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Business News/ Markets / Stock Markets/  Skipper stock zooms over 13% to hit a new all-time high on 737 crore order win
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Skipper stock zooms over 13% to hit a new all-time high on ₹737 crore order win

The company shares have been on a bull run since July 2022, closing the following 12 out of 18 months in positive territory, resulting in a multi-bagger return of 623%. In the current month so far, the stock has gained nearly 40%, marking one of the biggest monthly gains since December 2022.

In the recent December quarter (Q3 FY24), the company posted ₹20 crore in consolidated net profit, a 100% YoY improvement. (Pixabay)Premium
In the recent December quarter (Q3 FY24), the company posted 20 crore in consolidated net profit, a 100% YoY improvement. (Pixabay)

Maintaining their winning streak for the third consecutive trading session, shares of Skipper jumped 13.4% in today's early morning trade to hit a new record high of 401 apiece after the company secured a significant order. 

The company informed investors through an exchange filing on Saturday that it bagged an order worth 737 crore for the design, supply, and construction of a new 765 kV transmission line project for Power Grid Corporation of India Limited (PGCIL).

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Commenting on the announcement, Mr Sharan Bansal, Director, Skipper Limited, said, "We are pleased to share our latest achievement in our power transmission and distribution business, reinforcing our optimistic stance on this sector. 

"The steady stream of orders from PGCIL has notably strengthened our order book in India's Transmission and Distribution (T&D) domain. With a year-to-date order intake exceeding Rs. 3,900 crores, these recent victories are poised to play a crucial role in propelling our anticipated growth trajectory in the times ahead," he added. 

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Meanwhile, the company shares have been on a bull run since July 2022, closing the following 12 out of 18 months in positive territory, resulting in a multi-bagger return of 623%. In the current month so far, the stock has gained nearly 40%, marking one of the biggest monthly gains since December 2022. 

Skipper is one of the world's leading manufacturers of transmission & distribution structures (Towers & Poles) in its Engineering Products segment, a leading brand in the polymer sector, and a trusted partner for executing critical infrastructure EPC projects.

Its international footprint spans across continents such as Latin America, Europe, and Africa and is spread across 55+ countries with a presence across sub-segments such as towers, EPC, monopoles, poles, and railway electrification structures, its website showed. 

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In the recent December quarter (Q3 FY24), the company posted 20 crore in consolidated net profit, a 100% YoY improvement, while it posted revenue from operations of 802 crore, an 80.22% surge compared to 445 crore posted in the same period last year.

For the first nine months of the current fiscal year, the company posted a net profit of 56 crore as compared to a net profit of 11 crore in the same period of the last fiscal. The revenue from operations in 9MFY24 stood at 2,128 crore, a 61% jump.

Disclaimer: We advise investors to check with certified experts before taking any investment decisions.

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Published: 26 Feb 2024, 09:54 AM IST
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