Captain Polyplast (CPL) — concall transcript

📢 Key Event
Q1 FY'27 revenue up 16.3% YoY to ₹81.66 crores, EBITDA up 26.7% to ₹9.86 crores, net profit ₹4.66 crores.

🔄 What Changed
EBITDA margin expanded 99 basis points to 12.07% and net profit improved despite geopolitical headwinds; solar EPC order book grew with 1,500 pump orders secured.

🔮 What's Next
Full impact of raw material price revisions expected by Q3 FY'27; solar EPC contribution to reach 50% of segment revenue within 3 years; Ahmedabad facility to drive 1-1.5% margin improvement over 2-3 years.

💡 Investor Takeaway
The company is leveraging its micro-irrigation dealer network to scale solar EPC, with margin expansion expected from volume growth and internalized component manufacturing.

Captain 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 expanding 99 basis points to 12.07%. Net profit stood at ₹4.66 crores, diluted EPS at ₹0.78. Management highlighted growth in micro-irrigation (30-year market presence across 16 states, 750 dealers) and solar EPC expansion, including 1,500 pump orders from MSEDCL (800 completed, 700 pending). A new 70,000 sq. ft. manufacturing facility near Ahmedabad is ramping up to support micro-irrigation components and improve margins. Raw material prices (LLDP, HDPE) stabilized after a 50% peak, with 30-35% increases passed on in free-pricing markets; Gujarat subsidies revised, other states expected by Q2, with full impact in Q3. Working capital remains elevated due to growth, but receivables expected to improve in H2. Export growth is modest, driven by new customer acquisition, and solar pumps are positioned to contribute 50% of solar EPC revenue within 3 years.

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About Captain Polyplast Ltd (CPL)

Chemicals · Plastic products · Listed on BSE

Market Cap: ₹389.24 Cr P/E: 13.7 ROE: 19.5% ROCE: 21.8%

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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