Message from MD

Welcome to our website everyone.

We have successfully and profitably grown our business by focusing on the two most critical ingredients for human survival and progress. Power and Water. These two resources touch almost all spheres of human life; and in a developing society like India with a billion-plus population the ability to provide adequate power and water to a large proportion of the population will determine the nation's socio-economic wellbeing for the long term.

The Indian Economy

The estimated growth rate of our country's GDP during the 2020-21 FY was estimated to be at -8 percent. Last year 2019-20 the growth rate was at 4.0%. Nominal GDP in FY 2021 is capped at 195.86 trillion as compared to the 203.51 trillion in the previous year which shows a contraction of 3.8%. Most sectors such as Transportation, Construction, Manufacturing, Hotels, Broadcasting are expected to face a downward slope in growth. This decline was triggered by a 'once in a century' effect of the pandemic. The effects of this are feared to extend to the entire economy.The result was an economic paralysis within the country during a major part of the financial year underreview. As consumer sentiment was progressively affected, there was a decline the offtake of automobiles and otherhigh-ticket products. There was a related trickle-down in impact across other sectors as well, pulling down the national growth average.The country saw one ofthe lowest reported economy in a number of quarters and comparable to the post-demonetisation phase. Although sectors like Agriculture, Forest, Fisheries and Water supply, Gas, Electricity is projected to make a positive growth in this year with 3.4 and 2.7% respectively.

Sectoral Background

The global energy demand is expected to contract by 5% in 2020 owing to the COVID-19 crisis. Additionally, the efforts of clean energy transitions have also slowed down as there is a decline in energy investments by 18% in CY 2020. India's electricity demand is poised to register a 6.0% YoY growth for FY2022 as per the ICRA ratings. This will be the result of relatively lesser impact of the second wave of the pandemic on the electricity sector and the growing pace of the vaccination programme in the country. ICRA expects the country's power generation capacity addition to rebound to 17-18 GW in this year, increasing by 45% YoY from the 12.8 GW in FY 2020-21, this growth is mainly led by the renewable energy segment backed by a strong pipeline of 38 GW projects under development. The renewable energy segment would top the capacity addition charts in the coming five years with more than a share of 60%.

Skipper's Repositioning

At Skipper, we repositioned our business with speed during the financial year under review with the objective to remain relevant and competitive. During FY21, Skipper functioned at 75% of its manufacturing capacity, post phase wise resumption of work. Detailed SOPs / protocols have also been devised in compliance with the instructions/ guidelines issued by the Government. The Company strengthened its customer focus through the reinforcement of a service-driven mind-set and higher service benchmarks. The result was a greater propensity to manufacture complete product batches, as opposed to the largest volume of the highest selling products, and a greater focus on providing complete solutions to customers. The Company graduated from being dependable vendor to a trusted partner through the anytime-any quantity and anywhere product delivery, helping customers enhance their working capital efficiency. The Company repositioned itself as a one-stop and broad-based engineering solutions provider through the manufacture of towers, fasteners and monopoles, coupled with in-house testing facilities, widening the value chain on the one hand and strengthening its unique global positioning on the other. The Company replenished its revenues by seeding new products like monopoles and railway structures, which would account for a larger proportion of prospective revenues. The Company responded to the prevailing environment through the implementation of the Theory of Constraints concept in its PVC business and also expanded their product portfolio with introducing the all new Bath fitting segment. To stay above the effects of the pandemic on different sectors and industries, Skipper focused on value added products mix and honoured all commitment made towards its consumers. The Company protected its financial foundation by staying relatively under-borrowed, where a moderated working capital outlay will enhance competitiveness. The Company widened its global footprint through a growing presence in focused markets with increasing potential. The Company strengthened its business sustainability through a stronger compliance with global and Indian regulatory and quality benchmarks.

Outlook

Skipper has actively resumed the manufacturing process. To kick-start the deliveries, the Company with its key associates have chalked out extensive catch-up plans for various locations and work fronts to ensure timely completion and avoid any slippages.At Skipper, we believe that our repositioning should translate into a stronger competitiveness. Even as we account for a sizable share of the Indian market, there is a growing focus on carving out a larger share of the customer's wallet and extend into contiguous spaces. Even as we are a preferred choice among customers, we seek to graduate to become a must work with partner. Even as we remain profitable, there is a movement towards enhanced profitability and sustainability across market cycles. Even as the focus is on remaining viable, there is a greater focus on creating a larger business with fewer resources (working capital). Even as we are one of the most respected players in our niche the world over, there is a movement to strengthen our compliance with a wider range of global accreditations facilitating our entry into more markets. Even as we strive towards continuous growth, we will protect our profitability and strengthen our projects bidding, product mix and trade terms.