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Skipper surges after strong Q4 earnings

Capital Market 

Skipper jumped 6.08% to Rs 208.50 at 9:30 on after net profit rose 46.12% to Rs 52.78 crore on 8.02% growth in net sales to Rs 564.66 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 15 May 2017.

Meanwhile, the S&P Sensex was up 155.80 points or 0.51% at 30,477.92. The Small-Cap index was up 70.24 points or 0.45% at 15,720.61.

On the BSE, 41,000 shares were traded on the counter so far as against the average daily volumes of 22,228 shares in the past one quarter. The stock had hit a high of Rs 214 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 206 so far during the day.

The stock had hit a 52-week low of Rs 125.25 on 15 November 2016. It had outperformed the market over the past one month till 15 May 2017, advancing 5.87% compared with the Sensex's 2.92% rise. The scrip had also outperformed the market over the past one quarter, gaining 34.16% as against the Sensex's 7.69% rise.

The small-cap company has equity capital of Rs 10.23 crore. Face value per share is Rs 1.

The company's operating earnings before interest, taxation, depreciation and amortization (EBITDA) rose 1.98% to Rs 74.87 crore in Q4 March 2017 over Q4 March 2016. EBITDA margin dropped to 13.3% in Q4 March 2017, from 14% in Q4 March 2016.

Skipper's Director Sharan Bansal said that the company's top line growth has been improving on the expected lines. Its international orders clearly affirm its efforts to diversify the geographical spread of its order book. Skipper is confident of maintaining its growth targets on the back of its robust order book and consistent focus on strengthening the bottom line.

Skipper is one of the leading companies in the power transmission & distribution and the polymer products segment.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 16 2017. 09:31 IST