Construction & Engineering company Skipper announced Q2FY25 results Revenue: Rs 11,097 million, compared to Rs 7,724 million during Q2FY24, change 44%. EBITDA: Rs 1,124 million, compared to Rs 737 million during Q2FY24, change 53%. EBITDA Margin: 10.1%, compared to 9.5% during Q2FY24. Profit After Tax: Rs 329 million, compared to Rs 198 million during Q2FY24, change 67%. Sharan Bansal, Director of Skipper, said: "Amidst dynamic market conditions, our performance this quarter has truly showcased Skipper’s strength and resilience. With a remarkable 44% growth in revenue compared to Q2 of the previous fiscal year, we are seeing the positive impact of our focused strategy in the Engineering and Infrastructure segments. Our EBITDA margin has improved to 10.1%, reflecting enhanced operational efficiencies, while our Profit After Tax increased by 67% to Rs. 329 million. These accomplishments underline our commitment to delivering sustained growth and value for our stakeholders. Our highest-ever closing order book of Rs. 65,900 million, with 85% coming from the domestic market and 15% from exports, reaffirms Skipper as the preferred partner in the Transmission & Distribution sector. With significant domestic contracts from PGCIL and SEBs, alongside expanding footprints in North and South America, we are poised for continued momentum. Our strong order inflow of Rs. 16,600 million during the quarter is a testament to the confidence our clients place in our capabilities." "Domestic T&D; ordering displays promising signs of resurgence, while our consistent growth in international markets remains a core driver of our expansion. We see vast opportunities ahead, fuelled by India’s 500 GW renewable energy integration plan, and we are committed to being at the forefront of this transformative journey. Internationally, we foresee robust demand driven by increased transmission and distribution spending on renewables for the next decade." Result PDF
Construction & Engineering company Skipper announced Q1FY25 results: Best ever first quarter revenue of Rs 10,917 million on back of strong execution in engineering and Infra segment, Revenue also doubled over previous year quarter Exports Revenue almost doubled, reaching Rs 2,510 million from Rs 1,274 million in the same quarter last year Robust growth in bottom line – PAT doubled to Rs 324 million against Rs 162 million in previous year quarter ; PAT Margin improved to 3.0 % of sales. Closing Order Book of Rs 58,440 million, constitutes 86% domestic & 14% export. Commenting on the release 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. With an impressive Closing Order Book of Rs 58,440 million, comprising 86% from the domestic market and 14% from exports; we've maintained our stance as the preferred partner in the domestic markets. The company demonstrated a robust growth in bottom line with, PAT doubled to Rs 324 million against Rs 162 million in previous year quarter with a remarkable margin to 3.0 % of sales. We secured fresh new orders of Rs 7,650 million for engineering product supplies and EPC works from countries including Middle East Asia, Africa, and major domestic projects from Power Grid Corporation of India Ltd & SEBs. Mr. Bansal also said “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.” Speaking on the results Devesh Bansal, Director, Skipper said - “I am thrilled to present Skipper’s 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 1 st 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 company’s 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. Result PDF
Construction & Engineering company Skipper announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenue: Achieved a remarkable 75.5% increase in revenue, reaching Rs 11,535 million compared to Rs 6,574 million in Q4FY23. EBITDA: Recorded a 51.6% growth in Reported EBITDA, standing at Rs 1,085.4 million in Q4FY24, compared to Rs 716.0 million in the same period last year. Profit Before Tax: Reported a 43.7% increase in Profit Before Tax, reaching Rs 476.0 million in Q4FY24, compared to Rs 331.3 million in Q4FY23. Profit After Tax: Reported a 6.1% growth in Profit After Tax, reaching Rs 251.6 million in Q4FY24, compared to Rs 237.2 million in the previous year’s period. FY24 Financial Highlights: Revenue: For the full fiscal year FY24, revenue surged to Rs 32,820 million, marking a substantial growth of 65.7% against guidance of 25%. Reported EBITDA: The full-year Reported EBITDA reached Rs 3,194.3 million, reflecting a growth of 65.9%. Profit Before Tax: For the full fiscal year FY24, Reported PBT stood at Rs 1,285.0 million, indicating a growth of 157.3%. Profit After Tax: The full-year Reported PAT surged to Rs 816.7 million, representing a growth of 129.6%. Commenting on the release Sharan Bansal, Director Skipper, said – “We are immensely proud of Skipper Limited’s exceptional performance in Q4 & FY24, marked by robust revenue growth and profitability. Our strategic initiatives have yielded significant results, as evidenced by the substantial increase in revenue and profitability metrics. The efficient management of working capital and all time high strong order books further underscore our operational excellence and resilience. We are excited to announce our intention to expand our engineering capacity by another 75,000 MT , from existing 300,000 MTPA to 375,000 MTPA by end of this year. This expansion represents a significant investment in our future and underscores our confidence in the robust demand for our products and services in both domestic and international markets. Looking ahead, we anticipate a strong revenue performance across major segments, fuelled by pending engineering and infrastructure execution and improving polymer performance. With a proactive approach, we expect to achieve a 25% CAGR growth over the next 2 years. This promising outlook, combined with our strategic vision, positions Skipper limited for sustained success and leadership in the industry” Result PDF
Conference Call with Skipper Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with Skipper Ltd. Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.
Construction & Engineering company Skipper announced Q3FY24 & 9MFY24 results: Consolidated Q3FY24: Revenue of Rs 8,016 million in Q3FY24 compared to Rs 4,448 million in Q3FY23, showing a growth of 80.2%. Reported EBITDA of Rs 770.7 million in Q3FY24 compared to Rs 453.2 million in Q3FY23, indicating a growth of 70.1%. EBITDA Margin% of 9.6% in Q3FY24 compared to 10.2% in Q3FY23, a decrease of 60 basis points. Profit Before Tax of Rs 290.5 million in Q3FY24 compared to Rs 118.2 million in Q3FY23, growth of 145.8%. Profit After Tax of Rs 204.7 million in Q3FY24 compared to Rs 95.1 million in Q3FY23, showing a growth of 115.3%. Consolidated 9MFY24: Revenue of Rs 21,285 million for 9MFY24 compared to Rs 8,781 million for 9MFY23, indicating a growth of 51.1%. EBITDA of Rs 2,108.9 million for 9MFY24 compared to Rs 1,209.5 million for 9MFY23, showing a growth of 74.4%. EBITDA Margin % of 9.9% for 9MFY24 compared to 9.1% for 9MFY23, an increase of 80 basis points. Profit Before Tax of Rs 809.0 million for 9MFY24 compared to Rs 168.1 million for 9MFY23, growth of 381.3%. Profit After Tax of Rs 565.1 million for 9MFY24 compared to Rs 118.5 million for 9MFY23, showing a growth of 376.8%. Key Business Highlights: Q3FY24 order inflow amounted to Rs 4,020 million, with a cumulative inflow of Rs 31,450 million for engineering products supplies and EPC works in 9MFY24. The closing order book stood at Rs 57,790 million, comprising 18% exports and 82% domestic orders. A robust order bidding pipeline exists, with Rs 98,300 million in the international sector and Rs 52,000 million in the domestic sector. Successful closure of fundraising through a right issue, which was oversubscribed 1.77 times, indicating strong investor interest and confidence. The polymer sector achieved significant volume growth, increasing from 15,454 MT in 9MFY23 to 24,654 MT in 9MFY24, reflecting a remarkable growth of 60%. Commenting on the release, Sharan Bansal, Director Skipper, said, “We are delighted to present outstanding financial achievements for the quarter and 9 Months ending December 31, 2023. Our Revenue for the quarter soared by an impressive 80.2%, leaping from Rs 4,448 million to Rs 8,016 million over the last year quarter. Additionally, our Profit After Tax (Reported PAT) also witnessed remarkable growth, surging by 115.3% from Rs 95.1 million to Rs 204.7 million compared to the previous year’s quarter. The Closing Order Book, of the company stands at an impressive Rs 57,790 million, with a composition of 82% from the domestic market and 18% from exports. The Order Bidding Pipeline remains robust, with a substantial international pipeline of Rs 98,300 million and a domestic pipeline of Rs 52,000 million. Bansal also added “We are also pleased to announce the successful closure of fund-raising through right issue, which was oversubscribed 1.77 times. This accomplishment underscores the market's confidence in Skipper. Looking ahead, we anticipate a strong revenue performance across major business segments, fuelled by pending engineering execution and improving polymer performance. With a proactive approach, we expect to achieve a 25% CAGR growth over the next three years. This promising outlook, combined with our management’s strategic vision, positions Skipper Limited for sustained success and leadership in the industry." Result PDF