Skipper wins orders of Rs300cr in Engineering Product business

The company normally has regular monthly orders of ~Rs30- 35cr from telecom towers on account of strong traction in the domestic markets.

December 02, 2021 4:40 IST | India Infoline News Service
Skipper Limited
Skipper Limited has announced that it has secured fresh new order of Rs300cr for Transmission and Telecom towers from Power Grid Corporation of india (PGCIL) and from various export markets.

New Order Details
  • The company’s engineering business has secured Transmission tower export orders of Rs185cr for several T&D projects across Latin America, Middle East, West Asia and South Asia markets and Telecom towers from Latin America and Africa.
  • Also Secured New order of Rs115cr of Transmission Towers from Power Grid Corporation of India Ltd (PGCIL) projects.
YTD Order inflow & Strong Bidding Pipeline:
  1. YTD order inflows in excess of Rs1,300cr, registering a staggering growth of ~ 160% over the last year same period
  2. The company has a strong bidding pipeline of Rs5,000cr plus and expects a substantial rise in the volume of international orders in the current fiscal. Management expects the International business share in order book to rise to 75% in next 2 years.
“We have received fresh new orders worth Rs300cr in our Engineering products division, which included over 60% exports. Our team had a significant breakthrough with 2-3 utilities in West Asian Market, with multi-year supply agreements. Our share of international business is positioned to grow by 50% in the engineering segment for current year (FY’22) and to 75 % in next 2 years.

In addition, the company normally has regular monthly orders of approx Rs30- 35cr from telecom towers on account of strong traction in the domestic markets. Overall, we are builish about the economic revival in India and a number of foreign markets. More and more countries are increasing investments in T&D networks to connect more renewable power to the grid, in order to achieve their reduced carbon emission targets.

A well balanced order book of domestic and international orders, and an impressive bidding pipeline of Rs5,000cr, reaffirm our confidence in achieving the targeted growth going forward”.

Skipper ended at Rs78.30 apiece up by Rs11.35 or 16.95% on Sensex.

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