Skipper's engineering business secures new order of Rs225 crore; Stock soars 2.5%

13 Sep 2022 , 09:18 AM

Skipper Limited has announced that it has secured fresh new order of Rs225 crore for several Domestic & International T&D projects including Telecom.

New Order Details

• The company’s engineering business has secured export orders of Rs125 crore for several T&D projects across Latin America, Middle East and South Asia markets
• Bagged a new order of Rs100 crore from Power Grid Corporation of India Ltd (PGCIL), Domestic SEB’s & Telecom Companies

Strong Bidding Pipeline:

The company bidding pipeline are at its highest ever level of Rs9,500 crore plus and hopes for substantial rise in the volume of international orders in the current fiscal year. Management expects the international business share in order book to rise to 75% in coming 2 years.

Sharan Bansal, Director Skipper Limited said “Our Tender pipeline continues to stay strong, and the company is actively pursuing projects worth of Rs4,500 crore on international front and about Rs5,000 crore on the domestic front, which are currently under different phases of bidding or negotiation. 

He further added “Going forward, the marketplace looks exciting and ripe with opportunities. We are well positioned to capture these opportunities and deliver continuous growth and value creation. A strong Engineering order book and rebound in the Polymer market segment give us good visibility and confidence of achieving the desired growth and deliver up to your expectations”

At around 9:18 AM, Skipper Ltd is currently trading at Rs71.15 per share up by Rs1.7 or 2.45% from its previous closing of Rs69.45 per share on the BSE.

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