With a market capitalization of Rs 1,734 crores, the shares of Skipper Limited opened their trading hour today at Rs 160 and currently trade at Rs 169. The scrip witnessed an intra-day high, which is also the new 52-week high mark, of Rs 172.80 indicating an up movement of 20 percent compared to the previous closing levels of Rs 144.
Such sharp movements in the stock prices were observed after the company, through a regulatory filing with the exchange, announced that it received orders worth Rs 1,135 crores from Domestic as well as International Markets.
The order pertains to the construction of new Transmission line projects for ‘Powergrid Corporation’ as well as Tower and Pole export supplies to the Middle East, Latin American, and North African regions.
The latest consolidated financial numbers reported by the company represent an increase in operating revenues from Rs 1,707 crores during FY21-22 to Rs 1,980 crores in FY22-23. Moreover, the net profit numbers, keeping the timeframe the same, went up from Rs 28 crores to Rs 32 crores.
According to the shareholding data available for the March 2023 quarter, Promoters of the company hold a 71.89 percent stake, and Foreign Institutional Investors (FIIs) hold a 9.51 percent stake in the company.
Skipper Limited (India) is engaged in the process of manufacturing distribution as well as transmission structures, PVC Pipes & Fittings. The company functions through India but also exports its products to the Middle East, Australia, Southeast Asia, etc. It generates most of its revenue from the ‘Engineering Products’ segment offering power distribution poles, fasteners, etc.
Written by Amit Madnani
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