Earning call Transcript

Date: 17.08.2026 To, To, Department of Corporate Services The Manager Listing Department Listing Department BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers Dalal Street ‘Exchange plaza’, C – Block – G Mumbai—400001 Bandrakurla Complex, Bandra (East) Mumbai – 400051 BSE Script Code: - 536974 NSE Symbol: CPL SECURITY ID: CPL SECURITY CODE: 536974 SUB: TRANSCRIPT OF EARNING CALL HELD ON 11TH AUGUST,2026 Dear Sir/Madam, With reference to the captioned subject, we would like to inform that Transcript of earning call held on 11TH August,2026 has been attached herewith. Please find attached Transcript of earning call held on 11TH August,2026. This is for your information and record. Kindly take same on your records. Thanking You, For Captain Polyplast Limited, Rameshbhai D. Khichadia Managing Director DIN: 00087859 “Captain Polyplast Limited Q1 FY '27 Earnings Conference Call” August 11, 2026 MANAGEMENT: MR. RITESH KHICHADIA – WHOLE-TIME DIRECTOR, CAPTAIN POLYPLAST LIMITED MODERATOR: MR. KARAN THAKUR – KIRIN ADVISORS PRIVATE LIMITED Page 1 of 12 Captain Polyplast Limited August 11, 2026 Moderator: Ladies and gentlemen, good day and welcome to Captain Polyplast Limited Q1 FY '27 Results Conference Call. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing “*” then “0” on your touch- tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Karan Thakur from Kirin Advisors Private Limited. Thank you and over to you. Karan Thakur: Thank you. On behalf of Kirin Advisors, I welcome you all to the Conference Call of Captain Polyplast Limited. From the Management Team, we have Mr. Ritesh Khichadia - Whole-Time Director of the company. With that now, I hand over the call to Mr. Ritesh Khichadia for the opening remarks. Over to you, sir. Ritesh Khichadia: Thank you, Karan. Good afternoon, everyone and thank you for joining us today. As we begin FY '27, I would like to take a moment to reflect on the progress that we have made during this quarter and the initiatives which we have undertaken to strengthen Captain for the next phase of growth. During the first quarter, we continued to strengthen our operations across both of our business segments i.e., the micro-irrigation business and the solar EPC business. Our focus continued to be on improving our execution capabilities, expanding our market presence and building a stronger platform for sustainable growth. As many of you are aware that Captain Polyplast has built a strong position in the micro-irrigation industry with almost 30 years of experience in the manufacturing and exporting of irrigation solutions for diverse agricultural applications. Our manufacturing facilities across Rajkot, Kurnool and Ahmedabad along with our distribution network across 16 states provides us a strong presence across key agricultural markets. So the micro-irrigation business continues to be the backbone of our entire operations. In this business segment, our focus continues to be on strengthening the quality of our revenue mix. Here, we are gradually increasing our emphasis on commercial and non-subsidy sales and sale of allied products. Although the subsidy-led business continues to be an important part of our micro-irrigation business, the greater diversification from non-subsidy business is expected to improve our revenue visibility and also optimize working capital over a period of time. Apart from this, as you all know that we have been steadily building our presence in the fast-growing solar EPC segment, especially in two verticals i.e., solar water pumping systems and rooftop solar solutions. This diversification of revenue is an important part of our strategy as we try to tap into additional growth opportunities and build a more balanced revenue profile. Page 2 of 12 Captain Polyplast Limited August 11, 2026 During this quarter, we had two important order wins in the Solar EPC business. First, we had received an order for 500 solar pumps from MSEDCL and again, in July, last month also, we got another order for 1000 pumps. So all in all, for the first 4 months, we have a total order of 1500 pumps. So this strengthens our order book and also reflects on our execution track record in the MSEDCL large-scale PM Kusum project. Another important milestone during the quarter was the commencement of our production facility spread across 70,000 square feet near Ahmedabad in Gujarat. So this facility strengthens our manufacturing capacity in micro-irrigation business and enables production of critical components and accessories. We expect the ramp-up of this facility to support the efficiency and operational performance as the volumes scale up. Also, as you are aware that in the last month, July 2026, we achieved another important milestone in the capital market where the company is also listed on NSE. So we hope that this enhances our market visibility and improves the accessibility for investors in our company. With this, now I would like to come to the financial highlights of the quarter. For the Q1 FY '27, our total income was Rs. 81.66 crores which is a growth of 16.3% Y-o-Y. The EBITDA for the quarter increased 26.7% to Rs. 9.86 crores and our EBITDA margin also improved by 99 basis points to 12.07%. The net profit was Rs. 4.66 crores while the diluted EPS came in at Rs. 0.78. So I would like to note here that the quarter 1 was particularly impacted by several challenges primarily due to the geopolitical situation. Despite all those headwinds, I am very pleased to say that we have been able to improve on the key financial parameters, both revenue growth and EBITDA margin. So this reflects our focus on execution, improving the efficiency and also our cost optimization initiatives. As we look ahead, our priorities for FY '27 remain clear, ramping up the Ahmedabad manufacturing facility, expanding our solar EPC order book and for the micro-irrigation business, improving our revenue mix. At the same time, on the operational front, we continue to focus on disciplined execution and improving our working capital management. So with this, I would like to conclude the remarks and hand over the call for questions. Thank you. Moderator: Thank you very much. We will now begin the question-and-answer session. The first question is from the line of Rupal Mehta, an Individual Investor. Please go ahead. Ladies and gentlemen, the next question is from the line of Aditi Jain from Wealth Management. Please go ahead. Aditi Jain: Hello. Ritesh Khichadia: Yes, you are audible. Aditi Jain: Yes. So could you just give us some highlights on the current dealer network and whether you see scope for further expansion in under-penetrated markets? Page 3 of 12 Captain Polyplast Limited August 11, 2026 Ritesh Khichadia: Sure. So as I mentioned in my remarks as well, for the micro-irrigation business, we have sales and marketing network across 16 states. And in these states, we have a dealer network of around 750 dealers. In these states, we believe that already we have a very strong network, so there is no need for penetrating further with more dealers. Basically, for the other states where we have lower presence there, we are working on improving the dealer network. Our focus right now is on improving revenue from the existing network. The network which we have built for micro- irrigation, we are also motivating the same dealers to work across solar EPC business as well. So many of these dealers are joining us for solar EPC business, especially for the rooftop business. That is how we are scaling up the solar EPC business in rooftop segment. Aditi Jain: My second question is, on the revenue side, given that both micro-irrigation and solar pumps were important growth drivers in a Q4, [Showing first 8,000 characters — download PDF for full document]