Consolidated EBITDA margins rose to 10.1%, up from 9.5% in the same quarter last year.

KOLKATA, India, Oct. 28, 2024 /PRNewswire/ — Skipper Limited (BSE: 538562) (NSE: SKIPPER), is one of the world’s leading manufacturers for Power Transmission & Distribution structures, amongst India’s leading EPC companies for EHV transmission line construction, and a prominent manufacturer of Telecom and Railway structures.  

Consolidated Financials – Q2 & H1 Fy’25 (Rs in Million)

Key Business Highlights 

Highest Ever Closing Order Book: Stands at Rs. 65,900 million, with 85% from domestic markets and 15% from exports.Quarterly Order Inflow: Rs. 16,600 million for engineering products and EPC works.Significant Domestic Contracts: Secured substantial contracts from Power Grid Corporation of India Limited (PGCIL), State Electricity Boards (SEBs), and the North and South American export markets.Year-to-Date Order Inflows: Total Rs. 24,250 million, reflecting strong demand across both domestic and international markets. 

Director Speaks

Commenting on the results, Mr. Sharan Bansal, Director of Skipper Limited, said: “Amidst dynamic market conditions, our performance this quarter has truly showcased Skipper’s strength and resilience. With a remarkable 44% growth in revenue compared to Q2 of the previous fiscal year, we are seeing the positive impact of our focused strategy in the Engineering and Infrastructure segments. Our EBITDA margin has improved to 10.1%, reflecting enhanced operational efficiencies, while our Profit After Tax increased by 67% to Rs. 329 million. These accomplishments underline our commitment to delivering sustained growth and value for our stakeholders.

Our highest-ever closing order book of Rs. 65,900 million, with 85% coming from the domestic market and 15% from exports, reaffirms Skipper as the preferred partner in the Transmission & Distribution sector. With significant domestic contracts from PGCIL and SEBs, alongside expanding footprints in North and South America, we are poised for continued momentum. Our strong order inflow of Rs. 16,600 million during the quarter is a testament to the confidence our clients place in our capabilities.”

Mr. Bansal also added, “Domestic T&D ordering displays promising signs of resurgence, while our consistent growth in international markets remains a core driver of our expansion. We see vast opportunities ahead, fuelled by India’s 500 GW renewable energy integration plan, and we are committed to being at the forefront of this transformative journey. Internationally, we foresee robust demand driven by increased transmission and distribution spending on renewables for the next decade.”

ABOUT SKIPPER LIMITED

Skipper Limited established in 1981 is one of the leading companies in the Power Transmission & Distribution and the Polymer segment. With over 42+ years of domain knowledge it is largest in India and tenth globally basis the manufacturing capacity. Skipper differentiates its offerings with high quality but cost effective solution for infrastructure providers and telecom operators. Its international footprint spans across continents such as Latin America, Europe, and Africa and is spread across 50+ countries with presence across sub-segments such as Towers, EPC, Monopoles, Poles and Railway Electrification Structures. Skipper Limited is a national powerhouse in the Polymer pipe business. Under the brand name of ‘Skipper’, the company manufactures premium quality polymer pipes & fittings, which serve both the agricultural as well as plumbing sectors. Skipper Limited is listed at BSE (538562) and NSE (Symbol: SKIPPER) in 2014 & 2015 respectively.

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The leading generative art platform and the world’s first and largest NFT marketplace partner to accelerate experimentation and innovation in contemporary digital art.

NEW YORK, Oct. 28, 2024 /CNW/ — In advance of the fourth annual Art Blocks Marfa Weekend on November 14-17, 2024, OpenSea is excited to announce a partnership with the renowned generative art platform, Art Blocks.

As part of the partnership, artists can use a new custom Art Blocks Engine contract when releasing on OpenSea. The companies will also collaborate on product development roadmaps, demo new features together, and iterate on other platform upgrades.

“We’re proud to partner with Art Blocks in supporting the creative minds that are innovating in digital art,” said Devin Finzer, CEO of OpenSea.

Through this collaboration, Art Blocks and OpenSea have also created The Art Blocks x OpenSea Artist Residency program. The program will support generative artists by offering them the opportunity to practice their craft in Marfa, the heart of Texas’s creative community, and to draw inspiration from the desert landscape of West Texas. Looking ahead, OpenSea will be sponsoring live events that bring together the industry’s leading artists to exhibit their works and build community, beginning with the Art Blocks Marfa Weekend next month.

This residency program aims to support artists in pursuing their creative endeavors by situating them amongst inspiring cultural and artistic influences, surrounded by fellow artists and creators. During the residency, participating artists will receive accommodations, a stipend, an Art Blocks Studio contract, and a peaceful setting to focus on developing their artwork while being surrounded by the engaging and supportive environment and community of Marfa.

“The landscape of being a participant in this ecosystem continues to evolve, and we evolve with it, exploring how best to serve our community of artists and collectors,” said Erick Calderon, CEO of Art Blocks. “We are grateful for opportunities like this to expand the tools and spaces for artists to continue to push boundaries and broaden the exposure that the generative medium deserves.”

With recent successes like Bokeh by Michael Kozlowski (mpkoz), which marked the return of Art Blocks’ Curated releases and quickly minted out, Art Blocks continues to build strong momentum for future drops. This partnership with OpenSea will amplify that momentum, supporting new opportunities for artists to innovate and reach new audiences.

“The collaboration of artists and NFT platforms is essential to the success of both industries,” said Hugh Heslep, the President and COO of Art Blocks. “We are excited to be working with OpenSea to further solidify this long-standing relationship.”

Further details about the Art Blocks x OpenSea Artist Residency will be announced in November.

About OpenSea

Founded in 2017, OpenSea is the world’s first and largest peer-to-peer marketplace for crypto collectibles and non-fungible tokens (NFTs). OpenSea supports multiple blockchains, with the broadest set of categories for new emerging asset classes, which include digital collectibles, gaming items, and other virtual goods. For more information visit, https://opensea.io.

About Art Blocks

Founded by Erick ‘Snowfro’ Calderon, Art Blocks is a generative art platform in service of bringing the most compelling examples of contemporary generative art to life. Art Blocks unites artists, blockchain technology, and collectors in a destination dedicated to groundbreaking work and remarkable experiences. For more information on Art Blocks, visit https://www.artblocks.io/ or follow X and Instagram.  

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SOURCE OpenSea

URAC accreditation reflects Capital Rx’s commitment to achieving and maintaining the highest quality, member engagement and experience, and operational standards for PBMs in the industry

NEW YORK, Oct. 28, 2024 /PRNewswire/ — Capital Rx, the full-service pharmacy benefit manager (PBM) and pharmacy benefit administrator (PBA) advancing our nation’s electronic healthcare infrastructure, has received full URAC reaccreditation for Pharmacy Benefit Management. This announcement follows on the heels of JUDI®, Capital Rx’s proprietary enterprise health platform, achieving HITRUST i1 Certification for data protection and cybersecurity and the company receiving National Committee for Quality Assurance (NCQA) Accreditation in Utilization Management.

“The URAC Pharmacy Benefit Management accreditation touches every department across the organization and is a testament to the quality of care we provide to our patients and the support we provide our plan sponsors, levering both JUDI and our robust operational and performance management infrastructure,” said Sara Izadi, PharmD, Chief Clinical Officer at Capital Rx. “I am so proud of our entire organization for demonstrating our commitment to upholding the highest standards in the industry and improving patient outcomes by maintaining our accreditation.”

As an aligned, objective administrative partner, Capital Rx does not profit from the distribution of medication to plan members, spread pricing, clawbacks from retail pharmacies, or other traditional PBM tactics that are under intense regulatory scrutiny. Rather, launching an unbundled pharmacy benefit solution that includes core claim adjudication and contact center services, Never Move Again™, demonstrates an understanding of the pressure employer plan sponsors face to establish processes to evaluate plan costs and meet their fiduciary obligations.

In addition to earning accreditations or certifications from URAC, NCQA, and HITRUST, Capital Rx has voluntarily earned B Corp™ Certification, follows the NIST SP 800-53 cybersecurity standard, and AICPA SOC 1 Type 2 and SOC 2 Type 2 Reports are available. At a time when satisfaction with traditional PBMs is at the lowest level in a decade,1 Capital Rx will continue to raise the bar for transparency in the PBM industry and rebuild trust in healthcare.

“The URAC accreditation seal shows an organization’s commitment to meeting the highest quality standards in health care in the areas of risk management, consumer protection and empowerment, operations and infrastructure, patient service and communication, as well as performance management and improvement. We are proud to recognize Capital Rx for their achievement in these areas,” said URAC President and CEO Shawn Griffin, MD.

To learn more about URAC”s stringent standards and evaluation process for PBMs, please visit https://www.urac.org/accreditation-cert/pharmacy-benefit-management-accreditation/.

To learn more about Capital Rx’s suite of administrative solutions, please visit http://www.capitalrx.com/.

About URAC
Founded in 1990 as a non-profit organization, URAC is the independent leader in promoting health care quality and patient safety through renowned accreditation programs. URAC develops its evidence-based standards in collaboration with a wide array of stakeholders and industry experts. The company’s portfolio of accreditation and certification programs span the health care industry, addressing health care management and operations, pharmacies, telehealth, health plans, medical practices and more. URAC accreditation is a symbol of excellence for organizations to showcase their validated commitment to quality and accountability.

About Capital Rx
Capital Rx is a full-service pharmacy benefit manager (PBM) and pharmacy benefit administrator (PBA), advancing our nation’s electronic healthcare infrastructure to improve drug price visibility and patient outcomes. As a Certified B Corp™, Capital Rx is executing its mission through the deployment of JUDI®, the company’s cloud-native enterprise health platform, and a Single-Ledger Model™, which increases visibility and reduces variability in drug prices. JUDI connects every aspect of the pharmacy ecosystem in one efficient, scalable platform, servicing millions of members for Medicare, Medicaid, and commercial plans. Together with its clients, Capital Rx is reimagining the administration of pharmacy benefits and rebuilding trust in healthcare. To learn more, visit www.capitalrx.com.

Media Contacts
Michael Passanante, SVP, Marketing & Communications
Justin Venneri, Director, Communications
marketing@cap-rx.com

References
1 Pharmaceutical Strategies Group. 2024 Pharmacy Benefit Manager Customer Satisfaction Report. Dallas, TX: PSG. Available from www.psgconsults.com/research 

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SOURCE Capital Rx