Skipper Ltd Witnesses 5.14% Surge After Stellar Q2 Performance

Shares of Skipper Ltd, a small-cap manufacturing company, saw a substantial uptick of nearly 5 percent following the announcement of its robust Q2FY24 results, which showcased an impressive 560 percent increase in profits. With a market capitalization of Rs. 2,353.71 crores, Skipper Ltd’s shares were trading at Rs. 237.40 per share at 11:45 on November 8, marking a 5.14 percent surge from the previous closing price of Rs. 225.80 per share. Notably, the stock has delivered exceptional returns, registering a multibagger growth of 234.04 percent in the last year.

This significant boost in the stock price came on the heels of Skipper Ltd’s Q2FY24 results, where the company reported a remarkable 67.2 percent growth in revenue, reaching Rs. 772 crores compared to Rs. 462 crores in Q2FY23. Moreover, the company’s profit surged by 417.4 percent to Rs. 28.5 crores from Rs. 5.2 crores in the same quarter last fiscal. During this period, the company’s margins increased by 90 basis points to 9.5 percent.

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Analyzing the profitability ratios, Skipper Ltd showcased a return on equity (ROE) of 4.74 percent and a return on capital employed (ROCE) of 12.14 percent in the last financial year.

In terms of ownership, the company’s promoters hold approximately 71.89 percent of the shares, while the public owns 19.87 percent. Foreign institutional investors (FIIs) account for about 8.09 percent, leaving the remaining 0.15 percent shares with domestic institutional investors (DIIs). As of 2:50 pm, the shares continued to trade strongly, reflecting the market’s positive response to the company’s stellar performance.