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Swing Capital

Skipper Ltd

NSE: SKIPPER BSE: 538562Infra

Skipper Ltd is engaged in manufacturing and selling of Transmission & Distribution Structures and Pipes & Fittings. It also undertakes EPC projects in the infrastructure segment. [1]

₹448
52W: ₹300 — ₹588
PE 23.4 · Book ₹131 · +242% vs book
Market Cap₹5,056 Cr
Stock P/E23.4Price to Earnings
ROCE23.3%Return on Capital
ROE16.2%Return on Equity
Div. Yield0.02%Face Value ₹1

Strengths

  • +Company has delivered good profit growth of 60.1% CAGR over last 5 years

Weaknesses

  • −Company has a low return on equity of 13.7% over last 3 years.
  • −Debtor days have increased from 79.4 to 97.6 days.
  • −Company's cost of borrowing seems high
  • −Promoter holding has decreased over last 3 years: -5.39%

Shareholding Pattern

Promoters66.5%
FIIs6.07%
DIIs1.66%
Public25.77%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters66.48%66.48%66.48%66.48%66.48%66.48%66.48%66.5%▲0.0
FIIs3.64%4.39%▲0.74.82%▲0.45.13%▲0.35.42%▲0.36.55%▲1.16.37%▼0.26.07%▼0.3
DIIs0.24%0.24%0.48%▲0.20.3%▼0.20.25%▼0.00.49%▲0.20.8%▲0.31.66%▲0.9
Public29.65%28.89%▼0.828.23%▼0.728.08%▼0.227.84%▼0.226.48%▼1.426.35%▼0.125.77%▼0.6

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales8021,1541,0921,1101,1351,2881,2541,2621,3711,667
Expenses7251,0459879971,0241,1641,1271,1311,2291,493
Operating Profit77109105112111124127131141173
OPM %10%9%10%10%10%10%10%10%10%10%
Net Profit18243234364445375076
EPS ₹1.572.122.83.013.193.933.963.274.446.69

AI Insights

Revenue Trend

Mar 2026 revenue at ₹5,553Cr, up 20.1% YoY. OPM at 10%.

Debt Position

Borrowings at ₹948Cr. Debt-to-equity ratio: 0.65x. Moderate leverage.

Capex Cycle

CWIP at ₹273Cr (23% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 1.66% (+1.38pp change). FIIs: 6.07% (-3.86pp change). Promoters hold 66.5%.

Margin & Efficiency

ROCE declining from 31% (Mar 2015) to 23% (Mar 2026). Working capital days: 43.

Valuation

PE 23.4x with 23.3% ROCE. Price is 242% above book value of ₹131. Dividend yield: 0.02%.

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