Skipper Ltd secured new orders worth Rs.402 crore during the October-December quarter (Q3) of FY24.
In Q3FY24, the company secured significant orders for transmission tower exports from Middle East, apart from several power T&D projects in the domestic and international markets.
In the first three quarters of FY24 (9M: April to December), cumulative order inflows stood at Rs.3145 crore, the company said in an investor presentation filed on stock exchanges. Exports accounted for 24 per of Skipper’s cumulative order inflows in 9MFY24.
In 9MFY23, it may be mentioned, Skipper’s cumulative order inflows had touched a high of Rs.3,734 crore thanks to a record Rs.2863 crore of new orders in Q3FY23 – the highest in any financial quarter in the company’s history.
As of December 31, 2023, Skipper’s outstanding order book stood at Rs.5,779 crore, out of which domestic market accounted for 82 per cent and exports, 18 per cent.
Going by business segment, power T&D accounted for 42 per cent of the total outstanding order book position, as of December 31, 2023.
In the power T&D sector, Skipper’s activities largely comprise the manufacturing of power transmission towers, power distribution poles, and monopolies. The company is also engaged in EPC works related to power transmission and railway electrification.
Skipper Ltd has three business divisions – engineering products, infrastructure, and polymer. Power T&D-related activities fall under the first two.
The presentation also observed that engineering products exports made inroads into high-potential developed markets of North America, Asia Pacific, West Africa and Middle East, which were earlier dominated by Chinese/Turkish players.
In another development, during Q3FY24, Skipper secured new product approvals in MENA and LATAM market. The region holds tremendous power T&D opportunity, the presentation said.
The company has a robust bidding pipeline and actively pursuing projects worth Rs.9,830 crore on the international front and about Rs.5,200 crore domestically.
Though power T&D is currently driving Skipper’s overall business in terms of order inflow and order book, the company is strategically broadening its portfolio by increasing the proportion of non-power T&D products, such as railways and telecom. This has been yielding favourable results and is helping de-risk its exposure to power T&D, the presentation added.
Also read: Skipper Reports Best-Ever H1 Order Inflow In FY24
Featured photograph shows a manufacturing facility of Skipper Ltd.
