Jupiter Wagons Ltd

Financial Performance

• Consolidated revenue from operations up 46% YoY; absolute value not disclosed.
• EBITDA ₹65 crore; up 9% YoY.
• PAT ₹26 crore; PAT margin 4%.

Orders and Projects

• Fresh orders ₹264 crore from JSW Rail Logistics and Central Warehousing.
• Additional orders ₹211 crore from JSW Port Logistics and Orissa Alloy.
• Rail-wheel platform ownership raised to 100%.
• Completed remaining 1.94% stake in Jupiter Tatravagonka Railwheel.
• Lucchini RS + SIMEST to acquire 25% in JTRWF; INR290 crore infusion.
• Stone India freight brake approval; production from July 2026; ramp to profitability by Q3.
• Jupiter Electric Mobility EBITDA positive from FY28; ramp in core orders.
• Wheelline strengthened; 80% private wagons share in order book.
• Q1 FY27 wagon production 1,141 units; Q4 was 1,347 units.
• Odisha plant: axle line commissioned FY27; wheel line by FY28.
• West Bengal 100 MW and 400 MW BESS projects; 15-year BOO; ~INR400 crore supply.
• BESS order book now ~500 MW; value > INR500 crore.
• Target BESS order book INR1,000 crore by FY27.

Capacity and Capex

• Wheelset capacity: 100,000 wheelsets.
• Wheelset project capex: INR2,600 crore; Jupiter infusion reduced to INR600 crore; new investor ~INR300 crore.
• Odisha capex: majority of spends by Q1 next year; equity infusion by Lucchini SIMEST expected mid next month.

Outlook and Guidance

• Odisha revenue target from facility: INR2,500-3,000 crore; EBITDA target ~15% for axle-wheel business.
• Odisha axle commissioning FY27; wheel commissioning FY28.
• Railways targets not reduced; new order books expected soon.
• JTRWF stake: Lucchini SIMEST acquire 25% with INR290 crore infusion.

Q&A Highlights

• Order-book composition: wagon ~₹3,000 crore; wheelset ~₹700 crore; BESS ~₹500 crore.
• Wagon private-order focus caused Q1 dip; next 3 quarters expected improvement.
• Odisha plant partial production by FY27 end; full commissioning FY28; revenue target and margins tied to ramp.
• Stone India profitability timeline: ramp to positive EBITDA from Q3; 15%+ EBITDA target from FY28.
• Wheelset capacity and export potential: 100,000 capacity; domestic focus with export upside.

Meeting Details

• Date: August 18, 2026; exact time not disclosed.
• Type: investor/analyst call; Mode: audio recording.
• Event: Analysts/Investors Call; organiser not explicitly named.
• Key participants: company management roles not disclosed.
• Purpose: discuss Q1 FY2027 unaudited results (standalone and consolidated).
• Recording will be available; link provided in filing.

Meeting Details

• Date and time: Thursday, August 20, 2026 at 10:00 AM.
• Meeting type: Group meeting.
• Mode: Physical.
• Organizer: Kotak Manufacturing Forum 2026.

Participants

• Key company participants: senior management will attend.

Purpose

• Discuss Q1 FY27 investor presentation.
• Focus on general investor interaction.

Additional Notes

• Q1 FY27 investor presentation is available on the company's website.

Business Overview

• Core business: railway wagons and related components with energy storage via JEM.
• Diversified across rail products, private/public customers, and expanding modular BESS offerings.
• Portfolio includes manufacturing of wagons, load bodies, brake discs and track materials.

Key Operational Highlights

• Order book as of 30 June 2026 stood at ₹4,550 crore.
• New orders ₹264 crore from JSW South Rail Logistics and CWC.
• New orders ₹211 crore from JSW Port Logistics and Orissa Alloy Steel.
• JTRWF became wholly owned after acquiring the remaining 1.94% stake.
• Strategic partnership with Lucchini RS for railwheel platform; 25% stake via ₹290 crore.

Financial Performance

• Consolidated revenue ₹670.7 crore; PAT ₹26.2 crore; EBITDA ₹64.9 crore.
• Standalone revenue ₹618.7 crore; PAT ₹38.0 crore; EBITDA ₹65.7 crore.
• Consolidated EBITDA margin 9.7%; Standalone margin 10.6%.
• Q-o-Q revenue down 13.9%; YoY revenue up 42.8%.

Strategic Priorities & Outlook

• Expand manufacturing footprint and backward integration.
• Deepen technology partnerships and diversified mobility/energy solutions.
• Capitalize on India's railway investment and energy transition opportunities.

Risks & Governance

• Forward-looking statements subject to macroeconomic, regulatory, and market risks.
• Independent Directors appointed to strengthen governance and oversight.

Issue Overview

• Type of issue: QIP of equity shares.
• Net proceeds unchanged; no undersubscription reported.
• Objectives: capex, working capital, inorganic growth, and general corporate purposes.

Utilisation of Proceeds

• Utilisation largely as disclosed; no material deviations.
• Capex object delayed; revised by shareholder approval dated 18 April 2025.
• Working capital and inorganic growth/general corporate purposes fully utilised.
• Unutilised proceeds invested in SBI Mutual Fund; NAV end-quarter 56.05.
• Interest income on deployment: 1.36 Cr.
• Total utilisation through quarter: 350.54 Cr; unutilised: 43.64 Cr.

Governance and Compliance

• Statutory approvals obtained for the objects.
• Capex revision approved; shareholder approval dated 18 Apr 2025.
• There is significant delay in utilisation of issue proceeds.
• No other material events or disputes disclosed.

GCP

• GCP object: funding inorganic growth and general corporate purposes.
• Utilised for inorganic growth and general corporate purposes: 129.18 Cr.
• Board approval for allocation not explicitly recorded.

Deviation and utilisation summary

• Mode of fund raising: QIP of equity shares.
• Date raised: 4 Dec 2023; amount raised: Rs 403.41 Cr; net proceeds: Rs 394.18 Cr.
• Original object: set up a new captive alloy steel foundry at Jabalpur.
• Modified object: capacity expansion of existing Bandel foundry.
• Shareholder approval: obtained on 18 Apr 2025.
• Explanation: unutilised funds to be used for Bandel expansion.
• Monitoring agency: Care Ratings Limited.
• Deviation approved by shareholders; date: 18 Apr 2025.
• Audit Committee: None; Auditor: None.
• Funds utilised to date: Rs 350.54 Cr; unutilised: Rs 43.64 Cr.
• Status: Partly utilised; remaining funds to be deployed per approved plan.

Standalone financials

• Standalone revenue from operations: ₹61,868.85 lakh; total income ₹62,697.53 lakh.
• Standalone PBT ₹5,143.44 lakh; PAT ₹3,803.06 lakh; EPS Basic/Diluted ₹0.89.
• Quarter ended 30 June 2026 results are unaudited.

Consolidated financials

• Consolidated revenue from operations: ₹67,073.54 lakh; total income ₹67,988.09 lakh.
• Consolidated PBT ₹3,867.64 lakh; PAT ₹2,618.50 lakh; EPS Basic/Diluted ₹0.66.
• Consolidated: exceptional item ₹(741.92) lakh and JV impact.

Board actions & corporate actions

• Board approved standalone and consolidated unaudited financial results.
• Re-appointment of Madhuchhanda Chatterjee and Avinash Gupta as independent directors for second five-year terms from 30 May 2027.
• Re-appointment of Vivek Lohia (MD) and Vikash Lohia (Deputy MD) for five years from 30 May 2027.
• Alteration of MOA and adoption of new AOA; modification to QIP object.

Meeting Details

• Date and time: Tuesday, 18 August 2026, 12:00 p.m. IST.
• Type: Group meet with Analysts/Investors for Q1 FY27 results.
• Mode: Audio conference call.
• Organizer: Systematix Institutional Equities.

Participants

• Roles represented by company management: Managing Director, Chief Financial Officer, Vice President.

Purpose

• Purpose: earnings results discussion for Q1 FY27.

Additional Notes

• Call invite details enclosed; information to be disclosed on Jupiter Wagons' investor site.

Meeting Details

• Board meeting on Friday, 14 August 2026, via video conference.

Key Agenda Items

• Consider and approve unaudited standalone and consolidated financial results for quarter ended 30 June 2026, with auditors' report.

Other Notes

• Trading window closed for designated persons from 1 July 2026; reopens 48 hours after results declaration.