Construction & Engineering company Skipper announced Q1FY24 results: Revenue of Rs 5,546 million in Q1FY24 compared to Rs 4,161 million in Q1FY23, up 33.3% YoY Operating EBITDA of Rs 601.4 million in Q1FY24 compared to Rs 358.3 million in Q1FY23, up 67.8% YoY Operating EBITDA Margin % of 10.8% in Q1FY24 compared to 8.6% in Q1FY23, up 220 bps YoY Profit Before Tax of Rs 233.0 million in Q1FY24 compared to Rs (5.3) million in Q1FY23 Profit After Tax of Rs 162.6 million in Q1FY24 compared to Rs (6.5) million 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 33% growth in revenue over the previous year's quarter. Our consistent performance across major business segments has propelled us forward. With an impressive Closing Order Book of Rs 53,720 million in the engineering segment, comprising 76% from the domestic market and 24% from exports; we've cemented our position as a leader in the global Power T& D sector. The Q1FY24 report is a testament to our strategic prowess, as Engineering Segment operating EBITDA margin stands strong at 12.0%. We secured fresh new orders of Rs 12,150 million for engineering product supplies and EPC works from strategic nations including Egypt, Iraq, Bolivia, Australia, Nepal, Finland, and major projects from the Power Grid Corporation Of India. Mr. Bansal also said, “T&D; Domestic ordering displays promising signs of a rebound, while our unwavering momentum in the international market remains a driving force. Our Order Bidding Pipeline stood at Rs 60,000 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 to addressing the world's pressing need for green energy and sustainability. As a leader in our industry, we recognize the pivotal role we play in shaping a cleaner and more sustainable future for generations to come. We remain poised to conquer new milestones and set industry standards, under the visionary leadership of our team." Result PDF
Construction & engineering firm Skipper announced Q3FY23 results: Q3FY23 & 9MFY23: Strong revenue performance across major business segments in spite of inflationary cost-push and geopolitical-related challenges; achieved growth of 11% over the previous year's quarter and 15% growth in a 9M period. Standalone operating EBITDA margins improved to 11.2% in comparison to 10.2% in Q3FY22 and 11.4% in 9MFY23 against 7.7% in 9MFY22. Engineering Segment Operating EBITDA margins improved to 13.3% in comparison to 11.5% in Q3FY22 and 13.5% in 9MFY23 against 9.7% in 9MFY23; Clocked the desired margin range now for the last many quarters. Improvement continues on the back of better quality contracts and an Increased share of Engineering export business and parting away with the majority of old legacy and CIF contracts aided in better margin performance in the engineering business. Export sales of 4,970 million in 9MFY23, achieved growth of 85% over the previous year's quarter and 96% growth in the 9M period. Export share in overall engineering revenue stood at 51% in Q3FY23 and 48% in 9MFY23. Our JV “Skipper-Metzer India LLP” (50:50) engaged in the business of manufacturing drip and micro irrigation systems has turned profitable and reported a PBT of Rs 47 million during the quarter, the consolidated Financial Results (CFS) results include our portion of the same. Order Book: Secured Our largest single order win valuing Rs 25,700 million from Bharat Sanchar Nigam Ltd. (BSNL) for the Supply and erection of Ground Based Telecom Towers, and subsequent O&M; for 5 years extendable to 5 more years in the uncovered villages of India under 4G saturation projects. Secured new order inflow of Rs 28,640 million during the quarter and YTD inflows of 37,270 million. The closing order book as on Q3FY23 stands at 47,050 million which is the highest ever in the company’s history and is well diversified across sectors and segments. Bidding Pipeline continues to remain strong - Actively pursuing projects worth Rs 52,000 million on the international front and about Rs 31,200 million on the Domestic front. Mr. Sajan Kumar Bansal, Managing Director, Skipper Ltd, Speaks on our largest order win ever and historic achievement: “ We are glad that we are playing a crucial role and contributing our bit towards India’s infrastructure development and proud to be part of government vision to provide mobile connectivity in rural areas. The project will promote the delivery of various e-governance services, banking services, telemedicine, tele education etc through mobile broadband and promote employment in rural areas” “ Our Company is the largest manufacturer of Telecom Tower in India, Backed by our forte in executing projects for the Telecom sector; this is another significant win for us. Our large engineering capacity to support captive manufacturing of telecom structures and decades of experience in building Tower sites on turnkey basis will vastly complement the execution of this prestigious project and will establish our company as a front runner in this domain. ” Result PDF