Q1 FY27 earnings: revenue up 16%, EBITDA margin improves 99 bps

Captain Polyplast posted Q1 FY27 total income of Rs 81.66 cr (up 16.3% YoY) and EBITDA of Rs 9.86 cr (up 26.7%), with margin expanding 99 bps to 12.07%. Net profit stood at Rs 4.66 cr, EPS Rs 0.78. Management won 1,500 solar pump orders in the first four months (800 executed, 700 pending), expects solar EPC to reach 50% of revenue in three years, and started a new 70,000 sq ft Ahmedabad facility. Micro-irrigation capacity supports up to Rs 600 cr. Raw material prices spiked 50% due to geopolitics but have stabilized; price revisions in subsidy states due by Q2/Q3, expected to flow from Q3. Ahmedabad ramp-up should add 10-15 bps to margins every quarter, with full 1-1.5% benefit over 2-3 years. The company also recently listed on NSE.