Skipper: Transmission Tower Manufacturer Analyzed

Key Points

• Systematix rates Skipper ‘Buy’ with a ₹490 target price.
• Skipper makes transmission towers, with significant installed capacity.
• Strong order book (₹8,800 crore) and expected revenue growth.
• Low costs due to in-house raw materials sourcing (90%).
• Plans to double capacity by FY29, driven by India’s transmission needs.
• Aims for 50% revenue from exports, leveraging higher-voltage infrastructure.

Skipper is a big company that makes the metal towers used to carry electricity across long distances. Systematix, a company that looks at other businesses, thinks Skipper is a good investment and predicts the price of their shares will go up to around ₹490. They gave this recommendation because of how well Skipper is doing right now.

Skipper makes a lot of transmission line towers – enough to handle 3.75 million tons of materials per year as of mid-2026. That means they are a major player in India. They are getting more orders than ever before – about ₹8,800 crore (that’s like a lot of money!) because many new power lines are being built.

Experts believe Skipper’s sales and profits will grow quickly over the next few years. They predict sales will increase by 20%, profits by 24%, and even more by 34% over the next 3 to 4 years. These predictions are based on the fact that lots of money is being spent on building new power lines in India, and Skipper is well-positioned to benefit from this growth.

One of the reasons why Skipper is so good is that they make most of the materials they need themselves. They get nearly 90% of their materials from their own factories, which keeps their costs down. This means they can sell their towers for less than other companies, which is a big advantage.

Skipper wants to make even *more* towers. They plan to double their production capacity to 0.6 million tons a year by 2029. This is happening because India needs a lot more power lines, and because Skipper also wants to sell its towers to other countries. They’re already selling to over 65 countries, and plan to sell to 50% of their revenue from abroad in the next few years.

The government is spending a huge amount of money (₹9.15 trillion) building new power lines over the next few years. This means more opportunities for Skipper to sell its towers. Also, the new power lines will be using towers that are much bigger and stronger than older ones, which is good news for Skipper because they make those types of towers.

Skipper is smart about where it sells its towers. It sells to customers in North America, Europe, Australia, the Middle East, Africa, and Latin America. Selling to these places gives them a bigger market and better profits, which is around 100-200 basis points higher than selling to customers in India.

Because Skipper is building bigger towers and getting better at selling them to big companies building power lines, experts expect their sales to grow a lot in the next few years.

Expanding the network is key to India’s future power supply.