Electrical Equipment
Valuation | |
|---|---|
| Market Cap | 4.08 kCr |
| Price/Earnings (Trailing) | 22.3 |
| Price/Sales (Trailing) | 0.79 |
| EV/EBITDA | 8.37 |
| Price/Free Cashflow | -68.48 |
| MarketCap/EBT | 17.32 |
| Enterprise Value | 4.85 kCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | 7.4% |
| Price Change 1M | -16.9% |
| Price Change 6M | -29.9% |
| Price Change 1Y | -14.8% |
| 3Y Cumulative Return | 49% |
| 5Y Cumulative Return | 43.2% |
| 7Y Cumulative Return | 27% |
| 10Y Cumulative Return | 8.3% |
| Revenue (TTM) |
| 5.19 kCr |
| Rev. Growth (Yr) | 20.5% |
| Earnings (TTM) | 182.97 Cr |
| Earnings Growth (Yr) | 46.3% |
Profitability | |
|---|---|
| Operating Margin | 5% |
| EBT Margin | 5% |
| Return on Equity | 14.29% |
| Return on Assets | 4.55% |
| Free Cashflow Yield | -1.46% |
Cash Flow & Liquidity |
|---|
| Cash Flow from Investing (TTM) | -200.53 Cr |
| Cash Flow from Operations (TTM) | 153.27 Cr |
| Cash Flow from Financing (TTM) | 51.16 Cr |
| Cash & Equivalents | 5.89 Cr |
| Free Cash Flow (TTM) | -84.63 Cr |
| Free Cash Flow/Share (TTM) | -7.49 |
Balance Sheet | |
|---|---|
| Total Assets | 4.02 kCr |
| Total Liabilities | 2.74 kCr |
| Shareholder Equity | 1.28 kCr |
| Current Assets | 2.71 kCr |
| Current Liabilities | 2.13 kCr |
| Net PPE | 1 kCr |
| Inventory | 1.13 kCr |
| Goodwill | 0.00 |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.19 |
| Debt/Equity | 0.6 |
| Interest Coverage | 0.01 |
| Interest/Cashflow Ops | 1.71 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 0.1 |
| Dividend Yield | 0.03% |
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | 10% |
Technicals: Bullish SharesGuru indicator.
Balance Sheet: Reasonably good balance sheet.
Past Returns: Outperforming stock! In past three years, the stock has provided 49% return compared to 12.8% by NIFTY 50.
Growth: Good revenue growth. With 176.1% growth over past three years, the company is going strong.
Smart Money: Smart money is losing interest in the stock.
Insider Trading: Significant insider selling noticed recently.
Technicals: Bullish SharesGuru indicator.
Balance Sheet: Reasonably good balance sheet.
Past Returns: Outperforming stock! In past three years, the stock has provided 49% return compared to 12.8% by NIFTY 50.
Growth: Good revenue growth. With 176.1% growth over past three years, the company is going strong.
Smart Money: Smart money is losing interest in the stock.
Insider Trading: Significant insider selling noticed recently.
Investor Care | |
|---|---|
| Dividend Yield | 0.03% |
| Dividend/Share (TTM) | 0.1 |
| Shares Dilution (1Y) | 0.00% |
| Earnings/Share (TTM) | 16.22 |
Financial Health | |
|---|---|
| Current Ratio | 1.27 |
| Debt/Equity | 0.6 |
Technical Indicators | |
|---|---|
| RSI (14d) | 32.32 |
| RSI (5d) | 56.14 |
| RSI (21d) | 32.19 |
| MACD Signal | Sell |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Buy |
| RSI Signal | Hold |
| RSI5 Signal | Hold |
| RSI21 Signal | Hold |
| SMA 5 Signal | Buy |
| SMA 10 Signal |
Summary of Skipper's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Management Outlook and Key Points:
Revenue Growth: Targeting 25% CAGR over the next two years, driven by a robust order book (Rs.6,215 crores) and a strong bidding pipeline (Rs.16,730 crores). FY24 revenue surged 66% YoY to Rs.3,282 crores, exceeding guidance.
Margins: Aim to sustain Engineering EBITDA margins at ~11.6% and achieve consolidated EBITDA margins of 10%+ in FY25. Focus on operational efficiency, better contract mix, and export growth (28% of Engineering revenue in Q4).
Capacity Expansion: Increasing capacity from 300,000 to 375,000 tons by FY25-end, with further expansions planned. Polymer segment targets double-digit margins via volume growth (30% volume increase in FY24).
Order Visibility: Diversified order book (2.2x FY24 sales) with 87% domestic (53% T&D, 34% non-T&D) and 13% international. Telecom (BSNL/Vodafone projects) and global T&D (leveraging China+1 strategy) are key drivers.
Financial Discipline: Net working capital reduced to 88 days (from 131 days). Finance costs targeted at 4.4-4.5% of sales (vs. 4.7% in FY24). Focus on debt reduction and credit rating upgrades.
Segmental Focus: Infrastructure segment (Rs.349 crores in Q4) to sustain growth via T&D/railway projects. Polymer sales to benefit from stable commodity prices and rural demand.
Risks: Near-term election impact on order inflows, offset by long-term infrastructure spending tailwinds.
Major Highlights: Record revenue/order book, margin resilience, and focus on high-margin exports/international projects underpin confidence in sustained growth.
Understand Skipper ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| SKIPPER PLASTICS LIMITED | 17.75% |
| SK BANSAL LEGACY TRUST-HELD BY SAJAN KUMAR BANSAL TRUSTEE | 9.63% |
| SK BANSAL FAMILY TRUST HELD BY MEERA BANSAL TRUSTEE | 9.63% |
| SK BANSAL UNITY TRUST-HELD BY MEERA BANSAL AS TRUSTEE | 9.63% |
| SK BANSAL HERITAGE TRUST HELD BY SAJAN KUMAR BANSAL AS TRUSTEE | 9.63% |
| VENTEX TRADE PRIVATE LIMITED | 5.08% |
Detailed comparison of Skipper against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| KEC | KEC International | 17.76 kCr | 24.03 kCr | -9.60% | -17.90% | 26.07 | 0.74 | - | - |
| FINPIPE | Finolex Industries | 10.95 kCr | 4.31 kCr |
Comprehensive comparison against sector averages
SKIPPER metrics compared to Electrical
| Category | SKIPPER | Electrical |
|---|---|---|
| PE | 22.30 | 55.06 |
| PS | 0.79 | 5.27 |
| Growth | 15.3 % | 10.8 % |
Skipper Limited manufactures and sells transmission and distribution structures, telecom towers, and fasteners in India. The company operates through three segments: Engineering Products, Infrastructure Projects, and Polymer Products segments. The Engineering Products segment offers power transmission towers, telecom towers, tower accessories, fasteners, angles, channels, highmast and swaged poles, solar power systems, railway structures, etc., as well as power distribution poles, transmission lines, monopoles, and mild steel and high tensile angles. The Infrastructure Projects segment provides horizontal direct drilling and coating services, as well as engineering, procurement, and construction services. The Polymer Products segment offers PVC, HDPE, CPVC, UPVC, SWR pipes and fittings, water tanks, bath fittings, and other related products, as well as agriculture pipes, borewell pipes and fittings, and CPVC solvent cement. It also exports its products to approximately 54 countries covering South America, North America, Europe, Africa, the Middle East, South and Southeast Asia, and Australia. The company was incorporated in 1981 and is headquartered in Kolkata, India.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| Buy |
| SMA 20 Signal | Sell |
| SMA 50 Signal | Sell |
| SMA 100 Signal | Sell |
SKIPPER vs Electrical (2021 - 2026)
Dhruv Agarwal: What were the reasons for the significant fall in gross profit margins year-on-year and quarter-on-quarter?
The decline in quarterly margins was attributed to project mix variations, but annual EBITDA margins remained stable at 9.7%. Costs were offset by reduced expenses (other expenses dropped from 14.1% to 10% of revenue), ensuring consistent profitability. Gross margin fluctuations arose from differences in contract execution phases and project expenses.
Dhruv Agarwal: Will working capital days (88 days) remain at this level?
Net working capital is expected to stabilize between 90"“100 days, with efforts to improve further through operational efficiency and inventory management.
Dhruv Agarwal: Are increased long-term borrowings for capacity expansion, and will more debt be needed?
Current borrowings funded debottlenecking and optimization. Future capex (Rs.200 crore in FY25) will combine internal accruals and debt, though exact debt plans are undecided.
Dhruv Agarwal: When will new capacity be operational, and what peak revenue is expected post-expansion?
Capacity will reach 375,000 tons by FY25-end (partial Q3/Q4 commissioning). Revenue growth guidance remains 25% CAGR over FY24's Rs.3,282 crore base. Further expansions are planned for FY26.
Dhruv Agarwal: Will exports dominate order inflows given 65% of the bidding pipeline is international?
Domestic orders (75% of FY24 inflows) are prioritized due to faster execution, while international projects have longer cycles. FY25 expects a 75:25 domestic-export order mix.
Deepak Purswani: What was BSNL's FY24 revenue and FY25 outlook?
BSNL contributed Rs.1,000 crore in FY24, with Rs.700 crore expected in FY25.
Deepak Purswani: What is the FY25 margin and interest cost outlook?
Consolidated EBITDA margins aim for 10%+ in FY25. Interest costs (4.7% of FY24 revenue) target 4.4"“4.5% via improved credit ratings and working capital.
Balasubramanian: What is the telecom tower demand outlook?
Growth is driven by 5G rollouts, BSNL/Vodafone expansions, and India's rural electrification. Skipper holds 15"“20% market share in telecom towers.
Darshil Jhaveri: What is the order execution timeline and win rate?
Orders are executed over 2"“2.5 years. Blended win rate is 25"“30%, varying by market. Revenue growth may exceed 25% guidance given strong pipelines.
Rishi Kothari: How are global markets shifting from Chinese suppliers?
Geopolitical "China+1" strategies favor Indian manufacturers. Skipper's engineering strength and testing capabilities attract global clients, especially in North America, Africa, and Asia-Pacific.
Saket Kapoor: What are EPC margin trends and funding plans?
EPC margins benefit from fixed-price contracts. FY25 capex of Rs.200 crore will use internal accruals/debt. Blended interest cost is ~9%, with reductions expected via operational efficiency.
Ashish Ajit Golechha: What is the global T&D outlook and polymer margin target?
Global T&D investments may hit $6 trillion by 2030. Polymer aims for double-digit margins through volume growth (32,000 tons in FY24, +30% YoY) and stable input costs.
Vignesh Iyer: What is the telecom/T&D order book split?
87% of Rs.6,215 crore order book is domestic (53% T&D, 34% non-T&D). Telecom accounts for <10% of the bidding pipeline.
Prathmesh Salunkhe: What are Skipper's market shares?
15"“20% in telecom towers and T&D, 1"“2% in polymer pipes.
Gunjan Kabra: How do bidding dynamics and project cost splits work?
5"“6 competitors per bid. Transmission projects allocate ~30% to towers, 30"“35% to conductors. Win rates depend on design, testing, and regional factors beyond pricing.
Vignesh Iyer: Why is inventory at Rs.1,200 crore?
Inventory days improved to 135 (vs. 170 in FY23). Further optimization is planned, aligning with 25% revenue growth.
Ankit Babel: What interest cost and margin are expected at Rs.5,000 crore revenue?
Interest costs may drop below 4% of sales by FY26. EBITDA margins could reach 10.5% with scale and execution efficiency.
Dhruv Agarwal: What is polymer capacity utilization, and will elections impact orders?
Polymer utilization is 55%, targeting 75% by FY25-end. Elections may briefly slow orders, but FY25 inflows remain robust. Infrastructure revenue (10% of total) will stay 15"“20% long-term.
| THE PRUDENTIAL ASSURANCE COMPANY LIMITED | 2.07% |
| AAKRITI ALLOYS PRIVATE LIMITED | 1.95% |
| CHARTERED FINANCE & LEASING LIMITED | 1.76% |
| AJAY UPADHYAYA | 1.54% |
| SAMRIDDHI FERROUS PRIVATE LIMITED | 1.43% |
| INDIA CAPITAL GROWTH FUND LIMITED | 1% |
| SKIPPER POLYPIPES PRIVATE LIMITED | 0.84% |
| UTSAV ISPAT PRIVATE LIMITED | 0.38% |
| VAIBHAV METALS PRIVATE LIMITED | 0.36% |
| SAJAN KUMAR BANSAL | 0.09% |
| MEERA BANSAL | 0.01% |
| SHARAN BANSAL | 0.01% |
| SUMEDHA BANSAL | 0.01% |
| DEVESH BANSAL | 0.01% |
Distribution across major stakeholders
Distribution across major institutional holders
| -12.70% |
| 22.71 |
| 2.54 |
| - |
| - |
| 4.9% |
| 65 |
| 62 |
| 60 |
| 59 |
| 48 |
| 45 |
| Exceptional items before tax | 91.4% | 0 | -10.68 | 0 | 0 | 0 | 0 |
| Total profit before tax | 25.5% | 65 | 52 | 60 | 59 | 48 | 45 |
| Current tax | -192.8% | -10.14 | 13 | 16 | 13 | 13 | 12 |
| Deferred tax | 2349% | 25 | 1.98 | -0.55 | 1.32 | -1.11 | -0.72 |
| Total tax | 0% | 15 | 15 | 15 | 15 | 12 | 12 |
| Total profit (loss) for period | 44.4% | 53 | 37 | 45 | 48 | 36 | 33 |
| Other comp. income net of taxes | 667.2% | 30 | 4.78 | -0.12 | -0.66 | 1.01 | -1.17 |
| Total Comprehensive Income | 100% | 83 | 42 | 45 | 47 | 37 | 32 |
| Earnings Per Share, Basic | 59.2% | 4.63 | 3.28 | 4.01 | 4.3 | 3.35 | 3.13 |
| Earnings Per Share, Diluted | 59.2% | 4.63 | 3.28 | 4.01 | 4.29 | 3.35 | 2.92 |
| 38.6% |
| 213 |
| 154 |
| 104 |
| 93 |
| 72 |
| 85 |
| Depreciation and Amortization | 19.2% | 63 | 53 | 47 | 48 | 45 | 38 |
| Other expenses | -4.3% | 1,118 | 1,168 | 423 | 307 | 333 | 288 |
| Total Expenses | 40.4% | 4,449 | 3,169 | 1,939 | 1,681 | 1,555 | 1,374 |
| Profit Before exceptional items and Tax | 60.3% | 195 | 122 | 47 | 30 | 30 | 18 |
| Total profit before tax | 60.3% | 195 | 122 | 47 | 30 | 30 | 18 |
| Current tax | 100% | 51 | 26 | 8.12 | -10.12 | -0.62 | 0 |
| Deferred tax | -114.3% | -1.86 | 21 | 6.25 | 12 | 9.66 | -23.26 |
| Total tax | 4.3% | 49 | 47 | 14 | 1.74 | 9.04 | -23.26 |
| Total profit (loss) for period | 95.9% | 146 | 75 | 33 | 29 | 21 | 41 |
| Other comp. income net of taxes | -28.5% | -0.58 | -0.23 | 0.76 | 0.15 | 0.15 | -0.01 |
| Total Comprehensive Income | 97.3% | 145 | 74 | 33 | 29 | 21 | 41 |
| Earnings Per Share, Basic | 108.8% | 13.53 | 7 | 3.19 | 2.79 | 2.05 | 4.04 |
| Earnings Per Share, Diluted | 126.4% | 13.52 | 6.53 | 3.19 | 2.79 | 2.05 | 4.04 |
| 42.4% |
| 189 |
| 133 |
| 27 |
| 16 |
| 22 |
| 7.14 |
| Non-current investments | 0% | 10 | 10 | 10 | 10 | 11 | 11 |
| Loans, non-current | - | 0 | 0 | 0 | 0 | 0 | 0 |
| Total non-current financial assets | 48.9% | 68 | 46 | 49 | 42 | 61 | 56 |
| Total non-current assets | 18.8% | 1,304 | 1,098 | 863 | 816 | 822 | 766 |
| Total assets | 18.4% | 4,010 | 3,387 | 3,409 | 3,138 | 2,732 | 2,223 |
| Borrowings, non-current | 31.2% | 304 | 232 | 294 | 301 | 232 | 192 |
| Total non-current financial liabilities | 25% | 326 | 261 | 317 | 314 | 247 | 201 |
| Provisions, non-current | 19.3% | 11 | 9.38 | 7.79 | 7.21 | 5.99 | 6.35 |
| Total non-current liabilities | 58.2% | 615 | 389 | 442 | 491 | 309 | 350 |
| Borrowings, current | -0.9% | 466 | 470 | 441 | 276 | 481 | 292 |
| Total current financial liabilities | 15.4% | 1,999 | 1,733 | 1,924 | 1,528 | 1,272 | 901 |
| Provisions, current | 1.2% | 0.17 | 0.16 | 0.21 | 0.16 | 1.32 | 1.32 |
| Current tax liabilities | 39.8% | 12 | 8.87 | 2.93 | 0 | 1.08 | 3.76 |
| Total current liabilities | 17.1% | 2,126 | 1,815 | 2,012 | 1,756 | 1,623 | 1,105 |
| Total liabilities | 24.4% | 2,741 | 2,204 | 2,454 | 2,247 | 1,931 | 1,455 |
| Equity share capital | 0% | 11 | 11 | 11 | 11 | 10 | 10 |
| Total equity | 7.3% | 1,269 | 1,183 | 955 | 891 | 800 | 768 |
| Total equity and liabilities | 18.4% | 4,010 | 3,387 | 3,409 | 3,138 | 2,732 | 2,223 |
| Net Cashflows From Operating Activities |
| -23.2% |
| 153 |
| 199 |
| 284 |
| 17 |
| - |
| - |
| Proceeds from sales of PPE | 378.1% | 1.89 | 0.68 | 0 | 0 | - | - |
| Purchase of property, plant and equipment | 134.7% | 238 | 102 | 85 | 42 | - | - |
| Proceeds from sales of investment property | - | 0 | 0 | 1.83 | 1.67 | - | - |
| Interest received | 657.6% | 11 | 2.32 | 1.85 | 1.6 | - | - |
| Other inflows (outflows) of cash | 125.8% | 24 | -88 | -16.69 | -8.35 | - | - |
| Net Cashflows From Investing Activities | -7.2% | -200.53 | -186.98 | -97.94 | -48.16 | - | - |
| Proceeds from issuing shares | 200% | 148 | 50 | 0 | 0 | - | - |
| Proceeds from borrowings | -53% | 80 | 169 | 61 | 62 | - | - |
| Repayments of borrowings | 106.5% | 129 | 63 | 90 | 98 | - | - |
| Payments of lease liabilities | 341.2% | 10 | 3.04 | 0 | 0 | - | - |
| Dividends paid | 66.7% | 1.05 | 1.03 | 1.03 | 1.03 | - | - |
| Interest paid | 38.4% | 210 | 152 | 103 | 92 | - | - |
| Other inflows (outflows) of cash | 1387.4% | 173 | -12.36 | -51 | 162 | - | - |
| Net Cashflows from Financing Activities | 471.7% | 51 | -12.45 | -185.26 | 31 | - | - |
| Net change in cash and cash eq. | 328.3% | 3.9 | -0.27 | 1 | 0.16 | - | - |
Analysis of Skipper's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Dec 31, 2025
| Description | Share | Value |
|---|---|---|
| Engineering Products | 79.4% | 1.1 kCr |
| Infrastructure Projects | 13.0% | 178.1 Cr |
| Polymer Products | 7.6% | 104.4 Cr |
| Total | 1.4 kCr |