Skipper sees doubling revenue to Rs 4,000 cr in 3 yrs

PTI | Kolkata | Updated: 16-05-2023 12:39 IST | Created: 16-05-2023 12:38 IST
Skipper sees doubling revenue to Rs 4,000 cr in 3 yrs
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Skipper Limited, a power transmission and distribution structures major, has set its sights on doubling revenue to Rs 4,000 crore over the next three years, according to a senior company official.

The company anticipates a compound annual growth rate (CAGR) of over 25 per cent for the next 3-4 years, driven by strong international and domestic demand for its engineering products.

The polymer business, which represented around 21 per cent of total revenue last fiscal, is also expected to see higher growth, according to the official.

''We hope to double the revenue to Rs 4,000 crore in three years with a CAGR of 25 per cent. We registered a topline of Rs 1,980 crore in FY23,'' Skipper Director Sharan Bansal said.

''The company has a solid order book of Rs 4,500 crore, with order inflow in FY23 reaching Rs 4,137 crore, of which Rs 410 crore was received in the March quarter,'' he said.

The push for investment in renewable power transmission infrastructure has created a very positive demand scenario globally, and the company is seeing demand not just from developing economies but also from developed ones, Bansal added.

The company has presence in 55 countries and would expand to 70 countries focusing on Africa and South America in the current fiscal.

Exports contribute about 20 per cent of Rs 1,980 crore topline of FY23.

About the domestic market, Bansal believes there will be more opportunities in India as the government has unveiled an ambitious plan to integrate 500 gigawatts of renewable power.

Bansal also stated that the polymer business is set for growth, with a new campaign featuring ace cricketer MS Dhoni as their brand ambassador.

He confidently projected that the business will see almost 40-45 per cent growth in the coming years, leading up to a Rs 1,000 crore topline in the next two to three years from the current Rs 400 crore.

Meanwhile, the company on Monday registered a standalone net profit of Rs 21 crore for the fourth quarter ended March, a decline of 17 per cent over the corresponding period's profit of Rs 25 crore.

The dip in profit was due to a mark-to-market forex loss of Rs 24 crore. However, revenue during the quarter stood at Rs 657 crore, an increase of 18.9 per cent.

Bansal also revealed that for the full year, EBIDTA margins improved to 11 per cent from 8.7 per cent in FY22.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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