Captain Polyplast Bags ₹47 Cr Order from MSEDCL for 2,000 Solar Pumps

Rajkot (Gujarat) [India], September 17: Captain Polyplast Limited (CPL, BSE: 536974), one of the leading manufacturers and exporters of micro irrigation solutions, with a diversified presence in the solar EPC market, is pleased to announce the receipt of an order for 2,000 solar pumps under the PM KUSUM B scheme from Maharashtra State Electricity Distribution Company Limited (MSEDCL), with an order value of ₹47 Cr (inclusive of GST).

The MSEDCL order strengthens Captain Polyplast Limited’s position in the solar EPC segment, enhances order book visibility, and supports the Company’s growth in solar pumping solutions under the PM-KUSUM scheme.

Order at a Glance:

· Awarded by: Maharashtra State Electricity Distribution Company Limited (MSEDCL)

· Scope of work: Design, Manufacture, Supply, Installation, Testing and Commissioning of 2,000 Off- Grid DC Solar Photovoltaic Water Pumping Systems under PM Kusum B Scheme

· Nature of order: Domestic

· Order value: ₹47 Cr (inclusive of GST)

Business Significance:

This order from MSEDCL further strengthens Captain Polyplast Limited’s presence in the government-driven solar EPC segment, with repeat and scaled-up orders validating its execution capabilities and solar pumping solutions. With 2,000 pumps to be installed across identified farmer sites in Maharashtra, the order supports the Government’s focus on sustainable irrigation while meaningfully strengthening CPL’s solar EPC order book and near-term revenue visibility. Favourable PM-KUSUM policy tailwinds and a growing pipeline of government tenders provide further scope for the Company to scale its presence in the segment.

Commenting on the order win Mr. Ritesh Khichadia, a Whole Time Director of Captain Polyplast Limited said, “We are delighted to receive this order from MSEDCL for 2,000 solar pumps worth ₹47 Cr – our largest single solar EPC order to date. This order reflects the growing confidence that MSEDCL and the broader government ecosystem continue to place in our solar EPC execution capabilities. Having successfully executed previous orders from MSEDCL, we are well-equipped to scale up and deliver this order within the stipulated timelines.Solar water pumping is a high-priority segment under the PM-KUSUM scheme, and we have been steadily building our capabilities to capture opportunities of this scale. We remain committed to delivering quality solutions on time and creating sustainable value for all our stakeholders. With a strong distribution network, favourable policy tailwinds, and a rapidly expanding solar EPC order book, we are well-positioned to accelerate our growth trajectory in the years ahead.”

About Captain Polyplast Limited

Captain Polyplast Limited is one of the leading players in the micro-irrigation industry, specializing in the manufacturing and export of equipment for a diverse range of agricultural applications. Established

in 1997, the Company leverages over 25 years of expertise and operates manufacturing facilities in Rajkot (Gujarat) and Kurnool (Andhra Pradesh). It has built a strong distribution network spanning 16 states across India and exports to markets in Africa, Latin America, and the Middle East.

In recent years, CPL has diversified into the fast-growing solar EPC segment, focusing on solar water pumping systems and rooftop solar solutions, supported by strong government initiatives such as the PM-KUSUM scheme. The Company has also partnered with Indian Oil Corporation Limited (IOCL) for polymer product marketing in Gujarat, further strengthening its business portfolio.

The Ahmedabad plant, which has now commenced operations, spans ~70,000 sq. ft. and is expected to enhance manufacturing efficiency and profitability by enabling in-house production of critical components, thereby improving capacity utilization.

Looking ahead, CPL aims to increase the share of commercial sales, including non-subsidy micro-irrigation, PVC pipes, and exports, to optimize working capital. It also plans to expand its domestic and international footprint, while growth in the solar EPC vertical is expected to further diversify the revenue mix.

With a strong focus on strategic partnerships, operational excellence, and product quality, CPL is well-positioned to enhance its manufacturing capabilities and strengthen its leadership in the micro-irrigation and renewable energy sectors.

In FY26 (Consolidated), Captain Polyplast Limited reported Total Income of ₹419.75 Cr, EBITDA of ₹46.32 Cr, and Net Profit of ₹27.26 Cr.