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Skipper Ltd reports consolidated net profit of Rs. 11.45 crore in Q3FY21

Posted On: 2021-01-19 07:31:57 (Time Zone: Arizona, USA)


Skipper Ltd has reported financial results for the period ended December 31, 2020.

Financial Results (Q3 FY20-21) - QoQ Comparison

The company has reported total income of Rs.460.81 crores during the period ended December 31, 2020 as compared to Rs.403.97 crores during the period ended September 30, 2020.

The company has posted net profit / (loss) of Rs.11.45 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.12.54 crores for the period ended September 30, 2020.

The company has reported EPS of Rs.1.12 for the period ended December 31, 2020 as compared to Rs.1.22 for the period ended September 30, 2020.

FinancialsQ3 FY20-21Q2 FY20-21% Change
Total Income₹ 460.81 crs₹ 403.97 crsUp Tick 14.07%
Net Profit₹ 11.45 crs₹ 12.54 crsDown Tick -8.69%
EPS₹ 1.12₹ 1.22Down Tick -8.2%

Financial Results (Q3 FY20-21) - YoY Comparison

The company has reported total income of Rs.460.81 crores during the period ended December 31, 2020 as compared to Rs.301.06 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.11.45 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.4.62 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.1.12 for the period ended December 31, 2020 as compared to Rs.0.45 for the period ended December 31, 2019.

FinancialsQ3 FY20-21Q3 FY19-20% Change
Total Income₹ 460.81 crs₹ 301.06 crsUp Tick 53.06%
Net Profit₹ 11.45 crs₹ 4.62 crsUp Tick 147.84%
EPS₹ 1.12₹ 0.45Up Tick 148.89%

Financial Results (9 Months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.1085.79 crores during the 9 months period ended December 31, 2020 as compared to Rs.953.31 crores during the 9 months period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.12.40 crores for the 9 months period ended December 31, 2020 as against net profit / (loss) of Rs.13.13 crores for the 9 months period ended December 31, 2019.

The company has reported EPS of Rs.1.21 for the 9 months period ended December 31, 2020 as compared to Rs.1.28 for the 9 months period ended December 31, 2019.

Financials9 Months ended FY20-219 Months ended FY19-20% Change
Total Income₹ 1085.79 crs₹ 953.31 crsUp Tick 13.9%
Net Profit₹ 12.40 crs₹ 13.13 crsDown Tick -5.56%
EPS₹ 1.21₹1.28Down Tick -5.47%

Key Business Highlights

NABL accredited Tower & Monopole Testing Station: Skipper started operations in its new Tower & Monopole Test Station located in Howrah (West Bengal). The testing station has been assessed and accredited in accordance with the standard ISO/IEC 17025:2017 'General Requirements for the Competence of Testing & Calibration Laboratories' by NABL.

Order book Position: Q3 Fy'21 order inflow Rs. 2,300 Million for engineering products supplies from several SEB's and for various export supplies. The closing Order book as on December 31st 2020 is valued to be Rs. 15990 Million, which constitutes of 33% exports and 67% domestics orders. The company has a strong bidding pipeline of Rs.40,000 Million 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 50% in next 2years.

Skipper Polymer Growth: Skipper maintained a strict financial discipline focusing on the bottom-line and structuring the company to deliver sustainable results. The Polymer segment of the company witnessed a sharp rise in revenue of 63% as compared to last year same period, in spite of the challenging pandemic situation.

Skipper's preparedness to fight Covid 19: Skipper has actively resumed the manufacturing process. In order to kickstart the deliveries, the company with its key associates have chalked out extensive catch-up plans for various locations and work fronts to ensure timely completion and avoid any slippages. Currently Skipper is functional at 75% of its manufacturing capacity, post phase wise resumption of work. Detailed SOPs / protocols have also been devised in compliance with the instructions/ guidelines issued by the Govt. of India.

Speaking on the occasion Mr.Sharan Bansal, Director Skipper Limited, said, "Despite adverse micro/macro economic factors Skipper has been able to register growth in both revenues and profits. With operations reaching normalcy, our closing order book stood at Rs.15990 million, which constitutes of 67% domestic & 33% export, with an order inflow of Rs.2300 million for engineering products supplies from several SEB's and for various export supplies. The Company is able to tide over the current challenging environment of rising raw materials and freight cost with its strong Balance Sheet, diversified portfolio and robust order book, which act as a bulwark against the economic cyclicality. We are also hopeful to see a steady growth in our revenues from exports in the next 2years.

At Skipper we are constantly benchmarking ourselves to be best in class and in pursuing focused approached to be world-class fully integrated Power T&D company through development agenda coupled with strong strategic partnerships for business excellence and high governance standards. Through its integrated philosophy focusing on long-term value creation, Skipper is striving towards nation building and fueling sustainability and will continue to explore avenues of growth.

Commenting on the release today Mr.Devesh Bansal, Director, Skipper Limited said "We have been consistent in delivering performance with our sustained focus on the market growth thereby creating value for all our stakeholders. We are happy to share; there has been a significant rise of 63% yoy, from Rs.384 Million to Rs.626 Million in the revenues of Polymer Division, due to our concentrated efforts to streamline operations through implementation of TOC. At Skipper Limited our Focus in 2020 had been strengthening long term partnerships, expanding our global footprints and enhancing our customer centricity by supplying world class products at best possible rates.

Mr. Bansal further added "At Skipper Limited we believe actions reflects the ultimate destination of our transformed company - an enterprise positioned to capture sustainable growth through a laser focus on innovating across our product portfolio, building strong brands, and leveraging unparalleled customer service through a wider network. As we continue on our path to transform the global system, we remain committed to our strategic actions for growth and service to the nation."

Shares of Skipper Ltd was last trading in BSE at Rs.69.2 as compared to the previous close of Rs. 66.65. The total number of shares traded during the day was 12316 in over 364 trades.

The stock hit an intraday high of Rs. 69.95 and intraday low of 66.1. The net turnover during the day was Rs. 844504.


Source: Equity Bulls

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