National : Skipper Limited (BSE: 538562) and NSE (Symbol: SKIPPER) is one of the world’s leading manufacturers for Power Transmission & Distribution structures. It is a major EPC player in 765 kV transmission lines and substation, and a prominent manufacturer of Telecom and Railway structures. Skipper, also a significant player in Polymer Pipes & Fittings industry, announced its results for the second quarter of FY 27, ended 30th September 2026.
Stand Alone Financials (Rs. in Million)
| Particulars | Q2 FY’27 | Q2 FY’26 | Change % | H1 FY’27 | H1 FY’26 | Change % |
| Revenue | 13,840 | 12,618 | 10% | 26,938 | 25157 | 7% |
| EBITDA | 1,448 | 1,307 | 11% | 2,849 | 2,579 | 11% |
| EBITDA Margin % | 10.5% | 10.4% | +10 bps | 10.6% | 10.3% | +30 bps |
| Profit Before Tax | 776 | 622 | 25 % | 1,533 | 1,220 | 26 % |
| Profit After Tax | 575 | 369 | 56 % | 1,139 | 816 | 40 % |
Q2 Highlights
• Recorded highest ever Q2 Revenue at ₹13,840 mn , up 10 % YoY
• EBITDA at ₹1,448 mn , up 11 % YoY, margin improved to 10.5%
• PAT jumps 56 % YoY to ₹ 575 mn.
H1’27 Highlights
• Highest ever half yearly revenue at ₹ 26,938 million, up 7 % YoY
• Achieved Strong Profitability and Margin growth, Stand Alone EBITDA margin improved to 10.6% vs 10.3% YoY driven by operating leverage and execution of higher quality T&D contracts
• Highest ever half year PAT – jumps 40 % YoY to ₹ 1,139 mn, PAT margin to sales improved to 4.2% against 3.2%
Order Book & Bidding Pipeline
• Record Closing Order Book (Sep -26) –₹ 100,657 million, constitutes 83 % domestic & 17 % export
• H1’27 YTD new order inflows at ₹ 37,855 mn, secured significant large size domestic EPC contracts from PGCIL and International market
• Q2 FY’27 order inflow ₹ 2,111 mn up 70% over last year quarter
• Highest ever Exports Order inflows for any quarter – ₹ 10,540 Mn
• Strong traction in both domestic and international market continues, highest ever Bidding pipeline over ₹ 350,000 mn
• Skipper EPC Division is currently executing approx. 5,500 circuit kilometers of EHV & HVDC transmission line work as of Sep 2026
• Secured a multi-million-dollar contract – our largest order to date in the North American market – with a top-tier utility company
Other Business update & Capacity Expansion
• Strengthened global presence with the establishment of USA subsidiary; complementing existing subsidiaries in Brazil and UAE
• Successfully charged Sikar II – Khetri TL 03 765 KV line (144 KM approx.) line in the state of Rajasthan during the quarter
• The ongoing 75,000 MTPA capacity expansion is on track and likely to be commissioned and operational by H2’27, taking our total installed capacity to 450,000 MTPA from existing 375,000 MTPA
• Significantly diversified export order book, with the middle east now contributing just under 18% in export mix, while developed markets, particularly North America and Australia, account for the majority share
• Successfully raised ₹4,335 Mn through a preferential equity issue to marquee global and domestic long-only institutional investors at an issue price of ₹470 per share, Investors include Small cap World Fund & American Fund Insurance (Backed by Capital Group), Bandhan Small Cap Fund, Cohesion MK Best Ideas and Emerge Private Opportunities Trust.
• Strengthened Board leadership and governance with the appointment of Mr R N Nayak, former CMD of Power Grid Corporation of India Ltd (PGCIL), as an Independent Director, bringing invaluable leadership excellence and deep domain expertise in the power transmission sector
• Received Great Place to Work certification for the 5th consecutive year
Director Speaks
Commenting on the results, Mr. Sharan Bansal, Director, Skipper Limited, said: “Q2 FY’27 reflects our continued focus on profitable growth, with revenue reaching a record Rs. 13,840 million for the quarter, up 10% year-on-year, and PAT growing 56% to Rs. 575 million. For H1 FY’27, we recorded our highest-ever half-yearly revenue of Rs. 26,938 million and PAT of Rs. 1,139 million, up 40% year-on-year. Our EBITDA margins also improved, reflecting operating leverage and disciplined execution. Despite geopolitical developments in West Asia impacting exports during the period, our business fundamentals remain strong, supported by a record closing order book of over Rs. 100,657 million and an all-time high bidding pipeline exceeding Rs. 350,000 million. We remain focused on sustaining our growth momentum, strengthening profitability and expanding our presence across domestic and international markets.”
Speaking on the results, Mr. Devesh Bansal, Director, Skipper Limited, said: “Our performance in Q2 and H1 FY’27 reflects the strength of our execution capabilities and continued demand for our Engineering business. During the period, we secured our highest-ever quarterly export order inflows of Rs. 10,540 million and a multi-million-dollar contract in North America, our largest order to date in the region, further strengthening our international presence. The ongoing 75,000 MTPA capacity expansion is on track and likely to be commissioned and operational by H2’27, taking our total installed capacity to 450,000 MTPA from existing 375,000 MTPA. With the establishment of our US subsidiary, complementing our presence in Brazil and the UAE, we are well positioned to deepen our global reach and capitalise on emerging opportunities across key markets.”
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