Skipper Ltd Q4 FY26 Earnings Analysis
Published 4 Jul 2026 | Electrical Equipment | Market Cap: ₹6.2K Cr
Price
₹522
Market Cap
₹6.2K Cr
P/E Ratio
28.8
Revenue Rank
Margin Rank
Earnings Summary
FY '27 revenue growth guidance is 15%, with a more conservative outlook due to export challenges and delayed domestic bidding. Future Growth Expectations for Skipper Limited: - FY '27 revenue growth guidance: Conservative 15% increase due to export execution challenges and delayed bidding activities.
📊 Revenue & Sales Performance
Rank 3- →FY '27 revenue growth guidance is 15%, with a more conservative outlook due to export challenges and delayed domestic bidding.
- →From FY '28 onward, expected growth will rebound to 20-25% annually.
- →Polymer Products business has seen ~40% volume growth despite market challenges, with ongoing expansion in non-Eastern markets.
- →Capacity expansion of 75,000 MTPA expected to come online by Q2 FY '27, reaching significant utilization by Q3, adding roughly INR1,000-1,200 crores revenue yearly.
- →Order book is strong (~INR8,500 crores) with a healthy bidding pipeline (~INR33,000 crores) and a historical 20-25% conversion ratio.
- →Export markets face near-term setbacks but large opportunities remain, especially in North America and Latin America.
- →Long-term multiyear growth expected, driven by record order book, rising capacity utilization, expanding export footprint, and scalable manufacturing base.
📈 Profitability & Margins
Rank 2🏗️ Capital Expenditure Plans
Yes- →Skipper Limited is undertaking a capacity expansion of 75,000 MTPA expected to come live by Q2 FY '27, with full utilization likely in 1-2 quarters thereafter.
- →This expansion is projected to add approximately INR 1,000 to 1,200 crores in yearly revenue.
- →Post this 4,50,000 MTPA capacity, another two phases of 75,000 MTPA expansions are planned across FY '27 and FY '28, aiming to reach 6 lakh metric tons capacity by FY '28.
- →FY '27 capex guidance is around INR 250 crores, similar to previous years.
- →The company is focusing on scaling capacity in line with execution capabilities and engineering manpower growth.
- →Strategic thrust includes expanding export footprints and entering new geographies like North America while increasing presence in substations within transmission infrastructure.
- →Overall, Skipper aims at a structurally scalable manufacturing base to support multi-year growth, profitability, and return ratios.
💰 Fundraising & Capital Structure
No information- →No explicit mention of any current or planned new fundraising through debt or equity was made in the discussed sections.
- →The company talked about maintaining capex guidance of about INR250 crores for FY '27, indicating planned internal funding for expansion.
- →There is no indication of major debt raising or equity issuance for funding growth or bidding activity.
- →Focus seems to be on execution capability and managing existing order books and bidding pipelines, rather than fundraising.
- →The company is targeting order inflows from existing bidding pipelines and maintaining a conservative growth guidance, suggesting no urgent need for new capital raising.
📋 Order Book & Pipeline
No- →Current order book stands at around INR 8,500 crores.
- →The domestic order book is predominantly from Power Grid Corporation of India Ltd (PGCIL), constituting over 90%, with less than 10% from private players like Tata Power and Adani, where the company aims to increase presence.
- →The bidding pipeline is healthy at approximately INR 33,000 crores, with a historical conversion ratio of 20-25%, implying potential order inflows of about INR 8,000-8,500 crores.
- →Around 60-65% of the bid pipeline is domestic, with the balance from export markets.
- →Infra projects segment non-T&D comprises only about 14% of the order book, mainly O&M projects like for BSNL; majority of revenue comes from T&D projects.
- →Order inflows were lower than expected in FY26 due to extended timelines and equipment constraints but bidding activity is picking up in FY27.
Key Metrics
Revenue
Margin
Capex
Fundraise
Order Book
Frequently Asked Questions
What were Skipper Ltd Q4 FY26 results?
FY '27 revenue growth guidance is 15%, with a more conservative outlook due to export challenges and delayed domestic bidding. Future Growth Expectations for Skipper Limited: - FY '27 revenue growth guidance: Conservative 15% increase due to export execution challenges and delayed bidding activities.
What is Skipper Ltd share price analysis?
Skipper Ltd currently shows a below-average growth signal. The stock trades at a P/E of 28.8 with a market cap of ₹6,195 Cr. Investors should review the full earnings analysis for detailed insights.
Is Skipper Ltd planning capital expenditure?
Skipper Limited is undertaking a capacity expansion of 75,000 MTPA expected to come live by Q2 FY '27, with full utilization likely in 1-2 quarters thereafter.
This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.