Skipper Limited wins new orders of Rs 300 crores in Engineering Product business

Skipper Limited (BSE: 538562) and NSE (Symbol: SKIPPER), one of the world's leading manufacturers for Power Transmission & Distribution structures and a prominent manufacturer of Telecom and Railway structures has secured fresh new order of Rs 300 crores for Transmission and Telecom towers from Power Grid Corporation of india (PGCIL) and from various export markets.

New Order Details

• The company's engineering business has secured Transmission tower export orders of Rs 185 crores for several T&D projects across Latin America, Middle East, West Asia and South Asia markets and Telecom towers from Latin America and Africa.
• Also Secured New order of Rs 115 crores of Transmission Towers from Power Grid Corporation of India Ltd (PGCIL) projects.

YTD Order inflow & Strong Bidding Pipeline:

• YTD order inflows in excess of Rs 1,300 crores, registering a staggering growth of ~ 160% over the last year same period
• The company has a strong bidding pipeline of Rs 5,000 crores plus and expects a substantial rise in the volume of international orders in the current fiscal. Management expects the International business share in order book to rise to 75% in next 2 years.

"We have received fresh new orders worth Rs.300 crores in our Engineering products division, which included over 60% exports. Our team had a significant breakthrough with 2-3 utilities in West Asian Market, with multi-year supply agreements. Our share of international business is positioned to grow by 50% in the engineering segment for current year (FY'22) and to 75 % in next 2 years. In addition, the company normally has regular monthly orders of approx Rs 30-35 Crs from telecom towers on account of strong traction in the domestic markets. Overall, we are builish about the economic revival in India and a number of foreign markets. More and more countries are increasing investments in T&D networks to connect more renewable power to the grid, in order to achieve their reduced carbon emission targets. A well balanced order book of domestic and international orders, and an impressive bidding pipeline of Rs.5,000 crores, reaffirm our confidence in achieving the targeted growth going forward".

Shares of Skipper Limited was last trading in BSE at Rs. 78.90 as compared to the previous close of Rs. 66.95. The total number of shares traded during the day was 65734 in over 1354 trades.

The stock hit an intraday high of Rs. 80.30 and intraday low of 65.95. The net turnover during the day was Rs. 5050659.00.

Source : Equity Bulls

Keywords

SkipperLimited INE439E01022 OrderWin PowerGridCoroporationofIndia PGCIL Exports