Captain Polyplast has secured a ₹23.6 crore order from the Maharashtra State Electricity Distribution Company (MSEDCL) for the supply and installation of 1,000 Off-Grid DC Solar Photovoltaic Water Pumping Systems under the PM Kusum-B Scheme. According to reports from Business Standard, the order includes design, manufacture, supply, transport, installation, testing and commissioning of 1,000 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) of 3 HP, 5 HP & 7.5 HP capacity at identified farmers' sites in districts of Maharashtra, including a complete system warranty and its repair and maintenance and a Remote Monitoring System (RMS) for 5 years under the PM Kusum B Scheme Magel Tyala Saur Krushi Pump Yojana. The total commercial consideration for the order is approximately ₹23.6 crore, inclusive of Goods and Services Tax (GST).
The project is scheduled to be completed within 60 days from the issuance of the Notice to Proceed (NTP), Work Order, or JSR approval. As reported by Business Standard, the scope of work also includes a comprehensive five-year warranty, repair and maintenance services, and a Remote Monitoring System (RMS) for all installed systems. The agreement mandates the completion of installation within 60 days from the date of issuance of the Notice to Proceed (NTP), Work Order, or JSR approval. The company clarified that the contract is not a related-party transaction and that neither its promoters nor members of the promoter group have any interest in the award of the order.
Captain Polyplast is engaged in manufacturing and selling quality micro-irrigation systems and allied products, having its manufacturing facilities at Shapar (Veraval), Rajkot. According to Business Standard, the company also undertakes installation of micro-irrigation systems, provides agronomical services to farmers, and carries out business activities. Ritesh Khichadia, Whole Time Director of Captain Polyplast Limited, highlighted that the order reaffirms the company's strong execution capabilities and the confidence placed in it by government utilities. He emphasized that the adoption of renewable energy-based irrigation is gaining momentum, and the company remains focused on timely execution and operational excellence. This win reinforces Captain Polyplast's execution capabilities in the government-led solar infrastructure domain.
This contract strengthens the company's order book and enhances revenue visibility in the solar EPC segment. The project falls under the "Magel Tyala Saur Krushi Pump" Yojana, a component of the central government's initiative for renewable energy in agriculture. Historical stock performance shows +87.78% returns over 5 years, with recent gains of +2.41% in 1 month and +1.80% in 1 day. The order is expected to support steady growth in the solar pump segment and diversify the company's revenue mix, with the tight 60-day execution timeline testing operational capabilities while signaling potential pipeline for similar contracts under the PM KUSUM scheme in other states. As per Business Standard, the receipt of this order from MSEDCL is a strong testament to Captain Polyplast's growing capabilities in the solar EPC space and marks a meaningful step-up in the Company's order book.
