Skipper Stock Surges Over 13% to New All-Time High After Securing ₹737 Crore Order

Skipper Stock Surges

In its Engineering Products division, Skipper is a top producer of transmission and distribution structures (Towers & Poles), a well-known brand in the polymer industry, and a reliable partner for carrying out essential infrastructure EPC projects. According to its website, its global reach extends to more than 55 countries and encompasses continents including Latin America, Europe, and Africa. It also operates in sub-sectors such towers, EPC, monopoles, poles, and railway electrification structures.

Since July 2022, the company’s shares have been on a tear, ending the next 12 months out of 18 months in favourable territory and producing a multi-bagger gain of 623%. The stock has increased by almost 40% so far this month, making it one of the largest monthly profits since December 2022. The company reported a net profit of ₹56 crore for the initial nine months of the current financial year, up from ₹11 crore during the same period in the previous fiscal. In 9MFY24, operating revenue reached ₹2,128 crore, a 61% increase.

The company reported ₹20 crore in net profit as a whole in the most recent quarter (Q3 FY24), a 100% YoY growth, and ₹802 crore in operating revenue, an 80.22% increase over the ₹445 crore reported in the same time the previous year.

After the company received a sizable order, shares of Skipper surged 13.4% in early morning trading today to reach an all-time high of ₹401 apiece, continuing their winning run for the third straight trading day.