Q2 growth, record solar pump wins and planned margin recovery
CPL · price
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On the reaction day the stock moved 1.3 pts less than Nifty Microcap 250 and 1.0 pts less than its Plastic Products - Industrial peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Q2 FY27 revenue was INR106.43 crore, up 32.89% year on year, and net profit was INR4.48 crore, up 5.55%. MSEDCL orders worth INR70.6 crore covered 3,000 solar pumps, taking FY27 intake to INR82.4 crore for 3,500 pumps. More tenders are expected. Higher polymer costs cut EBITDA margin to 9.66% from 10.29%. Price revisions and Ahmedabad production may add 1.5 points by March; the plant's full 1 to 1.5 point benefit is expected over three years.
Order wins improve revenue visibility, but margins depend on price revisions and the Ahmedabad ramp-up. Near-term profit growth may lag sales.