Rs 5,372 crore order book: This multibagger engineering company installs India’s tallest flagpole at the Atari-Wagha Border in Punjab!

The stock gave multibagger returns of 125 per cent in just 6 months and over 220 per cent in 1 year.

Skipper Limited (BSE scrip code: 538562) and (NSE symbol: SKIPPER), one of the world's leading manufacturers of power transmission and distribution structures and a prominent manufacturer of poles and high mast structures, announced that it has installed India’s tallest 418 feet (127.5 meters) flagpole at Atari-Wagha Border in Punjab. It stands as a symbol of both pride and our national identity, with its inauguration led by the Minister of Road Transport and Highways, Shri Nitin Gadkari. He was accompanied by Punjab's Chief Minister, Shri Bhagwant Mann.

Project Details:

The tallest flagpole in India is 418 feet or 127.5 meters tall. It consists of 14 sections that are securely joined together. The top section has a diameter of 900 mm, while the bottom section has a diameter of 2150 mm. The flagpole can bear a flag size of 120 feet by 80 feet.

The flagpole was erected using a DEMAG AC 1600 model crane with a hydraulic boom length of 50 meters and an additional 90-meter lifting fly jib. The erection process was completed within 15 days using a vertical lifting arrangement.

The foundation of the flagpole is a special steel foundation with 8.8-grade anchor bolts. The foundation and structural designs were vetted by IIT Chennai. Nine piles and a concrete grade of M25 were used for the foundation.

According to the Quarterly Results ended June 30, 2023, the net sales increased by 33.41 per cent to Rs 555 crore, the operating profit increased by 71.43 per cent to Rs 60 crore and the net profit skyrocketed 1,700 per cent to Rs 16 crore in Q1FY24 compared to Q1FY23. In FY23, the net sales increased by 16 per cent to Rs 1,980 crore and net profit increased by 44 per cent to Rs 36 crore compared to FY22. As of June 2023, the company’s order book stands at Rs 5,372 crore and is well-diversified across various sectors and segments (Domestic orders are 76 per cent and Export orders are 24 per cent).

Skippers Ltd has a market cap of Rs 2,344 crore with a 3-year stock price CAGR of 64 per cent. On Friday, shares of the company plunged 1.72 per cent to Rs 228.20 per share with an intraday high of Rs 235.95 and an intraday low of Rs 225.70. As of September 2023, an ace investor, Ajay Upadhyaya owns a 1.66 per cent stake in the company.

The stock gave multibagger returns of 125 per cent in just 6 months and over 220 per cent in 1 year. Investors should keep an eye on this Small-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.