Shares of this smallcap manufacturing company gained 5.14 percent after the company reported robust growth for Q2 with 560 percent increase in profits and more. The company has a market capitalization of Rs. 2,353.71 crores.
At 11:45, 8th November shares of Skipper Ltd were trading at Rs. 237.40 per share, up by 5.14 percent from previous closing price of Rs. 225.80 per share. The stock has delivered multibagger returns of 234.04 percent in the last 1 year.
Such bullish stock price movements were observed after the company announced results for Q2FY24 and reported 67.2 percent revenue growth to Rs. 772 crores from Rs. 462 crores in Q2FY23. Moreover, profit increased by 417.4 percent to Rs. 28.5 crores from Rs. 5.2 crores in Q2FY23 with margins increasing by 90 bps to 9.5 percent in the same time period.
Looking at the profitability ratios, the company reported return on equity (ROE) of 4.74 percent and return on capital employed (ROCE) of 12.14 percent in the last financial year.
The company’s promoters possess roughly 71.89 percent of the shares, while the public owns 19.87 percent with the foreign institutional investors (FIIs) holding about 8.09 percent leaving the remaining 0.15 percent shares with the domestic institutional investors (DIIs).
Established in 1981, Skipper Ltd. has undergone significant growth to become a global leader in the manufacturing of Transmission & Distribution Structures, including towers and poles, within its Engineering Products segment. It has also established itself as a renowned brand in the Polymer sector and a reliable partner for the execution of critical Infrastructure EPC projects.
Written by: Vinit Israni
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
