Q2 FY26 Financial Results and Operational Performance

Skipper Limited Reports Record Q2 & H1 FY’26 Performance; Revenue and Profitability at All-Time Highs

Skipper Limited (BSE: 538562 | NSE: SKIPPER) reported its highest-ever Q2 revenue of ₹12,618 million, up 14% year-on-year, with EBITDA rising 16% to ₹1,307 million and margins improving to 10.4%. Profit after tax before exceptional items grew 32% YoY to ₹449 million. For H1 FY’26, Skipper achieved record revenue of ₹25,156 million, up 14% YoY, led by strong execution in high-quality T&D projects and 27% growth in export revenue to ₹5,234 million. EBITDA margin expanded to 10.3%, while PAT before exceptional surged 37% to ₹895 million.

The company’s order book reached an all-time high of ₹88,204 million, with 89% from domestic and 11% from export markets. Q2 order inflows stood at ₹12,430 million, driven by major EPC contracts from PGCIL, including two 765 kV transmission line projects in Rajasthan and Madhya Pradesh. H1 order inflows rose 33% YoY to ₹32,205 million, supported by a strong bidding pipeline exceeding ₹300,000 million. Skipper’s EPC division is executing around 5,000 circuit kilometres of EHV and HVDC projects, alongside successful audits from new clients in the Middle East and North America.

The company also commissioned an additional 75,000 MTPA capacity, with plans to reach 600,000 MTPA by FY’28, inaugurated its second test bed facility, and signed an MoU with IIT Kharagpur for R&D on galvanizing processes. With SAP S/4HANA RISE implementation and ESG-focused initiatives like waste heat recovery underway, Skipper expects to deliver a robust 25% revenue CAGR and even stronger performance in the second half of FY’26.