Transcript of Investor/Analyst Meet

SKPL/SECT/2026-27/67 Dated: 18th August, 2026 The Manager The Manager National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor, Phiroze Jeejeebhoy Towers, Dalal Street Plot No. C-1, Block-G Mumbai- 400 001 Bandra Kurla Complex, Bandra (E) Scrip Code- 538562 Mumbai- 400 051 Symbol- SKIPPER Subject: Transcript of the conference call on Unaudited Financial Results for the Quarter ended 30th June, 2026 Dear Sir, In accordance with Regulation 30 read with Schedule III of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, we are forwarding herewith the transcript of the conference call with Investors and analysts held on 12th August, 2026, on Unaudited Financial Results of the Company for quarter ended 30th June, 2026. We request you to kindly take the aforesaid information on record. Thanking you, Yours faithfully, For Skipper Limited Anu Singh Company Secretary & Compliance Officer Encl: As above “Skipper Limited Q1 FY27 Earnings Conference Call” August 12, 2026 MANAGEMENT: MR. SHARAN BANSAL – DIRECTOR – SKIPPER LIMITED MR. SHIV SHANKAR GUPTA – CFO – SKIPPER LIMITED MR. ADITYA DUJARI – AVP, FINANCE AND INVESTOR RELATIONS – SKIPPER LIMITED MODERATOR: MR. NAVIN SAHADEO – ICICI SECURITIES Page 1 of 14 Skipper Limited August 12, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Skipper Limited Q1 FY27 Earnings Conference Call hosted by ICICI Securities Limited. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Navin Sahadeo. Thank you, and over to you, sir. Navin Sahadeo: Thank you, Anushka. Good evening, everyone. On behalf of ICICI Securities, I welcome you all to the Q1 FY27 Earnings Call of Skipper Limited. From the company, we have with us Mr. Sharan Bansal, Director; Mr. Shiv Shankar Gupta, CFO; and Mr. Aditya Dujari, EVP, Finance and Head, Investor Relations. So without any further ado, I hand over the call to the management for their opening comments. Over to you, sir. Sharan Bansal: Yes. Good afternoon, everyone, and thank you for joining us today. Before we proceed, I would like to draw your attention to the fact that certain statements made during the call may be forward-looking in nature and should be considered in conjunction with the risks and uncertainties associated with our industry and business. We are pleased to report another quarter of resilient execution despite a challenging external environment. We ended last year with a lower-than-expected order inflow due to subdued domestic bidding and various geopolitical and tariff-related uncertainties in various -- in a lot of our export markets. During the quarter, geopolitical developments temporarily impacted export dispatches and revenue recognition. However, the strength of our domestic business, disciplined project execution and continued focus on operational excellence enabled us to deliver our highest ever first quarter revenue while further improving profitability across every metrics. For the quarter, revenue grew 4.5% year-on-year to a record INR1,310 crores. More importantly, EBITDA increased 10% to INR140 crores with margins expanding by 60 basis points to 10.7%. PBT grew 27%, while PAT increased 26% to INR56.5 crores, reflecting the benefits of improved operational leverage, a better project mix and continued cost optimization. Finance costs reduced to 33.6% of revenue from 4.2% last year, further strengthening earnings quality. Beyond financial performance, this quarter marked an important milestone in strengthening our balance sheet. We successfully completed a INR433.5 crores preferential equity raise from marquee global and domestic long-only institutional investors, substantially enhancing our financial flexibility. This was followed by CRISIL upgrading our long-term credit rating to A+ stable in July, validating our stronger financial profile, prudent capital allocation and consistent operating Page 2 of 14 Skipper Limited August 12, 2026 performance. Together, these developments are expected to lower our cost of capital and support our next phase of growth. Operationally, business momentum remained robust as we continue to build on our leadership position in the transmission infrastructure sector. We closed the quarter with our highest ever unexecuted order book of over INR9,200 crores, representing healthy growth over March '26 and providing strong multiyear revenue visibility. During the quarter, we secured fresh order inflows of approximately INR1,674 crores, while our bidding pipeline expanded to an all-time high level of INR35,000 crores, supported by robust domestic transmission investment and improving opportunities across international markets. We secured two 765 kV projects from a reputed developer in the state of Maharashtra and successfully completed qualification audits and from developed market customers, including U.S.A., Finland and Australia, while strengthening our international presence with establishment of subsidiaries in Brazil and UAE. The U.S.A. entity is also expected to become operational shortly. Further, the ongoing 75,000 ton capacity expansion is expected to become operational during the second half of the year, taking our total manufacturing capacity to 450,000 tons per annum, further strengthening our position as the largest power T&D structure manufacturer in the country. Looking ahead, we expect FY27 to be H2 weighted. As export logistics normalized, capacity utilization improved and recently secured orders move into execution, we expect stronger growth momentum during the second half. Our focus remains on improving project mix, driving operational efficiencies, expanding exports, strengthening return ratios and maintaining a disciplined balance sheet. The long-term outlook for the power transmission sector remains exceptionally strong. Accelerated investments in renewable energy integration, HVDC corridors, interstate transmission infrastructure and rising electrification across both and global markets continue to create significant opportunities. With our strengthened balance sheet, expanded manufacturing footprint, healthy order pipeline and improving profitability, we believe Skipper is well positioned to deliver sustainable growth and create long-term value for all stakeholders. Thank you, and I look forward to your questions. Moderator: Thank you very much. We will now begin the question-and-answer session. The first question is from the line of Aditya Welekar from Axis Securities. Aditya Welekar: Congrats for the decent set of numbers. So my question is with respect to ordering and awarding. So are we seeing any pickup in ordering activity -- means as compared to last year in FY26, we have seen some slowdown. So is the ordering environment improving? Any color on that? Page 3 of 14 Skipper Limited August 12, 2026 Sharan Bansal: Yes. Thank you for the question. And definitely, the ordering has certainly picked up in this financial year. We have seen a number of bids getting finalized. And we believe that those order inflows will start translating from quarter 2 itself. We have seen -- we are expecting bids of close to INR90,000 crores to INR1 lakh crores of bids in the Indian transmission market in this financial year. And also on terms of the export side, we are seeing good traction coming from a number of markets, including our focus areas, which is the developed markets of U.S.A. and Australia. So these markets also, we are seeing very good positive development. So we definitely do expect FY27 to be much better compared to FY26 in overall ordering. Aditya Welekar: Understood. And just to get a broader perspective on the sector in general means [Showing first 8,000 characters — download PDF for full document]