Kolkata-based Skipper Limited, a maker of power transmission and distribution (T&D) structures and a transmission line contractor, reported standalone profit after tax of ₹57.47 crore for the September 2026 quarter, up 56% from ₹36.89 crore a year earlier. The results were filed on 30 October 2026. Revenue rose 10% to ₹1,383.98 crore, the company’s highest for a second quarter. The closing order book reached a record ₹10,066 crore, even as export revenue fell about 46%.
Key Financial Details
The figures below are standalone, from the company’s results and press release:
- Revenue: ₹1,383.98 crore, up 10% from ₹1,261.79 crore
- EBITDA (earnings before interest, tax, depreciation and amortisation): ₹144.8 crore, up 11% from ₹130.7 crore, with the margin at 10.5% against 10.4%
- Half-year revenue: ₹2,693.81 crore, up 7% from ₹2,515.65 crore
- Half-year profit after tax: ₹113.9 crore, up 40% from ₹81.55 crore
The year-earlier profit was struck after an exceptional charge of ₹10.68 crore, which lifts the 56% comparison. Profit before exceptional items and tax rose 25% to ₹77.6 crore from ₹62.19 crore. Finance cost fell to 3.2% of revenue from 4.2%. Consolidated profit after tax for the quarter was ₹58.04 crore, against ₹37.03 crore a year earlier.
By segment, engineering products brought in ₹1,040.38 crore, against ₹997.37 crore. Infrastructure projects rose to ₹215.44 crore from ₹149.07 crore, and polymer products rose to ₹128.16 crore from ₹115.35 crore.
Export revenue moved the other way, falling to ₹106.4 crore from ₹198 crore. The company attributed this to delays and temporary holds linked to geopolitical developments in West Asia. For the half year, exports fell about 49% to ₹268.4 crore from ₹523.4 crore.
Orders and Bidding Pipeline
Order inflow for the quarter was ₹2,111 crore, up 70% from a year earlier. First-half inflow was ₹3,785.5 crore, up 18%. Export order inflow reached ₹1,054 crore, the highest for any quarter, and the company said this exceeded its entire FY26 export inflow.
The order book rose 18.4% from its March 2026 level. Domestic T&D accounts for 73% of it, exports 17% and domestic non-T&D work 10%. Within the export book, North America holds 44%, Australia 19%, the Middle East 18% and Africa 17%.
The company put its bidding pipeline at more than ₹35,000 crore. It said it won three 765 kV line projects from a domestic developer during the quarter. It also reported its largest order in North America, a multi-million-dollar contract with a utility. It has not named the developer or the utility, and it has not given the value of either award. The company is executing about 5,500 circuit kilometres of extra-high voltage and high-voltage direct current line work.
Management Comment
Director Sharan Bansal said that the quarter reflected a focus on profitable growth. Sharan Bansal said developments in West Asia had affected exports, but that business fundamentals remained strong. Director Devesh Bansal said that the results reflected execution and continued demand for the engineering business. Devesh Bansal added that the record export inflow and the North American contract strengthened the company’s international presence.
Capacity and Policy Backdrop
Skipper said its 75,000 MTPA (metric tonnes per annum) expansion is on track and likely to be operational by the second half of FY27. That would lift installed capacity from 3,75,000 MTPA to 4,50,000 MTPA. The company has also set out a roadmap to reach 6,00,000 MTPA by FY29.
The company’s presentation, citing an industry report, ties this plan to transmission spending under the National Electricity Plan. It gives a capital outlay of ₹9.2 trillion on lines above 220 kV during FY22-32. It says the network is set to grow to 6.48 lakh circuit kilometres in FY32 from 4.85 lakh circuit kilometres in 2024, and that 33 GW of high-voltage direct current links are in planning. The company has not said what share of this work it expects to win.
About the Company
Skipper was established in 1981 and is listed on the BSE and NSE. It makes transmission and distribution structures, monopoles, poles and railway electrification structures, and it also sells polymer pipes and fittings. In its press release, the company says it is the largest in India and fifth largest globally by manufacturing capacity in its T&D business. It says it serves more than 65 countries.
The Company’s Recent Moves
The company’s filings and presentation list these developments:
- Equity raise: ₹433.5 crore through a preferential issue at ₹470 a share
- Board: R N Nayak, former Chairman and Managing Director of Power Grid Corporation of India Limited, joined as an Independent Director
- Execution: charged the Sikar II–Khetri 765 kV line of about 144 km in Rajasthan
- 26 October 2026: incorporated Skipper Gridtech Inc in Texas, USA, with investment of up to US$50,000, disclosed on 30 October
- 30 October 2026: approved buying all of Sansha Fastener Private Limited in Tamil Nadu for ₹15.5 crore, to add fastener capacity in South India
Outlook
The company has given 31 December 2026 as the indicative completion date for the Sansha acquisition. Export revenue fell in the quarter even as export orders reached a record, and the company has not said when the West Asia delays will clear. It has also not given a revenue target or a timeline for executing the order book. The next results will show how far the export orders have moved into sales.
Official Sources
- Skipper Limited – Press release on financial performance, Q2 FY27 (NSE, 30 October 2026): https://nsearchives.nseindia.com/corporate/skipper_30102026171617_pressreleasefinal.pdf
- Skipper Limited – Unaudited financial results for the quarter ended 30 September 2026 (NSE, 30 October 2026): https://nsearchives.nseindia.com/corporate/skipper_30102026140346_Outcome.pdf
- Skipper Limited – Investor presentation, October 2026 (NSE, 30 October 2026): https://nsearchives.nseindia.com/corporate/skipper_30102026142803_INVESTORPRESENTATION.pdf
- Skipper Limited – Board outcome with acquisition of Sansha Fastener Private Limited (NSE, 30 October 2026): https://nsearchives.nseindia.com/corporate/skipper_30102026141018_Outcome.pdf
- Skipper Limited – Incorporation of wholly owned subsidiary in the USA (NSE, 30 October 2026): https://nsearchives.nseindia.com/corporate/skipper_30102026172219_INCORPORATION_OFWOS.pdf
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