Skipper Limited announces dividend of Rs.1.30 per equity share for FY 2014-15 to its shareholders at the company's 34th Annual General Meeting

Chandigarh, September 23, 2015: Skipper Limited, one of the market leaders in the PVC Pipe business for Eastern India and one of India's top three manufacturers of transmission towers, tubular poles, monopoles in India, having a nameplate capacity of over 175,000 MTPA, and a market capitalization of around INR 1,500 crores, recommended a dividend of Rs. 1.30 per equity share for its shareholders today at the 34th Annual General Meeting of the company. The members of the Company also discussed on their plans to set up their PVC pipe manufacturing facility at Sikandarabad near NCR, Telangana and North East to enhance the capacity in the PVC segment to 40,000 tonnes. The meeting was attended by the Board of Directors of Skipper Limited, Mr. Sajan Kumar Bansal, Managing Director, Skipper Limited and Directors of Skipper Limited, Mr. Sharan Bansal, Mr. Devesh Bansal and Mr. Siddharth Bansal, besides the company's shareholders.

PROPOSAL ON THE PAYMENT OF DIVIDEND

Riding high on the growth trajectory of the Company and the support by investors and shareholders, at the Annual General Meeting, the shareholders of the company declared a dividend of 130%, INR 1.30 per equity share (face value Re.1/-each) for the fiscal year 2014-15.

SPOKESPERSON SPEAK

Mr. Sharan Bansal, Director, Skipper Limited, "Skipper Limited has consistently outperformed the industry growth over the last few years and emerged as one of the fastest growing transmission tower and PVC pipe manufacturers of India. The PVC business of the Company is experiencing a phenomenal 100% growth and after having captured a significant share in the Eastern market, we have already set up a dedicated manufacturing unit in Ahmedabad, which is catering to the demands from the western market. We are now focusing on three more units at Sikandarabad in NCR, Hyderabad in Telangana and Guwahati in North East. All of these units will contribute about 18,000 MT which will take the current installed capacity to 40,000 MT."

Mr. Devesh Bansal, Director, Skipper Limited, stated, "Skipper is noted for its offering in value for money products category and large diverse vendor base creating a benchmark in one of the industry's most superior quality products PVC pipes at cost effective levels. With the three new plants our intention will be to address the requirement of customer proximity of offering most superior quality of PVC pipes. We thank the stakeholders for the confidence they have bestowed upon us and hope they will show similar kind of support for future as well."

ABOUT SKIPPER LIMITED

Skipper Limited is one of the leading companies in the Power T&D space with a large portfolio of manufacturing Transmission Towers, Poles, Fasteners and Monopoles. Apart from having a substantial market share in the Indian T&D Space, the company has also expanded its presence in International markets and has market presence across Latin America, Europe, Africa and Middle East. The company has been recently recognized as one of the fastest growing Transmission Tower companies in India on various forums.

The company is also a regional powerhouse in the PVC Pipe business for eastern India and is currently on a nationwide expansion mode with new facilities being created pan India. Under the brand name of "Skipper", the company manufactures premium quality PVC Pipes which serve both the Agricultural as well as Plumbing sectors.

The performance and sustained growth of Skipper Limited over the last few years is a testimony of the strong foundation that the company has been built upon. Skipper Limited is listed at BSE (538562) and NSE (Symbol: Skipper) with a market capitalization of over INR 1,660crore.

Originally Source : Perfect Relations