Market Cap ₹315 Cr.
Stock P/E 18.9
P/B 3.3
Current Price ₹56.9
Book Value ₹ 17.5
Face Value 2
52W High ₹69.8
Dividend Yield 0%
52W Low ₹ 18.9
Captain Polyplast Limited (CPL) is an Indian manufacturer and exporter of micro irrigation systems (MIS) and allied products, such as drip irrigation, sprinkler irrigation, solar pumps, water soluble fertilizer, polymer pipes and fittings. It was founded by Mr. Ramesh Khichadia and Mr. Gopal D. Khichadia in 1997 in Rajkot, Gujarat. CPL has two state-of-the-art manufacturing facilities in Rajkot and Kurnool, and a strong distribution network with more than 750 dealers in 16 states of India. CPL’s promoters have over two decades of experience in the MIS business, and hold 66.5% of the shareholding in the company. CPL has achieved several milestones and awards in its long history, such as being the first Indian company to manufacture HDPE pipes, and the recipient of Indira Gandhi Priyadarshini Award, Udyog Patra Award, and National Award for Quality Product in micro and small enterprises.
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| #(Fig in Cr.) | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 44 | 44 | 59 | 41 | 36 | 72 | 77 | 73 | 70 | 83 |
| Other Income | 1 | 0 | 1 | 1 | 2 | 3 | -3 | 1 | 1 | 1 |
| Total Income | 45 | 44 | 60 | 42 | 37 | 75 | 74 | 73 | 71 | 84 |
| Total Expenditure | 41 | 40 | 54 | 38 | 35 | 69 | 66 | 65 | 63 | 74 |
| Operating Profit | 4 | 4 | 5 | 3 | 3 | 6 | 8 | 8 | 8 | 10 |
| Interest | 3 | 2 | 3 | 2 | 2 | 2 | 3 | 3 | 3 | 3 |
| Depreciation | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 1 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 0 | 2 | 0 | 0 | 3 | 4 | 5 | 4 | 7 |
| Provision for Tax | 0 | 0 | 1 | 0 | 0 | 0 | 2 | 1 | 1 | 2 |
| Profit After Tax | 0 | 0 | 1 | 0 | 0 | 3 | 3 | 4 | 3 | 5 |
| Adjustments | 0 | 0 | -0 | 0 | 0 | 0 | -0 | 0 | -0 | -0 |
| Profit After Adjustments | 0 | 0 | 1 | 0 | 0 | 3 | 3 | 4 | 3 | 5 |
| Adjusted Earnings Per Share | 0.1 | 0.1 | 0.3 | 0.1 | 0 | 0.5 | 0.5 | 0.8 | 0.7 | 1 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 99 | 135 | 115 | 125 | 149 | 186 | 178 | 185 | 225 | 303 |
| Other Income | 0 | 1 | 0 | 2 | 1 | 3 | 1 | 2 | 3 | 0 |
| Total Income | 100 | 136 | 115 | 126 | 150 | 190 | 179 | 187 | 228 | 302 |
| Total Expenditure | 86 | 119 | 99 | 110 | 131 | 158 | 152 | 170 | 208 | 268 |
| Operating Profit | 14 | 16 | 16 | 16 | 19 | 32 | 27 | 17 | 20 | 34 |
| Interest | 7 | 7 | 6 | 6 | 7 | 10 | 10 | 10 | 9 | 12 |
| Depreciation | 3 | 3 | 2 | 2 | 2 | 4 | 4 | 4 | 3 | 4 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 4 | 6 | 7 | 8 | 10 | 17 | 12 | 4 | 8 | 20 |
| Provision for Tax | 1 | 2 | 3 | 3 | 3 | 5 | 3 | 1 | 2 | 6 |
| Profit After Tax | 2 | 4 | 5 | 5 | 7 | 13 | 9 | 3 | 6 | 15 |
| Adjustments | 0 | -0 | 0 | -1 | 0 | 0 | 0 | 2 | 0 | 0 |
| Profit After Adjustments | 2 | 4 | 5 | 5 | 7 | 13 | 9 | 4 | 6 | 15 |
| Adjusted Earnings Per Share | 0.5 | 0.7 | 1 | 0.9 | 1.4 | 2.5 | 1.8 | 0.9 | 1.2 | 3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 22% | 7% | 12% | 0% |
| Operating Profit CAGR | 18% | -15% | 5% | 0% |
| PAT CAGR | 100% | -23% | 4% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 201% | 10% | 17% | 23% |
| ROE Average | 8% | 9% | 15% | 15% |
| ROCE Average | 11% | 12% | 16% | 20% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 21 | 24 | 29 | 34 | 41 | 53 | 62 | 66 | 72 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 8 | 6 | 3 | 3 | 7 | 9 | 19 | 25 | 22 |
| Other Non-Current Liabilities | 1 | 0 | 0 | 0 | 0 | 2 | 2 | 1 | 1 |
| Total Current Liabilities | 49 | 66 | 68 | 72 | 130 | 147 | 127 | 118 | 134 |
| Total Liabilities | 79 | 96 | 101 | 109 | 178 | 211 | 210 | 211 | 229 |
| Fixed Assets | 14 | 12 | 11 | 11 | 11 | 19 | 18 | 15 | 14 |
| Other Non-Current Assets | 2 | 4 | 8 | 9 | 17 | 10 | 10 | 9 | 10 |
| Total Current Assets | 62 | 81 | 82 | 89 | 150 | 182 | 182 | 187 | 205 |
| Total Assets | 79 | 96 | 101 | 109 | 178 | 211 | 210 | 211 | 229 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 5 | 4 | 5 | 4 | 1 | 2 | 3 | 2 | 5 |
| Cash Flow from Operating Activities | 12 | 7 | 10 | -8 | -6 | -0 | 0 | 12 | 11 |
| Cash Flow from Investing Activities | -3 | -0 | -3 | -0 | -8 | 1 | -1 | 4 | 2 |
| Cash Flow from Financing Activities | -9 | -5 | -8 | 6 | 15 | 0 | 0 | -14 | -13 |
| Net Cash Inflow / Outflow | -1 | 1 | -1 | -3 | 0 | 2 | -1 | 2 | -0 |
| Closing Cash & Cash Equivalent | 4 | 5 | 4 | 1 | 2 | 3 | 2 | 5 | 5 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.46 | 0.73 | 0.97 | 0.95 | 1.43 | 2.5 | 1.84 | 0.87 | 1.18 |
| CEPS(Rs) | 1.15 | 1.35 | 1.39 | 1.49 | 1.79 | 3.34 | 2.62 | 1.27 | 1.66 |
| DPS(Rs) | 0 | 0.08 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0 | 0 |
| Book NAV/Share(Rs) | 4.18 | 4.82 | 5.74 | 6.66 | 8.05 | 10.52 | 12.32 | 13.15 | 14.36 |
| Core EBITDA Margin(%) | 13.26 | 11.17 | 13.32 | 11.61 | 11.97 | 14.7 | 14.26 | 8.25 | 7.49 |
| EBIT Margin(%) | 10.43 | 9.38 | 11.85 | 11.3 | 11.52 | 14.23 | 12.54 | 7.36 | 7.59 |
| Pre Tax Margin(%) | 3.66 | 4.05 | 6.41 | 6.62 | 6.6 | 8.97 | 6.93 | 2.04 | 3.41 |
| PAT Margin (%) | 2.35 | 2.71 | 4.17 | 4.34 | 4.82 | 6.56 | 5.04 | 1.47 | 2.51 |
| Cash Profit Margin (%) | 5.84 | 4.91 | 5.99 | 5.9 | 6.03 | 8.76 | 7.36 | 3.43 | 3.72 |
| ROA(%) | 2.96 | 4.29 | 4.93 | 5.23 | 5.01 | 6.48 | 4.3 | 1.31 | 2.57 |
| ROE(%) | 11.12 | 16.6 | 18.33 | 17.62 | 19.43 | 26.93 | 15.72 | 4.3 | 8.14 |
| ROCE(%) | 23.98 | 28.09 | 27.16 | 23.81 | 20.13 | 23.72 | 16.35 | 9.25 | 11.25 |
| Receivable days | 142.97 | 118.9 | 160.29 | 148.25 | 173.61 | 175.83 | 210.38 | 215.08 | 184 |
| Inventory Days | 59.94 | 49.11 | 67.09 | 61.74 | 61.05 | 58.58 | 67.08 | 69.12 | 66.33 |
| Payable days | 164.54 | 142.54 | 193.22 | 148.63 | 142.1 | 180.55 | 166.42 | 103.55 | 103.8 |
| PER(x) | 17.22 | 17.3 | 28.72 | 31.69 | 18.3 | 10 | 22.66 | 20.83 | 14.88 |
| Price/Book(x) | 1.92 | 2.62 | 4.84 | 4.51 | 3.25 | 2.38 | 3.38 | 1.37 | 1.23 |
| Dividend Yield(%) | 0 | 0.63 | 0.14 | 0.13 | 0.15 | 0.16 | 0.1 | 0 | 0 |
| EV/Net Sales(x) | 0.59 | 0.62 | 1.39 | 1.48 | 1.29 | 1.06 | 1.65 | 0.92 | 0.73 |
| EV/Core EBITDA(x) | 4.29 | 5.2 | 9.99 | 11.3 | 10.13 | 6.24 | 11 | 9.74 | 8.34 |
| Net Sales Growth(%) | 0 | 36.13 | -14.98 | 8.54 | 19.78 | 24.8 | -4.39 | 3.99 | 21.29 |
| EBIT Growth(%) | 0 | 25.57 | 6.27 | 3.35 | 20.24 | 58.79 | -17.61 | -38.8 | 23.67 |
| PAT Growth(%) | 0 | 60.81 | 29.56 | 12.8 | 30.9 | 75 | -28.2 | -69.53 | 104.67 |
| EPS Growth(%) | 0 | 57.29 | 32.45 | -2.16 | 50.93 | 75 | -26.51 | -52.85 | 36.51 |
| Debt/Equity(x) | 1.06 | 1.04 | 0.82 | 1.02 | 1.54 | 1.4 | 1.39 | 1.26 | 1.11 |
| Current Ratio(x) | 1.28 | 1.23 | 1.2 | 1.23 | 1.15 | 1.24 | 1.43 | 1.58 | 1.53 |
| Quick Ratio(x) | 0.94 | 0.91 | 0.88 | 0.94 | 0.93 | 1.02 | 1.17 | 1.26 | 1.2 |
| Interest Cover(x) | 1.54 | 1.76 | 2.18 | 2.42 | 2.34 | 2.71 | 2.23 | 1.38 | 1.82 |
| Total Debt/Mcap(x) | 0.55 | 0.4 | 0.17 | 0.23 | 0.48 | 0.59 | 0.41 | 0.92 | 0.91 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 66.79 | 66.5 | 66.5 | 66.5 | 66.5 | 66.5 | 66.5 | 66.5 | 66.5 | 68.08 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 33.21 | 33.5 | 33.5 | 33.5 | 33.5 | 33.5 | 33.5 | 33.5 | 33.5 | 31.92 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 3.36 | 3.35 | 3.35 | 3.35 | 3.35 | 3.35 | 3.35 | 3.35 | 3.35 | 3.6 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.67 | 1.69 | 1.69 | 1.69 | 1.69 | 1.69 | 1.69 | 1.69 | 1.69 | 1.69 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 5.04 | 5.04 | 5.04 | 5.04 | 5.04 | 5.04 | 5.04 | 5.04 | 5.04 | 5.29 |
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| Companies | Open Date | Close Date | Issue Price | Cost of 1 Lot | GMP | Expected Listing | Listing Gain(%) | Listing Price | Current Price | Type | Exchange |
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