Captain Polyplast has reported robust earnings for the December quarter and the primary 9 months of the present fiscal. The firm reported the best quarterly revenue in its historical past, coming in at Rs 74.5 crore in Q3FY23. Its web revenue for the quarter grew 6.6x, the corporate stated in an trade submitting.
The robust progress in topline was a results of enhance in demand for micro irrigation techniques, the corporate stated.
Ramesh Kichadia, MD, Captain Polyplast, stated that the administration stays dedicated to technique of progress and innovation and “look forward to continued success in the future”.
The firm goals to report wholesome revenue and revenue progress within the upcoming quarters, the submitting stated.
Captain Polyplast is a number one model within the micro irrigation trade. The micro irrigation trade is anticipated to learn from price range allocations from varied centrally sponsored schemes and state governments’ initiatives.
The central authorities has allotted funds underneath Pradhan Mantri Krushi Sinchay Yojna and Atal Bhujal Yojna for increasing the adoption of micro irrigation techniques resembling drip and sprinkler amongst farmers. Several states have additionally introduced enhance in allocation in the direction of micro irrigation.
Recently, Prime Minister Narendra Modi stated that the agricultural price range which was lower than 25,000 crores in 2014 has been elevated to greater than 1,25,000 crores immediately.Â
The authorities has been working in the direction of making home and worldwide markets accessible to the farmers by taking varied selections within the price range to advertise the agricultural sector in order that the nation turns into ‘atmanirbhar’ and the cash used for imports can attain our farmers.
