Skipper hits record high after Q1 PAT surges YoY to Rs 32 cr

Skipper rallied 8.13% to Rs 399.80 after the company reported a consolidated net profit of Rs 32.42 crore in Q1 FY25, steeply higher than Rs 16.25 crore posted in Q1 FY24.

Revenue from operations was at Rs 1,091.74 crore in the quarter ended June 2024, registering a growth of 96.85% as against with Rs 554.58 crore in Q1 FY24. The said growth was led by strong execution in engineering and infra segment and also doubled over previous year quarter.

Profit before tax stood at Rs 4.31 crore in the quarter ended 30 June 2024, up 84.97% year on year.

EBITDA stood at Rs 104.67 crore in Q1 FY25, registering the growth of 74.04% YoY. EBITDA margin decreased by 120 bps to 9.6% in Q1 FY25 as compared with Rs 10.8% in Q1 FY24.

 

Revenue from export surged 97.02% to Rs 251 crore in Q1 FY25 as against 127.4 crore posted in same quarter last year.

Closing order book as on 30 June 2024 is valued to be Rs 584.40 crore, which constitutes 86% domestic and 14% export.

Sharan Bansal, Director Skipper, said, Amidst dynamic market landscapes, our achievements stand as a testament to our unwavering commitment to excellence. The company witnessed a remarkable 97% growth in revenue as compared to the Q1 of the last FY. Our consistent performance across major business segments and some aggressive sales initiatives has enabled us to maintain an impressive order booking numbers. T&D Domestic ordering displays promising signs of rebound, while our unwavering momentum in the international market remains a driving force. Our order bidding pipeline stood at Rs 115,000 million in the international arena and an impressive Rs 65,500 million in the domestic sphere.

These accomplishments are evidence of our vision and unwavering dedication. Our company stands resolute in its commitment towards addressing the world's pressing need for green energy and sustainability. We anticipate a strong bidding pipeline in India through 2030, driven by the 500 GW renewable energy integration plan. This expansion and integration strategy will also create additional business opportunities for the company. Additionally, in the international market, we expect a robust bidding pipeline for the next decade, fueled by global transmission and distribution spending on renewables.

Devesh Bansal, Director, Skipper, said - I am thrilled to present Skippers outstanding performance for the first quarter of fiscal year 2025. This period once again showcases Skipper's unwavering dedication to excellence and innovation in the engineering, EPC services sector and the polymer sector. In this quarter, Skipper has achieved remarkable success, with revenue of Rs 10,917 million, by being the best ever 1st quarter in terms of revenue. This achievement is a testament to the increasing demand for our engineering products and services both domestically and internationally.

The companys exports revenue almost doubled, reaching Rs 2,510 million from Rs 1,274 million in the same quarter last year. Our strong presence in the overseas markets continues to drive growth, with our transmission and distribution (T&D) projects flourishing and our international expansion efforts bearing fruit. Looking ahead, we anticipate Strong Revenue performance across major business segment to continue. We expect a 25% CAGR growth over the next 2 year on back of pending engineering execution & and improving polymer performance.

Skipper is one of the leading companies in the power transmission & distribution and the polymer segment. With over 42+ years of domain knowledge it is largest in India and tenth globally basis the manufacturing capacity.

The scrip hit an all-time high of Rs 412.65 in todays intraday session.

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