Captain Polyplast Limited (CPL), a leading player in the micro irrigation industry, has received a significant order worth ₹8.17 crore from Maharashtra State Electricity Distribution Company Limited (MSEDCL). The order, part of the PM Kusum B Scheme, involves the supply and installation of 300 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS).

Order Details

This order is in addition to an earlier order of 200 pumps, highlighting the company's growing presence in the solar EPC segment. The systems will be installed at identified farmer's sites across various districts in Maharashtra.

Company's Expansion in Sustainable Solutions

Captain Polyplast's diversification into the solar EPC market aligns with its long-term strategy of expanding into sustainable solutions. This order is expected to contribute positively to the company's growth momentum and future outlook.

Ritesh Khichadia, Whole Time Director of Captain Polyplast Limited, commented on the new order, stating, "The additional order for 300 pumps highlights our execution capabilities in the solar pumps segment. With the PM Kusum scheme driving large-scale adoption of clean irrigation technologies, we see significant opportunities ahead."

Impact on Business

The order is anticipated to support Captain Polyplast's growth in the sustainable energy sector. As the company continues to leverage its expertise in micro irrigation and expands into the solar EPC market, such orders are likely to play a crucial role in diversifying its revenue streams and strengthening its market position.

Captain Polyplast's commitment to quality and its strategic expansion into sustainable solutions position it well to capitalize on the growing demand for clean energy solutions in the agricultural sector. As the company executes this order, investors and industry observers will be keen to see how it translates into financial performance and market share growth in the coming quarters.

Captain Polyplast , a manufacturer and exporter of micro irrigation solutions and solar EPC player, has reported mixed financial results for the second quarter of the current fiscal year. The company saw a significant decline in net profit despite an increase in revenue.

Financial Performance

It's important to note that the previous year's profit included an exceptional income of ₹16.00 crore, which significantly impacts the year-over-year comparison.

Segment Performance

The company reported steady growth in both its micro irrigation and solar EPC segments, contributing to the overall revenue increase and EBITDA growth.

New Orders and Empanelment

Captain Polyplast has secured new business opportunities:

• Received orders worth ₹6.00 crore from MSEDCL for 200 off-grid solar water pumps
• Obtained empanelment from Dakshin Gujarat Vij Company under the PM-KUSUM Scheme

Government Support and Market Outlook

The company anticipates continued government support to drive demand in its sectors. A notable development is the reduction of GST from 12% to 5% on irrigation and solar equipment, which is expected to improve affordability for customers.

Stock Performance

Following the announcement of these results, Captain Polyplast's shares experienced a decline of 7%, closing at ₹77.00.

While the company faces challenges in maintaining profit levels compared to the previous year, the growth in revenue and EBITDA, along with new order acquisitions, suggests ongoing business development efforts. Investors and market watchers may want to keep an eye on how Captain Polyplast leverages government initiatives and manages its growth strategy in the coming quarters.