Skipper Ltd
Stock Snapshot
Price Performance
Vista Outlook
Basis of our Recommendation
Skipper Limited's management has expressed a bullish outlook for FY27, supported by a record unexecuted order book of INR 9,200 crores and a strong bidding pipeline. The company is transitioning towards higher-margin projects as legacy contracts expire, which is expected to enhance revenue growth and profitability. Vista's financial outlook reflects this optimism, forecasting stable margins and a long-term growth trajectory, with an expected upside of approximately 23.9%. The strategic focus on expanding export operations, particularly in developed markets, and the upcoming capacity expansion to 75,000 tons align with the anticipated increase in domestic and global demand for transmission infrastructure. However, challenges such as securing skilled labor and geopolitical risks remain pertinent. The infrastructure sector's recovery, particularly in power transmission and renewables, provides a favorable backdrop, although competitive pricing pressures could impact margins. Over the next 12-24 months, key opportunities include the expansion into high-margin projects and the growing demand for infrastructure modernization, while watchpoints include execution risks and potential geopolitical disruptions
Why We Like This Stock
- Record unexecuted order book of INR 9,200 crores indicates strong future revenue potential
- Transition towards higher-margin projects is expected to enhance profitability
- Strategic expansion into developed markets and capacity growth aligns with rising demand
Things To Watch Out For
- Challenges in securing skilled labor may hinder project execution
- Geopolitical risks could impact operational efficiency
- Competitive pricing pressures may lead to margin compression
Key Parameters
Financial Snapshot
View Technicals Analysis →| Actuals | Forecast | ||||
|---|---|---|---|---|---|
| FY24 | FY25 | FY26 | FY27 | FY28 | |
| Revenue (Cr.) | 3,282 | 4,624 | 5,553 | 5,155 | 5,469 |
| Profit Before Tax (Cr.) | 122 | 197 | 287 | 303 | 311 |
| PBT Margin | 3.7% | 4.3% | 5.2% | 5.9% | 5.7% |
| Net Profit (Cr.) | 75 | 145 | 236 | 249 | 257 |
| Earnings Per Share | 6.6 | 12.9 | 20.9 | 22.1 | 22.7 |
Analyst Recommendations
| Broker | Recommendation | Target Price | Date |
|---|---|---|---|
| Axis Securities | ► Hold | 520 | 29-Apr-2026 |
| Nuvama | ▲ Buy | 560 | 29-Apr-2026 |
Company Overview
Show Company Profile
Skipper Limited manufactures and sells transmission and distribution structures, telecom towers, and fasteners in India. The company operates through three segments: Engineering Products, Infrastructure Projects, and Polymer Products. The Engineering Products segment offers power transmission towers, telecom towers, tower accessories, fasteners, angles, channels, high mast and swaged poles, solar power systems, railway structures, as well as power distribution poles, transmission lines, monopoles, mild steel and high tensile angles, and other products. The Infrastructure Projects segment provides water engineering, procurement, and construction services for telecom, tower, and water, as well as coating services. The Polymer Products segment offers PVC, HDPE, CPVC, UPVC, SWR pipes and fittings, water tanks, bath fittings, and other related products, as well as agriculture pipes, borewell pipes and fittings, and solvent cement. The company also exports its products to approximately 65 countries covering South America, Africa, the Middle East, Australia, New Zealand, Europe, and South and South East Asia. The company was incorporated in 1981 and is based in Kolkata, India.