Skipper Limited has informed the Exchange about Investor Presentation
9KIPPER
-Limited-
Date: 31st July, 2025
The Manager National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. C-1, Block-G Bandra Kurla Complex, Bandra (E) Mumbai- 400 051 Symbol- SKIPPER
The Manager BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street Mumbai- 400 001 Scrip Code- 538562
Subject: Investor Presentation on Unaudited Standalone and Consolidated Financial Results for the quarter ended 30th June, 2025.
Dear Sir,
In compliance with the provisions of Regulation 30 read with Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the copy of Investor Presentation in connection with Unaudited Standalone and Consolidated Financial Results for the quarter ended 30th June, 2025.
Kindly take the same on record.
Thanking you,
Yours faithfully, For Skipper Limited
Anu Singh Company Secretary & Compliance Officer
Encl: As above
SKIPPER LIMITED
CIN L40104W81981 PLC033408
Regd. Office: 34, Loudon Street, 1st Floor, Kolkata 700 017
Phone: 033 2289 5731/32
Email: mail@skipperlimited.com
Fa 033 2289 5733
Website: www.skipperlimited.com
SEIZING THE MULTI DECADAL OPPORTUNITY Positioned to Power Growth in the Global Transmission sector
Q1’26 - INVESTOR PRESENTATION
July 2025
Table of Contents
9KIPPER
-L4fnitet
1. Q1 FY ’26 Performance Highlights
2. Company overview
3. Key Strengths
`
4.
Industry Overview
5. Financial Trends
6. ESG, Awards & Recognition
Performance & Financial Highlights – Q1 ’26
rs
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4
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---------·
Director Speaks
9KIPPER
Limited
Mr Sharan Bansal, Director
“We are thrilled to report an exceptional start to the financial year, with our highest-ever first-quarter revenue and profitability—a clear validation of the strategic roadmap we’ve laid out. With a 15% year-on-year topline growth, the momentum across our core segments remains strong and backed by solid execution across businesses.
We are especially encouraged by the unprecedented momentum in the Power Transmission & Distribution (T&D) sector, which has emerged as a powerful multi-decade growth opportunity—both in India and globally. The accelerating energy transition, massive grid modernization, and rising investments in renewables and cross-border interconnections are driving a structural upswing in T&D capex across key markets. Our business is perfectly aligned to capitalize on this shift.
This quarter, we secured ₹19,775 million in fresh orders, including marquee wins from PGCIL and international customers, and our order book now stands at an all-time high level of ₹85,205 million, providing long-term visibility and execution strength. With a bidding pipeline exceeding ₹300,000 mn ,we are participating in a wide range of high-value tenders across domestic, Middle East, LATAM, Asia Pacific, North America and African markets—many of which are significantly larger in size and more complex in scope than ever before. We see this as a transformational period for the company, where scale, cost leadership, and trust will define the winners—and we are exceptionally well-positioned on all three fronts.
Our 75,000 MTPA new capacity is now fully installed and commercially operational. This is a strategic enabler that now allows us to target fast- track export orders and short-cycle demand, segments where we faced constraints last year. In addition, we have embarked on another 75,000 MTPA capacity expansion, with a bold vision to become the world’s largest transmission tower manufacturer with 600,000 MTPA capacity by FY28 . On the financial front, our bottom-line saw a 41 % year-on-year growth, supported by improving EBITDA margins, stronger working capital efficiency, and disciplined control over finance costs. This performance reaffirms our ability to grow profitably even as we scale rapidly.
We believe we are entering a golden era for power infrastructure, and our company stands at the forefront of this opportunity—leveraging its scale, credibility, and cost advantage to lead in both traditional and new-age markets. With a record order book, growing execution muscle, and an unmatched manufacturing footprint, we are confident of delivering another landmark year of performance and creating sustained value for our investors”
4
Business Update– Q1 FY’26
9KIPPER
L4mite(
- - - - - - - -
Revenue Performance Highlights
Company registered its highest-ever first quarter revenue of Rs 12,539 million on back of strong execution in Engineering & Polymer business segments, achieved growth of 14.9 % over previous year quarter
The engineering business achieved its highest ever revenue quarter of Rs 10,248 million against Rs 8,286 million in the previous year quarter, registering a stupendous growth of 24 % ;
Export Revenue grew 30% YoY to Rs 3,254 million in Q1, compared to Rs 2,508 million in the previous year, reflecting strong international demand momentum ; Export share in overall engineering revenue stood at 32 % in Q1 ’26
The polymer segment posted a strong rebound, with revenues rising 34% YoY to Rs 1,272 million in Q1, compared to Rs 952 million in the previous year.
Operational & Financial Performance Highlights
EBITDA rose 22% YoY to Rs Rs 1,272 million, highest ever for any quarter, compared to Rs 1,047 million in previous year period
Consolidated EBITDA margins improved to 10.1 % ( vs 9.6% YoY) driven by operating leverage and execution of higher quality T&D contracts
Finance cost as % of sales improved to 4.2 % against 4.7 % in previous year quarter , with ongoing initiatives aimed at bringing it further down in subsequent quarters
Robust growth in bottom line – PAT increased to Rs 447 million, registering 41 % growth over Rs 316 million reported in corresponding quarter of previous year; PAT Margin improved to 3.6 % of sales against 2.9 % in previous year quarter.
5
Other Major Update
9KIPPER
L4mite(
- - - - - - -
Capacity Expansion Plan
PGCIL Prestigious Orders
New capacity of 75,000 MTPA is now fully operational, with commercial production commenced.
An additional 75,000 capacity MTPA capacity addition already underway , Company aims to attain capacity of 6 lac MTPA by Fy'28 end
Secured three (3) prestigious 765 kV transmission line projects from PGCIL in the states of Rajsthan and Andhra Pradesh, Strengthening our position in the high voltage segment and contributing to Rs 19,774 million order inflow this quarter ;
This has propelled our order book to an all time high level of Rs 85,205 million plus, reinforcing strong execution visibility
Major Design & Testing International order
Secured a major tower testing and design order approval from the Middle East’s largest utility, reflecting the growing acceptance of our in house design capabilities among global utilities and strengthening our international positioning
Global Push via Subsidiaries
Strategic expansion underway with board approval for setting up subsidiaries across three (3) key international regions to accelerate export growth and deepen global market penetration
Implementation of SAP S4 HANA RISE SAP S4 HANA RISE user Testing (UT) successfully completed; currently in the System Integration Testing (SIT) phase across all business units, with UAT and Go-Live planned for Q3’26. This implementation will empower the business to streamline operations, enhance efficiency, and gain real time insights for informed decision making, marking a significant milestone in our digital transformation journey
6
Financial Performance Q1 FY’26
Sl
Profit & Loss Summary
Q1 FY’26
Q1 FY’25
1
2
3
4
5
6
7
8
9
Revenues
Reported EBITDA
EBITDA Margins (%)
(+) Other Income
(-) Depreciation
(-) Finance Cost
Finance cost as % to Revenue
Profit Before Tax (2+3-4-5)
PBT Margins (%)
Tax
Profit / Loss After Tax (6-7)
PAT Margins (%)
Cash Profit (4+8)
12,538.62
10,917.44
1,271.65
1,046.65
10.14%
32.77
177.03
529.60
4.22%
597.79
4.77%
151.19
446.6
3.56%
623.63
9.59%
33.59
145.10
512.46
4.69%
422.68
3.87%
106.78
315.90
2.89%
461.0
YoY Change %
14.9%
21.5%
+55 Bps
41.4%
+90 Bps
41.4%
+67 Bps
35.3%
Q4 FY’25
12,877.52
1,236.51
9.60%
90.65
172.20
563.26
4.37%
591.70
4.59%
147.81
443.89
3.45%
616.09
9KIPPER
Limited
Rs in Mn
QoQ Change %
-2.6 %
2.8 %
+54 Bps
1.0 %
+18 Bps
0.6 %
+11 Bps
1.2 %
7
Segment Report
9KIPPER
Limited
Segment
Profit & Loşs Summary
Q1 FY’26
Q1 FY’25
Change %
Engineering Products
Net Sales
EBITDA
% of Sales
Net şales
Polymer Products
EBITDA
%of şales
Net şales
Infra Projects
EBITDA
Total
% of şales
Net şales Total
EBITDA Total
% of Sales
10,247.8
8,286.2
1,162.4
11.3%
1,271.9
52.1
4.1%
911.5
11.0%
952.3
42.8
4.5%
1,018.9
1,679.0
57.1
5.6%
92.4
5.5%
12,538.6
10,917.5
1,271.6
10.4%
1,046.7
9.6%
23.7%
27.5%
33.6%
21.7%
-39.3%
-38.2%
14.8%
21.5%
Polymer 10%
Infra 8%
Engg 82%
Revenue Mix – Q1 FY’26
Note: Segment EBITDA includes allocation of un-allocable expenditure in pro-rata share of Sales and Capital Employed in their respective segment
Investor Presentation | July 2025
8
Polymer – Performance Snapshot
9KIPPER
L4mite(
Growth Driver
Q1 FY’26 Performance Update
Strong Topline Momentum:
Achieved 34% revenue growth in value terms and 40% growth in volume, reflecting strong execution
Favorable Product Mix:
Plumbing segment contribution rose from 42% to 50% in Q1
Widened Distribution Base:
Number of distributors billed increased by 39% year-on-year.
Expanded Retail Presence:
Monthly billed retail outlets grew by 23%, strengthening last-mile reach.
Stable Raw Material Environment:
PVC prices remained steady with a mild upward bias.
Deepened Influencer Engagement:
Over 20,000 plumbers engaged monthly through targeted outreach programs.
9
Key Performance highlights
Rs in Million
9KIPPER
--- Limited
Stand Alone - Revenue
EBITDA & Margin
PAT & Margin
Rs in Mn
+ 15 %
12,878
10,917
12,539
1,047
+ 22 % + 44 %
1,237
1,272
10.1%
9.6%
9.6%
+ 41 %
444
3.5%
447
3.6%
316
2.9%
Q1 FY'25
Q4 FY '25
Q1 FY '26
Q1 FY'25
Q4 Fy'25
Q1 FY '26
Q1 FY'25
Q4 Fy'25
Q1 FY '26
12M’25 Vs 12M’24
+ 41%
46,245
32,820
+ 41 %
+ 95%
3,194
9.7%
4,517
9.8%
1,458
3.2%
747
2.3%
12M FY'24 Investor Presentation | July 2025
12M FY'25
12M FY'24
12M FY'25
12M FY'24
12M FY'25
10
Order Book Highlights
9KIPPER
--- Limited
₹ 85,205 Mn Highest ever closing Orderbook as of June 2025
' ,
f
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,
Share of non-T&D products, including Railways and Telecom, in the overall order book stood at 14 %
'
,,--------------------------,, ,,---------------------------, , '' '
;·
₹ 19,774 Mn New Orders in Q1 FY26
₹ 65,475 Mn Trail 12M Order Inflows
,
\. __ - ---- ----- --- - ---- ---- -
/
Domestic contracts from PGCIL and several Private TSO and SEB’s, reinforced leadership in power T&D Sector
International contracts across Middle East, North and South America helping us to become global industry leader
Orderbook has shown consistent growth
n m
s R
21,151
45,506
62,146
74,584
Mar'22
Mar'23
Mar'24
Mar'25
Investor Presentation | july 2025
Geographical Breakup
Export 10.07%
Domestic 89.93%
Segmental Breakup
14.37%
10.07%
75.56%
■
T&D Domestic
■
Export
■
Non T&D Domestic
Note: Non T&D products includes - Telecom, Railways, Solar, Water EPC & other Steel Structural items
11
Order Inflow Trend
Q1 FY26 Total Inflow – Rs 19,774 mn
Trail 12M total Inflow – Rs 65,475 Mn
28,639
n m
s R
@KIPPER
-- Limited
15,286
12,148
FY’25 - Secured highest ever annual order inflow of Rs 53,353 mn
19,774
16,599 16,599
15,920 15,920
13,182 13,182
11,405
7,652 7,652
4,534
5,010
4,225
2,710
4,027
4,605
4,097
4,016
Q1 FY'22Q2 FY'22Q3 FY'22Q4 FY'22Q1 FY'23Q2 FY'23Q3 FY'23Q4 FY'23Q1 FY'24Q2 FY'24Q3 FY'24Q4 FY'24Q1 FY'25Q2 FY'25Q3 FY'25Q4 FY'25Q1 FY'26
T 1FY'2502 FY'2503 FY'25Q4 FY'2
Investor Presentation | july 2025
12
Performance Guidance – FY’26 Revenue & Order Flows
9KIPPER
L4mite(
Revenue growth trajectory : We maintain ambitious plan for the future, aiming to deliver 25% revenue growth this financial year.
Total Order Inflows : Targeting total order inflows in excess of Rs 65,000 Million during the year ; with 25% driven by global markets
Margins Operating margin to further improve from current levels ; owing to benefit arising out of better quality contracts execution,
Operational efficiencies and various improvement measures towards Increasing productivity and cost reduction initiatives at plant and site level.
Our capability to execute power T&D projects at the highest voltage level set us apart, offering a competitive advantage due to
limited competition. These projects offer superior margins compared to lower voltage lines.
Focus continues towards improving bottom line profitability and capital return ratios
Capacity Expansion Enhancing engineering capacity by another 75,000 MT , culminating in a robust total capacity of 450,000 MTPA , bolstering our
capabilities to meet growing demand
Steering a targeted capex of approx. Rs 2,500 million to fund this expansion, leveraging a balanced mix of debt and internal accruals
for sustainable growth.
Investor Presentation | July 2024
13
Inflection Point with Growth Ahead
9KIPPER
Limited -
Skipper is well positioned to seize the multi - decadal opportunities for exponential growth!
Well-positioned to capture long-term industry tailwinds and to be a proxy play on China Well-positioned to capture long-term industry tailwinds and to be a proxy play on China +1 theme for export markets +1 theme for export markets
Focus on strengthening EHV Market share through capacity expansion and focus Focus on strengthening EHV Market share through capacity expansion and focus on R&D initiatives on R&D initiatives
Scale up exports by increasing penetration into developed markets for key Scale up exports by increasing penetration into developed markets for key segments – Power Transmission and Telecom segments – Power Transmission and Telecom
Enhance retail distribution network of polymer business Enhance retail distribution network of polymer business
Improvement in operational efficiency through economies of scale and cost reduction Improvement in operational efficiency through economies of scale and cost reduction initiatives initiatives
Investor Presentation | july 2025
14
Company Overview
Key Management
9KIPPER
L4rited
Whole Time Directors
Sajan Kumar Bansal Chairman and Managing Director
Sharan Bansal Director
Devesh Bansal Director
Siddharth Bansal Director
Yash Pall Jain Director
Independent Directors
Mr. Ashok Bhandari Independent Director
Mrs. Richa M Goyal Independent Director
Mr. Raj Kumar Patodi Independent Director
Mr. Pramod Shah Independent Director
Mr. Desh Raj Dogra Independent Director
Investor Presentation | july 2025
16
Our Journey – a legacy of 4+ decades
@KIPPER
Limited
- Commissioned one of India’s largest
Tower & Monopole Load Testing Station
- Set up DSIR approved R&D Centre
2020
- Commissioned our first Transmission line EPC project 400 KV Panchkula Patiala for PGCIL - Diversified into Transmission EPC segment by way of forward integration
2023 Appointed MS Dhoni as Brand Ambassador for promoting Polymer Pipes
2018 - Diversified into Railway Electrification
2016
• •
2014 Won supply contracts for South America’s Transmission market
•
2024
- Secured 9 projects from PGCIL, including 8 key 765KV transmission line projects
- Awarded Emerging Power EPC Player by PGCIL
Backward integration through setting up of rolling Mill
2010
•
Received PGCIL approval for tower unit and our first order for 400KV towers
•
2006
•
2009 Got India’s first order for 800KV transmission towers from PGCIL
•
1981
Incorporated for manufacturing of Hamilton Poles
Investor Presentation | july 2025
Note: PGCIL refers to Power Grid Corporation of India Limited
17
Key Strengths
Key USP & Highlights
9KIPPER
L4fnited
Market Leadership
Diverse product portfolio with a legacy of innovation
Integrated low-cost manufacturing capabilities backed by strong R&D
• India’s largest (top 10 globally) integrated T&D tower structures manufacturer • Experienced Promoter with 4 decades of expertise in the manufacturing business • One of the largest manufacturers of T&D structures with tower testing facilities to serve their global customers • Most preferred EPC contractor and supplier of Transmission tower of HVDC / High Voltage Transmission line Projects
• Offers a comprehensive range of products across Engineering, Infrastructure and Polymers • First Indian company to design and supply transmission monopoles to North America • Certifications from sovereign and international clients, including PGCIL approval and ISO 14001: 2015 & ISO 9000
accreditation showcasing quality excellence.
• Due to cost optimization, integrated plant benefits and strategic plant location with proximity to ports, the company is
well positioned to take benefits of a Multi Decadal Transmission Opportunity • Qualified engineering team coupled with in house design and R&D capabilities • Low-cost T&D player in India with the highest EBIDTA margin amongst peers
Strong global presence
• Strong international presence in over 50+ countries • Establishment of an R&D Centre and Tower Testing Station improving brand positioning in export markets
Healthy financial performance and robust order book
• Strong industry tailwinds coupled with company’s market leadership leading to Revenue CAGR of 39.40 % between
FY22-FY25
• Order book to revenue ratio of 1.78 x on FY25 Revenue , showcasing long term revenue visibility
Investor Presentation | july 2025
19
Diverse Product Portfolio (1/2)
9KIPPER
-- Limited --
We manufacture a range of Power Transmission structures, Telecom Towers, and Railway Electrification Infrastructure
Engineering
Infrastructure
Power Transmission Tower
Railway Structures
Power Distribution Poles
MS & High Tensile Angles
Tower & Substation EPC
Telecom EPC
Monopoles
Test Station
Telecom Tower
Fasteners & Tower Accessories
Coatings
Infrastructure Segment
Engineering Segment
12.2%
11.3% ■
13,218
15,239
11.6% ■
22,310
11.2%
35,185
FY23
FY22 ■ Net Sales (Rs. Mn)
FY25
EBITDA Margin
Investor Presentation | july 2025
FY24
-
11 kV – 1200 kV Range of voltage
•.------------
I
21.9% FY25 Export revenue (Engg segment)
3,75,000 MTPA Engg products capacity as of June 2025
3.1%
6.1%
5,984
5.9%
6,743
-5.8%
652
505
FY22
FY23
I ,
■
Net Sales (Rs. Mn)
FY25
EBITDA Margin
FY24
-
Water EPC
,
I
•
•
\ \
,
Forward integration activity Focus on high- margin HVDC Transmission projects
I I
,
,
20
Diverse Product Portfolio (2/2)
9KIPPER
Limited
Leading manufacturer of Polymer pipes and fittings, catering to both plumbing and agricultural sectors with expanding reach and strengthening market share.
Polymer
One of the largest manufacturer of polymer pipes and fittings products in West Bengal and in East India
Growing National Presence with 30,000+ retail units across India(1)
Leveraging Economies of Scale in Procurement of PVC & CPVC Resin locally and internationally
End use industries: Plumbing, Sewage, Borewell & Agriculture Focusing on Plumbing products
UPVC Pipes
CPVC Pipes
to
loo roots
o
toot
HDPE Pipes
Fittings
Skipper Pipes have been certified with highest standard of NSF 14 in 2016
Storage Tanks
Bath Accessories
Agriculture Pipes
Borewell Pipes and Fittings
Investor Presentation | july 2025
62,000 MTPA Polymer Capacity as of FY25
Polymer Segment
4.7%
4,059
5.2%
■
4,526
3.4%
3,200
4.3%
4,317
FY25
FY22 Net Sales (Rs. Mn)
FY23
■
EBITDA Margin
21
FY24
-
Core Competencies in Manufacturing
9KIPPER
L4mite(
Integrate manufacturing facilities with advanced technology
Manufacturing footprint largely concentrated in Kolkata
.ue
Lt
1
Uluberia - Kolkata, (WB)
262K MTPA (including poles) 55K MTPA
* *
Unit 1 - Kolkata, (WB) 75K MTPA
BCTL - Kolkata (WB) 38K MTPA
Guwahati – Assam 7K MTPA
2
3
• ?* ?*
4
Engineering products capacity
Polymer Pipes & Fittings products capacity
*
Investor Presentation | july 2025
*
r t " l l l r
Automated State-of-the-Art Equipment
Value Optimization through Engineering and Design Excellence
75% Production is through Automated CNC line
l l l
r t r
In-House Availability of Products, Accessories, and Technical Services
Single location plant leading to Cost Efficiencies
7 Galvanizing plants in- house with a Galvanizing capacity of 375k MT p.a.
Strategically located plants in the East, ensuring raw material access, proximity to Haldia & Kolkata port, and cost-effective labour
Awarded as “Largest Tower Supplier” by PGCIL (1) & "Best Industry in Water Resources sector" by Central Board Of Irrigation And Power (2)
PGCIL Approved and ISO Certified Large Manufacturing Capacities enabling participation in large scale project orders; NABL certification for its in-house test labs
: l :
:
22
Manufacturing Value Chain
9KIPPER
L4mite(
Our Value Chain
Steel Billets & blooms as input
Wire Rod as Input
Manufacture MS & HT Angles
Manufacture Bolts & Nuts
Manufacture D-shackles & Hangars
(2)
@)
Scale & Size
)
+
Strategic location
@
Backward integration
+ - -
Fabricate & Galvanize Complete Towers
EPC Line Construction
Investor Presentation | july 2025
[
Competitive Advantage for Skipper!
l
23
Powering growth through R&D
$ $KIPPER
R&D
9KIPPER
--- Limited
.-----------------
+
' '
765 kV D/C Tower ' f '-------------------------'
' ' ' ' ij ' ' I ' ...
\
I l
Tested towers & monopoles . .. ---------------- 220 kV D/C Tower
500 kV D/C Tower _
_________ ,/
' ' ' ' ' ' ' '
' ' '
' ...
' ' ' '
' ' ' ' f
_
765 kV S/C Monopole
¢
' ' ' ' ' ' ' I ' ...
400 kV D/C Monopole
' '
,
Leading through innovation
• We have strengthened our innovation capabilities backed by our
talented designing and R&D teams.
• In-house research & development Centre - Howrah, West Bengal
• DSIR approved facility
• We are assuring our clients by conducting prototype tests in our
state-of-art test centers.
Our USP in R&D
Capability to test highest tower of 120m height with
1200kV in India
Optimum efficiency designs Dedicated in-house R&D center Automated central loading and supervision system Dual-speed VFD Driven Electrical Winches
Investor Presentation | july 2025
24 24
Strong Global presence
9KIPPER
Limited a
4 f
...
,
f
f
I ' '
Q <
Exporting to
50+
countries
_ ---------
---------
---------- .. ,\
' . .
'
24.5%
FY22-FY25 Export Revenue CAGR
4 f
f
'
�
17 %
FY25 Export contribution to Overall Revenue ---------
---------
a
' . f
f f
8,708 mn
Share of Exports in 12M FY25 Orderbook (Rs mn) ---------- ---------
e
f f
�
We are focused on scaling our exports
$
Africa 18
South America 9
Middle East 7
South and SE Asia 9
North America 3
Oceania 2
Europe 6
China+1 strategy presents a significant opportunity for India as the preferred
In-house design capabilities and skilled professionals to deliver value-added
sourcing location
and cost effective design solutions, enhancing project bids.
One of the suppliers to South America transmission market, exclusive
Strong working relationship with major Global EPC players
agreement with a major TSO(1) signed in 2014
Enhanced credibility through certification of prominent international
Improved brand positioning in the export market due to our establishment
organizations and Countries
of an R&D centre and Tower Testing Station
Investor Presentation | july 2025
Note: 1. TSO – Transmission service operator
25
Industry Overview
Power T&D Lines a Multi Decadal Opportunity
9KIPPER
-- Limited
Addition of 7.4 mn of transmission lines globally till CY50
Global grid investment to nearly double in next 5 years
Asia pacific and North America continue to hold lion’s share with 70% of total investments
12.7
3,053
7.2
5.3
n b D S U
1,644
h t g n e
l
d e
l l
a t s n
I
)
m k n m
(
2021
2030
2050
CY19-23
CY24-29
Region wise split of CY24-29 investment (USD 3,053 bn)
. ------I ' ', ' , '---------- , �,
4% 2%
4%
5%
30%
39%
16%
■ ■ ■ ■ ■ ■ ■
India North America Europe Asia Pacific Latin America Middle East Africa
Growth Drivers
Global
India
Integration of Renewable Energy Sources Grid Modernization and Upgrades Electrification Initiatives in Emerging Economies Cross-Border and Regional Interconnections Sustainability and Decarbonization Goals
Demand for advanced technologies like HVDC and
smart grids
Renewables energy resources integration Increasing electricity demand and rural electrification Key Government regulations in India such as NEP, The National Grid Plan, GEC, NIP, PLI Scheme, Gati Shakti
Investor Presentation | July 2025
Source – CareEdge report
27
Power T&D super-cycle underway in India
@KIPPER
L4mite(
Rs 9.2 tn
NEP Capex outlay during FY22–32 on High Voltage (> 220kV)
\
r-----' s -----, ,'
The GOI (combined NEP + State) to add 1.15 lakh ckm of lines in the period FY22-27 and 0.77 lakh ckm of
lines during FY27-32
Additionally, 33 GW of HVDC Bipole links are in the process of planning The interregional transmission capacity to increase to 168 GW by 2032 from present 119 GW Transmission network to increase by 33% to 6.48 lakh ckm in FY32 from 4.85 lakh ckm in 2024; 87% increase in
transformation capacity to 2,342GVA from 1,251GVA.
RE addition spurring new cycle of T&D capex
PGCIL continues to dominate transmission capex
765 kV line expected grow at 13% CAGR till FY32
1,000
)
800 W 600 G ( y t 400 i c a p a 200 C
-
D .1
442
400
8
191
243
7 157
236
FY22
c
900
20
596
284
c
610
13
337
260
FY24
FY27E
FY32E
■
Nuclear Capacity
■
Renew Capacity
■
Thermal Capacity
2,075
n B s R
Capex to double in the next 2 years
N
250
94
■
FY22
112
FY24
FY26E
FY25-32E
m k c h k a L
0
• •
4.85
4.56
0.10
0.09
0.10 r, 0.09 0.51
0.55
1.94
1.92
2.04
2.07
c c
5.71
0.35
6.48
--
2.50
1.15
0.10
0.88
0.09
2.29
2.36
2.49
FY22
FY24
FY27E
FY32E
800 KV HVDC
500 KV HVDC
765 KV
400 KV
220 KV
Transmission opportunity of INR 9.2 trillion to further increase with additional capex in <220 kV lines by STUs/ SERC.
Investor Presentation | July 2025
Source – CareEdge report Note: STU- State Transmission Utilities, SERC – State Electricity Regulatory Commission, GVA - Gigavolt-amperes
28
Importance of New Transmission lines for Renewables
@KIPPER
--- Limited
New transmission lines are a crucial part of our renewable energy future – They ensure reliable, efficient and widespread renewable power supply .... ------
,,,,,
Resource Location
Energy Reliability
Grid Integration
Capacity Expansion
Many renewable sources are in
Renewables can be intermittent
Existing grid infrastructure
remote areas
Transmission lines bridge the
gaps to where energy is needed
.... .//
I I
\ ..........
due to weather
New line help balance supply
and demand
-- - --------- -- - --------- -- -
....
/
........
needs upgrading
Transmission lines aid
renewable energy distribution
!
I ' \ .........
Transitioning to renewables
strains existing lines
New lines are vital for increased .. .... ' .. ,,.
energy flow
4
i
.. ,//
( .
ffi
Energy Loss Reduction
69%
·ts 6°
Decentralization
Modern lines are more
efficient
Reducing losses makes
renewables cost effective
Lines enables bidirectional
power flows
Rooftop solar and local sources need support
\
' ' ' ' ' ' ' ' ' '
j
,/'
Grid Resilience
Transmission upgrades enhances grid resilience
Make utilities better
' ._
prepared for extreme events _
' / ....
Investor Presentation | july 2025
29
Strong tailwinds in Telecom and Railway sector
@KIPPER
L4mite(
Telecom sector in India - 2nd largest Telecom market in the world
Growth Drivers for Telecom sector
2nd largest Telecom market in the world with a subscriber base of ~1.18 bn Internet penetration up 75% as of CY24 (CY20 -54%) , to reach 86% by CY28 India’s 5G subscriber base to rise to 25% of overall users as against ~20% at present
Rollout of 5G to dominate demand for telecom towers
Telecom Towers investments leading to higher EPC opportunities
s t i n u 0 0 0
‘
837
582
1,218
n b s R
864
327
537
1,479
544
935
CY19
CY24E
CY29E
India Telecom Towers Volume
CY19-23
CY24-29
■
Tubular Telecom Tower Angular Telecom Tower
Railway sector trends and drivers
Rapid 5G Expansion
Surge in data consumption
Digital transformation across sectors
Rise of IoT and Industrial Applications
Increasing Rural connectivity
Currently, over 85% of the broad-gauge network has been electrified, totaling over 69,000 kms, with a goal to achieve 100% electrification by 2025 GOI plans to invest over Rs 10 tn from FY25 to FY30, focusing on further electrification, digitalization, and high-speed rail expansions With a Capex of Rs. 2,622 bn and a Gross Budgetary Support of Rs. 2,522 bn, the GOI is transforming Indian Railways into a world-class network GOI schemes such as PM Gati Shakti, Dedicated Freight Corridor, Amrit Bharat, High Speed Rail Corridors are transforming the Indian railway sector
Investor Presentation | July 2025
Source – CareEdge report
30
Polymer sector outlook
9KIPPER
L4mite(
In India’ CPVC pipes market grow > 2x by CY29rivers
Key Growth Drivers Drivers
799
251
548
480
118
362
Government Infrastructure Initiatives
•
•
•
Jal Jeevan Mission to provide tap water connections to all rural households by 2024
AMRUT for sustainable urban development
Housing for All
• Nal se Jal
•
Swachh Bharat Mission
Urbanisation project -smart cities and urban renewal projects
Shift
from Metal
agriculture, industrial applications.
residential plumbing,
to Polymer Pipes across sectors
i.e sewage systems, and
CY24E
CY29E
agricultural productivity
Increasing focus on micro irrigation efficiency and improving
■
UPVC Pipes
■
CPVC Pipes
Rising awareness and adoption of water
conservation
practices
) n B s R (
348
74
274
CY19
The polymer pipes experienced significant growth in last decade lead by shift from Metal to Polymer Pipes
Investor Presentation | July 2025
Source – CareEdge report
31
Financial Highlights
rs
« ·,
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---------·
Key Performance highlights
Rs in Mn
Revenue
CAGR 39.40%
EBITDA & Margin
CAGR 39.10%
46,244.80
9.83%
32,820.43
9.72%
9.73%
9.77%
4,516.58
1.47%
Rs in mn
9KIPPER
--- Limited
PAT & Margin
CAGR 81.11%
1.80%
2.49%
3.23%
1,493.46
17,070.80
19,803.00
1,678.30
1,925.48
3,194.34
816.65
251.47
355.66
FY22
FY23
FY24
FY25
FY22
FY23
FY24
FY25
FY22
FY23
FY24
FY25
Net Working Capital Days (excl. creditor acceptances)
231
211
163
95
Leverage Ratios
«
Debt to Equity
3.38x
0.77x
2.51x
0.63x
-
Debt to EBITDA
1.81x
1.55x
0.64x
0.59x
FY22
FY23
FY24
FY25
Investor Presentation | July 2025
FY22
FY23
FY24
FY25
Performance Ratios
ROE (%)
ROCE (%)
- - -------
• FY22
12.30%
FY23
3.43%
9.23%
4.63%
FY24
9.10%
19.15%
21.71%
12.52% e.
FY25
33
Profit & Loss - Trend
Sl
Particulars
1
2
3
4
5
6
7
8
9
Revenues
Reported EBITDA
EBITDA Margins (%)
(+) Other Income
(-) Depreciation
(-) Finance Cost
Finance cost as % to Revenue
(+) Share of Profit / (Loss) of JV
Profit Before Tax (2+3-4-5+6)
PBT Margins (%)
Tax
Profit / Loss After Tax (7-8)
PAT Margins (%)
9KIPPER
L4mite(
Rs in mn
FY22
17,070.80
1,678.30
9.83%
40.12
484.92
930.03
5.45%
-34.64
268.83
1.57%
17.36
251.47
1.47%
FY23
19,803.00
1,925.48
9.72%
53.17
467.80
1,040.09
5.25%
28.58
499.34
2.52%
143.68
355.66
1.80%
FY24
32,820.43
3,194.34
9.73%
85.95
525.30
1,539.87
4.69%
69.83
1,284.95
3.92%
468.30
816.65
2.49%
FY25
46,244.80
4,516.58
9.77%
195.19
632.96
2,127.49
4.60%
35.18
1,986.50
4.30%
493.04
1,493.46
3.23%
Investor Presentation | July 2025
34
Segment Report
9KIPPER
L4mite(
Rs in mn
Segment
I
Profit & Loss Summary
I
FY22
I
FY23
I
FY24
FY25
I
Net Sales
13,218.48
15,238.54
Engineering Products
EBITDA
EBITDA margin (%)
Net şales
Polymer Products
EBITDA
Infra Projects
Total
EBITDA margin (%)
Net şales
EBITDA
EBITDA margin (%)
Net şales Total
EBITDA Total
EBITDA margin (%)
-
1,607.92
12.16%
3,200.21
108.28
3.38%
652.11
-37.90
-5.81%
1,718.34
11.28%
4,059.49
191.75
4.72%
504.97
15.39
3.05%
-
-
22,310.42
35,184.94
2,595.44
11.63%
4,526.38
236.80
5.23%
3,929.81
11.17%
4,317.41
186.37
4.32%
5,983.63
6,742.45
362.10
6.05%
400.40
5.94%
17,070.80
19,803.00
32,820.43
46,244.80
1,678.30
9.83%
1,925.48
9.72%
3,194.34
9.73%
4,516.58
9.77%
Note: Segment EBITDA includes allocation of un-allocable expenditure in pro-rata share of Sales and Capital Employed in their respective segment
Investor Presentation | July 2025
35
Balance Sheet Trend
Assets
Non-Current Assets
FY22
----
FY23
FY25
FY24
Equity
Equity and Liabilities
Equity Share Capital
@KIPPER
L4mite(
Rs in mn
FY22
----
FY23
FY24
FY25
102.67
102.67
105.24
112.85
Fixed Assets (Incl. CWIP)
6,709.31
7,041.05
7,653.99
10,343.62
Other Non-Current Assets
278.84
636.53
567.36
740.79
Other Equity
Total Equity
7,218.64
7,571.46
8,870.96
11,818.18
7,321.31
7,674.13
8,976.20
11,931.03
Total Non-Current Assets
6,988.15
7,677.58
8,221.35
11,084.41
Non-Current Liabilities
Current Assets
Inventories
7,860.64
9,132.01
12,031.45
11,974.06
Borrowings
2,119.84
1,918.85
3,008.15
2,317.50
Other Non Current Liability
560.13
1,585.05
1,898.70
1,577.17
Total Non Current Liability
2,679.97
3,503.90
4,906.85
3,894.67
Trade Receivables
4,343.97
3,602.22
7,661.46
7,012.79
Current Liabilities
Cash and Bank Balances
392.03
310.81
1,348.90
1,205.95
Borrowings
3,546.67
2,921.34
2,764.45
4,697.29
Other Current Assets
1,254.66
1,503.79
2,183.98
2,694.69
Trade Payables
6,264.26
5,881.15
12,205.81
12,217.77
Other Current Liabilities
1,027.24
2,245.89
2,593.83
1,231.14
Total Current Assets
13,851.30
14,548.83
23,225.79
22,887.49
Total Current Liabilities
Total Assets
20,839.45
22,226.41
31,447.14
33,971.90
Total Equity and Liabilities
Investor Presentation | July 2025
20,839.45
10,838.17
11,048.38
17,564.09
----
18,146.20
31,447.14
22,226.41
33,971.90
36
Shareholding Pattern
9KIPPER
L4mite(
Shareholding pattern As on 30th June 25
Major Shareholders List
Promoters 66.48%
Name
Chartered Finance & Leasing
India Capital Growth Fund (ICGF) / ICG Q
Ajay Upadhyaya
The Prudential Assurance Company Ltd
William Blair Fund
Alquity Fund
M&G Fund
%
1.76%
1.68%
1.60%
1.48%
1.08 %
0.40%
0.22%
[Foreign Portfolio Investors]] 5.42%
[Others] 28.10%
Investor Presentation | April 2025
37
ESG, Awards & Recognition
rs
« ·,
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---------·
Environmental, Social and Governance (ESG/1)
9KIPPER
L4mite(
Strategic ESG Roadmap & Vision Commitment to Occupational Safety, Health & Wellbeing, and creating a “Zero Harm Culture.” Compliance with stringent domestic and international regulations, alongside internal ESG policies.
Environmental Initiatives & Impact • Significant investment in renewable energy:
Rooftop solar capacity installed: 2.655 MW across facilities (Uluberia, Guwahati, others). FY24-25 solar energy generation: 2.54 million kWh. Over three years (FY22-25), solar energy generation totals ~5.15 million kWh. Estimated GHG emission reduction due to solar: ~3000 MT CO2 equivalent.
• GHG Emissions Data for Uluberia Unit:
Total GHG emissions (FY24-25): ~78,816 MT CO2e. Specific GHG emission intensity improved to 0.86853 t CO2 eq./MT production compared to 0.8953 t CO2 eq./MT last year (FY24)
• Energy Consumption:
Use of both renewable and non-renewable energy, with ongoing efforts to increase renewable share. FY24-25 total energy consumption: 761,567 GJ. [FY23-24 energy consumption-836,478 GJ] -Reduction by 9.7 % Rainwater harvesting capacity of 5,000 CUM supports water conservation goals. Replacement of CO2 gas with Argon/CO2 mix in welding processes to reduce carbon footprint (~200-250 MT CO2 savings per year).
Product Sustainability & Green Certification
• Implementation of Life Cycle Assessment (LCA) and obtaining Environmental Product Declarations (EPDs) (Type III eco-labeling) for HDG poles. • Green product portfolio endorsed by certifications like IS 14025 (Eco-labeling), GreenPro (Polymer) • Installation of advanced Air Pollution Control Devices (APCD) with Bag filters and opacity meters, reducing particulate matter drastically.
Social and HR Initiatives
• Emphasis on creating a "Great Place to Work" (Certification received for last 3 years) with a healthy, safe, and inclusive environment. • Building pipeline for future- 250 GETs onboarded for EPC from various recognized institutes.
Investor Presentation | july 2025
39
Environmental, Social and Governance (ESG/2)
Obtained certificate of LCA and EPD for our Towers and Pole products. This is required for export of products to
Europe as well as USA.
Installed 90 KLD capacity STP to promote water conservation and explore opportunities for reusing of treated
sewage water. Specially designed engineered bacteria have been used for treatment of generated sewage
Encapsulated GI process with integrated APCD arrangement
Process Effluent Treatment facility (ETP unit Integrated with MBBR, Clarifier & Tertiary treatment Facilities) in
January 2022
100s of Tree Plantation Initiatives at Skipper
Installed clean Fuel for Furnace Operation-FO replaced with LPG in Jangalpur
Set up RO water from STP treated water(20 KLD) for GI operation
Daylight harvesting with rooftop sheets, to enhance the Lux levels at our working area
Investor Presentation | july 2025
-.
[d are
- ' f
40
Social and Environment Initiatives (1/2)
9KIPPER
L4mite(
Skipper cares Our company's journey towards contributing to society began long ago, and we have always believed that it's an integral part of our ecosystem. To ensure that our efforts are focused and effective, we have developed a CSR Framework in line with Schedule VII of the Companies Act, 2013. A dedicated CSR committee oversees the implementation of these initiatives and monitors their progress.
Beti Padhao abhiyaan – Flagship Project In 2017, we launched the Beti Padhao Abhiyan, inspired by the government's Beti Bachao, Beti Padhao Yojana. It has now become a flagship project. We annually select underprivileged girls from schools in Kolkata & Howrah and provide them scholarships based on their individual needs.
Investor Presentation | july 2025
Infrastructure support to schools We annually assist in school infrastructure development, including building maintenance, providing furniture for students and teachers, supporting electricity bill payments, hiring guest teachers, ensuring clean drinking water, and providing food for hostel children.
Environment sustainability The project includes supporting the maintenance of two cremation ghats in Kolkata to prevent water and air pollution. Additionally, the Company has adopted a Traffic Theme Park in Nibra, Howrah, covering an area of 1,224 sqmt., and is responsible for its overall maintenance.
Animal welfare The Company has partnered with the Calcutta Pinjrapole Society to provide care, maintenance, and food for old, sick, and abandoned cows. This includes the construction and upkeep of cow shelters and clinics.
Integrated village development One Teacher School (OTS) Ekal on Wheel Arogyam Homeopathy clinic Training centres
41
Social and Environment Initiatives (2/2)
9KIPPER
-- Limited --
Seth Soorajmull Jalan Vidya
·
i, NT
Investor Presentation | july 2025
42
Skipper Pipes – 100% Lead Free Campaign
9KIPPER
-Limited
Awarded the Green Pro Certification by CII-IGBC (Indian Green Building Council).
Skipper Pipes have been certified with highest standard of NSF 14.
Investor Presentation | july 2025
43
Recognition
Recognized Great place to work 3 years consecutively
3 -
.
BRITISH SAFETY COUNCIL PREMIUM MEMBER 2025
ee ».
Congratulations!
Sq; ,i
@KIPPER
Limited
I
RECOGNIZED GREAT PLACE TO WORK
INTERNATIONAL SAFETY AWARD 2025
ustainable Carbon Reduc Energy Award
Investor Presentation | july 2025
44
ASSOCHAM AWARD 2025
ET ENTREPRENEUR AWARD 2025
EMERGING EPC PLAYER AWARD BY POWERGRID 2024
9KIPPER
L4mite(
D I S C L A I M E R
This presentation (“Presentation”) does not constitute a prospectus, a statement in lieu of a prospectus, an offering circular, an advertisement, an offer document or an offering memorandum, under the Companies Act, 2013, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, each as amended, or any other applicable law. This presentation is for informational purposes only and is not a solicitation of any bid from any investor. Nothing in this presentation, or any oral information provided in connection with it, shall constitute or deem to constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction. This presentation has not been and will not be reviewed or approved by any statutory or regulatory authority in India or by any stock exchange in India.
This presentation should not be considered as a recommendation that any investor should subscribe for or purchase any securities of Skipper Limited (the “Company”) and should not be used as a basis for any investment decision. The Company will not update you in the event the information in the presentation becomes stale. Moreover, no express or implied representation or warranty is made as to, and no reliance should be placed on the accuracy, fairness or completeness of the information presented or contained in this presentation.
None of the Company or any of its affiliates, advisers or representatives accept any liability whatsoever for any loss howsoever arising from any information presented or contained in this presentation. Furthermore, no person is authorized to give any information or make any representation which is not contained in, or is inconsistent with, this presentation. Any such extraneous or inconsistent information or representation, if given or made, should not be relied upon as having been authorized by or on behalf of the Company.
This presentation is highly confidential, being given solely for your information and for your use, and may not be copied, reproduced, or redistributed to any other person in any manner. The distribution of this presentation in certain jurisdictions may be restricted by law. Accordingly, any persons in possession of this presentation should inform themselves about and observe any such restrictions.
This presentation contains certain statements of future expectations and other forward-looking statements, including those relating to the Company's general business plans and strategy, its future financial condition and growth prospects, and future developments in its sectors and its competitive and regulatory environment. In addition to statements which are forward looking by reason of context, the words ‘may’, ‘will’, ‘should’, ‘expects’, ‘plans’, ‘intends’, ‘anticipates’, ‘believes’, ‘estimates’, ‘predicts’, ‘potential’ or ‘continue’ and similar expressions identify forward looking statements. All forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results, performances or events to differ materially from the results contemplated by the relevant forward-looking statement. The factors which may affect the results contemplated by the forward-looking statements could include, among others, future changes or developments in (i) the Company’s business, (ii) the Company’s regulatory and competitive environment, and (iii) political, economic, legal and social conditions in India or the jurisdictions in which our Company operates. Neither the Company nor its affiliates or advisors or representatives nor any of its or their parent or subsidiary undertakings or any such person's officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this presentation or the actual occurrence of the forecasted developments. Forward-looking statements speak only as of the date of this presentation and are not guarantees of future performance. As a result, the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this presentation as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based. This presentation includes certain industry data and projections that have been obtained from industry publications and surveys. Further, certain numbers in these presentations and materials have been subject to routine rounding off and accordingly figures shown as total in tables and diagrams may not be an arithmetic aggregation of the figures that precede them.
By attending this presentation and/ or accepting a copy of this document, you agree to be bound by the foregoing limitations and conditions and, in particular, will be taken to have represented, warranted and undertaken that: (i) you have read and agree to comply with the contents of this notice including, without limitation, the obligation to keep this document and its contents confidential; (ii) you will not at any time have any discussion, correspondence or contact concerning the information in this document with any of the directors or employees of the Company nor with any of their customers or suppliers, or any governmental or regulatory body without the prior written consent of the Company; and (iii) you agree not to remove or copy this document, or any materials provided in connection herewith.
Investor Presentation | july 2025
45