Skipper - 3QFY17 Result Update - Transmission Capex Play; On Right Track - Reliance Securities

Skipper has reported in-line performance in 3QFY17. Its net revenue grew by 15.8% YoY to Rs4306mn, aided by healthy performance in all operating segments. Its EBITDA stood at Rs570mn, while reported EBITDA margin came in at 13.2% in 3QFY17 compared to 13.3% in 3QFY16. On the back of better execution, its PAT surged by 195% YoY to Rs223 mn. We continue to believe that a sizeable order book, huge imminent opportunity and diversification into PVC business firmly place Skipper on a higher growth trajectory. We reiterate our BUY recommendation on the stock with an unrevised Target Price of Rs187.

Source : Equity Bulls

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