Jupiter Wagons reports 19% rise in its Q1FY25 revenue, profit jumps 40%

Earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 32.4% YoY to ₹128.86 crore while EBITDA margin rose 150 basis points (bps) to 14.4% during the quarter. Net profit jumped 40.3% to ₹89.23 crore while profit margin improved by 150 bps to 9.9%.

The company’s order book as of June 30, 2024 stood at ₹7,028.34 crore. During the quarter, Jupiter Electric Mobility (JEM), a subsidiary of Jupiter Wagons, received approval from The Automotive Research Association of India (ARAI) for its battery operated light commercial vehicle, JEM TEZ. The firm pointed out that this one-ton commercial electric vehicle (EV), the first of its kind in the market, features industry-leading fast charging technology.

The company said that JEM will start initial commercial production in the third quarter of FY25.

Meanwhile, Jupiter Wagons managed to raise ₹800 crore through a qualified institutional placement (QIP) during the quarter. The company said it received an overwhelming response with total demand reaching approximately ₹2,800 crore featuring prominent investors.

Vivek Lohia, Managing Director of Jupiter Wagons said that the firm’s wagon business remains crucial, contributing nearly 80% to its revenue. “We are actively diversifying into sectors such as railway components, commercial vehicles, brake discs, brake systems, and containers. Our recent acquisition of Bonatrans has been highly successful, with revenue increasing five-fold to ₹74.36 crore, EBITDA rising to ₹9.30 crore, a margin of 12.5%, and PAT reaching ₹7.02 crore,” he said.

Jupiter Wagons (JWL) provides mobility solutions, with diverse offerings across freight wagons, locomotives, passenger coaches (LHB), metro coach, commercial vehicles, ISO marine containers, and products such as couplers, draft gears, bogies, CMS crossings, brake disc, brake system, wheels, axles and wheel sets. The company has manufacturing facilities located in Kolkata, Jamshedpur, Indore, Jabalpur and Aurangabad with full backward integration to its foundry operations.

Shares of the firm have risen over 93% since the beginning of the year. The stock has gained nearly 170% in the last one year.