What we do Captain Polyplast Ltd manufactures and sells quality micro irrigation systems and allied products, including drip and sprinkler irrigation, plus polymer business products. |
Founded in 1,997 |
Market share Strong presence in 16 Indian states with over 750 dealers; recognized domestic and export brand in micro irrigation. |
Problem solved Enables water-efficient irrigation solutions to boost agricultural productivity and conserve water resources in water-scarce regions. |
Top clients or who we serve Farmers and agribusinesses across 16 states in India; also serves international markets in Africa, Latin America, Middle East; B2B and B2C. |
Key management Mr. Ramesh D. Khichadia (MD), Mr. Ritesh R. Khichadia (Whole-Time Director, IIT Bombay and IIM Lucknow alumnus) |
Our journey and innovations Incorporated in 1997, IPO in 2013; introduced advanced German and Israeli irrigation tech; expanded into solar EPC services. |
Where we operate India (16 states) with manufacturing in Gujarat and Andhra Pradesh; exports to Africa, Latin America, Middle East. |
Top products or what we offer Drip irrigation systems, sprinklers, PVC & HDPE pipes, irrigation fittings, solar EPC services, agronomical support. |
Top brands Captain – reputed brand in micro irrigation and polymer products with pan-India dealer network and export reach. |
Raw materials needed Polymers and components imported, advanced machinery from Germany and Israel for product manufacturing. |
Raw materials supplier Supplies include international vendors for irrigation components; partnership with Indian Oil Corporation Ltd. for polymer business. |
Recurring vs cyclical contribution Revenue mainly from product sales and service contracts with some seasonality aligned to agricultural cycles. |
Our industry position Recognized leader in micro irrigation with significant market share in India; growing solar EPC segment. |
Financial highlights FY25 revenue ₹286.84 crore; profit after tax ₹31.32 crore; EBITDA ₹35.11 crore; steady growth across years. |
Geographical revenue split Primarily India with exports to Africa, Latin America, and Middle East; strong pan-India dealer network. |
Order book Received significant solar pump orders under government schemes worth ₹35.86 crore in Q3 FY26. |
Whats driving growth Government support via subsidy programs and GST reduction; rising adoption of efficient irrigation and solar pumps. |
Our future plans Constructing new factory near Ahmedabad to expand capacity; focus on solar EPC business growth and geographic expansion. |
Our green promise Uses renewable energy (wind, solar) in plants; provides sustainable irrigation and solar power solutions. |
Our people and values 325 team members focused on quality, innovation, customer service, and sustainability; strong leadership team. |
Key challenges ahead Managing working capital, scaling operations efficiently, and competitive pressures in irrigation and solar markets. |
Interesting facts First to deploy advanced drip irrigation tech from Israel and Germany; ISO 9001:2015 certified; partnered with IOCL. |
Risks and strategy Mitigates raw material supply risks via diversified sourcing; growth strategy emphasizes capacity expansion and market diversification. |
