Skipper Ltd

The agency has also reaffirmed the company's short-term rating has been at 'Crisil A1'. Crisil Ratings stated that the upgrade in the ratings factor in the continuous strengthening of the business and financial risk profile due to increasing scale of operations supported by strong order book, healthy operating profitability levels and improving debt coverage indicators. Skipper's revenue has registered growth of about 20% on-year in fiscal 2026 driven by healthy execution of the order book which stood at Rs ~8,502 crore as on March 31, 2026. Besides, the company has also emerged as lowest bidder (L1) for few orders, which along with the existing order book, will ensure healthy revenue visibility over the medium term. The business risk profile will also continue to benefit from the strong technological capabilities of Skipper, its increasing market presence and established clientele, and the strong industry outlook of T&D sector in the domestic and international market. The company is in the process of raising about Rs 433.50 crore via preferential equity share allotment which shall be utilised majorly towards working capital requirement thereby reducing the reliance on debt of the company. The fund raise shall strengthen Skipper's financial risk profile and improve its key debt metrics. The rating continues to reflect established market position of the group in the power transmission and distribution (T&D) structures and polymer pipes and fittings manufacturing industry, healthy operating efficiency driven by integrated operations and healthy financial risk profile. These strengths are partially offset by working capital intensive operations and exposure to intense competition, any unprecedented cyclicality and slowdown in the end user industry as well as risks related to tender business. Skipper is broadly structured into three different business verticals that comprise the engineering division, polymer division and the engineering procurement construction (EPC) division. The entity is India's largest and the world's only integrated transmission and distribution company with their own structure rolling, manufacturing, tower load testing station, and transmission line EPC capabilities. The scrip fell 1.80% to currently trade at Rs 564.70 on the BSE. Powered by Capital Market - Live

Skipper has received revision in credit ratings from CRISIL as under: Total bank facilities rated - Rs 4621 crore Long term rating - Crisil A+/Stable (upgraded) Short term rating - Crisil A1 (reaffirmed)

Skipper announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 26 June 2026.

Skipper has incorporated a wholly owned subsidiary in the name of Skipper Transmission and Distribution LLC S.P.C in Abu Dhabi. The wholly owned subsidiary is established as part of the Company's long-term strategy to expand its operations beyond India and to create a dedicated platform for trading and marketing of its products in the global marketplace.

Skipper will hold a meeting of the Board of Directors of the Company on 3 June 2026.

Skipper has secured fresh new order of Rs 1,265 crore for several Domestic & International T&D projects. The business has secured new orders for power T&D projects across India and Export Markets Secured 765 Kv and 400 Kv line projects from a reputed domestic developer Supply of towers and monopoles for T&D projects in LATAM markets

On a consolidated basis, the company posted a net profit of Rs 78.06 crore in Q4 FY26, up 62.93% from Rs 47.91 crore in Q4 FY25 and higher by 47.87% compared to Rs 52.79 crore in Q3 FY26. Revenue from operations came in at Rs 1,666.58 crore, registering a 29.42% rise from Rs 1,287.75 crore in the year-ago quarter and a 21.60% increase from Rs 1,370.59 crore in the preceding quarter. Profit before tax stood at Rs 101.40 crore in Q4 FY26, up 49.01% vs Q3 and 61.75% vs Q4 FY25. At the operating level, total expenditure rose 28.27% YoY to Rs 1,493.18 crore, largely driven by a sharp increase in raw material costs, which surged 40.36% YoY to Rs 1,040.78 crore. Employee expenses also climbed 41.67% YoY to Rs 69.63 crore, though they declined 2.55% sequentially. Operationally, the company ended March 2026 with a record order book of Rs 8,502 crore, with a strong domestic skew of 90% and exports contributing 10%. Order inflows for FY26 stood at Rs 5,678 crore, driven by large EPC wins from PGCIL and international markets. In Q4 alone, inflows were Rs 1,029 crore, indicating sustained demand momentum. For the full year, Skipper reported revenue of Rs 5,552.82 crore, up 20.07% YoY. PBT rose 41.69% to Rs 281.47 crore, while PAT increased 42.71% to Rs 213.13 crore, reflecting operating leverage and strong execution. Cash flow generation also improved, with net cash from operating activities rising to Rs 277.38 crore in FY26 from Rs 153.27 crore in FY25. Skipper is among the world's leading manufacturers of power transmission and distribution structures. The company is a key EPC player in 765 kV transmission lines and substations, and also has a strong presence in telecom, railway structures, and polymer pipes and fittings.

Skipper announced that the Board of Directors of the Company at its meeting held on 28 April 2026, has recommended a Final Dividend of Rs.0.1 per share (i.e.10%), subject to the approval of the shareholders.

Net profit of Skipper rose 62.93% to Rs 78.06 crore in the quarter ended March 2026 as against Rs 47.91 crore during the previous quarter ended March 2025. Sales rose 29.42% to Rs 1666.58 crore in the quarter ended March 2026 as against Rs 1287.75 crore during the previous quarter ended March 2025. For the full year,net profit rose 42.71% to Rs 213.13 crore in the year ended March 2026 as against Rs 149.35 crore during the previous year ended March 2025. Sales rose 20.07% to Rs 5552.82 crore in the year ended March 2026 as against Rs 4624.48 crore during the previous year ended March 2025. ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var. Sales1666.581287.75 29 5552.824624.48 20 OPM %10.419.60 -10.319.77 - PBDT122.9379.91 54 371.95261.95 42 PBT101.4062.69 62 292.15198.65 47 NP78.0647.91 63 213.13149.35 43 Powered by Capital Market - Live

Skipper will hold a meeting of the Board of Directors of the Company on 28 April 2026.