Dattatraya (Amitabh Bachchan) is a lively 102 year old who lives his life to the maximum. Although he is 102 year old, his heart is that of a 26-year lad. He enjoys life and takes everything in a jovial way. Babu (Rishi Kapoor), his son, is exactly opposite. He believes that he is now too old to enjoy life and lives a routined life. Dattatraya wants to break the record of the oldest living person on earth, which is held currently by a Chinese man. He has to live 16 more years to do so. But in order to maintain his health to live that long, he has to stay away from negative minded people. Therefore, he decides to send his son to an old age home unless Babu fulfills certain conditions of his father.

The movie revolves on the conditions given to Babu, which he hesitates to fulfill initially but fulfills them due to the fear of going to the old age home. The conditions imposed on Babu changes his way of looking at life.

The first condition is that Babu has to write a love letter to his deceased wife, Chandrika. After a lot of thinking, he submits the letter to his father, who laughs and enjoys reading the letter.

In the next condition, Babu has to accuse his doctor of being a thief to break the connection between him and his doctor so he stops going to the doctor's clinic everyday for checkup. Babu accepts the condition to stop going to the doctor's clinic every day without calling him a thief.

After completing few conditions, Babu starts seeing life in a jovial way, just like his father. One condition that totally changes Babu's life was a visit to St. Sebastian's church, where Babu & his estranged son Amol came for prayers. His last condition is to kick Amol out of the house, although Babu initially disagrees and the final condition proves to be difficult.

Dattaraya tells Babu to blow a whistle when he dies, to celebrate his outstanding feat, 102 years. At last, 102 not out becomes 102 out & Babu whistles. Babu listens to a message that Dattaraya recorded 2 days before death. In that Dattaraya says that he is sitting in a cloud, with the Chinese man beside him. He is telling the man that the record will be broken by a man from his family, his son after another 43 years.

• Amitabh Bachchan as Dattatraya Vakharia
• Rishi Kapoor as Babulal Vakharia, Dattatraya's son
• Jimit Trivedi as Dhiru
• Dharmendra Gohil as Amol Vakharia, Babulal's son
• Vijay Raaz as The Narrator

The music of the film has been composed by Salim-Sulaiman, Amitabh Bachchan and Rohan-Vinayak while the lyrics were written by Hiral Brahmbhatt, Saumya Joshi, Amitabh Bhattacharya and Kaifi Azmi. The songs featured in the film are sung by Arijit Singh, Armaan Malik, Sonu Nigam, Amitabh Bachchan, Rishi Kapoor and Hiral Brahmabhatt. George Joseph has composed the background music for this film. The first song of the film, Bachche Ki Jaan which is sung by Singh was released on 10 April 2018. The second song of the film, Badumbaaa which is sung by Bachchan and Kapoor was released on 18 April 2018. The music album was released on 30 April 2018 by Saregama Music. Vipin Nair of The Hindu gave the soundtrack 3.5/5 stating that Salim-Sulaiman delivered "their best work in a very long time".

On review aggregator website Rotten Tomatoes 102 Not Out has an approval score of 71% on the basis of 7 reviews with an average rating of 6.3 out of 10. Rajeev Masand of News18 gave the film a rating of 3 out of 5 saying that, "Despite its many shortcomings 102 Not Out has its heart in the right place, and a pair of actors clearly enjoying themselves on screen. Their infectious energy alone makes this film worth a watch."^[13] Rachit Gupta of The Times of India gave the film a rating of 3.5 out of 5 saying that, "The unique and refreshing concept of ‘102 Not Out’ is its strength. It’s just a happy and healthy entertainer that tells you that living in the moment and making the most of everyday of your life is all that matters."^[14] Shalini Langer of The Indian Express gave the film a rating of 2 out of 5 saying that, "No doubt it's great to see a film about two old people. But we have seen both Amitabh Bachchan and Rishi Kapoor in that avatar in better films (Piku especially, and in Kapoor & Sons) before this."^[15] Rohit Vats of Hindustan Times gave the film a rating of 3 out of 5 and said that, "102 Not Out’s heart is firmly in the right place. The film knows its territory and the emotions it wants to evoke. It’s just that a few important characters don’t get enough play and they are sacrificed to make space to Amitabh Bachchan and Rishi Kapoor."^[16] Raja Sen of NDTV gave the film a rating of 2 out of 5 saying that, "Shukla's film is a sweet but dull enterprise, one that never quite rises above its ultimate ambition: that of having two legendary actors play off each other."^[17]

Rohit Bhatnagar of Deccan Chronicle gave the film a rating of 3.5 out of 5 saying that, "The Amitabh Bachchan and Rishi Kapoor starrer film is a heart warming experience of celebrating life as it comes."^[18] Namrata Joshi of The Hindu reviewed the film saying that, "Umesh Shukla’s film is unable to leave its inherent theatricality behind. It gets unchanging in terms of the give and take between the duo and leaves the viewers static too. It stirs nothing within, leaving you unmoved."^[19] Meena Iyer of DNA India gave the film a rating of 3.5 out of 5 saying that, "This is a small, sweet film with its heart in the right place."^[20] Anupama Chopra of Film Companion gave the film a rating of 3 out of 5 saying that, "102 Not Out is uneven but heartfelt. Despite the flaws, the emotions connect."^[21] Sonil Dedhia of Mid-Day gave the film a rating of 3 out of 5 saying that, "Bachchan and Kapoor's effortless performances, coupled with their intoxicating screen presence make this movie worth watching."^[22]