKEA remains the largest customer: In FY2024, ATPL exported products to 28 countries. The company has long-standing relationships with major global retailers, including IKEA, Asda Stores Limited (Asda), Michaels Stores Inc., and Tesco Plc. Domestically, its products are sold through retailers such as Spencer's Retail Limited. ATPL and its acquired entity, Pyramid Plastics, have been supplying IKEA—its largest customer—for over 26 fiscal years. Asda, its second-largest customer in FY2024, has been partnered for over 13 years, followed by Michaels (3 years) and Tesco (16 years). Financial performance: Revenue from operations increased from ₹ 4,011.52 million in FY2022 to ₹ 5,128.53 million in FY2024, a CAGR of 13.07%. EBITDA grew from ₹ 578.76 million to ₹ 971.01 million during the same period, reflecting a CAGR of 29.53%. Net profit rose from ₹ 245.35 million to ₹ 447.90 million, a CAGR of 35.11%. Key risks: The company is highly dependent on its top four customers, with the largest accounting for 60.36% of revenue in FY2024. Moreover, it does not have long-term sales agreements with most of its customers. ATPL derived 94.04%, 91.27%, and 89.73% of its revenue from its top five product categories in FY2024, FY2023, and FY2022, respectively. Objectives of the issue: The company intends to utilize the proceeds from the public issue primarily for the prepayment or repayment of certain outstanding borrowings, the purchase of equipment and machinery for its Manekpur facility, and for general corporate purposes aimed at supporting future growth and operational efficiency. Listing and allotment details: The allotment of shares is expected to be finalized on August 12, 2025, with a tentative listing on both the BSE and NSE scheduled for Thursday, August 14, 2025. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
India Today
14-07-2025
- General
- India Today
The worry lines in Air India Flight AI171 crash preliminary report
A caution flag was raised quietly, six and a half years before Air India Flight AI171 last month plummeted from the Ahmedabad sky in one of the world's worst aviation tragedies. Back in December 2018, engineers at the US Federal Aviation Administration (FAA) had circulated an advisory about a component most pilots rarely worry about: the small, spring-loaded latches designed to lock the engine fuel-control levers firmly in the 'RUN' position on certain Boeing wide-body FAA's concern was specific and chilling: under some circumstances, the latch might disengage silently. Should the mechanism fail, even the normal frenzy of cockpit operations could work the lever backward, shutting off life-sustaining fuel supply to the plane's engines. The bulletin advised inspections, but significantly, did not made them mandatory. It was an advisory, a whisper in the cacophony of global aviation maintenance regulations. That whisper would go on to reverberate loud this June Air India Boeing 787 Dreamliner flight to London was being helmed by the late Captain Sumeet Sabharwal. According to the 15-page preliminary report on how the plane crashed, Sabharwal, 56, an Airline Transport Pilot Licence (ATPL) holder, had some 15,638 hours of flying experience, including 8,596 hours on the Dreamliner. With him was the late First Officer Clive Kunder, holder of a commercial pilot licence and 3,403 hours of flight experience, of which 1,128 hours were on Boeing the pilot community, it's disbelief that the pair's skill-set and experience on paper would allow them to accidentally bump the fuel-control switch—a critical part of the instrument panel—mid take-off. The plane, which had done over 41,800 hours since delivery in 2013, was fully certified for air worthiness; the last such approval had come just three weeks before the crash. 'The Boeing Company received reports from operators of Model 737 airplanes that the fuel-control switches were installed with the locking feature disengaged,' states the 2018 FAA advisory, detailing: 'The fuel-control switch has a locking feature to prevent inadvertent operation that could result in unintended switch movement between the fuel supply and fuel cut-off positions. In order to move the switch from one position to the other, under the condition where the locking feature is engaged, it is necessary for the pilot to lift the switch up while transitioning the switch position. If the locking feature is disengaged, the switch can be moved between the two positions without lifting the switch during transition, and the switch would be exposed to the potential of inadvertent operation. Inadvertent operation of the switch could result in an unintended consequence, such as an in-flight engine shutdown.'In the case of Flight AI171, the sequence captured by the aircraft's digital flight data recorder (DFDR) and cockpit voice recorder (CVR) is tragically brief. At 08:08:35 UTC (Universal Time Coordinated)—that is around 1:38 pm IST (Indian Standard Time)—the Dreamliner rotated at 155 knots. Four seconds later, it was airborne. Then, within the span of a single heartbeat—one second—both engine fuel cut-off switches abruptly transitioned from 'RUN' to 'CUT-OFF'. Engine parameters immediately began to CVR preserves the stunned disbelief in the cockpit. Captain Sabharwal's voice, sharp with alarm: 'Why have the engines shut down?' To which First Officer Kunder's response that 'I did not do it'. During examination of the wreckage, both thrust levers were found near idle position while the Enhanced Airborne Flight Recorder (EAFR) data shows they remained forward—at take-off thrust—until impact. It also notes that both fuel-control switches were found in 'RUN' followed midair on Flight AI171 was a desperate, 30-second battle against physics. The aircraft's Ram Air Turbine (RAT) deployed automatically, a small propeller dropping into the airstream to generate minimal hydraulic and electrical power. The auxiliary power unit inlet door opened as its auto-start sequence engaged. Engine 1 managed to relight, its core speed clawing back upward. But Engine 2 stubbornly refused, its core speed continuing to plummet despite repeated automated fuel-flow insufficient thrust and altitude, the jetliner became a gliding tomb. At 08:09:05 UTC (1:39 pm IST), a terse 'Mayday' call crackled over the Air Traffic Control radio. Seconds later, Flight AI171, still heavy with fuel, slammed into a densely packed residential suburb just beyond the Ahmedabad airport perimeter. The impact and ensuing fireball were wreckage, scattered over 300 meters, told a grim story: initial contact inside an Army Medical Corps compound, shearing through trees, obliterating the northeast wall of a hostel, carving a path of destruction through five residential blocks before the fuselage disintegrated. The vertical stabiliser lay 60 meters from the first impact point; engines and landing gear were embedded in roads and buildings. All 241 people on board were killed, besides 19 people on the the charred aftermath, teams of investigators from the government's Aircraft Accident Investigation Bureau (AAIB), with assistance from the Directorate General of Civil Aviation (DGCA), the US National Transportation Safety Board (NTSB), Boeing and engine-maker GE Aviation, descended upon the site. Drones captured the extent of the damage. Critical information emerged: the flap handle was set at five degrees; the landing gear lever was in down position, as it would be during take-off. Particularly, the mechanical control levers were found jammed in full forward supported the DFDR information, which indicated that full power had been activated down to the final milliseconds of the flight. Its throttle-control module had been replaced twice, once in 2019 and again in 2023, maintenance logs showed. However, there was no information in the logs about reported faults concerning the importantly, neither throttle-control module replacement prompted the specific inspections recommended in the 2018 FAA bulletin. Since the FAA action was not a mandatory airworthiness directive, compliance was left to the operator's discretion. 'We continue to fully cooperate with the AAIB and other authorities as their investigation progresses. Given the active nature of the investigation, we are unable to comment on specific details and refer all such enquiries to the AAIB,' Air India has said in a preliminary report on the crash, adhering to the International Civil Aviation Organisation (ICAO) principle of prioritising safety over blame, carefully avoids finger-pointing. It outlines the ongoing forensic work: detailed laboratory analysis of the recovered latches and switches; fuel samples and engine components; intense scrutiny of the 49 hours of flight data and two hours of cockpit audio; simulations testing the latching mechanism's integrity under stress; studies of system behaviour during sudden, catastrophic thrust loss; and evaluations of the human-machine interface during critical phases such as the hundreds of families whose lives were forever altered by the deaths in air and on the ground, the lack of closure to the Flight AI171 crash is a bitter truth. But it will come, eventually. Aviation safety experts, however, say the real worth of this investigation will not be in punishment but one former pilot acknowledged: 'If a latch failure, and such an unannounced one at that, can kill both engines at the worst time, you had better understand why and how it happened.' Because every operator of these planes and every passenger boarding them deserves to to India Today Magazine- EndsMust Watch
Indian Express
12-07-2025
- General
- Indian Express
Who were pilots of ill-fated Air India Ahmedabad-London flight
Captain Sumeet Sabharwal and First Officer Clive Kunder, both pilots of Air India flight AI-171, had been declared fit for duty and were adequately rested before the flight took off from Ahmedabad airport on June 12, according to an interim report released by the Aircraft Accident Investigation Bureau (AAIB). However, just seconds after the Boeing 787 Dreamliner jet reached its maximum recorded airspeed of 180 knots, both its engines shut down one after the other, leading to a fatal crash, the report said. Captain Sumeet Sabharwal, the pilot-in-command of AI-171 on June 12, was a seasoned flyer with over 15,600 hours of flight experience — more than half of it on the 787 Dreamliner. The 56-year-old held an Airline Transport Pilot Licence (ATPL), the highest level of certification, issued in May 2021 and valid until 2026. His most recent Class 1 medical examination was conducted on September 5, 2024. In the 30 days leading up to the crash, Sabharwal had logged approximately 57 flight hours. A long-serving pilot, Sabharwal lived in Jalvayu Vihar, Powai, with his 90-year-old father and was just months away from retirement. His neighbours earlier told The Indian Express that he looked forward to spending more time at home and caring for his aging parent. Sabharwal is survived by his elder sister, who lives in Delhi. Her two sons have followed in Sabharwal's footsteps and are both commercial pilots. First Office Clive Kunder, the co-pilot on the fateful flight, only recently started flying long haul international flights. The 32-year-old had 3,400 hours of flight experience, with around 1,100 hours on the 787 Dreamliner. Kunder held a Commercial Pilot License (CPL), which was issued in 2020 and was valid until September this year. His most recent Class 1 medical examination was conducted on February 4, 2025. In the 30 days leading up to the crash, Sabharwal had logged approximately 66 flight hours. At the time of the crash, Kunder was just two months away from his wedding. A graduate of the aircraft maintenance programme at the Bombay Flying Club, he later completed his flying training in Florida, US. His parents now live in Sydney along with his sister. Kunder's mother is a former Air India flight attendant. The pilot had been living alone in Mumbai's Goregaon area. Both pilots, based in Mumbai, had arrived in Ahmedabad a day earlier. On the day of the flight, the crew reported to the airport, underwent pre-flight breath analyser tests, and were found fit to operate the aircraft. According to the investigation, the crash likely occurred after both engine fuel control switches moved from 'RUN' to 'CUTOFF' position in quick succession shortly after takeoff. 'In the cockpit voice recording, one of the pilots is heard asking the other why did he cut off. The other pilot responded that he did not do so,' the report said.
India.com
05-06-2025
- Business
- India.com
India's First Aerial Action Thriller ‘Flight' Back In Theatres, Watch AI-Enhanced VFX On BIG Screens - Check Re-Release Date
New Delhi: India's first aerial action thriller, 'Flight' has returned to theatres, with enhanced artificial intelligence (AI) backed visuals. Flight delivers an immersive, hyper-realistic spectacle made for the big screen. Starring actor Mohit Chadda, Pawan Malhotra, and Zakir Hussain, 'Flight originally broke new ground in Indian cinema with its intense aerial sequences, suspenseful storytelling, and high production value. On Flight's AI-Backed VFX Lead actor Mohit Chadda said, "With this re-release, we've taken Flight to new heights – literally and visually. Telling impactful stories has always been the aim, and now with the power of AI, we'll able to tell them in ways never imagined before. This version of Flight isn't just enhanced—it's transformed." Behind this innovation is Crazy Boyz Entertainment, the production house that first brought Flight to audiences, and its visual effects division - Crazy VFX. It is founded by Mohit Chadda, who has a tech background. Over the years, he's built a diverse acting career spanning Bollywood, Tamil, and Telugu cinema, along with several successful TV appearances. FLIGHT RE-RELEASE IN CINEMAS The film's re-release is presented in collaboration with ATPL, led by renowned media entrepreneur Akkshay Rathie, who has partnered with Crazy Boyz Entertainment to bring this next-gen theatrical experience to audiences across India. 'What Crazy VFX has achieved with Flight is nothing short of revolutionary. They are reimagining the boundaries of filmmaking through AI—bringing a level of visual sophistication that is not only immersive but also game-changing for the industry. We're thrilled to bring this enhanced experience to the big screen, " said Akkshay Rathie, Director, Ashirwad Theatres Pvt. Ltd. Whether you're watching it for the first time or reliving the adrenaline, Flight is India's first AI-enhanced action spectacle. And it's meant to be seen where it belongs: on the big screen. Flight (AI-Enhanced Version) is being released in theatres nationwide on May 30, 2025, by Cinepolis.
