Skipper Limited has reported its highest-ever quarterly revenue for the second quarter of FY27, with revenue rising 10% year-on-year (YoY) to ₹13,840 million for the quarter ended September 30, 2026. The company’s profitability also strengthened, with Profit After Tax (PAT) increasing 56% YoY to ₹575 million, supported by improved operating margins and business execution.
The company’s EBITDA for Q2 FY27 stood at ₹1,448 million, registering an 11% YoY increase. EBITDA margin improved to 10.5%, reflecting continued margin expansion during the quarter.
For the first half of FY27, Skipper recorded its highest-ever half-yearly revenue of ₹26,938 million, representing a 7% increase compared with the corresponding period of the previous financial year. Standalone EBITDA margin improved to 10.6%, against 10.3% in the previous year, supported by operating leverage and the execution of higher-quality Transmission and Distribution (T&D) contracts.
The company’s H1 FY27 PAT increased 40% YoY to ₹1,139 million, while PAT margin improved to 4.2% from 3.2% in the corresponding period last year.
Skipper’s closing order book reached a record ₹100,657 million as of September 2026, comprising 83% domestic orders and 17% export orders. During H1 FY27, the company secured new order inflows worth ₹37,855 million, including significant large-scale domestic EPC contracts from Power Grid Corporation of India Limited (PGCIL) and orders from international markets.
During Q2 FY27, the company recorded order inflows of ₹2,111 million, marking a 70% increase over the corresponding quarter of the previous year. It also secured its highest-ever quarterly export order inflows of ₹10,540 million. With continued traction across domestic and international markets, Skipper’s bidding pipeline crossed ₹350,000 million, marking its highest level to date.
The company’s EPC division was executing approximately 5,500 circuit kilometres of Extra High Voltage (EHV) and High Voltage Direct Current (HVDC) transmission line projects as of September 2026. During the quarter, Skipper also secured a multi-million-dollar contract from a leading utility company in North America, marking its largest order to date in the region.
As part of its international expansion strategy, Skipper strengthened its global presence through the establishment of a subsidiary in the United States, complementing its existing subsidiaries in Brazil and the UAE. The company’s export order book has also become more diversified, with the Middle East accounting for just under 18% of the export mix, while developed markets, particularly North America and Australia, contribute the majority share.
During the quarter, Skipper successfully charged the approximately 144-kilometre Sikar II–Khetri Transmission Line 03 (765 kV) in Rajasthan, further adding to its project execution milestones.
The company’s ongoing capacity expansion of 75,000 metric tonnes per annum (MTPA) is progressing as planned and is likely to be commissioned and operational by the second half of FY27. Upon completion, the expansion will increase Skipper’s total installed capacity to 450,000 MTPA from the existing 375,000 MTPA.
Skipper also raised ₹4,335 million through a preferential equity issue at an issue price of ₹470 per share. The issue received participation from prominent global and domestic long-only institutional investors, including Small Cap World Fund and American Fund Insurance, backed by Capital Group, Bandhan Small Cap Fund, Cohesion MK Best Ideas and Emerge Private Opportunities Trust.
In a move to strengthen its board leadership and corporate governance, the company appointed Mr. R. N. Nayak, former Chairman and Managing Director of Power Grid Corporation of India Limited (PGCIL), as an Independent Director. His appointment brings extensive leadership experience and domain expertise in the power transmission sector. Skipper also received the Great Place to Work certification for the fifth consecutive year.
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.”
