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Skipper Limited (BSE: 538562 | NSE: SKIPPER), one of the world’s leading manufacturers for Power Transmission & Distribution structures and a prominent manufacturer of Telecom and Railway structures, today announced its financial results for Q2 FY’26, ended 30th September 2025.

Stand Alone Financials (Rs in Million)

Q2’ Highlights

* Recorded highest ever second quarter Revenue at Rs.12,618 Mn, up 14% YoY

* Achieved highest ever quarterly EBITDA at Rs.1,307 Mn, up 16% YoY, margin improved to 10.4%

* PAT before exceptional jumps 32% YoY to Rs.449 Mn

H1’ Highlights

* Highest ever first half Revenue at Rs.25,156 million, up 14% YoY, Export revenue grew 27% YoY to Rs.5,234 million

* Achieved Strong Profitability and Margin growth Stand Alone EBITDA margin improved to 10.3% vs 9.9% YoY driven by operating leverage and execution of higher quality T&D contracts

* PBT (Before Exceptional) registered a growth of 39% YoY to Rs.1,220 million With PBT margins to sales improving to 4.8 against 4.0% in previous year period

* PAT before exceptional jumps 37% YoY to Rs.895 Mn, PAT margin to sales improved to 3.6% against 3.0%

Order Book & Bidding

* Highest ever Closing Order Book (September -25) – Rs.88,204 million, constitutes 89% domestic & 11% export.

* Q2 Fy’26 order inflow Rs.12,430 Mn majorly for engineering products supplies & EPC works, during the quarter secured significant large size domestic EPC contracts from PGCIL and International market

* Secured two (2) prestigious 765 kV transmission line projects from PGCIL in the states of Rajasthan and Madhya Pradesh, Strengthening our position in the high voltage segment.

* H1’26 YTD new order inflows at Rs.32,205 Mn, up 33% YoY.

* Strong traction in both domestic and international market continues, Strong Bidding pipeline exceeding Rs.300,000 Mn.

* Skipper EPC Division is currently executing approx. 5,000 circuit kilometres of EHV & HVDC transmission line work as of September 2025.

* Completed successful plant audits by new potential customers from Middle East & North America.

Capacity Expansion & Other Business Updates

* New capacity of 75,000 MTPA is now fully operational, with commercial production commenced.

* Further an additional 75,000 capacity MTPA capacity addition plan already underway, Company aims to attain capacity of 6 lac MTPA by Fy'28 end.

* Inaugurated the 2nd Test bed facility and successfully completed the first testing from new test bed which is a key milestone towards our journey to engineering excellence and holding a place in the top league of globally capable manufacturers.

* Our R&D division has signed an MOU with IIT Kharagpur for research on galvanizing processes and predictive modelling development.

* Ongoing implementation of SAP S4 HANA RISE.

* Waste Heat recovery system & Bag filter installation for better fuel consumption & ESG Goals.

* Expect 25% Revenue CAGR growth in current year, with even stronger performance in 2^nd half.

Directors’ Comment

Commenting on the Q2 FY’26 performance, Mr. Sharan Bansal, Executive Director, Skipper Limited, said,
“Q2 has materially elevated the trajectory of this company, both financially and strategically. Our highest ever Q2 revenue of Rs.12,618 Mn and EBITDA of Rs.1,307 Mn are not just outcome metrics but are leading indicators of a structurally stronger Skipper. The mix upgrade into higher quality T&D projects, pricing discipline and capacity readiness are now fully reflecting in margin expansion. We are scaling on both vectors – scale and quality – simultaneously.”

Mr. Sharan Bansal further added, “Our order book now at Rs.88,204 Mn gives us high visibility for the next 18 to 24 months with a significantly improved earnings profile. The new capacity blocks are commercial, test bed 2 is live & our R&D alliance with IIT Kharagpur strengthens the deep science on galvanizing. We have entered an earnings compounding zone where margin stability and volume expansion will co-exist and FY’26 will be a defining year in that compounding curve.”

Mr. Devesh Bansal, Executive Director, Skipper Limited, commented, “The momentum across both domestic and global markets is unprecedented. Winning 765 kV PGCIL projects back-to-back and clearing audits from large international utilities, reinforces our position in the top league of global manufacturers. With SAP S/4HANA RISE rolling out and ESG optimisations like Waste Heat Recovery already implemented, we are engineering a company that is not only performing today, but is architected for scale, transparency and global competitiveness in the decade ahead.”

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