Skipper Ltd

Skipper Ltd

₹ 354 4.77%
23 Feb - close price
About

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]

Key Points

Market Leadership
Skipper is the market leader in the manufacture of T&D structures and distribution poles. It is positioned among the 10 largest global T&D structure manufacturers. [1] It is India’s largest and world's only Integrated T&D company having its own Structure rolling, manufacturing, Tower Load Testing Station & Transmission Line EPC. [2]

  • Market Cap 3,995 Cr.
  • Current Price 354
  • High / Low 362 / 85.2
  • Stock P/E 55.8
  • Book Value 70.9
  • Dividend Yield 0.03 %
  • ROCE 11.9 %
  • ROE 4.33 %
  • Face Value 1.00

Pros

  • Company is expected to give good quarter
  • Debtor days have improved from 89.4 to 66.4 days.

Cons

  • Stock is trading at 4.99 times its book value
  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -5.63%
  • The company has delivered a poor sales growth of -0.92% over past five years.
  • Company has a low return on equity of 3.76% over last 3 years.
  • Dividend payout has been low at 3.87% of profits over last 3 years

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Engineering Industry: Engineering

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
460 497 275 479 400 553 416 462 445 657 555 772 802
416 455 258 437 353 491 380 422 400 586 494 699 725
Operating Profit 44 43 17 42 48 62 36 40 45 72 60 74 77
OPM % 10% 9% 6% 9% 12% 11% 9% 9% 10% 11% 11% 10% 10%
1 2 1 1 1 1 1 1 1 2 1 2 2
Interest 17 21 20 25 23 25 24 23 26 32 28 35 39
Depreciation 11 12 12 12 12 12 13 11 11 11 12 13 13
Profit before tax 17 13 -14 6 14 25 0 7 9 30 21 28 26
Tax % 33% 28% 34% 25% 38% -0% 36% 36% 25% 31% 33% 32% 33%
11 9 -9 4 8 25 0 5 7 21 14 19 18
EPS in Rs 1.01 0.80 -0.83 0.39 0.75 2.23 0.02 0.40 0.63 1.85 1.24 1.68 1.57
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
762 898 1,039 1,310 1,501 1,665 2,074 1,871 1,391 1,582 1,707 1,980 2,786
700 808 920 1,082 1,273 1,392 1,769 1,689 1,251 1,436 1,539 1,787 2,503
Operating Profit 62 90 118 228 227 273 305 182 140 145 168 193 282
OPM % 8% 10% 11% 17% 15% 16% 15% 10% 10% 9% 10% 10% 10%
1 1 2 1 5 3 1 1 2 4 4 5 7
Interest 37 51 69 70 65 68 79 102 85 74 94 105 134
Depreciation 12 13 15 22 24 32 46 38 38 45 48 47 50
Profit before tax 15 28 37 137 143 177 180 43 18 30 30 47 105
Tax % 32% 33% 27% 35% 34% 30% 35% 27% -128% 30% 6% 31%
10 19 27 89 95 124 118 31 41 21 29 33 72
EPS in Rs 12.84 1.75 2.39 7.93 8.46 11.04 10.44 2.76 3.67 1.87 2.53 2.90 6.34
Dividend Payout % 7% 5% 6% 15% 15% 13% 14% 8% 2% 5% 4% 3%
Compounded Sales Growth
10 Years: 8%
5 Years: -1%
3 Years: 13%
TTM: 49%
Compounded Profit Growth
10 Years: 6%
5 Years: -23%
3 Years: -7%
TTM: 94%
Stock Price CAGR
10 Years: %
5 Years: 43%
3 Years: 80%
1 Year: 243%
Return on Equity
10 Years: 11%
5 Years: 4%
3 Years: 4%
Last Year: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 7 10 10 10 10 10 10 10 10 10 10 10 10
Reserves 127 196 221 294 371 522 627 638 677 698 725 758 790
Preference Capital 29 0 0 0 0 0 0 0 0 0 0 0
299 424 440 383 468 436 496 523 454 440 568 485 730
235 156 211 377 341 423 610 481 572 772 784 970 1,202
Total Liabilities 669 787 882 1,064 1,190 1,391 1,744 1,653 1,713 1,919 2,087 2,223 2,732
283 326 339 351 385 497 521 514 579 657 657 697 726
CWIP 2 4 8 3 40 14 2 8 11 12 14 7 22
Investments 0 0 0 0 0 0 0 9 10 10 11 11 11
385 457 535 709 765 880 1,221 1,121 1,114 1,241 1,406 1,508 1,973
Total Assets 669 787 882 1,064 1,190 1,391 1,744 1,653 1,713 1,919 2,087 2,223 2,732

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
79 -62 101 174 65 176 80 134 214 180 17 284
-55 -56 -32 -32 -92 -79 -42 -41 -51 -100 -48 -98
-22 122 -79 -116 13 -110 -39 -93 -163 -81 31 -185
Net Cash Flow 2 4 -10 26 -14 -13 -1 -0 0 0 0 1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 69 63 81 105 91 82 91 96 115 109 93 66
Inventory Days 110 127 110 95 96 123 155 154 202 213 251 263
Days Payable 73 62 75 100 82 97 135 101 154 233 200 169
Cash Conversion Cycle 107 128 116 99 105 108 111 149 163 89 144 160
Working Capital Days 87 114 100 72 94 101 108 126 124 109 132 113
ROCE % 11% 14% 16% 31% 27% 27% 25% 13% 9% 9% 10% 12%

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Feb 2024
71.89% 71.89% 71.89% 71.89% 71.89% 71.89% 71.89% 71.89% 71.89% 71.89% 71.89% 66.26%
9.77% 9.48% 9.48% 9.31% 9.28% 9.88% 9.62% 9.51% 9.93% 8.09% 7.40% 7.17%
0.45% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.11% 0.28% 0.15% 0.15% 0.22%
17.89% 18.63% 18.63% 18.80% 18.83% 18.24% 18.50% 18.48% 17.89% 19.85% 20.57% 26.34%
No. of Shareholders 26,50931,15529,96529,47629,64329,18424,52825,11826,13238,42544,63349,711

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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