Captain Polyplast Limited Reported a Consolidated Total Income of Rs 65.67 Cr. For Q1 FY25 – World News Network

Last updated: August 15, 2024 12:00 am

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PNN
Mumbai (Maharashtra) [India], August 15: Captain Polyplast Limited (CPL, BSE: 536974), is a leading manufacturer and exporter of micro irrigation solutions, and has diversified its operations into the burgeoning solar EPC. The Company reported its Unaudited financials for Q1 FY25.
Consolidated Key Financial Highlights Q1 FY25
– Total Income of Rs 65.67 Cr
– EBITDA of Rs 6.82 Cr
– EBITDA Margin of 10.39 per cent
– PAT of Rs 3.20 Cr
– PAT Margin (%) of 4.88 per cent
– EPS of Rs 0.61
Commenting on the performance, Ritesh Khichadia, a Whole Time Director of Captain Polyplast Limited, said, “We are happy to report financials for Q1 FY25. The total income for the quarter was Rs 65.67 crores, which was a decline of 10.5 per cent. The decline in the revenue was primarily due to The Micro Irrigation Systems (MIS) segment. It was impacted this quarter due to a pause in new work orders in key states during the general elections. We anticipate a recovery in the MIS segment starting Q2, with Andhra Pradesh expected to play a significant role. The new government’s aggressive plan to cover 3 lakh hectares under MIS and increased budget allocation for the APMIP project should provide a strong boost to the industry in the state.
The positive highlight during the quarter was strong growth in the solar EPC segment, which helped offset some of the impact of the decline from the MIS segment. The solar EPC segment growth resulted from strong demand in the residential sector driven by the PM Surya Ghar Yojna. We continue to focus aggressively in this segment by expanding coverage in more regions.
The progress of construction of the new plant near Ahmedabad remains on track, as previously announced. We are committed to implementing strategic initiatives aimed at enhancing our performance and driving long-term growth.”
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