• Small-cap firm Captain Polyplast Limited operates in the industrial sector and has a market valuation of ₹92.95 Crore.
Captain Polyplast Limited, a Small-cap firm operating in the industrial sector, has a market valuation of ₹92.95 Crore. The company, which has one of the strongest distribution networks and one of the highest quality product lines in the micro-irrigation segment, posted strong earnings for the quarter and nine months ended December 31, 2022.
The firm announced its highest-ever quarterly revenue, which grew 69% year-on-year to Rs 74.5 crore in Q3 FY2023. Net profit for the quarter grew 6.6 times to Rs 2.5 crore. Captain Polyplast said in a statement that the strong growth in topline is a result of increased demand for micro irrigation systems in most of the states where it is active. The company further said that with positive developments for the industry, it aims to register healthy revenue and profit growth in the coming quarters.
“Our impressive earnings for the last quarter is a testament to our company's flexibility and ability to adapt to changing market conditions,” said Mr. Ramesh Kichadia, Managing Director, Captain Polyplast Limited. We are extremely proud of the hard work and dedication of our team. , and we are grateful for their contribution to our success. As we move forward, we remain committed to our strategy of growth and innovation, and we look forward to continued success in the future."
With an aim to encourage farmers to use drip and sprinkler irrigation systems, the central government has provided funds under the PMKSY (Pradhan Mantri Krishi Sinchayee Yojana) and Atal Bhujal Yojana initiatives. The micro irrigation sector is anticipated to benefit from increased budget allocation from various CSS (Centrally Sponsored Schemes) and state government initiatives, as several important states have also announced increased funding for micro irrigation.
As a pioneer in the field of micro irrigation, Captain Polyplast Ltd. has over 750 dealers across 16 states, the firm has a wide sales network for micro irrigation systems. The company has production facilities at Rajkot (Gujarat) and Kurnool (Andhra Pradesh). The firm also provides solar EPC services apart from micro irrigation. The company's marketing and distribution network is spread across 16 Indian states and accounts for nearly 90% of the country's micro irrigation market. CPL exports its products to Middle East, South America and Africa.
