Captain Polyplast Limited, established in 1997, manufactures and exports micro-irrigation equipment designed to improve water efficiency in agriculture. Their extensive distribution network covers 16 Indian states, expanding globally to Africa, Latin America, and the Middle East.

The company is diversifying into the solar EPC market, indicating a strategic shift towards renewable energy solutions. This vertical has shown growth with strategic government contracts under schemes like PM-KUSUM.

Strong financial performance with a 48% YoY increase in Q2 FY26 revenue, indicating robust demand across micro-irrigation and solar EPC sectors despite economic headwinds.

Capacity expansion is underway with a new plant near Ahmedabad, focusing on producing components previously outsourced, expected to boost margins by 1% to 1.5% upon full utilization.

Government subsidies and GST reductions on micro-irrigation and solar equipment offer tailwinds, poised to enhance affordability and demand in the coming quarters.