Captain Polyplast Ltd (CPL)
🎯 Key Takeaways
- Captain Polyplast Ltd is in a growth phase driven by strategic capacity expansion and segment diversification, particularly in solar EPC and micro-irrigation, supported by strong revenue growth and improving operational efficiency. While profitability remains volatile due to margin pressures, the company is executing on its expansion roadmap with new facilities and large orders, signaling intent to scale sustainably in high-potential segments.
- Revenue declined 42.6% QoQ to ₹81 in Q1FY27.
- ⚠️ Margin pressure persists despite EBITDA growth, with net profit margin declining to 5.71%, signaling vulnerability to input costs or pricing competiti
📖 The Story
Captain Polyplast Ltd is in a growth phase driven by strategic capacity expansion and segment diversification, particularly in solar EPC and micro-irrigation, supported by strong revenue growth and improving operational efficiency. While profitability remains volatile due to margin pressures, the company is executing on its expansion roadmap with new facilities and large orders, signaling intent to scale sustainably in high-potential segments.
📰 What's Happening
In Q1 FY27 (August 2026), revenue grew 16.3% YoY to ₹81.66 crores, driven by new orders including a ₹11.8 crore solar pump order from MSEDCL and ramp-up of the Ahmedabad facility. EBITDA rose 26.7% to ₹9.86 crores with margin expanding 99 bps to 12.07%, though net profit margin declined 41 bps to 5.71%. Management highlighted improving revenue mix and cost optimization as key levers. The company also secured NSE listing and is advancing its solar EPC order book, with investor focus on execution of expansion plans and margin recovery in upcoming quarters.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Revenue | 80 | 126 | 141 | 81 |
| Operating Profit | 7 | 15 | 13 | 9 |
| OPM % | 9.1% | 11.5% | 9.0% | 10.6% |
| Net Profit | 4 | 9 | 10 | 5 |
| EPS | ₹0.71 | ₹1.59 | ₹1.64 | ₹0.78 |
Revenue growth has accelerated, with Q1 FY27 showing the highest YoY increase (16.3%) in recent quarters, supported by new capacity and large orders. However, net profit margin has declined sequentially and YoY, indicating cost or pricing pressures despite EBITDA margin expansion. The company's ability to convert revenue growth into sustainable profitability remains a key watchpoint, especially as it scales the Ahmedabad facility and expands solar EPC operations.
🔮 Management Outlook & What's Next
Management expects continued growth from the newly operational Ahmedabad facility and an expanding solar EPC order book, with emphasis on improving revenue mix in micro-irrigation and disciplined working capital management. Forward guidance focuses on scaling capacity and capturing demand in high-growth segments, though no specific financial targets were provided. The outlook remains execution-dependent, with near-term investments likely to weigh on margins before full benefits materialize.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 11 | 12 | 12 | 12 |
| Reserves | 106 | 133 | 159 | 179 |
| Borrowings | 83 | 66 | 82 | 89 |
| Total Liabilities | 269 | 278 | 316 | 348 |
| Fixed Assets | 15 | 14 | 18 | 20 |
| Investments | 3 | 8 | 3 | 4 |
| Total Assets | 269 | 278 | 316 | 348 |
The balance sheet shows a stable capital structure with equity of ₹12 crores and reserves growing from ₹133 to ₹179 crores between FY25 and FY26, indicating retained earnings. Borrowings increased modestly from ₹66 to ₹89 crores, reflecting incremental funding for expansion. Total assets rose to ₹348 crores, suggesting effective deployment of capital into growth initiatives without significant leverage spikes, supporting a conservative but growth-capable financial position.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | +9 |
| Investing | +9 |
| Financing | -22 |
| Net Cash Flow | -4 |
👥 Shareholding Pattern
| Category | Q4FY26 | Q1FY27 |
|---|---|---|
| Promoters | 68.8% | 68.8% |
| FII | 0.0% | 0.0% |
| DII | 0.0% | 0.0% |
| Public | 26.7% | 26.7% |
| # Shareholders | 19,568 | 19,394 |
Promoter holding remains steady at 68.79% in Q1FY27, with no FII or DII holdings reported, suggesting limited institutional interest or disclosure. The public shareholding increased slightly to 26.71% with 19,394 shareholders, indicating broadening retail interest. No promoter pledging or selling signals are evident, and the shareholder structure remains stable ahead of the upcoming AGM.
⚖️ Peer Comparison — Plastic products
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| SUPREMEIND | 45,398 | 44.0 | 22.1% | 16.7% | 0.00 |
| ASTRAL | 40,535 | 70.4 | 20.0% | 14.2% | 0.04 |
| SHAILY | 14,945 | 84.5 | 33.8% | 32.3% | 0.34 |
| FINPIPE | 9,633 | 15.6 | 12.7% | 9.9% | 0.07 |
| TIMETECHNO | 9,411 | 18.5 | 20.9% | 17.2% | 0.22 |
| KINGFA | 8,169 | 36.2 | 39.9% | 31.0% | 0.05 |
| SAFARI | 7,500 | 45.4 | 19.8% | 14.8% | 0.00 |
| VIPIND | 4,312 | — | -43.7% | -130.7% | 1.42 |
| RESPONIND | 4,002 | 39.5 | 7.5% | 6.5% | 0.12 |
| PRINCEPIPE | 3,223 | 31.0 | 8.0% | 6.5% | 0.17 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Margin pressure persists despite EBITDA growth, with net profit margin declining to 5.71%, signaling vulnerability to input costs or pricing competition. 2. Related party transaction exposure is highlighted as a governance risk in the annual report, requiring close monitoring. 3. Foreign exchange volatility could impact imported raw material costs. 4. Execution risk in scaling new capacity and converting order book into revenue remains a key operational challenge.
📋 Recent Filings
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🔴 annual report 1 September 2026Captain Polyplast Ltd announced that members without registered email addresses can access the 29th Annual General Meeting notice and FY2025-26 Integr...
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🔴 annual report 28 August 2026Captain Polyplast Ltd (CPL) filed its 2025-26 Annual Report on BSE (Reg. 34(1)) on 28 August 2026, detailing the 29th AGM scheduled for 26 September 2...
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🟡 Board Meeting 28 August 2026Captain Polyplast Ltd announced its 29th AGM scheduled for 26 September 2026 via video conferencing, seeking shareholder approval for adopting audited...
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🟡 Board Meeting 24 August 2026Captain Polyplast Limited announced that its 29th Annual General Meeting will be held on September 26, 2026 via video conference at 11:00 A.M. IST, wi...
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🔴 Financial Results 17 August 2026Captain Polyplast Limited reported Q1 FY27 revenue of ₹81.66 crores, up 16.3% YoY, with EBITDA rising 26.7% to ₹9.86 crores and margin expanding 99 ba...
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Announcement 12 August 2026Captain Polyplast Limited announced that the transcript of its earnings call held on 11 August 2026 is now available on its website, providing investo...
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Announcement 11 August 2026Captain Polyplast Limited (CPL) presented its Q1 FY27 investor update, highlighting a 16.3% YoY revenue increase to ₹81.66 crore and a 26.7% YoY rise ...
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🔴 Financial Results 8 August 2026Captain Polyplast Limited reported Q1 FY27 consolidated total income of ₹81.66 crores, a 16.3% YoY increase, and EBITDA of ₹9.86 crores, up 26.7% YoY,...
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🟡 Board Meeting 8 August 2026The board approved standalone and consolidated unaudited financial results for Q1 FY2026 ending June 30, 2026, along with a limited review report from...
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🟡 concall transcript 30 June 2026Captain Polyplast Limited reported Q1 FY'27 total income of **₹81.66 crores**, up 16.3% YoY, with EBITDA rising 26.7% to **₹9.86 crores** and margin e...
🧠 Analyst's Read
Captain Polyplast is transitioning into a growth-oriented phase with tangible order wins and capacity expansion, but profitability remains uneven. Investors should monitor margin recovery in upcoming quarters and the company's ability to scale solar EPC and micro-irrigation segments without compromising financial discipline.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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