Revenue rose 7.66%, but costs cut operating margin to 7.80%
Expenses grew more than twice as fast as revenue sequentially, while other income made up 54.49% of pre-tax profit.
Filed 04 Nov 2026, 20:37 IST · after market close · All Time Plastics Ltd (ALLTIME)
Key takeaways
- Consolidated revenue rose +7.66% QoQ, but expenses grew +16.10%, cutting operating margin by 6.70 percentage points to 7.80%.
- Net profit fell -69.65% QoQ to Rs 3.63 cr as interest rose +6.48% and other income contributed 54.49% of pre-tax profit.
- Operating margin at 7.80% was 4.11 percentage points below the 11.91% median for 223 Consumer Discretionary peers.
Price around the results
Revenue growth did not translate into profit
All Time Plastics’ consolidated revenue grew +7.66% QoQ to Rs 174.08 cr, but operating profit fell -42.06% to Rs 13.58 cr. Net profit dropped -69.65% to Rs 3.63 cr, taking EPS down -69.95% to Rs 0.55. The sequential comparison shows weaker earnings conversion despite higher sales.
Costs squeezed margins and profit quality weakened
Expenses rose +16.10% QoQ, faster than revenue, reducing operating margin by 6.70 percentage points to 7.80%. Interest increased +6.48% and depreciation rose +5.35%, adding to the pressure below operating profit. Other income accounted for 54.49% of pre-tax profit, so reported earnings depended materially on non-operating income. The tax rate also increased by 1.11 percentage points to 27.47%.
Margin trailed the Consumer Discretionary peer median
The company’s 7.80% operating margin was 4.11 percentage points below the 11.91% median among 223 Consumer Discretionary companies that had reported the quarter. Against Q1FY27, margin fell from 14.50% to 7.80%, marking a sharp sequential deterioration.
Results were filed after market close
The consolidated results were filed after market close, so the immediate stock-market response is not covered here. The quarter’s key market-relevant issue is the gap between +7.66% revenue growth and +16.10% expense growth.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹174 cr | ₹162 cr | +7.66% |
| Other income | ₹3 cr | ₹4 cr | -22.00% |
| Expenses | ₹161 cr | ₹138 cr | +16.10% |
| Operating profit | ₹14 cr | ₹23 cr | -42.06% |
| Operating margin (%) | 7.80% | 14.50% | — |
| Interest | ₹3 cr | ₹2 cr | +6.48% |
| Depreciation | ₹9 cr | ₹8 cr | +5.35% |
| Profit before tax | ₹5 cr | ₹16 cr | -69.15% |
| Tax | ₹1 cr | ₹4 cr | -67.76% |
| Net profit | ₹4 cr | ₹12 cr | -69.65% |
| EPS (₹) | ₹0.55 | ₹1.83 | -69.95% |
Operating margin of 7.80% compares with a Consumer Discretionary sector median of 11.91% across 223 peers that have reported Q2FY27.
What to watch
- Whether expense growth moderates from +16.10% QoQ relative to revenue growth of +7.66%.
- Whether operating margin recovers from 7.80% toward the Q1FY27 level of 14.50%.
- Whether other income remains as high as 54.49% of pre-tax profit.