Skipper rose 14.70% to Rs 71.80 after the company announced that it secured fresh orders worth Rs 225 crore for several domestic & international T&D projects, including telecom.
The company's engineering business has secured export orders of Rs 125 crore for several T&D projects across Latin America, Middle East and South Asia markets. It also secured new order of Rs 100 crore from Power Grid Corporation of India Ltd (PGCIL), domestic SEBs & telecom companies.
The company said its bidding pipeline are at its record level of Rs 9,500 crore plus. The firm said it expects a substantial rise in the volume of international orders in the current fiscal. The company's management expects the international business share in order book to rise to 75% in next 2 years.
Sharan Bansal, director Skipper said: "Our Tender pipeline continues to stay strong. The company is actively pursuing projects worth of Rs 4,500 crores on international front and about Rs 5,000 crores on the domestic front, which are currently under different phases of bidding or negotiation. For majority of bids under submission. Our scope is supply and we have tied up with several EPC players who are bidding for such projects. We expect to see a significant portion of those getting converted into the order book by coming quarters.
He further added Going forward, the marketplace looks exciting and ripe with opportunities. We are well positioned to capture these opportunities and deliver continuous growth and value creation. A strong Engineering order book and rebound in the Polymer market segment give us good visibility and confidence of achieving the desired growth and deliver up to your expectations."
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Skipper manufactures power transmission & distribution structures and telecom and railway structures. Under the brand name of 'Skipper', the company manufactures polymer pipes & fittings for agricultural and plumbing segments.
On a consolidated basis, Skipper reported net loss of Rs 0.65 crore in Q1 June 2022 as against net loss of Rs 9.96 crore in Q1 June 2021. Net sales rose 51.50% to Rs 416.09 crore in Q1 June 2022 over Q1 June 2021.
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