SKIPPERCapital Goods

Skipper Limited

Heavy Electrical Equipment · ISIN INE439E01022 · BSE 538562 · NSE EQ · FV ₹1
Last price
₹539
+3.86%today
What this company does

Skipper Limited operates in Heavy Electrical Equipment, part of the Capital Goods sector. It booked ₹1,384 cr of revenue in its latest quarter (Q2 FY27) and kept 4.2% of sales as profit.

“Established in 1981, Skipper Limited by promoting integrated manufacturing products including transmission towers, has emerged as a leading player in the capabilities, leveraging cutting-edge monopoles and railway electrification power transmission and distribution technology and upholding a resolute structures, its polymer division and polymer products sectors.”
In the report:
56out of 100
Equitytale Health Score
Mixed

Healthier than 56% of companies in Capital Goods, on all six measures of filed financials. Each measure is ranked against the 81–127 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
51

At close. Not part of the score.

Profitability & returns36

How much profit it earns on the money it employs

Balance sheet17

How much it owes, and whether earnings cover the interest

Cash quality56

Whether reported profit actually arrives as cash

Growth & consistency91

Whether sales and profit have grown, and how steadily

Valuation77

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Sales up 10% vs last year
✓ Profit up 57% vs last year
✓ Promoters hold 61%
✓ No promoter shares pledged
✓ Turns profit into real cash
Watch-outs
! Thin 4.2% net margin

What if I invest in SKIPPER?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹539▲ +3.86%
latest close · 2026-11-04
1-year return
+540.8%
52-wk low ₹5052-wk high ₹617
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio27.7Average
LowAverageHigh
P/B ratio3.39High
Below bookModerateHigh
EV / EBITDA12.5Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity11.9%Fair
WeakFairStrong ▸15%
Return on capital17.7%Strong
WeakFairStrong
Net margin4.2%Thin
ThinDecentStrong
EBITDA margin10.6%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.38Comfortable
LowModerateHigh ▸1
Interest cover2.8×Okay
RiskyOkayStrong ▸5×
Current ratio1.54Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹6,585 cr
Book value
₹159
EPS
₹4.87
latest quarter
Net debt
₹734 cr
owes more than its cash
Enterprise value
₹7,319 cr
EBITDA
₹586 cr
annualised
EBIT
₹486 cr
annualised
Operating margin
8.8%
Return on assets
5.0%
Earnings yield
3.61%
P/S
1.19
Sales / share
₹453.3
Tax rate
26.0%
Face value
₹1
Shares
12.2 cr
Working capital
₹1,019 cr
Current assets
₹2,907 cr
Current liabilities
₹1,887 cr
Delivery %
39.5%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹118–₹127, midpoint ₹123

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹1,384 cr
Other Income₹2 cr
Total Income₹1,386 cr
Cost of Materials₹896 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-69 cr
Employee Benefit Expense₹93 cr
Finance Costs₹44 cr
Depreciation & Amortisation₹25 cr
Other Expenses₹319 cr
Total Expenses₹1,308 cr
Profit before Tax₹78 cr
Tax Expense₹20 cr
Share of JV / Associates₹59.1 L
Net Profit₹58 cr
Net margin on total income4.2%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹827 cr59.7%
Employee benefit expense₹93 cr6.7%
Finance costs₹44 cr3.2%
Depreciation & amortisation₹25 cr1.8%
Other expenses₹319 cr23.0%
Tax expense₹20 cr1.5%
Profit for the period₹58 cr4.2%
Total income ₹1,386 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue1,667 cr1,310 cr1,384 cr
Total income1,668 cr1,314 cr1,386 cr
Expenses1,569 cr1,239 cr1,308 cr
Profit before tax99 cr76 cr78 cr
Tax23 cr19 cr20 cr
Net profit (owners' share)78 cr57 cr58 cr
Net margin (owners' share, on revenue)4.7%4.3%4.2%
EPS (₹)6.965.034.87
YoY (latest quarter): total income +9.5% · net profit +56.8%
Balance sheet & cash flow · as of Sep 2026
Low debt
Total assets
₹4,633 cr
Shareholder equity
₹1,943 cr
parent shareholders
Total debt
₹735 cr
Cash
₹2 cr
Cash flow · H1 FY27
Operating
₹61 cr
Investing
₹-207 cr
Financing
₹145 cr
Peer comparison
Heavy Electrical Equipment · by market value
CompanyPriceMarket capP/E
Siemens Limited₹3,387₹7.53 L cr87.8
ABB India Limited₹6,605₹1.40 L cr94.6
Bharat Heavy Electricals Limited₹400₹1.39 L cr42.4
CG Power and Industrial Solutions Limited₹810₹1.28 L cr77.3
Hitachi Energy India Limited₹27,280₹1.22 L cr103.3
GE Vernova T&D India Limited₹4,050₹1.04 L cr60.1
Siemens Energy India Limited₹2,847₹1.01 L cr57.5
Suzlon Energy Limited₹36₹49,179 cr30.8
Thermax Limited₹3,151₹35,498 cr351.7
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.02%
trailing 12 months
Dividend / share (TTM)
₹0.1
Last dividend
₹0.1
ex 8 Sep 2026
ActionDetailEx-date
Dividend₹0.1 / share8 Sep 2026
Dividend₹0.1 / share16 Sep 2025
Dividend₹0.1 / share12 Sep 2024
Rights issue10:112 Jan 2024
Dividend₹0.1 / share12 Sep 2023
Dividend₹0.1 / share12 Aug 2022
Who owns it · 2026-09-30
No pledge
Promoter
61.5%
FII / Foreign
10.3%
DII / Domestic
2.4%
Retail / others
25.8%
Promoter stake down 5.0% over the last 12 quarters.
Smart-money activity
Insider trades
SoldMIRA BERIWAL · Immediate relative6,768 · ₹33.8 L25 Jun 25
SoldSUSHIL KUMAR BERIWAL · Employees/Designated Employees470 · ₹2.3 L25 Jun 25
BoughtAAKRITI ALLOYS PRIVATE LIMITED · Promoters2.01 L · ₹2.9 cr30 Nov 24
Bulk / block deals
short— · NSE20018 Sep 26
SoldPRAGYA MERCANTILE PVT LTD · NSE7.20 L @ ₹599.927 Sep 26
short— · NSE721 Aug 26
Stake changes
BothVentex Trade Private Limited · promoter→ 5.46% · 4.25 L29 Jun 26
BothUtsav Ispat LLP · promoter→ 0.00% · 4.25 L29 Jun 26
BoughtVentex Trade Private Ltd · promoter→ 5.10% · 7.45 L30 Nov 24
What shareholders were asked to approve
2 proposals passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 15 Sep 2026
See the official result
1
To receive consider and adopt the Audited Financial Statements both Standalone and Consolidated of the Company for the Financial Year ended 31st March 2026 together with the reports of the Board of Directors and the Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
45.13 L votes for, 137 against · 0% of mutual funds and other big investors said no
2
To declare a dividend for the Financial Year ended 31st March 2026. The Board of Directors has recommended a Dividend of 10 percent i.e. Rs.10 per equity share of face value of Re. 1 each fully paid up.
Backed by 100% of shareholders other than promotersneeded 50%
45.18 L votes for, 138 against · 0% of mutual funds and other big investors said no
3
To appoint a Director in place of Mr. Siddharth Bansal (DIN 02947929) who retires by rotation and being eligible, offers himself for re appointment.
Backed by 97% of shareholders other than promotersneeded 50%
43.96 L votes for, 1.22 L against · 3% of mutual funds and other big investors said no
4
To consider and if thought fit to pass the following resolution for ratification of remuneration of Cost Auditors for the Financial Year 2026 27.
Backed by 100% of shareholders other than promotersneeded 50%
45.18 L votes for, 140 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 17 named members
owning 61.5% between them · as of 2026-09-30
SKIPPER PLASTICS LIMITED16.42%
SK BANSAL FAMILY TRUST HELD BY MEERA BANSAL TRUSTEE8.91%
SK BANSAL HERITAGE TRUST HELD BY SAJAN KUMAR BANSAL AS TRUSTEE8.91%
SK BANSAL LEGACY TRUST-HELD BY SAJAN KUMAR BANSAL TRUSTEE8.91%
SK BANSAL UNITY TRUST - HELD BY MEERA BANSAL AS TRUSTEE8.91%
VENTEX TRADE PRIVATE LIMITED5.04%
VAIBHAV METALS PRIVATE LIMITED2.14%
SAMRIDDHI FERROUS PRIVATE LIMITED1.32%
Business done with them
FY2026 · 11 of the group
The company paid ₹160 cr to companies in the promoter group last year — about 2.9% of its ₹5,553 cr revenue and received ₹172 cr back from them.
VENTEX TRADE PVT LTD
Other payments to them · Rent paid, Int paid, loan taken, loan refund, Amount received against assignment of Trade Receivable, Assignment Charges Paid, Purchase of assets and paid against Purchase of assets
also owns 5.04% of the company
₹89 cr
company paid
SKIPPER PLASTICS LIMITED
Other income from them · Rent paid, Int paid, loan taken, loan refund, Amount received against assignment of Trade Receivable, Assignment Charges Paid, Purchase of assets and paid against Purchase of assets
also owns 16.42% of the company
₹60 cr
company received
SKIPPER PLASTICS LIMITED
Other payments to them · Rent paid, Int paid, loan taken, loan refund, Amount received against assignment of Trade Receivable, Assignment Charges Paid, Purchase of assets and paid against Purchase of assets
also owns 16.42% of the company
₹59 cr
company paid
VENTEX TRADE PVT LTD
Other income from them · Rent paid, Int paid, loan taken, loan refund, Amount received against assignment of Trade Receivable, Assignment Charges Paid, Purchase of assets and paid against Purchase of assets
also owns 5.04% of the company
₹43 cr
company received
Samriddhi Ferrous Private Limited
Other income from them · Rent Paid/Provided & Security Deposit Paid & Security Deposit Refunded
also owns 1.32% of the company
₹18 cr
company received
AAKRITI ALLOYS PRIVATE LIMITED
Other income from them · Rent Paid/Provided & Security Deposit Paid
₹18 cr
company received
Utsav Ispat Private Limited
Other income from them · Secuirity deposit paid & Rent Paid/Provided
₹16 cr
company received
SKIPPER POLYPIPES PRIVATE LIMITED
Contribution received from them · Rent Paid, security deposit paid
also owns 0.77% of the company
₹6 cr
company received
Samriddhi Ferrous Private Limited
Contribution received from them · Rent Paid/Provided & Security Deposit Paid & Security Deposit Refunded
also owns 1.32% of the company
₹5 cr
company received
Sajan Kumar Bansal
Other payments to them · Remuneration Paid/Provided and Rent Paid/Provided
also owns 0.09% of the company
₹5 cr
company paid
SKIPPER POLYPIPES PRIVATE LIMITED
Other income from them · Rent Paid, security deposit paid
also owns 0.77% of the company
₹4 cr
company received
Siddharth Bansal
Other payments to them · Remuneration Paid/Provided and Rent Paid/Provided
also owns 0.01% of the company
₹2 cr
company paid
Devesh Bansal
Other payments to them · Remuneration Paid/Provided and Rent Paid/Provided
also owns 0.01% of the company
₹2 cr
company paid
Sharan Bansal
Other payments to them · Remuneration Paid/Provided and Rent Paid/Provided
also owns 0.01% of the company
₹2 cr
company paid
Vaibhav Metals Private Limited
Other income from them · Rent Paid/Provided & Security Deposit Paid
also owns 2.14% of the company
₹91 L
company received
SKIPPER POLYPIPES PRIVATE LIMITED
Other payments to them · Rent Paid, security deposit paid
also owns 0.77% of the company
₹0.9 L
company paid
Utsav Ispat Private Limited
Other payments to them · Secuirity deposit paid & Rent Paid/Provided
₹0.5 L
company paid
Samriddhi Ferrous Private Limited
Other payments to them · Rent Paid/Provided & Security Deposit Paid & Security Deposit Refunded
also owns 1.32% of the company
₹0.4 L
company paid
AAKRITI ALLOYS PRIVATE LIMITED
Other payments to them · Rent Paid/Provided & Security Deposit Paid
₹0.2 L
company paid
Vaibhav Metals Private Limited
Other payments to them · Rent Paid/Provided & Security Deposit Paid
also owns 2.14% of the company
₹0.1 L
company paid

The company also transacted with 15 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹434 cr raised in Jul 2026 by selling shares to selected investors

As of Sep 2026, the company says it has spent 100% of what it set aside. India Ratings and Reseach Private Limited watches the spending on the exchange’s behalf.

Repayment of part of the Working Capital Demand Loan and Cash Credit Facility availed by the Company
100%
₹327 cr of ₹327 cr
For general corporate purposes (which includes, inter alia, meeting ongoing general corporate exigencies and contingencies, expenses of the Company as applicable in such a manner and proportion as may be decided by the Board from time to time, and/or any other general purposes as may be permissible under applicable laws)
100%
₹106 cr of ₹106 cr
₹199 cr raised in Feb 2024 by offering new shares to existing shareholders

As of Mar 2026, the company says it has spent 0% of what it set aside, leaving ₹199 cr still to be spent. INDIA RATINGS AND RESEARCH PRIVATE LIMITED watches the spending on the exchange’s behalf.

Augmenting working capital requirements
0%
₹0 cr of ₹160 cr
General Corporate purposes
0%
₹0.1 L of ₹38 cr
Issue related expenses
0%
₹0 cr of ₹1 cr
Spent by quarter: 2% → 0% → 100% → 0% (to Mar 2026) · 1 earlier quarter is left out because the company restated its figures

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.