Jupiter Wagons QIP floor price set at ₹689.47 stock trades lower

Last month, Jupiter Wagons announced that its subsidiary, Jupiter Electric Mobility, in partnership with Log9 Materials had achieved significant milestones in battery technology for the Indian Railways.

The company reported that it was the first company to receive Research Designs and Standards Organisation (RDSO) Certification for Non-AC coaches following a six-month trial of its 11.2 kWh Lithium-Ion Phosphate (LFP) battery pack. Additionally, the company won a contract from Siemens to supply auxiliary batteries for 9 Vande Bharat trainsets and received technical qualification from BHEL for the use of the 72.8 kWh LFP battery pack in Vande Bharat trains.

In the fourth quarter of the financial year ended March 31, 2024, Jupiter Wagons’ net profit surged 166.8% year-on-year (YoY) to ₹104.6 crore. The company’s consolidated revenue for the quarter was up 56.7% YoY to ₹1,115 crore. During the quarter, the company saw its earnings before interest, taxes, depreciation, and amortisation (EBITDA) for came in higher by 59.8% YoY to ₹147.3 crore.

The EBITDA margin during Q4 expanded by 25 basis points (bps) YoY to 13.2% while the net profit margin expanded by 387 bps YoY to 9.4%.

In FY24, Jupiter Wagon’s net profit was up 174.23% YoY to ₹331 crore while the consolidated revenue saw an uptick of 76.11% YoY to ₹3,643 crore. The company’s EBITDA during the year was up 94.08% to ₹489.03 crore.

The EBITDA margin for the year expanded to 13.43% compared to 12.19% in the previous year. Meanwhile, the net profit margin expanded to 9.08% from last year’s 5.83%.

Shares of the company have risen by nearly 118% since the beginning of the year. The stock has gained over 304% in the last one year.