BSE listed Captain Polyplast Ltd. Intends to aggressively increase its 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.
Ramesh Khichadia, Chairman and Managing Director said, “Our venture 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.” He further added, “With the thrust of the government on renewable energy segment and drip irrigation, we are set on a upward growth trajectory in coming years.”
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.
With regards to it core business vertical – micro irrigation solutions, the shift towards technology driven solution is the acceptable norm in agriculture sector. The Government of India has come forward to provide significant support towards irrigation crisis through Pradhan Mantri Krishi Sinchai Yojana. This plan has proposed an investment of Rs.50,000 crore over the next five years, where in the micro-irrigation flagship scheme will be integrated as a key project. These positive developments in terms of policy and investments from government will aid the growth of the company.
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. The company recently reported operating revenue of Rs.64.3 crore, up 30.3% YOY, mainly driven by higher demand for products. In line with this, EBITDA grew by 3.0% YOY to Rs.7.4 crore. Net profit after tax reported at Rs.2.6 crore, a growth of 12.5% YOY.
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