Skipper Limited (BSE: 538562) and NSE (Symbol: SKIPPER), one of the world's leading manufacturers for Power Transmission & Distribution structures and a prominent manufacturer of Telecom and Railway structures has announced about 2 positive development on the government policy front which will have a positive bearing on the company's growth and performance.
These announcements will further boost our export competitiveness and augurs well in terms of overall operational performance and future growth prospects
Restoration of RODTEP Scheme in our Engineering Product business
- Taking a major step to boost exports, Centre has further expanded the scope of RoDTEP (Remission of Duties and Taxes on Exported Products). The scope now includes export of articles of Iron and Steel under Chapter 73 of ITC (HS) schedule which mainly covers our Engineering exports products and items.
- The aforementioned development will boost our export competitiveness and potentially improve our operational performance.
Government Launches Transmission System Plan for integration of over 500 GW Renewable capacity by 2030
- The plan titled "Transmission System for Integration of over 500 GW capacity by 2030" entails connecting mega solar parks and wind power zone with National Grid System and will see an investment of Rs 2.44 trillion in domestic transmission projects.
- The plan includes construction of 8,120 circuit km (ckm) of high voltage direct current transmission corridors (+800 kV and +350kV), 25,960 ckm of 765 kV ac lines, 15,758 ckm of 400 Kv Lines and 1,052 ckm of 220 Kv Cables.
Commenting on the release Mr. Sharan Bansal, Director Skipper Limited said "Both these Steps and announcements are very positive for the Sector and our company. Skipper has successfully transformed itself from being a predominantly domestic player to a company with significant export business as its main stay. The restoration of RodTEP will give further boost to our export competitiveness and will bring more opportunities on our way."
"Our Tender pipeline continues to stay strong, The company is actively pursuing projects worth of Rs 5,400 crores on international front and about Rs 5,100 crores on the domestic front, which are currently under different phases of bidding or negotiation and we expect to see a significant portion of those getting converted into the order book by coming quarters."
He further added "A resilient and robust transmission infrastructure will be the backbone of India's and global clean energy dreams. It's a crucial component of our goals to reduce carbon emission too. The massive government capex plan towards integrating the Renewable sources is a welcome development and will provide a big boost to the domestic T&D sector and its sustainability going forward. We being the country's largest and only integrated manufacturer of T&D Structures are well positioned to capture these opportunities and deliver continuous growth and value creation."
"Going forward, the marketplace looks exciting and ripe with opportunities. 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."
Shares of Skipper Limited was last trading in BSE at Rs. 116.25 as compared to the previous close of Rs. 115.50. The total number of shares traded during the day was 199164 in over 4979 trades.
The stock hit an intraday high of Rs. 120.90 and intraday low of 111.90. The net turnover during the day was Rs. 23257796.00.