Captain Technocast Limited has informed the stock exchanges regarding the publication of its postal ballot notice in newspapers. The notice, dated 18 May 2026, was published in the Financial Express on 19 May 2026. The company is seeking shareholder approval for the sale of its entire shareholding in Vartis Engineering Private Limited, a material subsidiary.

Resolution Details

The company proposes to divest 4,08,000 equity shares, constituting 51.00% of the equity share capital, for an aggregate consideration of INR 1,95,88,080. The strategic decision follows an offer from Mr. Rahul Nimavat and Mr. Ashokbhai K. Bhut to acquire the stake. The board has determined the move to be in the best interest of the company and its stakeholders. The valuation for the transaction was based on a report dated 4 May 2026, approved by the Audit Committee and the Board.

Voting Schedule and Process

The company has engaged NSDL to facilitate remote e-voting and postal ballot. The voting period commences on Tuesday, 19 May 2026, at 09:00 A.M. and concludes on Wednesday, 17 June 2026, at 05:00 P.M. Shareholders registered as of the cut-off date, Friday, 8 May 2026, are eligible to participate. The results of the postal ballot are expected to be announced on or before Thursday, 18 June 2026.

Scrutinizer Appointment

Mr. Kishor Dudhatra, Practicing Company Secretary, Ahmedabad, has been appointed as the Scrutinizer to conduct the postal ballot and e-voting process in a fair and transparent manner. The notice and relevant forms are being sent electronically to members with registered email addresses, while physical copies are dispatched to others.

Captain Polyplast Limited (CPL), one of the leading manufacturers and exporters of micro irrigation solutions with a diversified presence in the solar EPC and polymer markets, has announced the commencement of production at its newly constructed manufacturing facility near Ahmedabad, Gujarat, effective 14th May, 2026. The development was disclosed pursuant to Regulation 30 of the Securities and Exchange Board of India (LODR) Regulations, 2015.

New Ahmedabad Facility: Key Details

The new plant represents a significant expansion of CPL's manufacturing footprint. The following table outlines the key parameters of the facility:

The facility complements CPL's existing manufacturing infrastructure in Rajkot (Gujarat) and Kurnool (Andhra Pradesh), and the total land area of 3,30,000 sq. ft. provides headroom for future capital expenditure requirements.

Strategic Significance and Operational Highlights

The commissioning of the Ahmedabad plant is positioned as a key milestone in CPL's backward integration strategy. By enabling in-house production of critical components that were previously sourced externally, the facility is expected to improve cost efficiencies and strengthen the company's overall profitability profile. Key highlights of the new facility include:

• Enhanced production capacity for micro irrigation systems such as driplines, sprinklers, and HDPE pipes
• In-house production of critical components, supporting backward integration
• Factory spanning ~70,000 sq. ft., strategically located near Ahmedabad, completed as per planned timelines
• Total land area of 3,30,000 sq. ft. available to serve future capex requirements
• Strengthened manufacturing base to cater to growing domestic and international demand

Commenting on the development, Ritesh Khichadia, Whole Time Director of Captain Polyplast Limited, stated: "The commencement of production at our Ahmedabad facility is a landmark moment for the Company and a culmination of years of careful planning and execution. This plant is central to our backward integration strategy and will allow us to manufacture critical components in-house, significantly improving our cost structure and margins. The facility will also enhance our capacity to serve the growing demand in our micro-irrigation business. We are confident that this investment will generate long-term value for our shareholders, customers, and all stakeholders."

Financial Performance

CPL's recent consolidated financial performance underscores the context for this capacity expansion. The following table summarises the company's key financial metrics for FY25:

About Captain Polyplast Limited

Established in 1997, Captain Polyplast Limited specialises in the manufacturing and export of micro irrigation equipment for a diverse range of agricultural applications, leveraging over 25 years of industry expertise. The company operates manufacturing facilities in Rajkot (Gujarat) and Kurnool (Andhra Pradesh), and has built a strong distribution network spanning 16 states across India, with exports to markets in Africa, Latin America, and the Middle East. In recent years, CPL has diversified into the solar EPC segment, focusing on solar water pumping systems and rooftop solar solutions supported by government initiatives such as the PM-KUSUM scheme. The company has also partnered with Indian Oil Corporation Limited (IOCL) for polymer product marketing in Gujarat.