Skipper, a regional powerhouse in PVC pipe business, today reported a 19.3 per cent increase in its net profit for the March quarter at Rs 36.1 crore.
Net profit from ordinary activity after tax stood at Rs 30.3 crore in January-March of 2014-15, Skipper said in a BSE filing.
Total income from operations increased to Rs 529.7 crore in January-March of 2015-16, from Rs 499.9 crore a year ago.
The company's engineering product orderbook position as of March 31 stands at Rs 2,429 crore and is well diversified between domestic and international orders, the company said in a statement.
In the fourth quarter, the company bagged orders in excess of over Rs 1,200 crore and is looking to enter newer geographies.
"Further, there are existing unopened bids worth over Rs 1,200 crore under submission for which results are awaited and the company expects to see a significant portion of those getting converted into the orderbook," it added.
Skipper, a key regional player in PVC pipe business for eastern India, continues to expand its national footprint and stays on an upward growth trajectory.
During the year, the firm commissioned three new manufacturing plants in Ahmedabad, Guwahati and Sikandrabad under its asset light model to almost triple its manufacturing size to 35,000 million tonnes per annum (mtpa).
Further, work is in full momentum for the new 6,000-mtpa PVC pipe manufacturing in Hyderabad and the company expects to get it commissioned by the first quarter of the ongoing fiscal.
The company also plans to take the total capacity to 1,00,000 tpa by 2018-19, addressing the need for superior quality of PVC pipes and products.
In a separate filing, the company said its board has recommended a dividend of 140 per cent for the year ended March 2016 subject to approval of shareholders.
Besides, it also said Sajan Kumar Bansal has been reappointed as managing director for three years with effect from October 1, 2016, which is also subject to approval of the shareholders.
