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Skipper Ltd Reports Record Q3 FY26 Revenue of ₹1,370 Cr and All-Time High Order Book of ₹9,009 Cr
Skipper Limited achieved its highest-ever quarterly revenue of INR 1,370 crores, marking a 21% YoY growth, alongside a 40% surge in PAT to INR 50.2 crores. The company's order book reached a record USD 1 billion (INR 9,009 crores), providing strong revenue visibility for the next two years. Management maintained a growth guidance of 20-25% for the next three years, supported by a massive INR 9 lakh crore national transmission capex plan. Capacity expansion is on track to reach 450,000 tons by the end of FY26, which is expected to further improve operating leverage.
Key Highlights
Highest ever quarterly revenue of INR 1,370 crores, up 21% YoY, with PAT rising 40% to INR 50.2 crores.
Order book stands at an all-time high of INR 9,009 crores (~USD 1 billion) with 90% domestic and 10% export mix.
EBITDA margins improved to 10.3% from 9.8% YoY, driven by operating leverage and better quality contracts.
Manufacturing capacity is expanding to 450,000 tons by FY26-end, with 75,000 tons already recently commissioned.
Robust bidding pipeline of approximately USD 3 billion (over INR 27,000 crores) across domestic and international markets.
💼 Action for Investors
Investors should view the record order book and margin expansion as strong indicators of multi-year growth potential in the T&D sector. The company's successful capacity ramp-up and 20-25% revenue growth guidance make it a compelling play on India's power infrastructure cycle.
Skipper Q3 PAT Surges 40% to ₹502 Mn; Order Book Hits Record $1 Billion
Skipper Limited reported a strong Q3 FY26 with revenue growing 21% YoY to ₹13,706 Mn and PAT (before exceptional items) rising 40% to ₹502 Mn. The company achieved its highest-ever quarterly EBITDA of ₹1,414 Mn, with margins expanding by 50 bps to 10.3% due to a shift toward high-value T&D projects. The closing order book reached a record high of approximately $1 billion (₹90,093 Mn), providing strong multi-year revenue visibility. Management has maintained a 20%+ revenue CAGR guidance for the current year, supported by a robust $3 billion bidding pipeline.
Key Highlights
Revenue grew 21% YoY to ₹13,706 Mn, while EBITDA increased 28% to ₹1,414 Mn.
EBITDA margins improved to 10.3% from 9.8% YoY, driven by operating leverage and execution of complex T&D contracts.
Order book stands at an all-time high of ₹90,093 Mn, with 9M FY26 order inflows up 24% YoY at ₹46,490 Mn.
Manufacturing capacity is on track to reach 450,000 MTPA by the end of FY26 with a new 75,000 MTPA expansion underway.
Secured prestigious 765 kV transmission line EPC projects from PGCIL in Uttar Pradesh and Karnataka.
💼 Action for Investors
The record order book and margin expansion signal strong structural growth in the power transmission sector. Investors should monitor the execution of the large EPC projects and the commissioning of new capacities as key drivers for future earnings.
Skipper Ltd Q3 FY26 PAT Surges 40% to ₹502 Mn; Order Book Hits Record ₹9,009 Cr
Skipper Limited reported its highest-ever quarterly performance for Q3 FY26, with revenue growing 20.7% YoY to ₹13,706 million. Operating PAT surged 40% to ₹502 million, supported by EBITDA margin expansion to 10.3% and a reduction in finance costs to 4.1% of sales. The company's order book reached an all-time high of ₹90,093 million, providing strong multi-year revenue visibility. Management is aggressively expanding capacity to 450,000 MTPA by year-end to capitalize on a ₹27,000 crore bidding pipeline.
Key Highlights
Highest-ever quarterly revenue of ₹13,706 million (+20.7% YoY) and Operating PAT of ₹502 million (+40% YoY).
Record order book of ₹90,093 million (~$1.1 billion), representing a 42% YoY growth with a $3 billion bidding pipeline.
EBITDA margins improved by 50 bps to 10.3%, driven by operating leverage and execution of high-quality T&D contracts.
Capacity expansion to 450,000 MTPA is on track with a ₹2,500 million CAPEX plan, with 75,000 MTPA already operational.
Strategic partnership with Lubrizol for CPVC piping and planned overseas subsidiaries in UAE, Brazil, and the USA.
💼 Action for Investors
Investors should view the record order book and margin expansion as strong indicators of sustained growth and improved earnings quality. The company's focus on high-voltage T&D projects and global expansion makes it a key beneficiary of the global power infrastructure cycle.
Skipper Ltd Q3 FY26 PAT Jumps 40% YoY to ₹502 Mn; Revenue Grows 21%
Skipper Limited reported a strong performance for the quarter ended December 31, 2025, with revenue from operations growing 20.7% YoY to ₹13,705.91 million. Net profit (PAT) saw a significant surge of 39.7% YoY, reaching ₹501.69 million compared to ₹359.14 million in the previous year's corresponding quarter. The Engineering Products segment remains the primary driver, contributing over 79% of total revenue. Despite a ₹47.89 million impact from new labour code adjustments, the company maintained robust margins and improved EPS to ₹4.41.
Key Highlights
Revenue from operations increased by 20.7% YoY to ₹13,705.91 million
Net Profit (PAT) grew by 39.7% YoY to ₹501.69 million
Engineering Products segment revenue rose to ₹10,881.27 million from ₹9,066.78 million YoY
Basic EPS improved to ₹4.41 from ₹3.33 in the same quarter last year
Recognized ₹401.50 million in Other Comprehensive Income related to commodity hedge contracts
💼 Action for Investors
Investors should view the strong double-digit growth in revenue and profit as a positive sign of operational efficiency and demand in the engineering segment. The stock remains a solid play in the power transmission and infrastructure space given the consistent performance.
Skipper Limited Assigned CARE A1 Rating for ₹150 Crore Short-Term Bank Facilities
Skipper Limited has received a new credit rating from CARE Ratings Limited for its short-term bank facilities. The agency assigned a 'CARE A1' rating to facilities amounting to ₹150.00 crore. This rating indicates a very strong degree of safety regarding the timely payment of financial obligations and carries the lowest credit risk. The assignment of this high-grade rating reflects the company's stable credit profile and liquidity position.
Key Highlights
CARE Ratings Limited assigned a 'CARE A1' rating to short-term bank facilities.
The total facility amount covered under this rating is ₹150.00 crore.
The 'A1' rating is the highest category for short-term debt instruments, signifying strong creditworthiness.
The disclosure was made on January 15, 2026, in compliance with SEBI Listing Obligations.
💼 Action for Investors
Investors should view this as a positive validation of the company's short-term financial health and liquidity. No immediate action is required, but it confirms the company's ability to access low-cost short-term funding.
Skipper Limited Receives 'CARE A1' Rating for ₹100 Crore Short-Term Bank Facilities
Skipper Limited has been assigned a credit rating of 'CARE A1' by CARE Ratings Limited for its short-term bank facilities. The rating covers facilities amounting to ₹100.00 crore. A 'CARE A1' rating is the highest in its category, indicating a very strong degree of safety regarding the timely payment of financial obligations and carrying the lowest credit risk. This assignment underscores the company's robust short-term liquidity position and creditworthiness.
Key Highlights
CARE Ratings Limited assigned a 'CARE A1' rating to the company's short-term bank facilities.
The total amount covered under this credit rating assignment is ₹100.00 crore.
The 'A1' rating signifies the highest level of safety for short-term debt instruments in India.
This disclosure was made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.
💼 Action for Investors
Investors should take this as a positive indicator of the company's financial health and its ability to access short-term capital at competitive rates. No immediate portfolio changes are necessary based on this routine credit update.
Skipper Limited Assigned CRISIL A/Stable and CRISIL A1 Credit Ratings
CRISIL Ratings Limited has assigned new credit ratings to Skipper Limited, signaling a healthy financial profile. The company received a 'CRISIL A/Stable' rating for its long-term instruments and a 'CRISIL A1' rating for its short-term obligations. These ratings reflect the company's established market position and a stable outlook for its future financial performance. This external validation is likely to support the company's ability to raise capital and manage borrowing costs effectively.
Key Highlights
Long-term credit rating assigned as 'CRISIL A' with a 'Stable' outlook
Short-term credit rating assigned as 'CRISIL A1' by CRISIL Ratings Limited
Ratings indicate a high degree of safety regarding timely servicing of financial obligations
Disclosure made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015
💼 Action for Investors
Investors should take this as a positive indicator of the company's creditworthiness and operational stability. Monitor for any potential reduction in interest costs in future earnings reports as a result of these favorable ratings.
Skipper Ltd Shareholders Approve Increase in Borrowing Limits to ₹8,000 Crores
Skipper Limited has received shareholder approval via postal ballot to significantly increase its borrowing powers to a limit of ₹8,000 Crores. The resolution passed with a strong majority of 95.08%, indicating robust investor support for the company's potential expansion and capital requirements. Additionally, shareholders approved the creation of charges or mortgages on the company's movable and immovable assets to secure these borrowings. This move provides the company with substantial financial flexibility to fund future projects and operational needs.
Key Highlights
Shareholders approved increasing borrowing powers under Section 180(1)(c) to a maximum of ₹8,000 Crores.
Approval granted for creating mortgages and charges on company assets under Section 180(1)(a) up to ₹8,000 Crores.
The borrowing resolution received 95.08% votes in favor (76,045,003 votes) from 221 members.
The asset charge resolution also received 95.08% votes in favor (76,044,868 votes) from 218 members.
The e-voting process concluded on December 18, 2025, with results declared on December 19, 2025.
💼 Action for Investors
Investors should monitor how the company utilizes this expanded borrowing capacity for growth-oriented projects. While the increased limit provides financial headroom, it is important to track future debt-to-equity ratios and interest coverage as the company scales.
Skipper Ltd Shareholders Approve Increase in Borrowing Limits to ₹8,000 Crores
Skipper Limited has received shareholder approval to significantly increase its borrowing powers to a limit of ₹8,000 Crores. The resolution, passed via postal ballot, also authorizes the company to create mortgages or charges on its movable and immovable assets to secure these borrowings. Both special resolutions were passed with a strong majority of over 95% votes in favor. This move provides the company with the necessary financial flexibility to support future expansion and working capital requirements.
Key Highlights
Shareholders approved increasing borrowing powers under Section 180(1)(c) to a maximum of ₹8,000 Crores.
Approval granted for creating mortgages and charges on company assets up to the ₹8,000 Crore limit.
The resolution for increased borrowing power passed with 95.08% of valid votes (76,045,003 votes) in favor.
The resolution for asset charge creation passed with 95.08% of valid votes (76,044,868 votes) in favor.
A total of 280 members participated in the e-voting process which concluded on December 18, 2025.
💼 Action for Investors
Investors should view this as a positive step enabling future growth, but should monitor the company's actual debt-to-equity levels and interest coverage as they utilize this new limit.
Skipper Limited Seeks Shareholder Approval to Increase Borrowing Limits
Skipper Limited has concluded a postal ballot process to seek shareholder approval for increasing the company's borrowing powers under Section 180 (1) (c) of the Companies Act, 2013. Additionally, the company sought approval for creating mortgages or charges on its movable and immovable assets to secure future borrowings. The e-voting period for these special resolutions concluded on December 18, 2025. The final results and the scrutinizer's report are expected to be disclosed within two working days.
Key Highlights
Proposed increase in borrowing powers under Section 180 (1) (c) of the Companies Act, 2013
Approval sought for mortgage and charge creation on company assets under Section 180 (1) (a)
Remote e-voting period concluded on December 18, 2025, at 5:00 PM IST
Consolidated voting results to be submitted to stock exchanges within two working days
Resolutions were proposed as Special Resolutions requiring 75% majority for approval
💼 Action for Investors
Investors should monitor the upcoming announcement of the specific borrowing limit and the company's intended use for the additional capital, which may signal expansion plans. Check the final voting results to ensure strong shareholder support for these financial maneuvers.
Skipper Limited Wins Tax Dispute; ₹10.21 Crore CGST Demand Dropped
Skipper Limited has successfully resolved a significant tax dispute with the CGST authorities. The Office of the Additional Commissioner, Kolkata South Commissionerate, has dropped a tax demand totaling ₹10.21 crore. This demand was originally raised in April 2025 regarding differences in unbilled revenue for the financial years 2017-18 and 2018-19. The disposal of these proceedings removes a potential financial liability and legal overhang for the company.
Key Highlights
Entire tax demand of ₹10,21,17,234 (₹10.21 crore) has been dropped by the CGST authorities.
The dispute related to unbilled revenue for the financial years 2017-18 and 2018-19.
The order was passed by the Office of the Additional Commissioner, Kolkata South Commissionerate, on December 1, 2025.
All proceedings initiated under the Show Cause Notice dated April 16, 2025, now stand disposed.
💼 Action for Investors
This is a positive development as it eliminates a significant contingent liability. Investors can view this as a reduction in legal risk, though it does not impact the company's operational performance.