Skipper Q1 FY27 results: PAT jumps 26.5% YoY

What Skipper reported for the June 2026 quarter

Skipper Limited reported single-digit year-on-year growth in the quarter ended June 30, 2026 (Q1 FY27), while profitability improved sharply. Consolidated revenue was ₹1,309.83 crore, up 4.46% year-on-year, but down 21.41% sequentially from the March 2026 quarter. The company’s net profit for the quarter rose to about ₹56.5 crore, reflecting a 26.5% year-on-year increase as cited in its updates and reports. Operating performance improved, supported by margin expansion and execution in infrastructure. Skipper also described the quarter as affected by delayed export shipments, which it expects to normalise in coming quarters. Despite the weaker first quarter on exports, management retained its FY27 guidance.

Key financial highlights: revenue, EBITDA, and PAT

Skipper’s Q1 FY27 revenue from operations stood at ₹1,309.83 crore. Reported EBITDA was ₹140.11 crore, up 10.2% year-on-year, with EBITDA margin at 10.7% versus 10.1% a year earlier. Profit after tax (PAT) was ₹56.47 crore (also reported around ₹56.5 crore on a standalone basis), up 26.5% year-on-year. PAT margin improved to 4.3% from 3.6% as referenced in the summary. Separately, the quarterly table also shows operating income (operating profit) at ₹117.93 crore and an operating margin of 9.00%. The difference between EBITDA and operating profit aligns with depreciation and amortisation of ₹22.18 crore reported for the quarter.

Sequential trends show a softer quarter

On a quarter-on-quarter basis, the June 2026 quarter was softer compared with March 2026. Total revenue declined 21.41% QoQ to ₹1,309.83 crore from ₹1,666.58 crore. Operating income declined 22.35% QoQ to ₹117.93 crore from ₹151.88 crore. Net income fell 27.21% QoQ to ₹56.81 crore from ₹78.06 crore. Net income before taxes declined 25.06% QoQ to ₹75.99 crore from ₹101.40 crore. Basic and diluted EPS for Q1 FY27 was ₹5.03 versus ₹6.96 in Q4 FY26.

Cost and expense movement within the quarter

Total operating expense in Q1 FY27 was ₹1,191.90 crore, down 21.31% from ₹1,514.70 crore in Q4 FY26, but up 4.15% from ₹1,001.59 crore in Q1 FY26. Depreciation and amortisation increased to ₹22.18 crore from ₹14.51 crore a year earlier, a 25.30% year-on-year rise. Selling, general and administrative expenses were ₹71.42 crore, up from ₹37.99 crore in the year-ago quarter. Other operating expenses totalled ₹129.18 crore, up from ₹106.82 crore in Q1 FY26. These movements sit alongside the margin improvement reported at the EBITDA and PAT level.

Order book hits a record, with fresh inflows in Q1

Skipper reported a record closing order book of ₹9,216.6 crore as on June 30, 2026. This was stated to be up 8.4% from ₹8,501.9 crore in the year-ago period. Order inflow during the quarter was ₹1,674.4 crore. The company highlighted that the inflows included two 765 kV transmission line projects in Maharashtra. Record order book levels matter for execution-led businesses because they offer near-term revenue visibility, subject to project timelines.

Management commentary: guidance retained despite export delays

Director Sharan Bansal said Skipper remains on track to deliver FY27 guidance of around 15% revenue growth and approximately 30% PAT growth. The company retained this guidance despite a weak first quarter attributed to delayed export shipments. Management also indicated expectations that export shipments will normalise in the coming quarters. This positioning suggests Skipper is leaning on execution strength and margin gains to offset near-term shipment timing issues. The company’s updates linked the quarter’s profit growth to margin expansion across profitability metrics.

Conference call, disclosures, and AGM date

Skipper’s Q1 FY27 earnings conference call took place on August 12, 2026, and was hosted by ICICI Securities Limited. The company also submitted a regulatory compliance filing stating that the audio recording of the conference call is available on its website. Separately, the Board scheduled the company’s 45th Annual General Meeting (AGM) for September 15, 2026. The AGM is to be conducted through Video Conferencing or Other Audio-Visual Means (OAVM). These disclosures are part of the company’s standard communication around quarterly results.

Snapshot table: Q1 FY27 vs Q4 FY26 vs Q1 FY26

Why the quarter mattered for investors

The June 2026 quarter combined modest revenue growth with faster profit growth, highlighting the impact of margin expansion and operating control. At the same time, the sequential decline in revenue and profit underlines the role of timing, including delayed export shipments, in quarterly outcomes. The record order book of ₹9,216.6 crore and quarterly inflow of ₹1,674.4 crore provide a factual anchor for the company’s execution outlook. Investors will likely track whether exports normalise as indicated and whether the company sustains the EBITDA margin level reported at 10.7%. The next checkpoints include management commentary in subsequent quarters and milestones on project execution. The AGM scheduled for September 15, 2026 is the next formal event on the calendar.