Skipper Achieves Highest-Ever Q1 Revenue, Announces Preferential Equity Raise Amid Strong Order Book
Skipper Limited reported resilient performance for the first quarter of FY27, marked by achieving its highest-ever first-quarter revenue and seeing significant expansion across all profitability levels. The company also announced a substantial preferential equity raise and received an upgrade to its long-term credit rating, boosting financial flexibility.The results reflect disciplined operations, improved operating leverage, and a favorable product mix, despite geopolitical uncertainty and temporary supply chain issues affecting exports.
Financial Highlights for Q1 FY27
The company demonstrated strong growth across key metrics:- Revenue: Registered a record first quarter revenue of ₹13,098.3 Mn, marking a 4.5% year-on-year (YoY) increase compared to the previous year's Q1 results (₹12,538.6 Mn).
- Profitability: Reported EBITDA grew 10.2% YoY to ₹1,401.1 Mn, reflecting an expansion of 60 basis points (bps) in EBITDA margin to 10.7%. Profit Before Tax (PBT) also increased by 26.5% YoY, with the PBT margin expanding 100 bps to 5.8%. Profit After Tax (PAT) grew 26.5% YoY to ₹564.7 Mn, and the PAT margin expanded 70 bps to 4.3%.
- Cash Flow: Cash Profit increased by 26.1% to ₹786.5 Mn.
The operational performance is detailed in the table below:
| Metric | Q1 FY'27 (Rs in Mn) | Q1 FY'26 (Rs in Mn) | YoY Change % |
|---|---|---|---|
| Revenues | 13,098.3 | 12,538.6 | 4.5% |
| Reported EBITDA | 1,401.1 | 1,271.7 | 10.2% |
| EBITDA Margins (%) | 10.7% | 10.1% | +60 Bps |
| Profit Before Tax (PBT) | 756.5 | 597.8 | 26.5% |
| PBT Margins (%) | 5.8% | 4.8% | +100 Bps |
| Profit After Tax (PAT) | 564.7 | 446.6 | 26.5% |
| PAT Margins (%) | 4.3% | 3.6% | +70 Bps |
Strategic Enhancements and Financial Strength
The company successfully raised ₹4,335 Mn through a preferential equity issue to marquee global and domestic long-only institutional investors. This capital infusion is targeted primarily towards debt reduction and strengthening the balance sheet, aiming to reduce finance costs and enhance financial flexibility for future growth in the global Power T&D sector.Complementing this funding success, CRISIL upgraded the company's long-term rating to A+/Stable, a move which was noted as enhancing the company's cost of capital and improving access to funds. Finance costs have been managed effectively, reducing to 3.6% of revenue from 4.2%.
Robust Order Book and Capacity Expansion
Skipper Limited maintains a highly robust business pipeline, providing strong multi-year revenue visibility. The company’s closing order book stood at an all-time high of ₹92,166 Mn, representing an increase of 8.4% over the March 2026 level (₹85,019 Mn).Q1'27 order inflow registered at ₹16,744 Mn. The overall bidding pipeline exceeds ₹35,000 Cr.
In terms of operational scaling, the company’s capacity expansion remains on track. The ongoing 75,000 MTPA expansion project is expected to increase installed capacity to 450,000 MTPA during FY27, setting a long-term roadmap target of 600,000 MTPA by FY29.
Segment Performance Overview
The company operates across Engineering Products, Polymer Products, and Infrastructure Projects segments.| Segment | Net Sales (Q1 FY'27) | EBITDA Margin (%) | Change % |
|---|---|---|---|
| Engineering Products | 9,401.3 Mn | 12.1% | -8.3% |
| Polymer Products | 1,170.0 Mn | 5.2% | 17.2% |
| Infra Projects | 2,527.0 Mn | 7.9% | 148.0% |
The Infrastructure Projects segment showed particularly strong growth in Q1 FY'27 with a Net Sales increase of 148.0%.
Industry Context and Outlook
Management noted that demand fundamentals for the transmission and distribution (T&D) sector remain exceptionally strong, driven by global electrification efforts, grid modernization, and rising investments in renewable integration.The company remains confident in delivering sustainable growth, supported by its strengthened balance sheet, expanding manufacturing capabilities, and favourable industry tailwinds. The firm is positioned to capture multi-decadal opportunities within the high-engineering transmission market.
SKIPPER Stock Price Movement
Shares of Skipper Limited today slipped by 0.57% to settle at ₹526.25 after trading in the market. The stock saw significant intraday movement, finding a low of ₹520 and peaking at ₹537.5.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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