Ajay Upadhyaya bought 3,50,000 shares of this multibagger stock with Rs 5,779 crore order book; Company bags fresh new order of Rs 737 crore from PGCIL

The stock gave multibagger returns of 300 per cent in just 1 year whereas BSE Industries Index is up by 74 per cent.

Skipper Limited (BSE: 538562) and NSE (Symbol: SKIPPER), is one of the world's leading manufacturers of power transmission & distribution structures and a prominent manufacturer of telecom structures and polymer pipes products. The company informed that it has bagged a fresh new order of Rs 737 crores for the design, supply and construction of a new 765 kV transmission line project for Power Grid Corporation of India Limited (PGCIL).

According to the Quarterly Results, the net sales increased by 80.2 per cent to Rs 802 crore and the net profit skyrocketed 100 per cent to Rs 20 crore in Q3FY24 compared to Q3FY23. 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 December 2023, the company’s order book stands at Rs 5,779 crore. Order book to engineering & infra segment sales at 3.7 times of FY23 sales giving revenue visibility for the next 3-4 years.  

Following an earlier announcement of a rights issue for Rs 200 crore, the company has finalized the allotment of 1,02,67,021 new partly paid shares at Rs 194 each (including a premium of Rs 193 per equity share). This increases the issued share capital from 10,26,70,212 shares to 11,29,37,233 equity shares with a face value of Rs 1 each. The remaining amount on these shares will be called in up to three instalments by March 2025.

Skippers Ltd has a market cap of over Rs 3,900 crore with a 3-year stock price CAGR of 80 per cent. In February 2024, an ace investor, Ajay Upadhyaya bought an additional 3,50,000 shares and increased his stake to 1.64 per cent compared to 1.46 per cent in December 2023.

The stock gave multibagger returns of 300 per cent in just 1 year whereas BSE Industries Index is up by 74 per cent. Investors should keep an eye on this small-cap stock.

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

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