Contract Award Details
Awarding Entity: Maharashtra State Electricity Distribution Company Limited (MSEDCL)
Contract Type: Domestic entity
Contract Value: ₹47 crores approximately (including GST)
Scope of Work
The contract involves Design, Manufacture, Supply, Transport, Installation, Testing and Commissioning of 2000 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) of 3HP, 5 HP & 7.5 HP capacity at identified farmer's sites in Districts of Maharashtra. The scope includes complete system warranty and its repair and maintenance and Remote Monitoring System (RMS) for 5 years under PM Kusum B Scheme "Magel Tyala Saur Krushi Pump" Yojana.
Timeline Requirements
Installation must be completed within 60 days from the date of issuance of NTP/Work Order/JSR approval.
Related Party Considerations
The disclosure confirms that neither the promoter/promoter group/group companies have any interest in MSEDCL, and the order does not constitute a related party transaction.
Business Significance
This order represents Captain Polyplast's largest single solar EPC order to date and strengthens the company's position in the government-driven solar EPC segment. The order enhances order book visibility and supports growth in solar pumping solutions under the PM-KUSUM scheme.
Management Commentary
Mr. Ritesh Khichadia, Whole Time Director, stated that the order reflects growing confidence from MSEDCL and the government ecosystem in the company's solar EPC execution capabilities, noting that the company has successfully executed previous orders from MSEDCL.
Company Background
Captain Polyplast Limited is a leading manufacturer and exporter of micro irrigation solutions with diversified presence in solar EPC market. The company operates manufacturing facilities in Rajkot (Gujarat) and Kurnool (Andhra Pradesh), with a new Ahmedabad plant spanning ~70,000 sq. ft. now operational.
Financial Reference
FY26 Consolidated performance: Total Income of ₹419.75 Cr, EBITDA of ₹46.32 Cr, and Net Profit of ₹27.26 Cr.