Industrial Manufacturing
Jupiter Wagons Limited manufactures and sells railway wagons, wagon components, and railway transportation equipment in India and internationally. It offers open, covered, flat, hopper, container, and special purpose wagons; and wagon accessories, such as alloy steel cast bogies, high tensile center buffer couplers, and high-capacity draft gears. The company also provides passenger and metro coaches, and train sets; and passenger coach accessories, including fabricated bogies, couplers and draft gears for passenger trains, axle mounted disc brake systems, brake discs and split brake discs, and brake pads. In addition, it offers track solutions, such as CMS crossings and weldable CMS crossings on PSC slipper; commercial vehicles; commercial electric vehicles; and containers, such as marine, refrigerated, and truck mounted containers, as well as cold chain transport solution. Further, the company engages in letting out of property; and manufacturing of electrical equipment, as well as provides drone delivery services. The company serves railway engineering company, the Indian Railway, private wagon aggregators, commercial vehicles OEMs, Indian defence and logistics companies. The company was formerly known as Commercial Engineers & Body Builders Co Limited and changed its name to Jupiter Wagons Limited in May 2022. Jupiter Wagons Limited was incorporated in 1979 and is based in Kolkata, India.
Valuation | |
---|---|
Market Cap | 15.55 kCr |
Price/Earnings (Trailing) | 40.66 |
Price/Sales (Trailing) | 3.81 |
EV/EBITDA | 25.23 |
Price/Free Cashflow | -129.69 |
MarketCap/EBT | 30.17 |
Fundamentals | |
---|---|
Revenue (TTM) | 4.08 kCr |
Rev. Growth (Yr) | 15.97% |
Rev. Growth (Qtr) | 2.54% |
Earnings (TTM) | 382.31 Cr |
Earnings Growth (Yr) | 18.38% |
Earnings Growth (Qtr) | 7.91% |
Profitability | |
---|---|
Operating Margin | 12.63% |
EBT Margin | 12.63% |
Return on Equity | 14.87% |
Return on Assets | 9.69% |
Free Cashflow Yield | -0.77% |
Technicals: Bullish SharesGuru indicator.
Smart Money: Smart money has been increasing their position in the stock.
Growth: Good revenue growth. With NA% growth over past three years, the company is going strong.
Size: Market Cap wise it is among the top 20% companies of india.
Balance Sheet: Strong Balance Sheet.
Profitability: Recent profitability of 9% is a good sign.
Momentum: Stock has a weak negative price momentum.
Dilution: Company has a tendency to dilute it's stock investors.
Comprehensive comparison against sector averages
JWL metrics compared to Industrial
Category | JWL | Industrial |
---|---|---|
PE | 41.71 | 32.83 |
PS | 3.91 | 4.70 |
Growth | 25.3 % | 8.8 % |
JWL vs Industrial (2021 - 2025)
Summary of JUPITER WAGONS's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Last updated: Feb 25
Management Outlook and Major Points:
Sector Outlook: Anticipates transformative growth driven by the 2025-2026 Union Budget, with railway capex expected to exceed Rs.3 lakh crore (15-20% YoY increase). Focus on infrastructure modernization, Vande Sleeper trains, and procurement of locomotives, coaches, and wagons.
Operational & Financial Performance:
Strategic Initiatives:
Growth Targets:
Risk Mitigation: Balanced order mix (railway/private) and execution pipeline (9,000"“10,000 wagons annually).
Capital Planning: Rs.3,000 crore QIP approval (enabling resolution) for post-budget opportunities; no immediate fundraising.
Key Focus: Innovation (e.g., auto wagon for SUVs), sustainability, and market leadership in rail/components and electric mobility.
Last updated: Feb 25
Question 1: What will the Rs. 3,000 crore QIP be used for?
Answer: The QIP is an enabling resolution for potential post-budget growth opportunities, not an immediate fundraise. Existing operations are well-funded, but the resolution ensures readiness if large-scale railway capex projects emerge after the Union Budget.
Question 2: How much revenue did Jupiter Tatravagonka generate in 9M FY25?
Answer: Revenue for Jupiter Tatravagonka (wheel business) stood at Rs. 225 crore for 9M FY25, with full-year FY25 targets of Rs. 300 crore. The business is EBITDA-profitable (12% margin) and aims to double revenue in FY26, driven by backward integration and exports.
Question 3: Can the company achieve its 10,000-wagon target for FY25?
Answer: The company expects to deliver ~9,000 wagons in FY25 and targets 10,000 in FY26, supported by order book visibility and capacity expansion.
Question 4: What is the revenue growth outlook for FY26?
Answer: FY26 revenue is projected at ~Rs. 5,000 crore, driven by non-wagon segments (wheels, brakes, containers, electric mobility). By FY28, wagons are expected to contribute <50% of revenue.
Question 5: How will the electric mobility segment scale?
Answer: Jupiter Electric Mobility (JEM) has orders for 500+ TEZ electric vehicles (launching Feb 2025) and partnerships for battery leasing. Margins are positive, with a 10,000-vehicle annual capacity.
Question 6: What is the order book status and railway tender outlook?
Answer: The order book is Rs. 6,320 crore (50% private, 50% railways). A new railway tender is expected in 3"“4 months, likely smaller than the 2022 mega-order. Private orders remain strong.
Question 7: Are margins expected to improve in FY26?
Answer: Consolidated margins in FY26 will likely exceed FY25's 14.4% EBITDA due to higher contributions from high-margin segments like brakes, wheels, and electric mobility.
Question 8: What are the risks to wagon demand?
Answer: Private wagon orders are steady, while railway orders may transition to annual tenders post-FY26. Railway capex (e.g., freight corridors) supports sustained demand.
Question 9: Will the company enter metro/Vande Bharat coach manufacturing?
Answer: Metro coach opportunities are pursued via a CAF partnership. Vande Bharat focus is on components (brakes, couplers), not full coaches.
Question 10: How does Battery-as-a-Service (BaaS) work?
Answer: BaaS reduces upfront vehicle costs via per-km battery leasing. Partnerships with financiers and logistics firms (e.g., Porter) drive adoption, with no balance sheet burden.
Understand JUPITER WAGONS ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
Shareholder Name | Holding % |
---|---|
KARISMA GOODS PRIVATE LIMITED | 21.1% |
TATRAVAGONKA A.S. | 18.69% |
JUPITER METAL SPRING PRIVATE LIMITED | 10.22% |
ANISH CONSULTANTS & CREDITS PVT LTD | 3.62% |
MURARI LAL LOHIA | 3.59% |
JUPITER FORGINGS & STEEL PVT. LTD. | 3.52% |
GOTHIC CORPORATION | 3.08% |
VIKASH LOHIA | 2.69% |
ATYANT CAPITAL INDIA FUND - I | 2.36% |
VIVEK LOHIA | 1.84% |
MURARI LAL LOHIA HUF | 1.72% |
VANDERBILT UNIVERSITY | 1.2% |
THE DUKE ENDOWMENT | 1.18% |
GOTHIC HSP CORPORATION | 1.17% |
USHA LOHIA | 0.45% |
RITU LOHIA | 0.34% |
SHRADHA LOHIA | 0.17% |
RIDDLES MARKETING PRIVATE LIMITED | 0.13% |
LATE SAMIR KUMAR GUPTA | 0.01% |
Distribution across major stakeholders
Distribution across major institutional holders
Investor Care | |
---|---|
Dividend Yield | 0.42% |
Dividend/Share (TTM) | 1.6 |
Shares Dilution (1Y) | 2.96% |
Diluted EPS (TTM) | 9.2 |
Financial Health | |
---|---|
Current Ratio | 2.21 |
Debt/Equity | 0.17 |
Debt/Cashflow | -0.06 |
Detailed comparison of JUPITER WAGONS against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
---|---|---|---|---|---|---|---|---|---|
BEML | BEMLConstruction Vehicles | 12.94 kCr | 3.91 kCr | -3.47% | -12.30% | 49.44 | 3.31 | -2.07% | +43.30% |
TITAGARH | TITAGARH RAIL SYSTEMSRailway Wagons | 10.46 kCr | 3.97 kCr | -2.46% | -25.45% | 36.14 | 2.63 | +4.40% | +13.31% |
TEXRAIL | Texmaco Rail & EngineeringIndustrial Products | 5.59 kCr | 4.77 kCr | +3.92% | -25.02% | 24.16 | 1.17 | +46.64% | +169.18% |
HIRECT | Hind RectifiersIndustrial Products | 1.54 kCr | 623.19 Cr | -5.39% | +18.32% | 47.77 | 2.47 | +30.33% | +552.83% |
KERNEX | Kernex Microsystems (India)Transport Related Services | 1.31 kCr | 116.52 Cr | +0.07% | +45.49% | 269.76 | 11.22 | +967.24% | +121.62% |