Jupiter Wagons Q1 Results: Profit And Revenue Beat Estimates
The Kolkata-based wagon manufacturer reported 46.2% growth in the bottom line at Rs 92 crore in the June quarter.
Jupiter Wagons Ltd. reported a jump in net profit in the first quarter of fiscal 2025, while revenue rose nearly 17%, with both surpassing analysts' estimates.
The Kolkata-based wagon manufacturer reported 46.2% growth in the bottom line at Rs 92 crore in the June quarter, as compared to Rs 63 crore in the same period last year, according to an exchange filing on Thursday. Analysts' estimates compiled by Bloomberg projected it at Rs 43 crore.
Jupiter Wagons' order book, as of June 30, stands at Rs 7,028.3 crore.
Jupiter Wagons Q1 FY25 Results (Consolidated, YoY)
Revenue up 16.8% to Rs 880 crore versus Rs 753 crore (Bloomberg estimate: Rs 705 crore).
Net profit up 46.2% to Rs 92 crore versus Rs 63 crore (Bloomberg estimate: Rs 43 crore).
Ebitda margin at 15.53% versus 12.85%.
Ebitda up 41.2% to Rs 137 crore versus Rs 97 crore.
Machining capacity is being increased to 28,000 wheelsets by the end of the current fiscal, with a gradual increase to 40,000 to 50,000 by next year, the company said in an investor presentation. These wheelsets and axles will initially support JWL’s freight car orders and later be used for exports to Tatravagonka and other international rail players.
The company is in an advanced stage of discussion and contract finalisation, for setting up an integrated forging line for wheels and axles in India to manufacture around 1 lakh wheelsets annually. It is expected to be complete by 2027, the company said.
"We are actively diversifying into sectors such as railway components, commercial vehicles, brake discs, brake systems, and containers," Managing Director Vivek Lohia said, adding that the mainstay wagon business remains crucial, contributing to around 80% of revenue.
The company's recent acquisition of Bonatrans has been highly successful, with revenue increasing fivefold to Rs 74 crore, he said.
Subsidiary Jupiter Electric Mobility Pvt. will initiate commercial production in the third quarter. It has achieved significant milestones in the development and certification of Lithium-Ion Phosphate battery technology for Indian Railways.
Shares of Jupiter Wagons closed 3.07% lower at Rs 626.2 apiece on Thursday, as compared to a 0.14% decline in the benchmark BSE Sensex. The results were announced after market hours.
