Jupiter Wagons Ltd Q1FY25: PAT grows 40% YoY to Rs 8,923 lakh

Total income for the quarter stood at Rs 90,219 lakh, up 19.4% from the same period last year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached Rs 12,886 lakh, marking a 32.4% year-on-year growth.

The company continued to deliver industry-leading margins, with the EBITDA margin improving to 14.4% in Q1FY25 and achieving a consolidated EBITDA margin of 15.5%, despite challenges posed by a two-month general election and peak summer conditions affecting the supply chain of its multi-location plants.

Key Developments in Q1 FY25

Order Book Status: As of June 30, 2024, Jupiter Wagons Limited reported an order book of Rs7,02,834 lakh.

JEM TEZ Approval: Jupiter Electric Mobility Private Limited (JEM), a subsidiary of Jupiter Wagons Limited, received approval from The Automotive Research Association of India (ARAI) for its battery-operated light commercial vehicle, JEM TEZ. This 1-ton commercial EV, the first of its kind in the market, boasts industry-leading fast charging technology.

Production Timeline: Initial commercial production of JEM TEZ is set to commence in Q3 FY25.

Battery Technology Development: JEM, in collaboration with Log9 Materials Private Limited, has made significant progress in developing and certifying Lithium-Ion Phosphate (LFP) battery technology for use in Indian railways.

Successful Fundraising: Jupiter Wagons Limited successfully raised Rs 80,000 lakh through a Qualified Institutional Placement (QIP), attracting substantial interest with total demand reaching approximately Rs 2,80,000 lakh from prominent investors.

Commenting on the results, Vivek Lohia, Managing Director of Jupiter Wagons Ltd. said, "We are excited to report outstanding results for Q1FY25. The company achieved a total income of Rs 90,219 lakh, a 19% increase year-over-year. EBITDA soared to Rs 12,886 lakh, up 32%, with the EBITDA margin improving to 14.4%, from 12.9% in Q1 FY24. PAT reached Rs 8,923 lakh, a 40% rise, and the PAT margin increased to 9.9%. Despite challenges from the general election and peak summer, we maintained a strong consolidated EBITDA margin of 15.5%.

"Our wagon business remains crucial, contributing around 80% of 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 Rs 7,436 lakh, EBITDA rising to Rs 930 lakh, the margin of 12.5%, and PAT reaching Rs 702 lakh turned positive Y-o-Y in Q1FY25.

"Additionally, Jupiter Wagons Limited raised Rs 80,000 lakh through a Qualified Institutional Placement (QIP), with a remarkable demand of approximately Rs 2,80,000 lakh, featuring prominent investors "