Financial Performance (Standalone, Rs. in Million)

Quarterly Comparison (Q1 FY27 vs Q1 FY26):

  • Revenue: ₹13,098 (vs ₹12,539) - +4.5% YoY
  • EBITDA: ₹1,401 (vs ₹1,272) - +10.2% YoY
  • EBITDA Margin: 10.7% (vs 10.1%) - +60 bps
  • Profit Before Tax: ₹757 (vs ₹598) - +26.6% YoY
  • PBT Margin: 5.8% (vs 4.8%) - +100 bps
  • Profit After Tax: ₹565 (vs ₹447) - +26.5% YoY
  • PAT Margin: 4.3% (vs 3.6%) - +70 bps

Key Financial Highlights:

  • Highest-ever first quarter revenue in company history
  • Margin expansion across all profitability metrics
  • Resilient performance despite geopolitical headwinds impacting export markets
  • Strong execution across infrastructure business segments

Order Book & Business Development

Order Book Position:

  • Closing Order Book: ₹92,166 million as of June 2026 (highest ever)
  • Growth: Up 8.4% from March 2026 level of ₹85,019 million
  • Q1 FY27 Order Inflow: ₹16,744 million

Project Highlights:

  • Secured two prestigious 765 kV transmission line projects from a reputed domestic developer in Maharashtra
  • Currently executing approximately 5,200 circuit kilometers of EHV & HVDC transmission line work
  • Bidding pipeline at all-time high level of more than ₹35 billion

Strategic & Operational Updates

Capital Raising:

  • Successfully raised ₹4,335 million through preferential equity issue to marquee global and domestic long-only institutional investors
  • Proceeds to reduce reliance on working-capital borrowings and fund ongoing growth plans

Credit Rating Update:

  • CRISIL upgraded long-term rating to A+/Stable
  • CRISIL A1 reaffirmed for short-term facilities

Capacity Expansion:

  • Ongoing 75,000 MTPA capacity expansion progressing well
  • Expected commissioning and operationalization by end Q2 FY26
  • Total installed capacity to increase to 450,000 MTPA from existing 375,000 MTPA

International Expansion:

  • Formed new wholly-owned subsidiaries in Brazil and UAE
  • USA entity expected to be established soon
  • Strong customer engagement across Middle East, Africa, Europe, North America, and Latin America

Management Commentary

Mr. Sharan Bansal, Director:

  • Q1 FY27 represents a disciplined start to the new financial year
  • Preferential allotment strengthens balance sheet and provides funding flexibility
  • CRISIL rating upgrade affirms improving financial profile
  • Company remains on track to deliver FY27 guidance of approximately 15% revenue growth and 30% PAT growth

Mr. Devesh Bansal, Director:

  • Quarter characterized by steady execution and capability build-out
  • International footprint expansion through new subsidiaries
  • Healthy order book and bidding pipeline maintained

Company Background

Skipper Limited is one of the world's leading manufacturers of Power Transmission & Distribution structures, a major EPC player in 765 kV transmission lines and substations, and a prominent manufacturer of Telecom and Railway structures. The company is also a significant player in the Polymer Pipes & Fittings industry, serving 65+ global locations. Listed on BSE (538562) and NSE (SKIPPER) in 2014 and 2015 respectively.