Skipper Limited Achieves Highest-Ever Q2 Revenue Of ₹12,618 Million, 14% YoY Growth; EBITDA Up 16%, PAT Up 32% As Order Book Soars To ₹88,204 Million

Skipper Limited, one of the world’s leading manufacturers of power transmission and distribution structures, announced its financial results for the second quarter of FY26, ending September 30, 2025. The company achieved its highest-ever second-quarter revenue of ₹12,618 million, reflecting a 14% year-on-year increase. EBITDA also reached an all-time high of ₹1,307 million, up 16% from the previous year, with the EBITDA margin improving to 10.4%. Profit after tax (before exceptional items) rose by 32% to ₹449 million, supported by strong operational performance and a better quality mix of projects.

For the first half of FY26, Skipper reported record revenue of ₹25,156 million, up 14% year-on-year, driven by robust growth in domestic and export markets. Export revenue alone grew 27% to ₹5,234 million. Profitability improved significantly, with EBITDA margins expanding to 10.3% compared to 9.9% last year, thanks to operating leverage and efficient execution of high-quality transmission and distribution contracts. Profit before tax (before exceptional items) increased by 39% to ₹1,220 million, and profit after tax (before exceptional items) rose 37% to ₹895 million.

The company’s order book reached an all-time high of ₹88,204 million as of September 2025, consisting of 89% domestic and 11% export orders. During the quarter, Skipper secured ₹12,430 million in new orders, primarily for engineering product supplies and EPC works. Major highlights included winning two 765 kV transmission line projects from Power Grid Corporation of India Limited (PGCIL) in Rajasthan and Madhya Pradesh, further strengthening Skipper’s leadership in the high-voltage segment. Year-to-date, the company recorded ₹32,205 million in new orders, up 33% compared to last year, with a strong bidding pipeline exceeding ₹300,000 million.

On the operational front, Skipper’s EPC division is currently executing approximately 5,000 circuit kilometers of extra-high voltage (EHV) and high-voltage direct current (HVDC) transmission line work. The company also completed successful plant audits by new potential customers from the Middle East and North America, highlighting its growing global presence.

Skipper continues to expand its manufacturing capacity to meet rising demand. Its new facility with a capacity of 75,000 MTPA is now fully operational, and an additional 75,000 MTPA expansion is underway. The company aims to reach a total capacity of 600,000 MTPA by the end of FY28. Skipper also inaugurated its second test bed facility and completed its first test, marking an important milestone toward engineering excellence and global competitiveness. In addition, its R&D division has signed an MoU with IIT Kharagpur for research on galvanizing processes and predictive modeling.

The company is implementing SAP S/4HANA RISE to enhance operational transparency and efficiency and has also introduced sustainability initiatives such as a waste heat recovery system and bag filter installation to improve fuel consumption and support its ESG goals. Skipper expects to achieve a revenue growth rate of around 25% CAGR in FY26, with even stronger performance anticipated in the second half of the year.

Commenting on the performance, Executive Director Sharan Bansal said the quarter marked a key turning point for Skipper, both financially and strategically. He noted that record revenue and EBITDA reflect the company’s focus on higher-quality T&D projects and disciplined execution, positioning Skipper for sustained margin expansion. He added that with a strong order book and new capacities in place, the company is entering a phase of consistent earnings growth.

Executive Director Devesh Bansal highlighted the company’s growing strength in both domestic and global markets, emphasizing recent wins in large-scale PGCIL projects and successful audits by international utilities. He stated that with digital transformation initiatives like SAP S/4HANA RISE and ESG-driven efficiency measures, Skipper is building a strong foundation for long-term scale, transparency, and competitiveness on a global level.

Established in 1981, Skipper Limited is one of India’s largest power transmission and distribution structure manufacturers and ranks among the top ten globally by capacity. It also operates in the polymer segment, producing high-quality pipes and fittings under the Skipper brand for agriculture and plumbing applications. With a presence in over 65 countries across Latin America, Europe, and Africa, Skipper continues to expand its international footprint and remains committed to delivering cost-effective, high-quality infrastructure solutions.