Skipper jumps to a new high

Skipper Ltd is into manufacture of transmission towers & poles, tubular poles, monopoles, PVC / CPVC Pipes & Fittings and Solar structures. The stock price has hit a new high today at Rs.214, surging 9% over yesterday’s close. Volumes on the counter are up almost 5 times.

The reason for this new found love for the stock is its performance for Q4FY17. On a total income of Rs.584 crore, up 10% (YoY), it posted a good 46% jump in net profit at Rs.53 crore. EBITDA also did well at Rs.91 crore, up 24% with margins going up from 13.8% to 15.6%.

The company’s order book stands at Rs.2589 crore of which 51% comes from Power Grid Corporation, 22% from others and it exports 27%. It updated further that it has got new orders from domestic markets worth Rs.376 crore and export orders worth Rs.124 crore for supply of power transmission towers & telecom pole.