SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Captain Pipes Ltd (538817)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 538817 NSE: Plastic Products | Small Cap | Captain Pipes Share Price

₹9.57 0.00 (0.00%)

As on 02-Jul'26 16:59

Captain Pipes Ltd (538817)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 538817 NSE: Plastic Products | Small Cap | Captain Pipes Share Price

₹9.57 0.00 (0.00%)

As on 02-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹147 Cr.
Current Price
₹9.6
52-Week Low / High
₹7 / 17
TTM EPS
₹0.2
TTM Sales
₹77.7 Cr.
Book Value per Share
₹2.8
P/E Ratio
49.93
Lower than its 5-year historical median
Industry PE
38.4
Price to Book (P/B)
3.45
Lower than its 5-year historical median
Price to Sales (P/S)
1.89
Lower than its 5-year historical median
EV/EBITDA
20.67
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
13.53%
Outperforms industry median
Return on Capital Employed (ROCE)
17.03%
Outperforms industry median
Return on Assets (ROA)
8.14%
Operating Profit Margin
10.5%
Net Profit Margin
5.75%
Gross Profit Margin
8.9%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
0.52%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
4.68%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
10.8%
Asset Quality
Promoter Holding
64.40%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹27 Cr.
Equity
₹15.4 Cr.
Face Value
₹1
All Time Low / High
₹0.57 / 35.79

Captain Pipes stock performance

Key Ratios
mw4me loader

Check Before You Invest

Quality

Locked
Login to view analysis.

Valuation

Locked
Login to view analysis.

Price Trend

Locked
Login to view analysis.
Q.1 Is Captain Pipes Ltd a good quality company?
Captain Pipes Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Captain Pipes Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Captain Pipes Ltd vs industry peers?
Captain Pipes Ltd revenue CAGR is 11.03%, compared to the industry median CAGR of 4.71%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Captain Pipes Ltd?
Promoters hold 64.40% of the Captain Pipes Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Captain Pipes Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 24% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Captain Pipes Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 17.7%12.9%-0.7%13.3%15.1%14.6%43.5%15.7%25%17%-
Value Creation
Index
0.3-0.1-1.1-0.10.10.12.10.10.80.2-

Growth Parameters

Sales 53.753.543.654.645.540.582.785.576.476.878
Sales YoY Gr.--0.5%-18.4%25.1%-16.7%-11%104.5%3.4%-10.7%0.5%-
Adj EPS 00-0.10000.10.10.30.30.2
YoY Gr.--50%-700%NA0%0%550%0%107.7%3.7%-
BVPS (₹) 0.80.80.70.70.70.71.11.41.72.62.8
Adj Net
Profit
0.50.3-1.50.20.30.31.61.844.43
Cash Flow from Ops. 42.34.33.23.61.4-4.72.84.1-2.4-
Debt/CF from Ops. 2.44.32.11.60.92.9-0.80.91.4-6.6-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 4%11%-2.5%0.5%
Adj EPS 24.1%69.5%29.1%3.7%
BVPS14.7%29.4%31.3%49.1%
Share Price 21.6% 55.3% -30.3% -37.9%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
5.83.2-16.62.63.43.112.59.817.313.37.1
Op. Profit
Mgn %
7.26.11.34.95.663.34.710.110.510.8
Net Profit
Mgn %
10.6-3.40.40.60.71.92.15.25.73.8
Debt to
Equity
11.11.10.60.40.50.30.10.20.40.4
Working Cap
Days
1271411821381481599610311513773
Cash Conv.
Cycle
3832442826212839587417

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales54534455454083867677
Operating Expenses + 50504352433880826969
Manufacturing Costs3322212333
Material Costs44443847383475746160
Employee Cost 1111111112
Other Costs 1212222434
Operating Profit 4313323488
Operating Profit Margin (%) 7.2%6.1%1.2%4.9%5.6%6.0%3.3%4.7%10.1%10.5%
Other Income + 0000000000
Exceptional Items 0000005000
Interest 3222111111
Depreciation 1111111111
Profit Before Tax 00-20006266
Tax -00-10001122
Profit After Tax 10-20005244
PAT Margin (%) 1.0%0.6%-3.4%0.5%0.8%0.7%6.2%2.1%5.2%5.8%
Adjusted EPS (₹)0.00.0-0.10.00.00.00.40.10.30.3
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Captain Pipes - Standalone

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 910889914202640
Share Capital 4444444141515
Reserves 5544551061124
Debt +88642332515
Long Term Debt33322332310
Short Term Debt5532000035
Minority Interest0000000000
Trade Payables14141514131113996
Others Liabilities 4553334344
Total Liabilities 35363330272635334465

Fixed Assets

Net Fixed Assets +111010998981111
Gross Block13141414151516172122
Accumulated Depreciation234567891011
CWIP 00000000010
Investments 11111100612
Inventories1015141211911101213
Trade Receivables118665611101211
Cash Equivalents 1110000300
Others Assets 2221234328
Total Assets 35363330272635334465

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 424341-534-2
PBT 00-20006266
Adjustment 333222-3222
Changes in Working Capital 0-1401-1-7-1-3-8
Tax Paid -0-0-0-0-0-0-0-1-1-2
Cash Flow From Investing Activity + -0-00-0-0-14-1-10-16
Capex -1-0-0-1-0-00-1-4-11
Net Investments 00000050-6-5
Others 0-000-0-1-1000
Cash Flow From Financing Activity + -3-2-4-3-3-010318
Net Proceeds from Shares 00000002110
Net Proceeds from Borrowing 0-0-0-1010-118
Interest Paid -3-2-2-2-1-1-1-1-1-1
Dividend Paid 0000000000
Others -10-2-0-201-032
Net Cash Flow 100-1-0-0-03-30

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)5.843.41-16.873.394.453.144.0210.4817.4813.53
ROCE (%)17.6512.87-0.713.315.1214.6443.5215.7424.9917.03
Asset Turnover Ratio1.761.691.331.741.61.512.72.51.981.42
PAT to CFO Conversion(x)4N/AN/AN/AN/AN/A-11.51-0.5
Working Capital Days
Receivable Days6357.4055.6042.5046.5049.8038.1044.8051.1054.70
Inventory Days52.4073.40113.708689.2087.1043.5044.2051.7058.80
Payable Days92.50113.90134111.50130.50131.5059.2053.6052.5045.30

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Captain Pipes Ltd FAQs

The current trading price of Captain Pipes on 02-Jul-2026 16:59 is ₹9.57.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 01-Jul-2026 the market cap of Captain Pipes stood at ₹147.0 Cr

The latest P/E ratio of Captain Pipes as of 01-Jul-2026 is 49.93.

The latest P/B ratio of Captain Pipes as of 01-Jul-2026 is 3.45.

The 52-week high of Captain Pipes is ₹17.40 and the 52-week low is ₹7.05.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Captain Pipes is ₹77.73 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Captain Pipes Ltd is a good quality company.

The key valuation ratios of Captain Pipes Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Captain Pipes Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Captain Pipes Ltd

The company was originally incorporated on January 05, 2010 as a private limited company under the name and style of 'Captain Pipes Private Limited' under the provisions of the Companies Act, 1956 with the Registrar of Companies, Gujarat, Dadra & Nagar Havelli. Subsequently, the company was converted into a public limited company on September 23, 2014 and the name of the company was changed to 'Captain Pipes Limited'.

The company started its manufacturing in the year 2010-11 by manufacturing uPVC pipes and subsequently diversified its manufacturing line by introducing uPVC Plumbing Fittings and uPVC Agri Fittings to its products line in February, 2014. The company’s products are supplied to entities generally engaged in the agriculture and construction sector.

The company has its manufacturing facility located at Shapar (Veraval), Rajkot-Gujarat in a total area of around 62,000 sq. ft with an annual capacity of 17,700MT per annum. The company sells its varied range of products under the brand name of 'CAPTAIN' which is registered in the name of its Corporate Promoter i.e. Captain Polyplast Limited and the company uses the said brand name by virtue of an MOU dated December 16, 2010. The company also manufactures uPVC pipes for other companies under their brand name like Netafim Irrigation India Private Limited supplied to them. Some of its renowned customers include Netafim Irrigation India Private Limited, Sabar Export (I) Private Limited, Shakti Pumps etc.

The company has six fully automatic extrusion lines of latest German technology for manufacturing uPVC threaded Column Pipes, uPVC Plumbing Pipes, uPVC Pressure Pipes, uPVC Casing Pipes, five fully automatic machines of latest Japanese technology and approx 140 moulds of 2316 German material for manufacturing uPVC Plumbing Fittings and uPVC Agri Fittings and also has three fully automatic centralized mixer & two semi automatic mixer in order to mix up raw material in appropriate ratio to increase the quality of its products. The company also has its own laboratory and R&D departments with well equipped instruments and experienced technical persons in order to test its products to meet its quality assurance. The company follows Indian as well as International quality standards for its products and has two of the products ISI certified.

The company’s Promoter Directors, Ramesh D. Khichadia and Gopal D. Khichadia have about two decades of experience in field of marketing and manufacturing pipes & its related products and have in-depth knowledge of the products and industry in which it operates. One of its Founder Promoter, Ramesh D Khichadia has been awarded Udyog Patra for self made industrialist in the year 2008 by Institute of Trade and Industrial Development and Indira Gandhi Priyadarshini Award in the year 2008 by All India National Unity Conference-New Delhi.

The company has entered into arrangements / understanding with over 30 dealers/ distributors located across 9 states to market and sell its products viz. Gujarat, Madhya Pradesh, Haryana, Punjab, Uttar Pradesh, Andhra Pradesh (now in Telangana), Chhattisgarh, Karnataka and Maharashtra.

Business area of the company

The company is an ISO 9001:2008 certified company which manufactures a wide range of high tensile and high impact uPVC threaded Column Pipes, uPVC Plumbing Pipes, uPVC Pressure Pipes, uPVC Casing Pipes, uPVC Plumbing Fittings and uPVC Agri Fittings. The company is also a supplier of HDPE Pipes (being procured from Captain Polyplast Limited, the company’s Promoter Company which manufactures the same for it on job work basis) and uPVC Column Pipes Fittings being procured from identified manufacturer as per the company’s specifications. The company further assembles the procured uPVC Column Pipes with accessories and supplies the assembled products to its uPVC threaded Column Pipes customers. 

To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through: