Skipper soars 15%, hits 52-week high on winning orders worth Rs 1135 crore

Shares of Skipper soared 15 per cent to hit a 52-week high of Rs 167 on the BSE in Monday’s intra-day trade after the company announced it has won fresh orders worth Rs 1,135 crore from the domestic & international market.

The stock of the heavy electric equipment company has surpassed its previous high of Rs 148.85, touched on December 30, 2022. The average trading volumes on the counter jumped over three-fold today. A combined 4 million shares had changed hands on the NSE and BSE.

The company secured cumulative orders amounting of Rs 1,135 crore for design, supply and construction of new transmission line projects for Power Grid Corporation as well as tower and pole export supplies to Latin America, Middle East and North Africa region, Skipper said in a press release.

The company is one of the world's leading manufacturers for Power Transmission & Distribution structures and a prominent manufacturer of Telecom and Railway structures. Under the brand name of ‘Skipper’, the company manufactures premium quality polymer pipes & fittings, which serve both the agricultural as well as plumbing sectors.

As on March 31, 2023, Skipper had order book position of Rs 4,551 crore, which constitutes 20 per cent exports and 80 per cent domestics orders. The company said it has a strong bidding pipeline of Rs 6,600 crore international orders & Rs 3,520 crore of domestic ones and expects a strong revenue performance across its major business segments to continue.

With pending engineering executions and improvements in Polymer performance, the management anticipates a 25 per cent CAGR growth over the next three years. With the company’s winning spirit and collective determination, the management said the company will continue to reach newer heights in the upcoming financial year.