NSE: SKIPPER · BSE: 538562 · ISIN INE439E01022
Skipper Limited stock analysis
Skipper Limited ranks #908 in the TickerSutra evidence-ranked universe with a score of 59/100 and 95% data confidence. The latest captured fundamentals show ROCE of 23.5%, quarterly sales growth of 4.5% and quarterly profit growth of 26.4%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- ROCE is 23.5%
- 41% three-year sales CAGR
- Institutional ownership is rising
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Debt/equity is above 0.5×
- CFO/EBITDA is below 0.6×
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹1,707cr | ₹168cr | ₹29cr | 10.0% |
| 2023 | ₹1,980cr | ₹193cr | ₹33cr | 10.0% |
| 2024 | ₹3,282cr | ₹321cr | ₹75cr | 10.0% |
| 2025 | ₹4,624cr | ₹455cr | ₹146cr | 10.0% |
| 2026 | ₹5,553cr | ₹575cr | ₹207cr | 10.0% |
| TTM | ₹5,609cr | ₹586cr | ₹219cr | 10.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Skipper Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
Positive CatalystSkipper Ltd - 538562 - Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderBSE · 23 Sept 2026Skipper Limited has informed the Exchange about Bagging/Receiving of orders/contracts
MANAGEMENT COMMENTARY
Signals from filed documents
This expansion will position the Company to capitalise on the robust domestic and international transmission infrastructure opportunity while maintaining a disciplined approach to capacity creation. The Company continued to benefit from operating leverage as higher capacity utilisation enabled fixed costs to be absorbed over a larger production base, resulting in improved incremental margins. This operating leverage
The Company commissioned 75,000 MTPA of additional engineering manufacturing capacity, increasing total installed capacity from 3,00,000 MTPA to 3,75,000 MTPA. The new capacity commenced commercial production during FY26 and strengthened Skipper’s ability to service domestic and international demand. Why the expansion mattered Higher execution capability: The additional capacity increased the Company’s ability to exe
The Company expects further improvement in working capital efficiency, supported by a higher-quality order mix, favourable commercial terms in newly secured contracts, tighter project execution, disciplined collections and enhanced monitoring through the SAP S/4HANA RISE platform. Strategic initiatives Capacity expansion: Announced plans to enhance engineering capacity by 75,000 MT, progressing well, taking our insta
The highlights of our FY26 order wins: Achieved the highest ever annual order inflow in the company’s history, securing new orders worth over H56,780 million across the domestic and international markets Secured prestigious 800 KV Khavda HVDC projects, along with several 765Kv and 400Kv transmission line projects during the year Strengthened its position as a preferred execution partner for Power Grid Corporati
Engineering exports contribute significantly to its revenue, driven by long standing relationships with more than 300+ global EPC clients and utilities. Market leadership: The Company is the largest transmission tower manufacturers in India and holds a significant share in high voltage transmission tower segments (400 kv and above), with exports and domestic orders both contributing to its leadership position. Integr
#3 Annual Report 2025-26 | 57 • • -• Reality Skipper has evolved into a focused power transmission infrastructure play, offering integrated solutions to customers across the global markets. The Company delivered a steady improvement in margins and is working towards achieving around a 12% EBITDA margin alongside sustained revenue expansion. Margin progression is expected to be supported by a stronger mix of higher qu
Undertook regular financial planning and forecasting exercises to evaluate the Company’s financial position, anticipate potential challenges, and enable timely strategic decisions and efficient capital allocation. Investors / shareholders Value chain partners Working capital risk The Company may face working capital pressures arising from a prolonged operating cycle, which could strain liquidity and affect its
Continuous quality monitoring across manufacturing ensured consistency and reinforced the ‘India’s safest pipes’ positioning. Raw material volatility Fluctuations in key input costs such as PVC and CPVC can impact margins and create pricing pressure in a competitive market environment. Mitigation: Strategic sourcing, vendor diversification and continuous focus on process efficiencies helped manage cost volatility.
This transformation is creating one of India’s largest long-term infrastructure opportunities across transmission lines, grid modernisation, digital monitoring systems and power evacuation networks. Installed transmission line length Year Installed length (million km) 2024 0.486 2030E 0.600 2032E 0.648 (Source: ICRA) Region-wise split (2026-35E) Region Investment (USD trillion) Asia-Pacific 2.6 North America 1 Europe
Skipper’s integrated manufacturing platform Skipper built a fully integrated engineering system designed for execution certainty. End-to-end value chain integration across rolling, fabrication, galvanising and testing Standardised production systems ensuring repeatability Execution-linked production planning aligned with EPC timelines In-house testing and quality validation infrastructure Approximately 90%
Review process improvements that can help reduce emission intensity. Negative: Non- compliance with applicable air emission standards may lead to regulatory actions and associated costs and could affect operations in some cases. Air quality concerns may also increase stakeholder engagement requirements.
EPC: The Company maintains an active presence in EPC projects spanning power transmission and distribution, telecom, railway and water infrastructure in domestic markets. Its capabilities To ensure the greater scale and technology, the greater longevity of product, and introduce more efficient technologies for a longer duration of existence To reduce carbon footprint, and evolve towards a reduced consumption of h
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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