Annual Report

9KIPPER -Limited- SKPL/SECT/2026-27/70 Date: 21st 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: Annual Report of the Company for the Financial Year 2025-26 Dear Sir/Madam, In compliance with the provisions of Regulation 34 (1) (a) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are hereby enclosing the Annual Report of the Company for the Financial Year 2025-26. The Annual Report is being dispatched electronically to only those members whose email IDs are registered with the Company/Depositories/ RTA. Further, in compliance with Regulation 36(1)(b) of the SEBI Listing Regulations, a letter containing the weblink of Notice convening the AGM and Integrated Annual Report is also being dispatched to the shareholders whose email IDs are not registered with the Company/Depositories/ RTA. The same will also be available on the website of the Company at www.skipperlimited.com. We request you to take the above on record. Thanking you, Yours faithfully, For Skipper Limited Anu Singh Company Secretary & Compliance Officer Encl: As above SKIPPER LIMITED Regd. Office: 34, Loudon Street, Phone: 033 2289 5731/32 Email: mail@skipperlimited.com CIN L4 0104W81981 PLC033408 1st Floor, Kolkata 700 017 Fa 033 2289 5733 Website: www.skipperlimited.com Great Place $KIPPER Work L4fl(et Certified TRUSTED TRUSTED TO DELIVER TO DELIVER Building the infrastructure that powers progress ANNUAL REPORT 2025-2026 6 00o ENGINEERING INFRASTRUCTURE POLYMER GLOBAL PEOPLE AND Infrastructure PRESENCE PARTNERSHIPS People & Presence Partnership CONTENTS Corporate Overview 2 Introduction to this Annual Report Part 6: How we are positioned to enhance stakeholder value 4 5 principal messages of this Annual Report 56 Value creation 6 The existence of Skipper in one recall 60 How Skipper empowers its stakeholders Part 1: Defining who we are through what we do Part 7: Our Capitals 10 Corporate snapshot 64 Financial Capital 16 Our evolution over the years 66 Manufactured Capital 17 Financial performance over the years 70 Intellectual Capital 18 What we offer 74 Human Capital 20 Our international presence 77 Social and Relationship Capital 22 FY26: A year of highs 82 Natural Capital Part 2: Brand Skipper Part 8: A review of our three business verticals 26 Skipper's competitive advantage 88 Our engineering business Part 3: The Skipper Way 92 Our infrastructure (EPC) business 32 The rationale behind why we are trusted to deliver 97 Our polymer business Part 4: India's evolving power infrastructure Statutory Reports opportunity 36 The global power opportunity 105 Board of Directors 37 India emerging as a global energy transition 108 Management Discussion and Analysis powerhouse 131 Directors’ Report 38 India,s power transmission sector 152 Business Responsibility and Sustainability 39 India's power T&D investments Report Part 5: Our management's prespectives 210 Report on Corporate Governance 43 Chairman and Managing Director’s Financial Statements statement 45 Chief Financial Officer’s review 238 Standalone Financial Statements 50 Chief Operating Officer’s statement 321 Consolidated Financial Statement 53 Vision FY29 About this report This Annual Report of Skipper Limited for FY 2025–26 presents a comprehensive overview of the Company’s financial and non-financial performance, covering the period from April 1, 2025, to March 31, 2026. Disclaimer cautioned not to place undue reliance on forward-looking This document contains statements about expected future statements as several factors could cause assumptions, events and financials of Skipper Limited, which are forward- actual future results and events to differ materially from looking. By their nature, forward-looking statements require those expressed in the forward-looking statements. the Company to make assumptions and are subject to Accordingly, this document is subject to the disclaimer and inherent risks and uncertainties. There is significant risk that qualified in its entirety by the assumptions, qualifications the assumptions, predictions and other forward-looking and risk factors referred to in the Management Discussion statements may not prove to be accurate. Readers are and Analysis of this Annual Report. “FY 2025-26 was the year when Skipper turned scale into performance, performance into confidence and ‘Trusted to Deliver’ from a promise into proof.” Sajan Kumar Bansal Chairman and Managing Director Introduction to this Annual Report TRUSTED TO DELIVER ‘Trusted to Deliver’ is the outcome of choices that Skipper has made consistently over time. In a business where execution effectiveness defines long- term reputation, Skipper chose reliability over convenience and commitment over compromise. In a business where delays increase costs and failure carries consequences beyond the Balance Sheet, trust is not claimed - it needs to be earned, project by project. As the Company evolved from merely manufacturing products to delivering project-based solutions to customers in challenging sectors across the world, the focus shifted: from output to outcomes, guided by a capacity to deliver as promised. The result is that customers now engage with Skipper for a singular reason. A certainty that all commitments will be completely and faithfully delivered. 02 | Skipper Limited Annual Report 2025-26 | 03 --I /8 - {'i4@ 7 � > fl y z.rt id ' PRINCIPAL MESSAGES OF THIS ANNUAL REPORT 04 | Skipper Limited India’s accelerating electrification and energy transition are creating a multi- decade opportunity for transmission infrastructure, positioning Skipper at the centre of a structural growth cycle. In FY26, the Company demonstrated its ability to convert opportunity into performance, delivering record financial results, order inflows, and execution milestones. Skipper is transitioning from a product-led manufacturer to an integrated infrastructure and engineering solutions enterprise possessing end-to-end capabilities. Growing global acceptance, breakthrough North American orders, and expanding export opportunities are strengthening the Company’s international growth platform. Operational excellence, technology adoption, capital discipline, and a culture built around being ‘Trusted to Deliver’ will remain the foundations of sustainable long-term growth. Annual Report 2025-26 | 05 THE EXISTENCE OF SKIPPER IN ONE RECALL. TRUSTED TO DELIVER. 06 | Skipper Limited THE SYSTEM BEHIND THE PROMISE. What India’s infrastructure demands. How Skipper responds. The infrastructure reality The infrastructure reality Projects are getting larger Timelines are getting tighter More stakeholders. More interfaces. A delayed component can delay an More complexity. entire project. Skipper’s response Skipper‘s response Integrated capability Execution discipline Design, engineering, manufacturing, Planning, coordination and delivery testing and execution in one company. accountability across every stage. The infrastructure reality The infrastructure reality The cost of failure is increasing Standards are becoming global Quality gaps can affect cost, Customers expect compliance, continuity and asset performance. traceability and an audit readiness. Skipper’s response Skipper’s response Quality assurance Global credibility Process control, advanced testing International certifications, market and manufacturing precision. experience and proven acceptance. Annual Report 2025-26 | 07 PART DEFINING WHO WE ARE THROUGH WHAT WE DO 08 | Skipper Limited Annual Report 2025-26 | 09 Corporate snapshot SKIPPER LIMITED OPERATES IN THE HIGH- MOMENTUM GLOBAL POWER TRANSMISSION AND NATIONAL WATER MANAGEMENT SECTORS. Skipper enjoys a leadership position in India’s power transmission and distribution infrastructure manufa [Showing first 8,000 characters — download PDF for full document]