Shares of this multibagger stock under the ‘small-cap’ category traded in the green in Tuesday’s trading session after the company announced financial results for the quarter ended December 2023. In the past six months, the company’s stock has gained more than 40 percent for its stakeholders.
With a market capitalization of Rs 3,207.42 crores, the stocks of Skipper Limited started their trading session on Tuesday at Rs 279.90 and currently trade at Rs 284. The company’s scrip witnessed an intra-day high price of Rs 289 exhibiting a gain of around 3 percent compared to the previous closing levels of Rs 281.15 apiece.
Such bullish share price movements are observed today after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), announced financial results for Q3FY23-24, i.e., for the December 2023 quarter.
Sequentially, the prime indicators of business, viz, operating revenues as well as after-tax profits, showed positive movements with the former increasing from Rs 772 crores during Q2FY24 to Rs 802 crores during Q3FY24, and the latter, keeping the timeframe the same, staying stable at levels of Rs 18 crores.
On a YoY basis, the metrics mentioned above have shown good performance with the operating revenues taking a shift from Rs 445 crores during Q3FY23 to Rs 802 crores during Q3FY24, and the after-tax profits, during the same period, taking a shift from Rs 7 crores to Rs 18 crores exhibiting a gain of a whopping 157 percent.
Keeping a purview of one year, the company’s stock has delivered multibagger returns of approximately 195 percent to its stakeholders, viz, if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 2.95 lakhs.
According to the latest shareholding pattern for the December 2023 quarter, the company’s Promoters hold a 71.89 percent stake, and the Foreign Institutional Investors, decreasing their stake in the recent period, currently hold a stake of 7.4 percent stake in the company.
Skipper Limited is engaged in the business of manufacturing transmission and distribution structures as well as PVC Pipes & Fittings. It operates through three broad segments comprising engineering products, infrastructure, and polymer products. The business activities function through India but also export its product to various regions overseas.
Written by Amit Madnani
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