Skipper, which opened today at Rs.43.80 from yesterday’s close of Rs.39.30, within minutes hit its 20% UC of the day at Rs.47.15 where it currently stays locked. Over 43k pending buy orders remained on the counter.
The market is enthused with its Q4FY20 earnings wherein it posted a 58% (YoY) jump in net profit at Rs.28 crore though rise in revenue was almost flat, up 1.5% at Rs.439 crore.
The company infact had a loss before tax at Rs.1.30 crore and it was the write back of deferred tax of Rs.24 crore and MAT credit of Rs.4 crore which helped it end the quarter with a net profit.
The closing Order book as on March 31st 2020 is valued to be Rs. 2011 crore, which constitutes of 30% exports and 70% domestics orders. The company has a bidding pipeline of Rs.5150 crore and expects a substantial rise in the volume of international orders in the current fiscal. Management expects the International business share in order book to rise to 50% in next 2 years and it is probably these forward looking statements from the management which led to the stock hitting the roof today.