Hold Skipper; target of Rs 287: Sharekhan

Sharekhan's research report on Skipper

Skipper reported better than expected topline growth of 32% YoY to Rs519crore in Q2FY18 due to healthy execution in the engineering segment. Its engineering segment grew by 28% YoY driven by both volume and healthy realisation due to rising commodity prices. However, the infrastructure segment and PVC segment showed poor performance during Q2FY2018. Continued concerns related to GST led to a decline in polymer business by 7% YoY to  Rs43  crores.

Outlook

Revenue  guidance  revised upwards; retain  hold  with  revised  PT  of  Rs  280:Management has revised its volume guidance for engineering products  business  to  20%  from  15%  earlier For all recommendations report, click here

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