Captain Polyplast Ltd
Captain Polyplast Q2 FY26: Order Book ₹14 Cr
Q2 FY26 earnings call: what management said on revenue, margins and capex.
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The short version
Captain Polyplast targets a 25% growth over the next three years in the micro-irrigation business, outpacing the industry growth of around 15%. Captain Polyplast targets 25% growth in the micro-irrigation business over the next three years, outpacing the industry growth of ~15%. - Solar EPC business is expected to grow aggressively, aiming to increase its contribution from 15% to 50% of total revenue by FY2028. - EBITDA margins for micro-irrigation are expected to improve by 1% to 1.5% with full absorption of the Ahmedabad plant; overall margins may improve by 0.5% to 1% depending on segment mix. - Operating cash flow may see short-term pressure in H1 due to working capital cycles but expected to recover in H2 each year. - EPS grew in Q2 FY2026 to Rs.
From Captain Polyplast Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Captain Polyplast targets a 25% growth over the next three years in the micro-irrigation business, outpacing the industry growth of around 15%.
- Growth will come from expanding dealer networks and market share gains in existing markets, as the company is already present in most states.
- Solar EPC business, particularly the solar pumps segment, is expected to grow aggressively, with solar EPC revenues projected to increase from around 15% of total business to 50% by FY2028.
- The solar pumps market opportunity is significant, with ongoing participation in large tenders (e.g., Maharashtra's 1 lakh pumps).
2 more points from Captain Polyplast Ltd's call on revenue
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Profitability & Margins
See what Captain Polyplast Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Captain Polyplast is undertaking a capex of around Rs. 10 Crores for a new plant in Ahmedabad.
- The Ahmedabad plant focuses on manufacturing irrigation components like valves, drippers, and nozzles, constituting about 10% of the total system cost.
- Most of this capex has already been incurred in the current financial year; the balance will be incurred in the second half (H2).
- Funding for this capex will be partly through internal accruals and partly through debt, though the debt component will be small due to the relatively small capex size.
2 more points from Captain Polyplast Ltd's call on capex
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Top-ranked in Industrial Products
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- At the end of H1 FY2026, the solar pumps business had an order book of around Rs.14 Crores.
- The company has participated in a tender in Maharashtra for 1 lakh solar pumps, with order eligibility results expected in the first week of December 2025.
- The rooftop solar EPC segment does not have an extensive order book due to execution of routine orders within top customers.
2 more points from Captain Polyplast Ltd's call on order book
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Captain Polyplast Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹106 Cr, net profit ₹4 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Captain Polyplast Ltd's management said in earlier quarters
Others in Industrial Products this season
- Lead Reclaim and Rubber Products Ltd (Q2 FY26)
Revenue from Operations for H1 FY26: ₹2,190 lakhs, up 138.04% YoY (from ₹920 lakhs in H1 FY25) (Page 19) . Key investor presentation takeaways from Lead Reclaim
- Shubhshree Biofuels Energy Ltd (Q2 FY26)
Revenue from operations for H1 FY26: ₹9,604.6 Lakhs . Key investor presentation takeaways from Shubhshree Biofuels Energy Ltd's Q2 FY26 investor presentation —
- De Neers Tools Ltd (Q2 FY26)
H1FY26 Net Sales:** ₹670.4 Mn . Key investor presentation takeaways from De Neers Tools's Q2 FY26 investor presentation — and how it ranks against sector peers.
- WOL 3D India Ltd (Q2 FY26)
Revenue from Operations for H1FY26 is Rs 415 Mn, up 82% YoY from Rs 227 Mn in H1FY25 (Page 9, Page 5). Key investor presentation takeaways from WOL 3D India Ltd
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Captain Polyplast Ltd Q2 FY26 results?
Captain Polyplast targets a 25% growth over the next three years in the micro-irrigation business, outpacing the industry growth of around 15%. Captain Polyplast targets 25% growth in the micro-irrigation business over the next three years, outpacing the industry growth of ~15%. - Solar EPC business is expected to grow aggressively, aiming to increase its contribution from 15% to 50% of total revenue by FY2028. - EBITDA margins for micro-irrigation are expected to improve by 1% to 1.5% with full absorption of the Ahmedabad plant; overall margins may improve by 0.5% to 1% depending on segment mix. - Operating cash flow may see short-term pressure in H1 due to working capital cycles but expected to recover in H2 each year. - EPS grew in Q2 FY2026 to Rs.
What is Captain Polyplast Ltd share price analysis?
Captain Polyplast Ltd currently shows a neutral. The stock trades at a P/E of 15.8 with a market cap of ₹439 Cr. Investors should review the full earnings analysis for detailed insights.
Is Captain Polyplast Ltd planning capital expenditure?
Captain Polyplast is undertaking a capex of around Rs.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.