Rajkot (Gujarat) [India], May 25: Captain Polyplast Limited (CPL, BSE: 536974), one of the leading manufacturer and exporter of micro irrigation solutions, and has diversified its operations into the fast-paced solar EPC and polymer markets, has reported its Audited financials for Q4 & 12M FY26.
Key Consolidated Financial Highlights
Q4 FY26:
- Total Income of ₹ 142.22 Cr, YoY growth of 80%
- EBITDA of ₹ 14.16 Cr, YoY growth of 66%
- EBITDA Margin of 9.96%
- Net profit of ₹ 9.76 Cr, YoY growth of 91%
- Net Profit Margin of 6.87%, YoY growth of 40 Bps
- EPS of ₹ 1.64, YoY growth of 82%
FY26:
- Total Income of ₹ 419.75 Cr, YoY growth of 45%
- EBITDA of ₹ 46.32 Cr, YoY growth of 36%
- EBITDA Margin of 11.03%
- Net Profit of ₹ 27.78 Cr
- Net Profit Margin of 6.62%
- EPS of ₹ 4.65
Commenting on the performance Mr. Ritesh Khichadia, a Whole Time Director of Captain Polyplast Limited said, “FY26 has been a year of strong execution and strategic progress for the Company. We strengthened our core micro-irrigation business while scaling our solar EPC presence, supported by favourable government policies.
In Q4 FY26, we delivered a robust financial performance, with Total Income growing by 80% YoY to ₹142.22 Cr, while EBITDA increased by 66% YoY to ₹14.16 Cr. Net Profit rose sharply by 91% YoY to ₹9.76 Cr, reflecting improved scale and operating leverage, with margins remaining stable despite a high-growth environment.
In the solar segment, we secured multiple orders under the PM-KUSUM scheme and accelerated execution, making it an emerging growth driver for the Company. During the quarter, we also received an order from MSEDCL for the supply and installation of 300 off-grid solar water pumps, further strengthening our order book and execution visibility. Our expanding empanelment across states positions us well to capture this large opportunity.
Our micro-irrigation business continues to be the backbone of the Company, supported by an improving product mix and a growing contribution from non-subsidy and export segments. The GST reduction from 12% to 5% has further improved affordability and is expected to drive wider adoption across key markets.
With our Ahmedabad facility now operational, we expect enhanced margins through backward integration. Coupled with a strong distribution network and a supportive policy environment, we are well-positioned to sustain growth momentum and deliver long-term value for all stakeholders.”
Q4 FY26 Key Business Highlights
| Order Win | Authority: Received order from MSEDCL under the “Magel Tyala Saur Krishi Pump” YojnaScope & Value: Supply and installation of 300 off-grid solar water pumps worth ₹8.17 Cr |
About Captain Polyplast Limited (CPL)
Captain Polyplast Limited (CPL) is one of the leading players in the micro-irrigation industry, specializing in the manufacturing and export of equipment for a diverse range of agricultural applications. Established in 1997, the Company leverages over 25 years of expertise and operates manufacturing facilities in Rajkot (Gujarat) and Kurnool (Andhra Pradesh). It has built a strong distribution network spanning 16 states across India and exports to markets in Africa, Latin America, and the Middle East.
In recent years, CPL has diversified into the fast-growing solar EPC segment, focusing on solar water pumping systems and rooftop solar solutions, supported by strong 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, further strengthening its business portfolio.
The recently operational Ahmedabad plant, spanning ~70,000 sq. ft., is expected to enhance manufacturing efficiency and profitability by enabling in-house production of critical components, thereby improving capacity utilization.
Looking ahead, CPL aims to increase the share of commercial sales, including non-subsidy micro-irrigation, PVC pipes, and exports, to optimize working capital. It also plans to expand its domestic and international footprint, while growth in the solar EPC vertical is expected to further diversify the revenue mix.
With a strong focus on strategic partnerships, operational excellence, and product quality, CPL is well-positioned to enhance its manufacturing capabilities and strengthen its leadership in the micro-irrigation and renewable energy sectors.
In FY26 (Consolidated), Captain Polyplast Limited reported Total Income of ₹ 419.75 Cr, EBITDA of ₹ 46.32 Cr, and a net profit of ₹ 27.78 Cr.
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