Captain Polyplast Wins ₹47 Crore MSEDCL Order for 2,000 Solar Pumps
Captain Polyplast Limited (BSE: 536974, NSE: CPL) has received an order from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the design, manufacture, supply and installation of 2,000 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS).
The company announced the order on September 17, 2026, stating that the contract is worth approximately ₹47 crore, including GST.
The order has been awarded under the PM-KUSUM B Scheme – “Magel Tyala Saur Krushi Pump” Yojana and will involve installations at identified farmer sites across districts of Maharashtra.
₹47 Crore Order for 2,000 Solar Pumps
The MSEDCL contract covers 2,000 solar water pumping systems with capacities of:
- 3 HP
- 5 HP
- 7.5 HP
Captain Polyplast will be responsible for the complete project cycle, including design, manufacturing, transportation, installation, testing and commissioning.
The order also includes complete system warranty, repair and maintenance, and a Remote Monitoring System (RMS) for five years.
The total order value is approximately ₹47 crore, inclusive of GST.
Installation to Be Completed Within 60 Days
According to the company’s regulatory disclosure, installation of the solar pumping systems is required to be completed within 60 days from the issuance of the Notice to Proceed (NTP), Work Order or JSR approval, as applicable.
The execution timeline covers installations at identified farmer sites across Maharashtra.
Captain Polyplast Expands Solar EPC Order Book
The company said the MSEDCL order strengthens its position in the solar EPC segment and improves order-book visibility for solar pumping solutions.
Captain Polyplast Whole Time Director Ritesh Khichadia described the contract as the company’s largest single solar EPC order to date and said the company has previously executed MSEDCL orders.
The company also highlighted the government’s PM-KUSUM programme and the growing demand for solar-powered agricultural irrigation as areas supporting its solar EPC business.
Repeat MSEDCL Orders Add to Solar EPC Business
Captain Polyplast said it has previously executed orders from MSEDCL, making the latest contract a scaled-up order in the solar pumping segment.
The company is looking to expand its presence in solar EPC alongside its established micro-irrigation business.
The latest order also provides visibility into the company’s near-term project execution pipeline, although the regulatory disclosure does not specify the order’s profit margin or the exact timing of revenue recognition.
Captain Polyplast’s Business Profile
Captain Polyplast operates primarily in the micro-irrigation industry, manufacturing and exporting equipment for agricultural applications.
The company has manufacturing facilities in Rajkot, Gujarat, and Kurnool, Andhra Pradesh, along with a distribution network across multiple Indian states and export operations in international markets.
In recent years, the company has diversified into solar EPC, particularly solar water pumping systems and rooftop solar solutions.
The company has also expanded its manufacturing capabilities, including operations at its Ahmedabad facility.
FY26 Financial Performance
According to the company’s press release, Captain Polyplast reported the following consolidated financial figures for FY26:
- Total Income: ₹419.75 crore
- EBITDA: ₹46.32 crore
- Net Profit: ₹27.26 crore
These figures were provided by the company in its September 17, 2026 announcement.
Captain Polyplast MSEDCL Order: Key Details
- Company: Captain Polyplast Limited
- NSE Symbol: CPL
- BSE Code: 536974
- Awarding entity: Maharashtra State Electricity Distribution Company Limited
- Order value: Approximately ₹47 crore, including GST
- Number of pumps: 2,000
- Pump capacities: 3 HP, 5 HP and 7.5 HP
- Scheme: PM-KUSUM B – Magel Tyala Saur Krushi Pump Yojana
- Location: Maharashtra
- Execution: Within 60 days from NTP/Work Order/JSR approval
- Warranty/maintenance: Included, with RMS for five years
- Nature: Domestic order
- Promoter interest in awarding entity: No
- Related party transaction: No
Investor Takeaway
Captain Polyplast’s ₹47 crore MSEDCL order is a material development for the company because it represents its largest single solar EPC order, according to management, and covers 2,000 solar pumping systems.
The inclusion of five-year warranty, repair and maintenance and remote monitoring also makes the contract broader than a simple equipment-supply order.
Investors tracking the company should monitor the 60-day installation progress, subsequent revenue recognition, margins and further solar EPC order inflows to assess how the project contributes to the company’s financial performance.
Disclaimer: This article is based on information disclosed by Captain Polyplast Limited to the stock exchanges and information provided in its press release. Statements regarding future growth, policy tailwinds or business prospects are company statements and involve risks and uncertainties. This article is for informational purposes only and should not be considered investment advice or a recommendation to buy or sell any security.