What Captain Polyplast does

Captain Polyplast Ltd. is an India-based, publicly listed (BSE: CPL) manufacturer of micro-irrigation systems headquartered in Rajkot, Gujarat, with operations dating to 1997. The company produces drip irrigation systems, sprinkler irrigation systems, and a broad accessory range (compression fittings, control valves, filters, fertigation equipment, mulch films, greenhouses) using advanced German and Israel-licensed technology, with three manufacturing facilities in Rajkot, Kurnool, and a newly commissioned 70,000 sq. ft. Ahmedabad plant that commenced production on May 15, 2026 for backward integration. Its product surface has expanded into solar-powered irrigation (AC solar surface and submersible pumps, solar fence energizers, solar water heaters, solar street lights) under government programs such as PM-KUSUM and Per Drop More Crop, and into consumables (Jeevika water-soluble fertilizers) and IOCL polymer distribution in Gujarat.

The business model is sales-led through a network of 750+ dealers across 16 Indian states, complemented by direct engagement with state governments, agricultural universities, and discoms for subsidized projects. End customers are small and marginal farmers, government and PSU bodies executing micro-irrigation and solar-pump schemes, agricultural research institutions, and corporate farming operations. FY26 total income of ₹419.75 crore (up 45% YoY) was driven by core micro-irrigation products and a rising solar EPC services stream; net profit of ₹27.78 crore was below the ₹31.32 crore FY25 figure that included exceptional gains. The company is family-controlled (Khichadia family — Ramesh Khichadia as Chairman & MD, Gopal Khichadia as Whole-Time Director, Ritesh Khichadia as Executive Director), ISO 9001:2015 certified, and exports to Africa, North America, and South America serving a stated 150,000+ farmer base.

Name

Captain Polyplast

Legal name

Captain Polyplast Ltd.

Website

https://captainpolyplast.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

251–500 employees

Short description

Captain Polyplast is an India-based, publicly listed manufacturer of drip and sprinkler irrigation systems, solar water pumps, and water-soluble fertilizers, serving small farmers, government bodies, and agricultural institutions through 750+ dealers across 16 states and export markets.

Ownership category

akta.pro rank

Product category

Agricultural Irrigation Equipment

NAICS

Plastics Pipe, Pipe Fitting, and Unlaminated Profile Shape Manufacturing (32612), Pump and Compressor Manufacturing (33391)

SIC

Plastics Products, Nec (3089), Unsupported Plastics Film & Sheet (3081), Pumps & Pumping Equipment (3561)

akta.pro primary industry

Irrigation & Agricultural Pipe & Fittings (IMANADAE)

akta.pro secondary industries

Commodity Plastic Compounds (PE/PP/PS/PVC) (IMANABAA), Consumer Products Injection Molding (Housewares, Toys, Personal Care) (IMANAFAE)

Keywords

• Micro irrigation systems
• Drip irrigation equipment
• Sprinkler irrigation systems
• Solar water pumps
• Water soluble fertilizers

Headquarters

HQ city

Rajkot

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Micro Irrigation Products: Sale of drip irrigation systems, sprinklers, HDPE pipes, filters, fittings, and accessories to farmers, government bodies, and agricultural institutions. Primary revenue driver alongside solar EPC.
2. Solar EPC Services: Engineering, procurement, and construction services for solar pumping solutions under government schemes (PM-KUSUM, Magel Tyala Saur Krishi Pump). Major revenue contributor in FY26.
3. Solar Water Pumps: Sale of solar water pumping systems including pumps, solar panels, controllers, and accessories. Both on-grid and off-grid solutions.
4. Water Soluble Fertilizers: Sale of Jeevika branded water soluble fertilizers (NPK grades, calcium nitrate, micronutrients) for use with drip irrigation systems.
5. IOCL Polymer Distribution: Authorized distributor (DCA/DOPW) of Indian Oil Corporation polymers (HDPE, LLDPE, PPHP, PPCP) in Gujarat.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Captain Polyplast manufactures and supplies micro irrigation systems (drip irrigation and sprinkler irrigation systems) using advanced German and Israel technology, alongside solar water pumping systems, water soluble fertilizers (Jeevika brand), and acts as an authorized distributor of IOCL polymers in Gujarat. The company operates three manufacturing facilities in India (Rajkot, Kurnool, and Ahmedabad) and sells its products through a network of 750+ dealers across 16 Indian states, with exports to Africa, North America, and South America.

Product overview

Captain Polyplast is a manufacturer and exporter of advanced micro irrigation technologies in India. The product portfolio centers on drip irrigation systems and sprinkler irrigation systems as core products, supported by a comprehensive range of accessories including compression fittings, control valves, irrigation filters, fertigation equipment, greenhouses, and mulch films. The company has expanded into solar-powered products including solar water pumps, solar fence energizers, solar water heaters, and solar street lighting systems. Complementary offerings include Jeevika water soluble fertilizers for fertigation applications and IOCL polymer trading. All products are produced from German and Israel technology with manufacturing facilities in Rajkot, Kurnool, and a newly operational 70,000 sq. ft. facility in Ahmedabad. The company serves agricultural markets across 16 states in India and exports to Africa, North America, and South America.

Differentiator

Problem solved

Functional benefit

Brands

• Jeevika: Water soluble fertilizer brand - complete range of water soluble fertilizers and plant nutrition developed by Captain Polyplast.
• Propel

Products and services

• Drip Irrigation System

Quantifiable outcome

• Optimizes water utilization by approximately 60%
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core and minor.

• MSEDCL (Maharashtra State Electricity Distribution Company Limited)coreChannel Partner/ Reseller/ Distributor · 19 May 2026MSEDCL is a key government utility customer ordering solar pumps from Captain Polyplast. Orders include 500 solar pumps worth Rs 11.8 crore under PM-KUSUM scheme and previous orders for 300 off-grid solar water pumps and 1,300 pumps worth Rs 35.86 crore. MSEDCL validates the company's capabilities in delivering large-scale solar pumping solutions and enhances revenue visibility.
• Indian Oil Corporation Limited (IOCL)minorChannel Partner/ Reseller/ DistributorCaptain Polyplast is authorized DCA (Distributor Cum Agent) and DOPW (Distributor of Polymer Wrapped) of Indian Oil Corporation for marketing IOCL polymers (HDPE, LLDPE, PPHP, PPCP) in Gujarat under the Propel brand.

Scale indicators12 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Rain Bird Corporation: Global irrigation products leader with strong presence in sprinkler and drip systems for agriculture and landscaping. Comparable in product category, though Captain operates at a much smaller scale and primarily in India.
• Astral Limited: Leading Indian manufacturer of plastic pipes (CPVC, PVC, HDPE) used across plumbing and agriculture. Adjacent peer serving overlapping agricultural infrastructure demand with a much larger distribution network.
• Netafim: Israel-based global pioneer in drip and micro irrigation, with India operations. Overlaps directly with Captain's core product offerings; broader incumbent with deeper international footprint and precision agriculture technology.
• Supreme Industries: Large Indian plastic products manufacturer with a piping systems portfolio including HDPE pipes relevant to irrigation distribution. Comparable as a broader plastic pipe/fitting incumbent in agricultural applications.
• Tata Power Solar Systems: Major Indian solar EPC player with growing presence in solar pump installations under PM-KUSUM. Comparable as a competitor in Captain's fastest-growing solar pump revenue line, with substantially larger corporate backing.
• Finolex Industries: Major Indian PVC and plastic pipe manufacturer with adjacent agricultural piping products. Comparable as a broader plastic pipe incumbent serving agricultural and infrastructure markets, though not specialized in drip irrigation.

Regional players

• Kisan Mouldings: Indian plastic pipe and fittings manufacturer serving agricultural and infrastructure markets. Comparable in plastic pipe manufacturing and Indian agricultural distribution, though with different product mix.

Direct peers

• Mahindra EPC Irrigation: Indian micro irrigation subsidiary of the Mahindra Group, manufacturing drip and sprinkler systems plus laterals and filters. Direct competitor for both government tenders and farmer-facing sales across India.
• Jain Irrigation Systems: India's largest micro irrigation company with a comprehensive portfolio of drip and sprinkler systems, plus PVC/PE pipes and solar pumps. Directly comparable to Captain Polyplast in product, customer base (farmers, government), and Indian market focus, though at materially larger scale.

Emerging players

• Oriana Agritech: India-focused agri-input company with irrigation offerings. Emerging player in the same agricultural ecosystem, comparable customer base though narrower product focus.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Captain Polyplast