Captain Polyplast Ltd. Announces Foray into Solar EPC Segment

BSE listed Captain Polyplast Limited (CPL) (BSE: 536974) one of the leading brands in  micro irrigation industry with its excellent quality products and strong distribution network ,has announced aggressive focus of the company in expanding presence in solar EPC segment in addition to its core business of micro irrigation. This foray into solar EPC segment complements company's focus on sustainable products/technologies and would help it to participate in government's drive for expanding renewable energy capacity in India by 175 GW till 2022.

The company has set up dedicated teams for solar EPC project across the county for retail, commercial and large-scale project applications.

It has successfully completed solar EPC projects with capacity of more than 1,500KW across 340+ customers so far. Currently, the company has an order in pipeline of 5,000KW and additional projects are expected to be finalized and executed in this financial year.

According to a recent market survey, the global solar energy market was valued at $52.5 billion in 2018 and is projected to reach $223.3 billion by 2026, growing at a CAGR of 20.5%. The Government of India has set a target to expand renewable energy capacity in India to  175 GW by 2022.

With the thrust of the Modi Govt on renewable energy segment and drip irrigation, Captain Polyplast Ltd. is all set to grow with a fast pace.

Has announced Excellent results with revenues  from operations up from Rs. 3990.20 lakhs (Q3FY21) rose to Rs. 6482.44 Lakhs (Q4FY21) and PAT rose from Rs. 177.56 Lakhs (Q3FY21) to Rs. 258.52 Lakhs (Q4FY21) CPL .

The company has announced a dividend also.It has a complete range of micro irrigation solutions with manufacturing facilities at Rajkot (Gujarat) and Kurnool (Andhra Pradesh). The company has marketing and distribution network across 16 states in India which cover ~90% of micro irrigation market in India. CPL exports its products to countries in Africa, Latin America and Middle East.

The company deals in 4 main business segments, which are, Drip Irrigation system, Sprinkler Irrigation Systems, Polymer marketing (IOCL) and others (Solar, Water soluble fertilizers). The company manufacturers complete range of micro irrigation systems and have also added ancillary products like solar pumps, rooftop solar, water soluble fertilizer, etc. selling through existing distribution network. 

Captain Polyplast offers superior sprinkler irrigation system that is designed considering the crops grown, availability of water and its composition, type of soil, elevation, temperature, humidity and wind velocity in order to get the best possible results. Mini sprinklers simplicity and modular design allows for easy accessory options making them adaptable to almost any application and crop.

Designed by Captain Polyplast, Solar water pumps are considered simple and clean alternative to fuel burning engines as well as generators of domestic water, irrigation and livestock requirements. The company offers best solar pumps  variants that include Captain AC Solar Surface pump, Solar Submersible and Submersible Solar Water Pumps without battery. Solar Pumping systems generates electricity from sunlight by directly utilizing the current from the array efficiently. 

The flow rate of the solar photovoltaic (SPV) water pumping systems is determined by the intensity of sun as photovoltaic panels power them. These equipment's require low maintenance and works without any demand for fuel. Captain Solar Pumping systems are easy to install and can function effectively even in places with no or limited grid power. The company is well placed to cross-sell these equipment’s and provide these services to the farmers they have built relationship with. 

Captain was appointed as Del Credere Associate (DCA) and Consignment Stockiest (CS) of Indian Oil Corporation Ltd (IOCL) which entitles CPL to market the entire portfolio of IOCL’s polymer products (raw material for plastic processors) in Gujarat. One of the main raw materials for Captain is polyethylene, and this strategic tie up with IOCL would marginally reduce the cost of raw materials and improve the EBITDA margins for the company. 

The company has been awarded “Star Performer Award” from lndian Oil Corporation Ltd. for achieving highest sales of Polymer. Going forward, company expects polymer sales to show healthy growth  as this business is projected to grow rapidly as India’s per capita plastic consumption is expected to continue to grow in the coming years whereby Captain will see a rise in revenues and profitability