Captain Polyplast Limited FY24 Net Profit Up By 195 Percent

Mumbai (Maharashtra) [India], May 28: 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 and polymer markets. The Company reported its Audited financials for FY24.

Key Financial Highlights (Consolidated)

Consolidated Key Financial Highlights Q4 FY24

Total Income of ₹ 69.79 Cr, YoY change of -5.66%

EBITDA of ₹ 9.65 Cr, YoY growth of 26.80%

EBITDA Margin of 13.82%, YoY growth of 354 Bps

Net Profit of ₹ 4.85 Cr, YoY growth of 73.13%

Net Profit Margin of 6.95%, YoY growth of 313 Bps

EPS of ₹ 0.94, YoY growth of 67.86%

Consolidated Key Financial Highlights FY24

Total Income of ₹ 297.70 Cr, YoY growth of 30.87%

EBITDA of ₹ 35.16 Cr, YoY growth of 77.95%

EBITDA Margin of 11.81%, YoY growth of 312 Bps

Net Profit of ₹ 17.78 Cr, YoY growth of 194.78%

Net Profit Margin of 5.85%, YoY growth of 323 Bps

EPS of ₹ 3.43, YoY growth of 190.68%

Key Highlights For FY24:

In FY 2024, we achieved strong financial performance with our highest-ever revenue of ₹ 297.70 Cr and a profit of ₹ 17.78 Cr, marking a historic milestone for our company.

The revenues from micro irrigation system and allied products contributed ₹ 297.70 Cr, increased by 31% from the previous year.

Commenting on the performance Mr. Ritesh Khichadia, a Whole Time Director of Captain Polyplast Limited said,” “We are pleased to report a commendable growth trajectory for FY24 backed by strong demand for our products. Additionally, our strategies and stringent cost control measures resulted in impressive growth in profitability margin expanding our bottomline by 195%.

We have taken various strategic initiatives including sales diversification, optimum capacity utilization, enhancing regional presence, and focus on solar EPC vertical. During the year, we acquired industrial land near Ahmedabad for future expansion. We have commenced construction of a factory shed at the site and plan to start commercial production at the new location by the end of FY25.

Our empanelment as a vendor with the Ministry of New and Renewable Energy further paves the way for our entry into government projects, opening new avenues for growth and collaboration in the renewable energy sector.

These strategic initiatives underpin our commitment to sustaining our growth momentum and expanding our market presence, ensuring long-term value creation for our stakeholders.”

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