# Skipper share price today (Skipper Ltd, NSE: SKIPPER)

> Skipper share price today: ₹539.20 at the NSE close on 4 November 2026, up 5.8% in a year. Skipper (NSE: SKIPPER) is worth ₹6,593 crore, trades at a P/E of 26.9 and has closed between ₹336.90 and ₹591.10 over the past 52 weeks. > Skipper Ltd's earnings have grown faster than its share price. Earnings per share grew +42.5% in a year while the price moved +5.8%. SKIPPER · Electrical Equipments/HVDC · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/skipper-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹539.20 (+5.8% in a year)
- P/E: 26.9× (lower than 61% of the last 7.4 years)
- Revenue (Sep 2026): ₹1,384 Cr (+9.7% on a year ago)
- Profit (Sep 2026): ₹58.0 Cr (+56.8% on a year ago)
- Operating margin: 10.0% (flat on a year ago)
- ROCE: 24%, FY26
- ROIC: 14.6%, against a 12.0% cost of capital: +2.6 points

The main question: yearly earnings per share moved +42.5% while the share price moved +5.8%. ## What is the Skipper share price today? Skipper Ltd's share price was ₹539.20 at the close on 4 November 2026. It has been rising for 23 weeks. That is 7.1% above 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 80% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 2 weeks in a row. Over the last 11 years the share price moved +294% 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. ## What changed at Skipper this quarter? 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. ## What are Skipper's latest quarterly results? 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

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹1,384 crore | ₹1,262 crore | +9.7% |
| Profit | ₹58.0 crore | ₹37.0 crore | +56.8% |
| Earnings per share | ₹4.75 | ₹3.28 | +44.8% |
| Operating margin | 10.0% | 10.0% | 0.0 points |

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.)

## What is the Skipper share price history? Skipper closed at ₹539.20 on 4 November 2026, up 5.8% from ₹509.65 a year earlier (7 November 2025) and up 619.1% over five years. Its highest weekly close since March 2016 was ₹622.55 on 13 December 2024. ### Skipper share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹491.70 | +9.7% |
| 1 month ago · 1 Oct 2026 | ₹541.95 | −0.5% |
| 6 months ago · 8 May 2026 | ₹466.20 | +15.7% |
| 1 year ago · 7 Nov 2025 | ₹509.65 | +5.8% |
| 3 years ago · 3 Nov 2023 | ₹229.29 | +135.2% |
| 5 years ago · 4 Nov 2021 | ₹74.98 | +619.1% |
| 10 years ago · 4 Nov 2016 | ₹138.53 | +289.2% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹136.82 | +294.1% |
| Highest weekly close since March 2016 · 13 Dec 2024 | ₹622.55 | −13.4% |
| Lowest weekly close since March 2016 · 27 Mar 2020 | ₹18.95 | +2,745.4% |
| 52-week high (weekly close) · 4 Sep 2026 | ₹591.10 | −8.8% |
| 52-week low (weekly close) · 23 Jan 2026 | ₹336.90 | +60.0% |

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (564 weekly closes from 11 March 2016 to 4 November 2026.)

## What is the latest news on Skipper? 4 Nov 2026: Skipper closed at ₹539.20, up 9.7% on the week and down 0.5% on the month. 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. ### 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. ## What dividend does Skipper pay? 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 ₹539.20 close on 4 November 2026. The last was a dividend of ₹0.10 a share, ex-date 8 September 2026. ### Skipper dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 8 Sep 2026 | ₹0.10 | Dividend |
| 16 Sep 2025 | ₹0.10 | Dividend |
| 12 Sep 2024 | ₹0.10 | Dividend |
| 12 Sep 2023 | ₹0.10 | Dividend |
| 12 Aug 2022 | ₹0.10 | Dividend |
| 20 Sep 2021 | ₹0.10 | Dividend |

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. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

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.)

## What did Skipper management say on the latest results call? 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](https://files.tijoristack.ai/concall/transcript/5966-30-Oct-2026.pdf). (From the call for July to September 2026, 30 October 2026.)

## What is the future of Skipper? What is changing in the business? 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.)

## What is Skipper's order book? 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.)

## What could change the Skipper story? What are the risks? 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.)

## What to watch in Skipper's next results? 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. - What to check (from the call)
- H2 revenue acceleration to flagged full-year pace after muted H1 - check quarterly print and infra versus engineering split. - Export dispatches rebounding from Q2 low as freight eases - check quarterly export revenue and developed-market conversion. - Brownfield expansion turning operational on flagged schedule - check commissioning update and utilisation lift beyond current level. ## Which stock lists is Skipper on? Skipper is on one of our India lists: Power & green energy stocks. - [Power & green energy stocks Group on the list: Power equipment, transformers and cables](https://www.sectoralpha.in/sectors/power-stocks-india)

## Is Skipper profitable? 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. 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. ## How much revenue does Skipper make, and is it growing? 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. 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. ## How much of every ₹100 of sales does Skipper keep? 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. 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. ## Is Skipper's profit turning into cash? 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. 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. ## Where does Skipper's cash go? 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. 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. ## What is Skipper's P/E ratio, and how does it compare with its own history? Skipper Ltd's P/E is 26.9×, in the middle of its own history: higher than 39% of past readings. 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. 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. Why the multiple is where it is: over the past year earnings per share moved +42.5% while the price moved +5.8%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +48.4% a year; about +57.9% a year came from earnings growth and about −9.5 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Skipper share price assume? Worked out from its price on 26 August 2026, Skipper Ltd's share price assumed profit growth of about 16.0% a year. Over the past 7 years its profit actually grew 31.7% a year. Today its P/E is 26.9×, lower than 61% of its own last 7.4 years. This is a one-day reading, taken on 26 August 2026. Every other number on this page, the multiple included, uses the latest price as of 4 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Skipper business getting better or worse? Skipper Ltd's business is giving mixed signals. There is no clear direction across the growth lines, with ROCE falling at 22.6%; each line tells part of the story. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## What is the Skipper story, and has it been checked? Skipper Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: Not stated in the research file. Our read, 22 August 2026. From the numbers. Net profit compounded from ₹21 Cr in FY21 to ₹213 Cr in FY26…

From the price. Price stage 2, week 23, below its 200-day line, relative strength falling. From the research. Where they disagree. What is proven. What is not proven yet. 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%. What would change our mind. 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%. The test written in advance. 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%. Measured by: the thesis as written as stated by the next result. What the surface reading misses. The surface reading is: Net profit growth of 893% over five years appears to be an acceleration that could reflect a cyclical spike. The research reads it further: Profit expansion occurred across five consecutive fiscal years (₹21 Cr → ₹25 Cr → ₹36 Cr → ₹82 Cr → ₹149 Cr → ₹213 Cr), driven by revenue expanding 251% from ₹1,582 Cr to ₹5,553 Cr paired with operating leverage as fixed manufacturing costs were absorbed. What the surface reading misses. Lever 12 · New product launch: building. Domestic transmission bidding pipeline expanding to ₹90,000 to 100,000 Cr in FY27 supported by ₹9 lakh crore grid allocation through 2032. What proves it keeps working: Power Grid Corporation and Domestic Transmission Grid Capex Expansion. It stops working if Domestic tariff-based transmission awards experience regulatory deferrals or project clearance delays exceeding six months. Lever 1 · Operating leverage: building. Fixed-cost absorption and 765 kV project mix drive EBITDA margin toward long-term 12% aspiration. What proves it keeps working: Operating Leverage and High-Voltage Mix Accretion. It stops working if Raw material commodity price spikes exceed contract escalation formulas or factory utilization rolls over. Lever 10 · New geographies: building. Global utility qualification audits completed across North America and Australia backed by world-record testing facility. What proves it keeps working: Developed-Market Export Expansion and Dual Test Bed Edge. It stops working if Elevated ocean freight rates and geopolitical disruptions persist, causing international utilities to defer shipment dispatches indefinitely. Sources: our stock research file (22 August 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Skipper management deliver what it promised? What Skipper Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. CRISIL Rating Discrepancy · 30 October 2026. In Aug 2026, management said CRISIL had upgraded the long-term rating to A+ stable, while the Oct 2026 call described the rating as A- Stable. The latest call does not explain whether the rating changed between calls or whether one statement is erroneous, creating a material inconsistency in the balance-sheet narrative. Capacity Expansion Timeline Has Slipped · 30 October 2026. In Apr 2026, management said the 75,000-ton expansion would take capacity to 450,000 tons by June '26, and in Aug 2026 it said commissioning would occur by the end of Q2. In Oct 2026, the prepared remarks refer to H2 '27 while the Q&A gives end-Q3 or early-Q4 timing, representing a material delay and an unresolved difference in timing with no explanation. FY27 Export Order Inflow Guidance Was Raised · 30 October 2026. In Aug 2026, management cited about INR1,100 crores of export order inflows for the year, but in Oct 2026 it raised the full-year figure to about 1,500 crores, an increase of roughly 36%. The latest call cites stronger recent traction but does not explicitly reconcile this material change with the prior guidance. Latest Prepared Remarks Use Inconsistent Reporting Periods and Backlog Figures · 30 October 2026. The Aug 2026 call reported a Q1 FY27 order book above INR9,200 crores, but the Oct 2026 prepared remarks refer to Q2 FY25, H1 FY25 and an order book of 6,666 crores as of September 2024. Every quote above is taken word for word from the company’s own earnings calls. ## What is Skipper management's track record? Over-promise pattern offset by delivered absolutes, record ₹5,678 crore inflows, ₹8,502 crore order book, profit +43% on a year earlier. ### Regulatory and governance record

No SEBI/CBI/ED action or material penalty; routine insider-trade intimations; passive-sweep SEBI excerpts are name-collision (Refex/Axis), none Skipper-specific. Sources:

- [alphaspread.com](https://www.alphaspread.com/security/nse/skipper/investor-relations)
- [trendlyne.com](https://trendlyne.com/equity/insider-trading-sast/all/SKIPPER/1728/skipper-ltd/)
- [indiainfoline.com](https://www.indiainfoline.com/company/skipper-ltd/share-holding)

(Checked 21 July 2026.)

## How much does Skipper earn on its capital? Skipper Ltd earned a ROCE of 24% in FY26. That is up from a low of 9% in FY20. Its return on capital used (ROIC) is 2.6 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 3.8% net margin and 1.23× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 3.8% net margin × 1.23× asset turnover × 3.04× leverage (assets divided by equity) ≈ 14.2% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 14.6% − 12.0% = +2.6 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error. The 14.6% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 16.3%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Skipper have too much debt? Skipper Ltd has total debt of ₹757 Cr against shareholder equity of ₹1,943 Cr as of Sep 2026, so its debt is 0.39× its equity. Year by year, that ratio went from 0.79 in FY22 to 0.64 in FY26. Keep that borrowing in mind when reading the returns on this page. ## What is the Skipper shareholding pattern? Foreign institutions raised their stake in Skipper Ltd by 5.5 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 10.3% of the company. Promoters moved −5.0 points over the same period, to 61.5%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: +5.5 points over 8 quarters, to 10.3%; Promoters: −5.0 points over 8 quarters, to 61.5%; Domestic institutions: +1.9 points over 8 quarters, to 2.4%. Why the owners changed: foreign institutions drove it (+5.5 points), with the other side taken by promoters (−5.0 points). They raised their stake step by step. ## How far is Skipper from balance-sheet trouble? For Skipper Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Skipper rank in its industry? 49.4 out of 100, rank 5 of 6 in Electrical Equipments/HVDC, with 96% of the evidence available. Skipper Ltd scores 49.4 out of 100 against the 6 companies it is compared with in Electrical Equipments/HVDC, ranking 5. The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. The four parts add up to the total exactly: 10.8 + 11.4 + 17.1 + 10.1 = 49.4. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Skipper compared with? Skipper ranks 5 of 6 Electrical Equipments/HVDC companies on the 4-Factor Sector Score, with 49.4 out of 100. 1. [Quality Power Electrical Equipments Ltd](https://www.sectoralpha.in/stocks/quality-power-electrical-equipments-ltd) QPOWER · breaking out · Most evidence points up · 71% evidence 75.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.0/35 · Revenue 89.9% · Profit 83.6% · Operating margin change 5 points · 83% evidence Capital efficiency 17.6/25 · ROCE 31.7% · Operating margin 23% · 76% evidence Valuation 9.1/20 · P/E 71.4× · PEG n/a · 15% evidence Relative strength 20.0/20 · Lead over its industry 14.7% · Lead over NIFTY 500 36.1% · 1 year 37% · 100% evidence · 12 of 12 weeks ahead Exact sum: 29 + 17.6 + 9.1 + 20 = 75.7 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [GE Vernova T&D India Ltd](https://www.sectoralpha.in/stocks/ge-vernova-t-d-india-ltd) GVT&D · turning · Evidence leans up · 74% evidence 58.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.1/35 · Revenue 41.3% · Profit 56.4% · Operating margin change 1 points · 88% evidence Capital efficiency 21.4/25 · ROCE 77.4% · Operating margin 27% · 100% evidence Valuation 6.8/20 · P/E 69.4× · PEG 2.39 · 65% evidence Relative strength 10.9/20 · Lead over its industry n/a · Lead over NIFTY 500 6.6% · 1 year 32.4% · 25% evidence · 0 of 12 weeks ahead Exact sum: 19.1 + 21.4 + 6.8 + 10.9 = 58.2 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 3. [Hitachi Energy India Ltd](https://www.sectoralpha.in/stocks/hitachi-energy-india-ltd) POWERINDIA · losing its lead · Evidence leans up · 74% evidence 52.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.9/35 · Revenue 40.2% · Profit 100% · Operating margin change 5 points · 75% evidence Capital efficiency 15.1/25 · ROCE 29.4% · Operating margin 15% · 100% evidence Valuation 8.5/20 · P/E 102× · PEG n/a · 15% evidence Relative strength 2.2/20 · Lead over its industry -14% · Lead over NIFTY 500 2.9% · 1 year 53.1% · 100% evidence · 2 of 12 weeks ahead Exact sum: 26.9 + 15.1 + 8.5 + 2.2 = 52.7 · What this means: Earnings are strong; relative strength in its sector is -14% and the one-year return is 53.1%. 4. [KSH International Ltd](https://www.sectoralpha.in/stocks/ksh-international-ltd) KSHINTL · breaking out · Too little evidence to rank firmly · 54% evidence 49.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.7/43.75 · Revenue 80.6% · Profit 62.5% · Operating margin change -1 points · 75% evidence Capital efficiency 12.4/31.25 · ROCE 21.5% · Operating margin 6% · 100% evidence Valuation 13.6/25 · P/E 47.8× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 23.7 + 12.4 + 13.6 = 49.7 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 5. Skipper Ltd this page SKIPPER · turning · Evidence leans down · 96% evidence 49.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 10.8/35 · Revenue 16.1% · Profit 48.2% · Operating margin change 0 points · 88% evidence Capital efficiency 11.4/25 · ROCE 23.6% · Operating margin 10% · 100% evidence Valuation 17.1/20 · P/E 24.5× · PEG 0.6 · 100% evidence Relative strength 10.1/20 · Lead over its industry -10.4% · Lead over NIFTY 500 9.8% · 1 year -6.2% · 100% evidence · 5 of 12 weeks ahead Exact sum: 10.8 + 11.4 + 17.1 + 10.1 = 49.4 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 6. [Siemens Energy India Ltd](https://www.sectoralpha.in/stocks/siemens-energy-india-ltd) ENRIN · quiet · Evidence leans down · 84% evidence 45.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.7/35 · Revenue 41.6% · Profit 67.9% · Operating margin change 5 points · 75% evidence Capital efficiency 15.9/25 · ROCE 67.8% · Operating margin 24% · 100% evidence Valuation 8.5/20 · P/E 65.4× · PEG 2.09 · 65% evidence Relative strength 2.6/20 · Lead over its industry -22.6% · Lead over NIFTY 500 -4.5% · 1 year -12% · 100% evidence · 2 of 12 weeks ahead Exact sum: 18.7 + 15.9 + 8.5 + 2.6 = 45.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Electrical Equipments/HVDC](https://www.sectoralpha.in/sectors/electrical-equipments-hvdc), all 6 compared on one page. ## Which companies are close to Skipper in size? Skipper is the 6th largest of 6 Electrical Equipments/HVDC companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Hitachi Energy India, GE Vernova T&D India, Siemens Energy India, Quality Power Electrical Equipments and KSH International. It is the smallest. ### Electrical Equipments/HVDC companies close in size

1. [Hitachi Energy India Ltd](https://www.sectoralpha.in/stocks/hitachi-energy-india-ltd) ₹1,21,348 crore
2. [GE Vernova T&D India Ltd](https://www.sectoralpha.in/stocks/ge-vernova-t-d-india-ltd) ₹1,02,932 crore
3. [Siemens Energy India Ltd](https://www.sectoralpha.in/stocks/siemens-energy-india-ltd) ₹99,831 crore
4. [Quality Power Electrical Equipments Ltd](https://www.sectoralpha.in/stocks/quality-power-electrical-equipments-ltd) ₹10,806 crore
5. [KSH International Ltd](https://www.sectoralpha.in/stocks/ksh-international-ltd) ₹6,262 crore
6. Skipper Ltd ₹6,016 crore

[All 6 Electrical Equipments/HVDC companies, largest first](https://www.sectoralpha.in/sectors/electrical-equipments-hvdc#all-companies)

### Companies close in size in other industries

1. [Dilip Buildcon Ltd](https://www.sectoralpha.in/stocks/dilip-buildcon-ltd) ₹6,105 crore · EPC
2. [Eureka Forbes Ltd](https://www.sectoralpha.in/stocks/eureka-forbes-ltd) ₹6,061 crore · Consumer Electronics
3. Skipper Ltd ₹6,016 crore
4. [Sharda Cropchem Ltd](https://www.sectoralpha.in/stocks/sharda-cropchem-ltd) ₹6,000 crore · Pesticides/Agrochemicals
5. [Birla Corporation Ltd](https://www.sectoralpha.in/stocks/birla-corporation-ltd) ₹5,978 crore · Cement

## What else do people ask about Skipper? ### What is Skipper's share price today? Skipper Ltd's share price is ₹539.20, +5.8% over the past year. The whole company is worth ₹6,593 Cr on the market. In the last 52 weeks it traded between ₹337 to ₹591; today it is 80% of the way up from the low, 7.1% above its 200-day average (as of 4 November 2026). ### What were Skipper's latest quarterly results? Skipper Ltd reported revenue of ₹1,384 Cr and net profit of ₹58.0 Cr for the Sep 2026 quarter. Revenue rose 9.7% and profit rose 56.8% compared with a year earlier. Earnings per share were ₹4.75. The operating margin was 10.0%, 0.0 percentage points higher than a year earlier (as of 4 November 2026). ### What is Skipper's market cap? Skipper Ltd's market capitalisation is ₹6,593 Cr at a share price of ₹539.20. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Skipper performing? Skipper Ltd's share price has been rising for 23 weeks. In its latest quarter, revenue rose 9.7% and profit rose 56.8% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 2 weeks running (as of 4 November 2026). ### Will Skipper's share price go up? This page does not forecast Skipper Ltd's share price. What it shows instead: the share price is ₹539.20, and it has been rising for 23 weeks. Its P/E of 26.9× is higher than 39% of its own last 7 years (as of 4 November 2026). ### Who owns Skipper? Promoters own 61.5% of Skipper Ltd, foreign institutions 10.3%, domestic institutions 2.4% and the public 25.8% (latest quarter). The biggest change over the last two years: Foreign institutions raised their stake by 5.5 percentage points over 8 quarters (as of 4 November 2026). ### Does Skipper have too much debt? Skipper Ltd has a moderate amount of debt: its debt is 0.62× its equity, and its operating profit is 3 times its interest bill. FY26 borrowings were ₹931 Cr against equity of ₹1,491 Cr. Keep that borrowing in mind when reading the returns on this page (as of 4 November 2026). ### Where is Skipper in its business cycle? Skipper Ltd's FY26 operating margin was 10.0%, against a 8-year range of 9.0% to 10.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 10.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Skipper story? The main question: yearly earnings per share moved +42.5% while the share price moved +5.8%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Skipper a stock worth studying right now? What the numbers show: Skipper Ltd's earnings have grown faster than its share price. Earnings per share grew +42.5% in a year while the price moved +5.8%. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Skipper share price forecast for 2026? What management itself guided: FY27 revenue growth 15% with at-worst 13-14% on freight-driven deferrals. 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. What would change the story: 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%. ### Where does this page get Skipper's management information? From Skipper's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Power & green energy stocks: https://www.sectoralpha.in/sectors/power-stocks-india

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