Captain Pipes gains on commissioning new CPVC machine at Rajkot plant
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Captain Pipes is currently trading at Rs. 27.20, up by 0.39 points or 1.45% from its previous closing of Rs. 26.81 on the BSE.
The scrip opened at Rs. 28.00 and has touched a high and low of Rs. 28.00 and Rs. 27.00 respectively. So far 245028 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 35.79 on 23-May-2023 and a 52 week low of Rs. 3.96 on 21-Jul-2022.
Last one week high and low of the scrip stood at Rs. 30.85 and Rs. 25.91 respectively. The current market cap of the company is Rs. 378.35 crore.
The promoters holding in the company stood at 72.23%, while Non-Institutions held 27.77% stake in the company respectively.
Captain Pipes has commissioned its new CPVC machine at Rajkot plant. This will increase the company's installed capacity by 1100 MT per annum and help expand the product range in CPVC pipes up to 100 mm (4 inches) diameter as per ASTM standards.
In addition to this, the company has also completed the commissioning of SWR fitting moulds conforming to BIS specifications in FY23. Together these two capacity additions will help the company cater to demand from fast growing plumbing segment and are expected to positively impact sales volume by 15-20%.
Captain Pipes is engaged in manufacturing polyvinyl chloride threaded pipes. Its products include unplasticized polyvinyl chloride (uPVC) column pipes, uPVC pressure pipes, uPVC casing pipes, uPVC plumbing pipes and fittings and pipe accessories. The company was founded in 2010 and is based in Rajkot, Gujarat.
