Skipper Ltd on Monday reported its fiscal third quarter profit at Rs 20.47 crore, recording a jump of 115.2 per cent on-year. It had posted a profit of Rs 9.51 crore during the same period last year. The company recorded revenue from operations at Rs 801.58 crore, up 80.2 per cent in comparison to Rs 444.85 crore during the third quarter of FY23. The EBITDA stood at Rs 77.1 crore, up 69.8 per cent on-year and the margin was at 9.6 per cent. While the company reported total revenue for the quarter was at Rs 803.84 crore, Skipper Ltd incurred total expenses for the quarter in review at Rs 777.47 crore.
Skipper Ltd Q3 performance across businesses
Skipper Ltd’s engineering products business recorded Q3 revenue at Rs 517.66 crore. While the polymer products segment reported revenue of Rs 108.62 crore during Q3FY24, the infrastructure projects vertical posted revenue of Rs 175.31 crore.
Talking about the company’s order book position, Skipper Ltd said that Q3FY24 witnessed order inflow of Rs 402 crore and 9M YTD inflow of Rs 3145.00 crore for engineering products supplies & EPC works. Closing order book, it added, stood at Rs 5779 crore, which consists of 18 per cent exports and 82 per cent domestic orders. Similarly, it reported an order bidding pipeline of Rs 9830.00 crore international and Rs 5200.00 crore domestic. Polymer sector, meanwhile, achieved volume increase from 15,454 MT in 9M FY23 to 24,654 MT in 9M FY24, achieving a growth of 60 per cent.
Sharan Bansal, Director Skipper Limited, said, “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 per cent 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.”
Speaking on the results, Devesh Bansal, Director, Skipper Limited, said, “We achieved an order inflow totalling Rs 402 crore, contributing to a year-to-date inflow of Rs 3145 crore. Looking ahead, we anticipate a robust bidding pipeline in India, extending up to the year 2030, supported by GOV India’s ambitious 500 GW RE integration plan. This plan not only presents significant opportunities for Skipper in the renewable energy sector but also opens doors to various other business avenues for the company.