Skipper Ltd, a leading manufacturer of power transmission and distribution, has guided for 25 percent CAGR revenue growth over the next three years. The company on Thursday reported a net profit of Rs 16.2 crore for the first quarter of FY24.

Speaking to CNBC-TV18, Sharan Bansal, Director of Skipper said, “We have been guiding for 25 percent CAGR revenue growth over the next three years and we are well on track to achieve that. With regards to margins, we have seen improvements this year, and we are consistently hoping for better margins in the coming quarters.”

Skipper, a prominent player the polymer segment as well, posted a 46 percent growth in the first quarter revenue over the year-ago quarter in this segment.

Its engineering segment's operating EBITDA margin for Q1 FY24 was at 12 percent.

Bansal elaborated, "Our Profit Before Tax (PBT) margins currently range between approximately 2.5 to 3 percent. We are setting our sights on achieving a margin of around 3.5 percent, a target we believe is entirely feasible."

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Addressing the company's order dynamics, Bansal highlighted a significant achievement in this quarter. The company experienced a record-breaking order influx of approximately Rs 1,200 crore, marking the highest ever for a first quarter.

Moreover, Skipper boasts a substantial closing order book valued at roughly Rs 5,300 crore. This impressive order trajectory has solidified the company's confidence in sustaining and further strengthening their margins.

The company was aiming at bidding opportunities in an international order pipeline of Rs 6, 000 crore and in domestic projects worth Rs 6,550 crore. It is well-positioned to capitalise on the growth opportunities in the power, telecom, and railway sectors.

With inputs from agencies

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(Edited by : C H Unnikrishnan)

First Published:Aug 11, 2023 2:39 PM IST