Captain Polyplast Limited , a manufacturer of micro irrigation systems and allied products, has reported a significant increase in revenue for the second quarter of fiscal year 2026, despite a decline in profitability.

Financial Highlights

For the quarter ended September 30, 2025, Captain Polyplast Limited reported the following key financial metrics:

Revenue Growth

The company's revenue from operations saw a substantial increase of 49.7% year-over-year, rising from Rs 5,325.75 lakhs in Q2 FY2025 to Rs 7,972.67 lakhs in Q2 FY2026.

Profitability

Despite the strong revenue growth, Captain Polyplast experienced a significant decline in profitability. Profit after tax for Q2 FY2026 stood at Rs 411.81 lakhs, a 74.5% decrease from Rs 1,612.19 lakhs in the same quarter of the previous fiscal year.

Half-Yearly Performance

For the half-year period ended September 30, 2025:

• Revenue from operations increased to Rs 14,946.87 lakhs from Rs 11,814.54 lakhs in the corresponding period of the previous year, marking a 26.5% growth.
• Profit after tax for the half-year reached Rs 826.53 lakhs, compared to Rs 1,985.96 lakhs in the same period last year, representing a 58.4% decrease.

Segment Performance

Captain Polyplast operates in two segments:

1. Manufacturing of micro irrigation systems and allied products
2. Distributor for Indian Oil Corporation's polymer business

The micro irrigation systems segment contributed significantly to the company's revenue, while the polymer distribution segment showed lower contribution.

Balance Sheet Position

As of September 30, 2025, Captain Polyplast reported:

• Total assets of Rs 31,322.11 lakhs
• Total liabilities of Rs 14,537.25 lakhs
• Shareholders' equity of Rs 16,784.86 lakhs

Board Approval

The board of directors approved these unaudited financial results in their meeting held on November 8, 2025.

Conclusion

While Captain Polyplast Limited has demonstrated strong revenue growth in Q2 FY2026, the significant decline in profitability is notable. The company's financial performance in upcoming quarters will be important to monitor.

Captain Polyplast Ltd , a key player in the agricultural and solar energy sectors, has achieved a significant milestone in its business operations. The company has received a Letter of Acceptance (LOA) from Dakshin Gujarat Vij Company Limited, marking its empanelment as a vendor for the supply of off-grid standalone solar photovoltaic water pumping systems under Component-B of the PM-KUSUM scheme in Gujarat State.

PM-KUSUM Scheme Empanelment

The Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) scheme is a government initiative aimed at promoting solar energy in the agricultural sector. Captain Polyplast's empanelment as a vendor under this scheme opens up new opportunities for the company to contribute to sustainable agricultural practices and rural development in Gujarat.

Business Implications

This empanelment is expected to strengthen Captain Polyplast's position in the renewable energy sector, particularly in the realm of solar-powered agricultural solutions. By supplying solar photovoltaic water pumping systems, the company will play a crucial role in helping farmers access clean, sustainable energy for irrigation purposes.

Management Statement

Rameshbhai D. Khichadia, the Managing Director of Captain Polyplast Ltd, announced this development as part of a business update to the stock exchange. The company's proactive approach in aligning with government initiatives demonstrates its commitment to sustainable growth and environmental responsibility.

Recent Corporate Actions

In addition to this empanelment, Captain Polyplast has recently undertaken significant corporate actions. The company's board of directors approved the allotment of 2,50,000 equity shares pursuant to the conversion of an equal number of warrants. This allotment was made to a non-Promoter Group entity on a preferential basis.

Capital Structure Update

Following this allotment, Captain Polyplast's paid-up equity share capital has increased. The post-issue paid-up capital now stands at 5,99,28,790 equity shares, amounting to Rs. 11,98,57,580.00. This represents an increase from the pre-issue paid-up capital of 5,96,78,790 shares valued at Rs. 11,93,57,580.00.

These developments collectively underscore Captain Polyplast's strategic moves to strengthen its market position, diversify its operations, and contribute to sustainable agricultural practices through solar energy solutions.