Captain Polyplast Wins ₹23.6 Cr Order From MSEDCL for 1,000 Solar Pumps
Captain Polyplast Limited has won a ₹23.6 Cr order from Maharashtra State Electricity Distribution Company Limited for 1,000 Off-Grid DC Solar Photovoltaic Water Pumping Systems under the PM KUSUM B Scheme. The scope covers design, manufacture, supply, installation, testing, and commissioning of 3HP, 5HP, and 7.5HP systems, with a 5-year warranty and Remote Monitoring System, to be completed within 60 days of NTP issuance.
*this image is generated using AI for illustrative purposes only.
Captain Polyplast Limited has secured a significant order worth ₹23.6 Cr from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the supply of 1,000 Off-Grid DC Solar Photovoltaic Water Pumping Systems. The order, awarded under the PM KUSUM B Scheme, encompasses design, manufacture, supply, transport, installation, testing, and commissioning of systems with capacities of 3HP, 5HP, and 7.5HP at identified farmer sites in Maharashtra. This contract strengthens the company's order book and enhances revenue visibility in the solar EPC segment.
Order Details and Scope
The agreement mandates the completion of installation within 60 days from the date of issuance of the Notice to Proceed (NTP), Work Order, or JSR approval. The scope includes a complete system warranty, repair and maintenance, and a Remote Monitoring System (RMS) for five years. The project falls under the "Magel Tyala Saur Krushi Pump" Yojana, a component of the central government's initiative for renewable energy in agriculture.
| Particulars | Details |
|---|---|
| Entity Awarding the Order | Maharashtra State Electricity Distribution Company Limited |
| Nature of Entity | Domestic entity |
| Order Value | ₹23.6 Cr approx. (including GST) |
| Scope | Design, Manufacture, Supply, Installation, Testing and Commissioning of 1,000 Off-Grid DC Solar Photovoltaic Water Pumping Systems |
| Capacity | 3HP, 5HP & 7.5HP |
| Completion Timeline | Within 60 days from NTP/Work Order/JSR approval |
| Warranty & Maintenance | 5 years including Remote Monitoring System |
Financial and Operational Impact
The total commercial consideration for the order is approximately ₹23.6 Cr, inclusive of Goods and Services Tax (GST). The company confirmed that the order is from a domestic entity and that there are no related party transactions or interests held by the promoter group in the awarding entity. This win reinforces Captain Polyplast's execution capabilities in the government-led solar infrastructure domain.
Strategic Significance
Ritesh Khichadia, Whole Time Director of Captain Polyplast Limited, highlighted that the order reaffirms the company's strong execution capabilities and the confidence placed in it by government utilities. He emphasized that the adoption of renewable energy-based irrigation is gaining momentum, and the company remains focused on timely execution and operational excellence. This order is expected to support steady growth in the solar pump segment and diversify the company's revenue mix.
Historical Stock Returns for Captain Polyplast
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.40% | -0.40% | -1.84% | -0.16% | -3.91% | +101.43% |
How will the tight 60-day execution timeline impact Captain Polyplast's operational margins and resource allocation?
Does this order signal a potential pipeline for similar contracts under the PM KUSUM scheme in other states?
What are the company's strategies for managing the five-year maintenance liability and associated costs?
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