Skipper share price today

Skipper Ltd's share price was ₹491.70 at the close on 30 October 2026. It has been rising for 23 weeks. That is 2.3% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹337 and ₹591, and at that close it sat 61% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Skipper Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 1 week in a row.

Over the last 11 years the share price moved +259% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare), profit up on a year earlier for 12 quarters in a row (every quarter we can compare) and indian funds and insurers (DIIs) raised their stake for 6 quarters in a row.

1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare)

   In the September 2026 quarter revenue was ₹1,384 crore, +9.7% on a year earlier.

   Why: Revenue rose because the infrastructure side drove growth in the first half and stayed central to the work being done.

   Next results: check the quarterly revenue print and the split between infrastructure and engineering work.

   From the earnings call on 30 Oct 2026.

2. Profit up on a year earlier for 12 quarters in a row (every quarter we can compare)

   In the September 2026 quarter profit was ₹58 crore, +56.8% on a year earlier.

   Why: Profit rose because contract quality improved across both engineering and infrastructure, which helped margins hold up even as infrastructure work grew.

   Next results: check whether margins stay at the safe level management described and whether export work improves them.

   From the earnings call on 30 Oct 2026.

3. Indian funds and insurers (DIIs) raised their stake for 6 quarters in a row

   From 0.3% to 2.4% of the company by the September 2026 quarter.

For July to September 2026 (the quarter ended 30 September 2026), Skipper reported revenue of ₹1,384 crore, up 9.7% from ₹1,262 crore a year earlier, and a profit of ₹58.0 crore, up 56.8% from ₹37.0 crore.

Skipper results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Skipper's management discussed these results on a call held on 30 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Skipper closed at ₹491.70 on 30 October 2026, down 6.2% from ₹524.45 a year earlier (31 October 2025) and up 570.6% over five years. Its highest weekly close since March 2016 was ₹622.55 on 13 December 2024.

Skipper share price: then and now

Weekly closing prices. Each change is the move from that price to the 30 Oct 2026 close. A day's intraday high or low can go beyond these weekly closes.

563 weekly closes from 11 March 2016 to 30 October 2026.

30 Oct 2026: Skipper held its results call for July to September 2026. Management guided: FY27 revenue growth 15% with at-worst 13-14% on freight-driven deferrals. 30 Oct 2026: Skipper closed at ₹491.70, up 3.6% on the week and down 9.3% on the month.

Earlier

• Results for July to September 2026: Revenue up 9.7% and profit up 56.8% on a year earlier.
• 8 Sep 2026: ex-date for a dividend of ₹0.10 a share.

Skipper paid ₹0.10 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.02% at the ₹491.70 close on 30 October 2026. The last was a dividend of ₹0.10 a share, ex-date 8 September 2026.

Skipper dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Skipper Ltd paid out 1% of its profit as dividends in FY26, and it paid a dividend in each of its last 8 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for July to September 2026, held on 30 October 2026, Skipper's management guided: FY27 revenue growth 15% with at-worst 13-14% on freight-driven deferrals.

“At worst, we may see a 1-2% drop from our 15% guidance. However, we remain optimistic that we are largely on track to achieve our revenue growth.”Management, on the call for July to September 2026

What management guided

• FY27 total order inflow ₹7,500 crore maintained with push to beat.
• FY27 export order inflow ₹1,500 crore maintained with about ₹1,100 crore secured in H1.
• Interim operating profit 10-11% safe regardless of mix with long-term 12% aspiration on export execution.
• 75,000 MTPA expansion to 450,000 MTPA total operational end-Q3 or early-Q4 H2FY27.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 30 October 2026.

What is changing at Skipper, from the latest results and calls: power grid corporation and domestic transmission grid capital spending expansion, manufacturing capacity expansion to 450,000 mtpa and operating leverage and high-voltage mix accretion.

• Power Grid Corporation and Domestic Transmission Grid Capital spending Expansion. Domestic transmission bidding pipeline expanding to ₹90,000 to 100,000 Cr in FY27 supported by ₹9 lakh crore grid allocation through 2032. ✓ fact
• Manufacturing Capacity Expansion to 450,000 MTPA. Commissioning of 75,000 MTPA expansion by end-July to September 2026 adds ₹1,000 to 1,200 Cr annual revenue potential. ✓ fact
• Operating Leverage and High-Voltage Mix Accretion. Fixed-cost absorption and 765 kV project mix drive operating margin toward long-term 12% aspiration. ✓ fact

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

Order book reached ₹8,501.9 Cr at FY26 year-end supported by annual order inflows of ₹5,678 Cr.

• Management projected closing order book between ₹9,000 to 10,000 crores by end of FY26 in the Nov 2025 concall. ⚠ estimate
• Actual FY26 closing order book stood at ₹8,501.9 Cr, closing below the guided ₹9,000 Cr threshold. ✓ fact
• Active bidding pipeline of ₹33,000 Cr at historical conversion rates of 20% to 25% implies ₹6,600 to 8,250 Cr of prospective incremental order bookings. ✓ fact

Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

Thesis invalidates if quarterly order inflows drop below ₹1,200 Cr for two consecutive quarters alongside Power Grid Corporation tender award delays exceeding 6 months, or if gross operating margin contracts below 9.0%.

Each change stops working if

• Power Grid Corporation and Domestic Transmission Grid Capital spending Expansion: Domestic tariff-based transmission awards experience regulatory deferrals or project clearance delays exceeding six months.
• Manufacturing Capacity Expansion to 450,000 MTPA: Plant commissioning slips beyond October to December 2026 or plant utilization fails to ramp above 70% in second-half operations.
• Operating Leverage and High-Voltage Mix Accretion: Raw material commodity price spikes exceed contract escalation formulas or factory utilization rolls over.
• Balance Sheet Reset via Preferential Equity Deleveraging: Working capital requirements expand rapidly due to delayed contractor payments, negating interest cost savings.

The main risks

• Management Guidance Credibility Deficit and Revision Pattern: Repeated downward guidance adjustments across consecutive quarters weaken forecasting confidence. ⚠ estimate
• Export Shipment Deferrals and Ocean Freight Inflation: Elevated sea freight rates and Middle East geopolitical tensions cause customers to delay lifting dispatches. ⚠ estimate
• Substation Equipment Bottlenecks and Right-of-Way Delays: Transformer and switchgear supply constraints and site clearances extend EPC execution cycles. ⚠ estimate
• Public Utility Customer Concentration: Over 85% of domestic transmission order backlog is linked directly to Power Grid Corporation tenders. ⚠ estimate

Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

When Skipper reports October to December 2026, these are the 3 checks that show whether the story is still on course. First: H2 revenue acceleration to flagged full-year pace after muted H1 - check quarterly print and infra versus engineering split.

Skipper is on one of our India lists: Power & green energy stocks.

Skipper Ltd earned ₹58.0 Cr of net profit in the Sep 2026 quarter, +56.8% on the same quarter a year earlier. That is the 12th quarter in a row of profit growth. Full-year FY26 profit was ₹213 Cr. Over 7 years profit has grown 31.7% a year on average. That is 4.2% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹37.0 Cr.

For the full year, FY26 profit was ₹213 Cr (+43.0% on the year before).

Why profit moved: revenue changed +9.7% on a year earlier and the margin moved +0.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +48.3% and revenue +16.1%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

FY27-Q1. revenue ₹1,310 Cr and profit ₹57 Cr as reported.

FY27-Q2. revenue ₹1,384 Cr and profit ₹58 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Skipper Ltd reported ₹1,384 Cr of revenue in the Sep 2026 quarter, +9.7% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 7 years it has grown 16.8% a year on average. The last full year, FY26, came in at ₹5,553 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹5,732 Cr.

FY26 revenue was ₹5,553 Cr, +20.1% on the year before.

Recent pace: the last four quarters grew +16.1% on average, against 16.8% a year over the longer run, so this year is growing at about the same pace as its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +16.1%, against +17.4% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +48.2%, against +49.5% a year (stabilising).

FY27-Q1. revenue ₹1,310 Cr and profit ₹57 Cr as reported.

FY27-Q2. revenue ₹1,384 Cr and profit ₹58 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Skipper Ltd's operating margin was 10.0% in the Sep 2026 quarter, about the same as the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 8 years it has been between 9.0% and 10.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. Transmission tower fabrication benefits from operating leverage as volume scales across fixed overheads. In Q1 FY27, EBITDA margin expanded 60 bps YoY to 10.7% while operating profit grew 10% on 4.5% revenue growth. Low-margin legacy contracts now comprise under 5% of the backlog, with new orders weighted toward higher-margin 765 kV and HVDC transmission structures.

In the latest quarter it moved +0.0 percentage points on the same quarter a year ago.

Why the margin moved: operating margin changed +0.1 percentage points on the year while gross margin changed +4.0 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead.

FY27-Q1. revenue ₹1,310 Cr and profit ₹57 Cr as reported.

FY27-Q2. revenue ₹1,384 Cr and profit ₹58 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Over the last 3 years, 142% of Skipper Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹277 Cr of operating cash against ₹213 Cr of profit. After ₹485 Cr of spending on assets, free cash was −₹208 Cr: it spent more than its operations brought in.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 142% of profit came in as cash: the cash cycle got 59 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 4.8× depreciation over three years. The next section checks what that spending is building.

Skipper Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 30 days in FY26, down from 89 days in FY21. It spent ₹932 Cr on assets over the last 3 years. Customers take 98 days to pay, and stock sits for 109 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

Why this happened. Power Grid Corporation has guided capital expenditures of ₹37,000 Cr in FY27 rising to ₹45,000 Cr in FY28, with annual domestic tariff-based competitive bidding tenders scaling to ₹90,000 to 100,000 Cr. Skipper's unexecuted order book of ₹9,200 Cr provides 1.6x revenue visibility, while its historical 20% to 25% conversion rate on the active ₹35,000 Cr bidding pipeline supports continuous order replenishment.

At FY26 sales of ₹5,553 Cr, each day of that cycle ties up about ₹15.2 Cr, so roughly ₹456 Cr is tied up in the business at any time.

FY26: customers took 98 days to pay and stock sat for 109 days, about 3.6 months of sales sitting as stock, for a full cycle of 30 days, shorter than FY21's 89.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 109 days. Customers pay about 98 days after that. Suppliers are paid at 176 days. Together that makes the 30-day cycle.

Spending on assets: ₹932 Cr over the last 3 years, against ₹196 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹273 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Skipper Ltd's P/E is 24.5×, near the low end of its own history: it has been lower only 35% of the time. Its usual P/E (the middle reading) is 31.5×, over 7.4 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹21.37.

Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks.