External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Strong Order Book: Skipper received new orders totalling Rs 1,243 Cr in Q2FY26, which included three large wins from PGCIL and key other export markets.</li><li>As of Sep’25, the order book stood at its highest ever at Rs 8,820 Cr.</li><li>The order book comprises 76% domestic T&amp;D orders, 13% non-T&amp;D orders (including Telecom, Railways, Solar, Water EPC, and other Steel Structural items), and 11% export orders. All export orders pertain to T&amp;D. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Strong Order Book: Skipper received new orders totalling Rs 1,243 Cr in Q2FY26, which included three large wins from PGCIL and key other export markets.As of Sep’25, the order book stood at its highest ever at Rs 8,820 Cr.The order book comprises 76% domestic T&amp;D orders, 13% non-T&amp;D orders (including Telecom, Railways, Solar, Water EPC, and other Steel Structural items), and 11% export orders. All export orders pertain to T&amp;D. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Skipper Ltd - Largely Inline Q2, Growth Outlook Intact

<ul><li>Skipper Ltd (Skipper) is India’s largest and the world’s only integrated Transmission &amp; Distribution (T&amp;D) company present across the entire transmission chain.</li><li>The company has its own Structure Rolling, Manufacturing, Tower Load Testing Station, and Transmission Line EPC.</li><li>Its capability to execute high-voltage power transmission projects gives it a distinct competitive edge over peers with a 10-15% market share in the high-voltage transmission segment.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Skipper Ltd (Skipper) is India’s largest and the world’s only integrated Transmission &amp; Distribution (T&amp;D) company present across the entire transmission chain.The company has its own Structure Rolling, Manufacturing, Tower Load Testing Station, and Transmission Line EPC.Its capability to execute high-voltage power transmission projects gives it a distinct competitive edge over peers with a 10-15% market share in the high-voltage transmission segment.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pick of the Week: Skipper Limited - 26th July, 2025

<ul><li>Strong Macro Tailwinds: The 9.15 Tr capex over 2023-2032 as per National Electricity Plan through Public-Private-Partnership agreements and through Power Grid’s own balance sheet strength will continue to drive growth for Skipper’s Engineering division.</li><li>The export market led by the transition towards RE and carbon neutrality offers a broad scope for growth.</li><li>The demand outlook is strong, and it already has a strong bid pipeline of Rs 18,000-20,000 Cr.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Strong Macro Tailwinds: The 9.15 Tr capex over 2023-2032 as per National Electricity Plan through Public-Private-Partnership agreements and through Power Grid’s own balance sheet strength will continue to drive growth for Skipper’s Engineering division.The export market led by the transition towards RE and carbon neutrality offers a broad scope for growth.The demand outlook is strong, and it already has a strong bid pipeline of Rs 18,000-20,000 Cr.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Skipper Ltd - Good Q3 with Macro Tailwinds Intact; Capacity Ramp-Up Remains Key

<ul><li>Skipper Ltd (Skipper) is India’s largest and the world’s only integrated Transmission &amp; Distribution (T&amp;D) company present across the entire transmission chain.</li><li>The company has its own Structure Rolling, Manufacturing, Tower Load Testing Station, and Transmission Line EPC.</li><li>Its capability to execute high-voltage power transmission projects gives it a distinct competitive edge over peers with a 10-15% market share in high voltage transmission segment.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Skipper Ltd (Skipper) is India’s largest and the world’s only integrated Transmission &amp; Distribution (T&amp;D) company present across the entire transmission chain.The company has its own Structure Rolling, Manufacturing, Tower Load Testing Station, and Transmission Line EPC.Its capability to execute high-voltage power transmission projects gives it a distinct competitive edge over peers with a 10-15% market share in high voltage transmission segment.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pick of the Week: Skipper Limited - 13 January 2025

Thematic (Sector/Industry)

<ul><li>Cumulative all-India electricity demand over Apr’25-Jun'25 stood at 446 BU as compared to 452 BU for the same period last year.</li><li>The peak demand was 243 GW for Q1FY26 in Jun’25 (vs. 250 GW during Q1FY25 in May’24), a 3% YoY decline.</li><li>The weakness in electricity demand is led by the early onset of monsoon and less intense summer. y companies under our coverage, led by lower power generation and slower execution.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cumulative all-India electricity demand over Apr’25-Jun'25 stood at 446 BU as compared to 452 BU for the same period last year.The peak demand was 243 GW for Q1FY26 in Jun’25 (vs. 250 GW during Q1FY25 in May’24), a 3% YoY decline.The weakness in electricity demand is led by the early onset of monsoon and less intense summer. y companies under our coverage, led by lower power generation and slower execution.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Q1FY26 Earnings Preview - Power & Ancillaries

India

Skipper Ltd. conducts infrastructure project and steel producing operations. The Company manufactures galvanized, polyvinyl chloride, solid, waste, and rain pipes, fittings, transmission and telecom towers, poles, scaffoldings, and hot rolled products. Skipper also provides horizontal directional drilling, as well as engineering, procurement, and construction services.

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Skipper Ltd (SKIPPER IN)

Skipper Ltd - Largely Inline Q2, Growth Outlook Intact

Skipper received new orders totalling Rs 1,243 Cr in Q2FY26, which included three large wins from PGCIL and key other export markets.

Axis Direct

Pick of the Week: Skipper Limited - 26th July, 2025

Skipper Ltd (Skipper) is India’s largest and the world’s only integrated Transmission & Distribution (T&D) company present across the entire...

Axis Direct

Skipper Ltd - Good Q3 with Macro Tailwinds Intact; Capacity Ramp-Up Remains Key

The export market led by the transition towards RE and carbon neutrality offers a broad scope for growth. The demand outlook is strong, and it...

Axis Direct

Pick of the Week: Skipper Limited - 13 January 2025

Skipper Ltd (Skipper) is India’s largest and the world’s only integrated Transmission & Distribution (T&D) company present across the entire...

Axis Direct

Q1FY26 Earnings Preview - Power & Ancillaries

Cumulative all-India electricity demand over Apr’25-Jun'25 stood at 446 BU as compared to 452 BU for the same period last year. The peak demand was...

Axis Direct

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