City-based electricity tower and pole maker Skipper is betting on the transition to renewable energy — as part of the global target to reach net zero — to achieve 25 per cent CAGR for the next three years.
The company, which is already exporting to 55 countries, plans to expand its footprint to at least 15 more countries with a focus on West Asia, Africa and Latin America.
Moreover, it is expecting demand from India with the government’s push to renewable, especially solar projects.
Skipper closed FY23 with an overall order book of Rs 4,500 crore, including Rs 4,137 crore in the last fiscal itself.
While it continues to focus on electricity, a big slice came from the telecom vertical of the business with BSNL placing a Rs 2,200 crore order for 4G mobile tower.
“Given the order book in place, we can expect a 25 per cent CAGR for the next three years,” Sharan Bansal, director of Skipper Ltd.
The company also has a strong pipeline of bids coming up — Rs 6,600 crore from the overseas market and Rs 3,520 crore in the domestic segment. Moreover, it plans to expand its retail presence in the PVC pipe range as well.
Skipper closed the fourth quarter with the highest ever quarterly revenue of Rs 657.4 crore, which is up 18.9 per cent from Rs 552.7 crore in Q4FY22.
Profit after tax was down by 3.4 per cent to Rs 23.7 crore compared with Rs 24.5 crore on account of marked-to-market forex loss.
