Captain Polyplast Secures ₹23.6 Cr Order from MSEDCL for 1,000 Solar Water Pumping Systems
Captain Polyplast Limited has secured a contract with Maharashtra State Electricity Distribution Company Limited (MSEDCL) worth approximately ₹23.6 Crore to supply and commission 1,000 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS). The order falls under the PM Kusum B Scheme ('Magel Tyala Saur Krushi Pump' Yojana), marking a significant development in the company’s solar EPC portfolio.The contract involves the complete scope of work for 1,000 systems identified across various farmer sites in Maharashtra. This includes design, manufacture, supply, transport, installation, testing, and commissioning of the SPWPS, which range from 3HP, 5 HP, and 7.5 HP capacities. The contract also specifies a five-year warranty covering repair and maintenance, along with a Remote Monitoring System (RMS).
The order is domestic in nature, valued at ₹23.6 Cr, inclusive of GST. Captain Polyplast Limited is set to complete the installation process within 60 days from the date of receiving the NTP/Work Order/JSR approval.
Key Details of the MSEDCL Contract
| Particulars | Details |
|---|---|
| Awarding Entity | Maharashtra State Electricity Distribution Company Limited (MSEDCL) |
| Order Value | ₹23.6 Cr (including GST) |
| Scope of Work | Design, Manufacture, Supply, Installation, Testing and Commissioning of 1,000 Off-Grid DC Solar Photovoltaic Water Pumping Systems ('SPWPS') |
| Program/Scheme | PM Kusum B Scheme ('Magel Tyala Saur Krushi Pump' Yojana) |
| Order Type | Domestic Entity |
Reinforcing Presence in Government EPC Segment
The contract with MSEDCL reinforces Captain Polyplast Limited’s capabilities within the government-led solar EPC segment. By supplying these large-scale solutions to farmers across Maharashtra, the company contributes to India's focus on sustainable and clean energy-driven agriculture. The order enhances the Company's near-term revenue visibility and strengthens its foothold in the renewable energy market.Mr. Ritesh Khichadia, a Whole Time Director at Captain Polyplast Limited, commented on securing the deal with MSEDCL. He stated that the order reaffirms their strong execution capabilities and the confidence placed in them by government utilities. The business, focused on the design, supply, installation, testing, and commissioning of 1,000 solar water pumping systems valued at ₹23.6 Cr, is an important step in strengthening their presence in the solar EPC segment.
Company Overview and Financial Standing
Captain Polyplast Limited operates as a key player in the micro-irrigation industry, specializing in manufacturing and export. Established in 1997, the company maintains manufacturing operations in Rajkot (Gujarat) and Kurnool (Andhra Pradesh), supported by a distribution network spanning 16 states across India.The company has been diversifying into the solar EPC segment, focusing on water pumping systems and rooftop solar solutions, driven by government initiatives such as PM-KUSUM. 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.
Stock Price Movement
On Monday's close, shares of Captain Polyplast Ltd finished at ₹70.92, edging higher by 0.45%. The stock navigated an intraday range that spanned from a low of ₹69.28 to a peak high of ₹71.71.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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