Skipper Ltd, which manufactures power transmission and distribution structures, reported a 3.4 per cent year-on-year (YoY) drop in profit after tax (PAT) to Rs 23.72 crore in Q4FY23 on the back of MTM losses arising from the depreciation of the rupee to the dollar. In the year-ago period PAT had stood at Rs 24.56 crore.
Revenues, the highest ever in a quarter for the company, was at Rs 657.35 crore, an increase of 18.9 per cent. For the whole of FY23, revenues at Rs 1,980.30 crore were higher by 16 per cent and PAT at Rs 35.57 crore was up by 41.4 per cent.
Sharan Bansal, director, Skipper Ltd, said that the company achieved its highest ever year-to-date order inflow of Rs 4,137 crore for engineering products supplies and EPC works.
The company’s closing order book as on March 31, 2023 was valued at Rs 4,551 crore, of which 80 per cent was domestic and 20 per cent exports.
Bansal said that Skipper accomplished “record-breaking” engineering exports sales and volumes with revenues from exports at Rs 723 crore in FY23, 80 per cent YoY growth compared to Rs 400 crore the previous year.
Going forward, the company was expecting a “healthy” growth.
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“We are expecting at least a 25 per cent CAGR growth over the next three years because the market has turned around quite well looking at the healthy demand scenario from a number of countries. A lot of countries are trying to move away from fossil-based generation to renewable generation because of net zero targets and that is leading to a growth in power transmission investments,” Bansal said.