Skipper shares hit 52-week high, zoom 16% in early trade; check details

Shares of Skipper Ltd, which is engaged in the manufacturing of power transmission & distribution structures, zoomed 16% in early trade after the firm said it has won cumulative orders totaling Rs 1,135 crore. The orders relate to design, supply and construction of new transmission line projects for Powergrid Corporation as well as tower and pole export supplies to Latin America, Middle East and North Africa region 

Skipper stock touched a fresh 52-week high of Rs 167 today against the previous close of Rs 143.95 on BSE. Total 2.14 lakh shares of the firm changed hands amounting to a turnover of Rs 3.49 crore. Market cap of the firm rose to Rs 1,687 crore. The stock has gained 200% in a year and risen 30% this year.    

In terms of technicals, the relative strength index (RSI) of Skipper stands at 72.8, signaling it's trading in the overbought territory. The stock has a beta of 1.1, indicating high volatility in a year. Skipper shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The Skipper stock hit a 52-week low of Rs 50 on June 20, 2022.    

On June 17, the company’s director Sharan Bansal said, “I am delighted to share that our Engineering and Infrastructure division has bagged fresh new orders worth Rs.1100 plus crores. These orders are for Design, Supply and construction of new Transmission line projects for Powergrid Corporation of India Limited as well as Tower and Pole export supplies to Latin America, Middle East and North Africa region. These orders serve as a resounding testament to our unwavering expertise and commitment to delivering exceptional services in the Power T&D industry. These order wins also reinforces our position as a trusted global Power T&D player, providing innovative solutions and contributing to the development of critical infrastructure worldwide.” 

The firm reported a 19% rise in revenue to Rs 657.36 crore in the March 2023 quarter against Rs 552.65 crore  in the March 2022 quarter.Net profit slipped 3.42% to Rs 23,72 crore in Q4 against Rs 24.56 crore in the March 2022 quarter. EBITDA rose 16.10% to Rs 71.60 crore in Q4 against Rs 61.67 crore in the March quarter of 2022.      

On an annual basis, net profit climbed 41.43% to Rs 35.57 crore for the fiscal ended March 2023 against Rs 25.15 crore for the fiscal ended March 2022. Revenue climbed 16.01% to Rs 1980.30 crore in the March 2023 fiscal against Rs 1707 crore for the fiscal ended March 2022.   

Skipper is engaged in the manufacturing and selling of transmission & distribution structures (towers & poles) being its engineering products segment and CPVC, UPVC, PVC, SWR Pipes& Fittings, being its polymer segment. 

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