Captain Polyplast Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹359 Cr
- P/E
- 12.75
- ROE
- 16.30%
- PEG
- 0.19
- Price to sales
- 0.84
- Debt to equity
- 0.47
- 52W high / low
- ₹87.3 / ₹54.2
- Sales growth (5Y)
- 18.57%
- EBITDA margin
- 10.71%
- Net profit margin
- 6.66%
- Promoter holding
- 68.79%
- Sales (last year)
- ₹429 Cr
Incorporated in 1997, Captain Polyplast Ltd does manufacturing of forged and machined bearing rings and automotive components[1]
Guidance scorecard · Q2 FY27 call
What Captain Polyplast Ltd's management guided
and where it ranks in Industrial Products
RevenueQ1 FY27 call
10–20%- Solar pumps expected to be a major growth driver, with planned expansion beyond Maharashtra into states like Rajasthan, Jharkhand, Karnataka, Haryana.
- Solar EPC segment projected to contribute 50% to overall business within next 3 years.
- Micro-irrigation business focuses on gaining market share in existing strong states and expanding dealer network in under-penetrated Northern and Eastern states.
- Growth in exports expected from new customers and new markets, beyond existing base.
- Ramp-up of Ahmedabad manufacturing facility over next 2-3 years to support volume growth and improve margins by 1%-1.5%.
- Volume growth in both micro-irrigation and solar pump segments seen as key margin drivers.
2 more points from Captain Polyplast Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Captain Polyplast Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Captain Polyplast has recently commenced a new production facility near Ahmedabad, Gujarat, spanning 70,000 sq. ft.
- The Ahmedabad facility focuses on in-house manufacturing of critical components like valves, connectors, and accessories for micro-irrigation systems, which currently comprise about 10% of system value.
- The ramp-up and full replacement of outsourced components at this facility is expected to take 2-3 years.
- Once fully operational, Ahmedabad plant is anticipated to improve EBITDA margins by 1%-1.5% for micro-irrigation business.
- No current bottlenecks are expected in manufacturing capacity for micro-irrigation; existing infrastructure supports growth up to Rs. 600 crores.
2 more points from Captain Polyplast Ltd's call on capex
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FundraisingQ1 FY27 call
See what Captain Polyplast Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Captain Polyplast received orders for 1500 solar pumps in the first 4 months of FY '27 from MSEDCL (500 and then 1000 pumps).
- As of the call date, around 800 solar pumps have been completed.
- The pending order book stands at approximately 700 solar pumps, expected to be completed by the end of the month.
- For PM-KUSUM projects, the company is empanelled in Maharashtra and Gujarat; it is awaiting tenders in other states expected to be floated by September.
2 more points from Captain Polyplast Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
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.
Peers
Industrial Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹532 Cr | 21.2 | |
| 2 | 40%+ | Up 2%+ | ₹450 Cr | 13.2 | |
| 3 | 40%+ | Up 2%+ | ₹371 Cr | 26.1 | |
| 4 | 40%+ | Up 0–2% | ₹1,340 Cr | 32.9 | |
| 5 | 40%+ | Up 0–2% | ₹1,196 Cr | 14.1 | |
| 6 | 40%+ | Flat | ₹966 Cr | 25.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products rankingFinancials of Captain Polyplast Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Captain Polyplast Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 66.50% | 68.08% | 69.52% | 69.52% | 69.52% | 68.64% | 69.37% | 69.09% | 69.09% | 68.79% | 68.79% | 68.79% |
| Public + | 33.50% | 31.92% | 30.49% | 30.48% | 30.47% | 31.36% | 30.62% | 30.93% | 30.91% | 31.21% | 31.20% | 31.21% |
| No. of Shareholders | 18,374 | 18,270 | 17,929 | 22,031 | 22,611 | 22,816 | 22,084 | 21,393 | 20,207 | 19,568 | 19,394 | 18,752 |
Financials of Captain Polyplast Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 70.33 | 82.60 | 68.77 | 64.89 | 53.26 | 90.25 | 78.45 | 69.74 | 79.73 | 126.33 | 141.47 | 81.16 | 105.94 |
| Expenses + | 63.34 | 73.77 | 60.15 | 58.85 | 47.42 | 78.95 | 70.53 | 62.44 | 71.84 | 111.10 | 128.05 | 71.80 | 96.15 |
| Operating Profit | 6.99 | 8.83 | 8.62 | 6.04 | 5.84 | 11.30 | 7.92 | 7.30 | 7.89 | 15.23 | 13.42 | 9.36 | 9.79 |
| OPM % | 9.94% | 10.69% | 12.53% | 9.31% | 10.97% | 12.52% | 10.10% | 10.47% | 9.90% | 12.06% | 9.49% | 11.53% | 9.24% |
| Other Income + | 0.96 | 1.20 | 1.29 | 1.25 | 16.61 | 0.82 | 0.80 | 0.63 | 0.48 | 0.98 | 0.90 | 0.51 | 0.57 |
| Interest | 2.65 | 2.84 | 2.93 | 2.55 | 2.59 | 2.42 | 1.26 | 1.83 | 1.82 | 2.87 | 0.72 | 2.18 | 2.77 |
| Depreciation | 0.59 | 0.61 | 0.62 | 0.59 | 0.62 | 0.65 | 0.65 | 0.59 | 0.66 | 0.68 | 0.67 | 0.76 | 1.00 |
| Profit before tax | 4.71 | 6.58 | 6.36 | 4.15 | 19.24 | 9.05 | 6.81 | 5.51 | 5.89 | 12.66 | 12.93 | 6.93 | 6.59 |
| Tax % | 19.53% | 24.47% | 21.23% | 22.65% | 15.44% | 25.64% | 24.82% | 21.96% | 28.01% | 25.20% | 24.52% | 32.76% | 32.17% |
| Net Profit + | 3.79 | 4.97 | 5.02 | 3.20 | 16.27 | 6.73 | 5.12 | 4.30 | 4.24 | 9.48 | 9.76 | 4.66 | 4.48 |
| EPS in Rs | 0.75 | 0.99 | 0.95 | 0.58 | 2.94 | 1.22 | 0.89 | 0.72 | 0.71 | 1.58 | 1.62 | 0.77 | 0.74 |
Financials of Captain Polyplast Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 99 | 135 | 115 | 125 | 149 | 186 | 178 | 185 | 225 | 294 | 287 | 417 | 455 |
| Expenses + | 86 | 119 | 99 | 110 | 131 | 158 | 152 | 170 | 208 | 263 | 254 | 371 | 407 |
| Operating Profit | 13 | 16 | 16 | 15 | 18 | 28 | 26 | 15 | 17 | 32 | 33 | 46 | 48 |
| OPM % | 13% | 12% | 14% | 12% | 12% | 15% | 14% | 8% | 8% | 11% | 11% | 11% | 11% |
| Other Income + | 1 | 1 | 0 | 2 | 1 | 3 | 1 | 2 | 3 | 5 | 19 | 3 | 3 |
| Interest | 7 | 7 | 6 | 6 | 7 | 10 | 10 | 10 | 9 | 11 | 10 | 9 | 9 |
| Depreciation | 3 | 3 | 2 | 2 | 2 | 4 | 4 | 4 | 3 | 2 | 2 | 3 | 3 |
| Profit before tax | 4 | 6 | 8 | 8 | 10 | 17 | 12 | 4 | 8 | 23 | 39 | 37 | 39 |
| Tax % | 36% | 33% | 35% | 34% | 27% | 27% | 27% | 28% | 26% | 23% | 20% | 25% | |
| Net Profit + | 2 | 4 | 5 | 6 | 7 | 13 | 9 | 3 | 6 | 18 | 31 | 28 | 28 |
| EPS in Rs | 0.46 | 0.75 | 0.98 | 1.09 | 1.43 | 2.50 | 1.80 | 0.55 | 1.20 | 3.36 | 5.44 | 4.62 | 4.71 |
| Dividend Payout % | -0% | 11% | 8% | 4% | 3% | 2% | 2% | 7% | -0% | -0% | -0% | -0% |
Financials of Captain Polyplast Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 11 | 12 | 12 | 12 |
| Reserves | 12 | 14 | 19 | 23 | 31 | 43 | 52 | 56 | 62 | 85 | 138 | 179 | 189 |
| Borrowings + | 22 | 25 | 24 | 34 | 63 | 74 | 86 | 85 | 82 | 103 | 67 | 89 | 116 |
| Other Liabilities + | 36 | 47 | 49 | 41 | 75 | 84 | 62 | 60 | 74 | 69 | 62 | 67 | 72 |
| Total Liabilities | 79 | 96 | 101 | 109 | 178 | 211 | 211 | 211 | 228 | 267 | 278 | 348 | 389 |
| Fixed Assets + | 14 | 12 | 11 | 11 | 11 | 19 | 18 | 15 | 14 | 15 | 14 | 20 | 27 |
| CWIP | 0 | 0 | -0 | 0 | 7 | -0 | 0 | 0 | -0 | 0 | 3 | 4 | -0 |
| Investments | 2 | 2 | 5 | 5 | 5 | 5 | 5 | 3 | 4 | 5 | 3 | 4 | 4 |
| Other Assets + | 63 | 82 | 85 | 94 | 155 | 188 | 187 | 193 | 210 | 247 | 258 | 321 | 359 |
| Total Assets | 79 | 96 | 101 | 109 | 178 | 211 | 211 | 211 | 228 | 267 | 278 | 348 | 389 |
Financials of Captain Polyplast Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 12 | 7 | 10 | -8 | -6 | -0 | 0 | 12 | 12 | -13 | 8 | -22 |
| Cash from Investing Activity + | -3 | -0 | -3 | -0 | -8 | 1 | -1 | 4 | -1 | -3 | 14 | -7 |
| Cash from Financing Activity + | -9 | -5 | -8 | 6 | 15 | 0 | 0 | -14 | -12 | 16 | -21 | 29 |
| Net Cash Flow | -1 | 1 | -1 | -3 | 0 | 2 | -1 | 2 | -0 | 0 | 1 | -0 |
| Free Cash Flow | 9 | 6 | 9 | -10 | -15 | -2 | -2 | 11 | 11 | -17 | 3 | -31 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 98% | 50% | 82% | -40% | -16% | 14% | 17% | 91% | 67% | -23% | 54% | -28% |
Financials of Captain Polyplast Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 143 | 139 | 163 | 152 | 221 | 186 | 230 | 214 | 190 | 219 | 237 | 211 |
| Inventory Days | 88 | 86 | 111 | 96 | 112 | 105 | 106 | 100 | 96 | 61 | 71 | 49 |
| Days Payable | 165 | 161 | 187 | 128 | 176 | 215 | 122 | 105 | 120 | 87 | 84 | 59 |
| Cash Conversion Cycle | 67 | 65 | 87 | 119 | 158 | 76 | 214 | 209 | 166 | 193 | 224 | 200 |
| Working Capital Days | 35 | 27 | 30 | 45 | 44 | 63 | 107 | 126 | 108 | 104 | 163 | 142 |
| ROCE % | 28% | 27% | 24% | 20% | 24% | 16% | 9% | 12% | 19% | 16% | 19% |
Guidance history
How Captain Polyplast Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | — | Rising |
| Q4 FY26 call → | 20–40% | Up 0–2% | None planned | — | Rising |
| Q3 FY26 call → | 20–40% | Flat | Planned | — | Rising |
| Q2 FY26 call → | 20–40% | Up 0–2% | Planned | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
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What Captain Polyplast Ltd's management said in earlier quarters
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