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Jupiter Wagons Ltd Earnings Update: Q3 & 9MFY25 29th January 2025
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2Jupiter Wagons Ltd Safe Harbour 2Jupiter Wagons Ltd Certain statements and opinions with respect to the anticipated future performance of Jupiter Wagons Ltd (JWL) in the presentation (“forward-looking statements”), which reflect various assumptions concerning the strategies, objectives and anticipated results may or may not prove to be correct. Such forward-looking statements involve several risks, uncertainties and assumptions which could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These include, among other factors, changes in economic, political, regulatory, business or other market conditions. Such forward- looking statements only speak as at the date the presentation is provided to the recipient and JWL is not under any obligation to update or revise such forward- looking statements to reflect new events or circumstances. No representation or warranty (whether express or implied) is given in respect of any information in this presentation or that this presentation is suitable for the recipient’s purposes. The delivery of this presentation does not imply that the information herein is correct as at any time after the date hereof and JWL has no obligation whatsoever to update any of the information or the conclusions contained herein or to correct any inaccuracies which may become apparent subsequent to the date hereof Safe Harbour
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3Jupiter Wagons Ltd Key Financial Highlights - Q3FY25 (Consolidated) Revenue from operations for Q3FY25 stood at ₹ 1,029.8 crore, up 15.0% YoY. EBITDA for Q3FY25 at ₹ 148.7 crore higher by 19.5% YoY. EBITDA Margin stood at 14.4% in Q3FY25 from 13.9% in Q3FY24. JWL continues to deliver industry-leading margins. PAT for Q3FY25 stood at ₹ 96.4 crore, higher by 18.4% YoY with a PAT Margin of 9.2% EPS for the quarter is ₹ 2.29 per share of a face value of ₹ 10 each
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4Jupiter Wagons Ltd Key Financial Highlights - 9MFY25 (Consolidated) Revenue from operations for 9MFY25 stood at ₹ 2,918.7 crore, up 15.5% YoY. EBITDA for 9MFY25 at ₹ 424.8 crore, up 24.3% YoY. EBITDA Margin improved to 14.5% in 9MFY25 from 13.5% in 9MFY24. JWL continues to deliver industry- leading margins. PAT for 9MFY25 stood at ₹ 277.7 crore, higher by 22.7% YoY, with a PAT Margin of 9.4%. EPS for 9MFY25 is ₹ 6.64 per share of a face value of ₹ 10 each
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5Jupiter Wagons Ltd Q3FY25 Financial Highlights – Standalone 896 974 1,000 Q3 FY24 Q2 FY25 Q3 FY25 Revenue (₹ In Crore) 11.6% 125 133 141 Q3 FY24 Q2 FY25 Q3 FY25 EBITDA (₹ In Crore) 83 89 98 Q3 FY24 Q2 FY25 Q3 FY25 PAT (₹ In Crore) 13.1% 17.3%
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6Jupiter Wagons Ltd 9MFY25 Financial Highlights – Standalone 2,528 2,869 9M FY24 9M FY25 Revenue (₹ In Crore) 13.5% 343 403 9M FY24 9M FY25 EBITDA (₹ In Crore) 229 276 9M FY24 9M FY25 PAT (₹ In Crore) 17.5% 20.6%
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7Jupiter Wagons Ltd Q3FY25 Financial Highlights – Consolidated 896 1,009 1,030 Q3 FY24 Q2 FY25 Q3 FY25 Revenue (₹ In Crore) 15.0% 124 139 149 Q3 FY24 Q2 FY25 Q3 FY25 EBITDA (₹ In Crore) 81 89 96 Q3 FY24 Q2 FY25 Q3 FY25 PAT (₹ In Crore) 19.5% 18.4%
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8Jupiter Wagons Ltd 9MFY25 Financial Highlights – Consolidated 2,528 2,919 9M FY24 9M FY25 Revenue (₹ In Crore) 15.4% 342 425 9M FY24 9M FY25 EBITDA (₹ In Crore) 226 278 9M FY24 9M FY25 PAT (₹ In Crore) 24.3% 22.7%
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9Jupiter Wagons Ltd Standalone Profit & Loss statement (₹ in crore) Particulars Q3FY25 Q3FY24 Y-o-Y (%) 9MFY25 9MFY24 Y-o-Y (%) Revenue 1,000.0 895.8 11.6% 2,868.6 2,528.3 13.5% Other Income 10.6 5.0 112.0% 25.5 12.6 102.4% Total Income 1,010.6 900.8 12.2% 2,894.1 2,540.9 13.9% Cost of Raw material 766.3 688.7 11.3% 2,203.3 1,959.5 12.4% Employee Cost 14.4 12.3 17.1% 42.6 35.3 20.7% Other Expenses 78.2 70.0 11.7% 219.4 190.1 15.4% Total Operating Cost 858.9 771.0 11.4% 2,465.3 2,185.0 12.8% EBITDA (Excl. Other Income) 141.1 124.8 13.1% 403.3 343.3 17.5% EBITDA% 14.1% 13.9% 14.1% 13.6% Depreciation 7.8 6.8 14.7% 22.6 20.5 10.2% Finance Cost 12.5 11.5 8.7% 39.3 30.2 30.1% PBT 131.5 111.5 17.9% 366.9 305.1 20.2% Tax 33.6 28.1 19.6% 91.2 76.6 19.1% Deferred tax 1.2 0.4 0.3 0.7 Current tax 32.4 27.7 90.9 75.9 PAT 97.9 83.4 17.4% 275.7 228.6 20.6% PAT% 9.7% 9.3% 9.5% 9.0%
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10Jupiter Wagons Ltd Consolidated Profit & Loss statement (₹ in crore) Particulars Q3FY25 Q3FY24 Y-o-Y (%) 9MFY25 9MFY24 Y-o-Y (%) Revenue 1,029.9 895.8 15.0% 2,918.8 2,528.3 15.5% Other Income 14.8 5.0 198.1% 32.4 12.9 149.5% Total Income 1,044.7 900.8 16.0% 2,951.2 2,541.3 16.1% Cost of Raw material 775.2 688.7 12.6% 2,198.8 1,959.5 12.2% Employee Cost 18.1 12.4 46.3% 52.2 35.4 47.1% Other Expenses 87.9 70.4 24.9% 243.0 191.5 26.9% Total Operating Cost 881.2 771.5 14.2% 2,494.0 2,186.4 14.1% EBITDA (Excl. Other Income) 148.7 124.4 19.5% 424.8 341.9 24.3% EBITDA% 14.4% 13.9% 14.5% 13.5% Depreciation 13.5 6.8 97.5% 38.8 20.5 88.8% Finance Cost 14.5 11.5 26.3% 43.8 30.2 44.8% Share in Profit / (loss) of Joint ventures (5.9) (1.5) (6.2) PBT 129.6 109.5 18.3% 368.4 302.9 21.6% Tax 33.2 28.1 18.1% 90.7 76.6 18.5% Deferred tax 0.8 0.4 (0.2) 0.7 Current tax 32.4 27.7 90.9 75.9 PAT 96.4 81.5 18.4% 277.7 226.4 22.7% PAT% 9.2% 9.0% 9.4% 8.9%
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11Jupiter Wagons Ltd Q3 & 9MFY25: Operating Highlights Particulars Q3FY25 In no.s Q2FY25 In no.s Q3FY24 In no.s 9MFY25 In no.s 9MFY24 In no.s Railway Wagons 2,259 2,130 1,924 6,343 5,487 CMS Crossing 297 214 145 802 428 Commercial Vehicle Bodies & Components 2,391 1,590 3,273 6,106 7,895 Containers 258 217 190 674 433 Wheels 48 147 200 243 566 Axles 1,498 2,134 314 5,480 948 Wheel sets 2,288 3,327 2,015 7,540 2,706 Brake Disc 4,237 4,225 1,258 13,026 3,859 Axle Box / Hubs (export) 4,258 2,366 2,194 10,349 2,204 Axle Mounted Disc Brake System 158 22 - 230 - Order Book of ₹ 6,320 crore as on December 31, 2024
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12Jupiter Wagons Ltd MD’s Message Commenting on the results, Mr. Vivek Lohia, Managing Director of Jupiter Wagons Ltd. said, We are deeply grateful for the trust and confidence our investors have placed in us, which has enabled us to sustain our operational and financial momentum this quarter. We completed Q3 with Revenues of ₹ 1,030 crore, higher by 15% on a yoy basis. EBITDA was ₹ 149 crore, an increase of 19.5% yoy with an EBITDA margin of 14.4% this quarter. Profit After Tax also saw a significant increase of 18.4% Yo Y, reaching ₹ 96.4 crore, demonstrating the effectiveness of our strategies. As of 31st December 2024, our order book stood at ₹6,320 crore, reflecting strong demand across our product verticals and highlighting the confidence of our customers. This quarter also marked significant strides in our electric mobility and sustainability efforts. Jupiter Electric Mobility (JEM) is set to commence supplies of its electric LCVs and is in process of identifying and onboarding strategic partners, driving forward its mission to revolutionize sustainable transportation across India. During the quarter, we have increased our stake in JEM from 60% to 75%. Also, in October, JEM acquired Log9’s technology and business assets for Railway Battery and Electric Truck Battery Divisions, which will enable in-house battery production for our electric light commercial vehicles, reinforcing our commitment to sustainable innovation. The expansion of our foundry capacity is nearing completion, and this will enable us to grow volumes further in our wagon business even as we are set to scale our businesses of safety systems, track components, eLCVs, wheelsets as well as brake systems for passenger and freight rolling stocks. The outlook remains bright as there are expectations that the 2025-26 Budget, could witness an substantial increase in allocation towards Railways, which will ensure that key commitments towards modernizing Railways will make progress and more importantly, the augmentation of capacity and development of infrastructure, which is the need of the hour, will continue unabated resulting in sustained demand for wagon and non-wagon railway products.” Mr. Vivek Lohia Managing Director
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13Jupiter Wagons Ltd Key Highlights Jupiter Wagons Ltd has increased its stake in subsidiary Jupiter Electric Mobility (JEM) from 60% to 75%. This is through purchase of shares as well as by way of a Preferential Issue. JEM, has acquired Log9's technology and business assets for its Railway Battery and Electric Truck Battery Divisions, gaining control and ownership of the proprietary technology which is set to revolutionize electric mobility in India with advanced battery solutions for electric trucks and Indian Railways.
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14 Annexure
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15Jupiter Wagons Ltd Robust Manufacturing Capabilities No of Facilities Products Unit 1 Load bodies for Commercial Vehicle Jamshedpur Kolkata No of Facilities Products Unit 1 Wagons, couplers, draft gears, CMS crossing, Bogies, CRF section Unit 2 Brake System for high-speed passenger train (JV with Dako) Unit 3 CMS Crossings (JV with Talleres Alegria) Unit 4 Stone India – Brake system for Freight wagons, Pantograph, DV etc. Unit of Stone India Jabalpur No of Facilities Products Unit 1 & 2 Load bodies for Commercial Vehicle Unit 3 Wagons, CRF section Unit 4 Brake disc for high-speed passenger coach, Hubs etc. (JV with Kovis) Indore No of Facilities Products Unit 1 Load bodies for Commercial Vehicle & Containers, Manufacturing unit of E-LCV Pune Development centre of E-LCV Baddi No of Facilities Products Unit 1 Wheels, Axles, Wheel sets Aurangabad Odisha No of Facilities Products Unit 1 Forged Wheel sets
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16Jupiter Wagons Ltd Technology Alliance With Best-In-Class Global Players Key Players Status / Structure Products JV will manufacture Current Status Tatravagonka, one of the dominant wagon manufacturer in Europe Tatravagonka Poprad Strategic Investor NA NA Kovis D.O.O. is a leading manufacturer of Brake discs for railway vehicles and bearing housings KOVIS JV incorporated as: JWL- KOVIS India Pvt. Ltd. (50:50) Brake discs, Axles and Gear boxes • Orders book worth ₹44 crore (Domestic + Export) DAKO-CZ, a leading manufacturer of Pneumatic, Electromechanical and Hydraulic brake systems for rolling stock DAKO-CZ JV incorporated as: JWL DAKO-CZ India Ltd. (50:50) Brake system for High-speed passenger train, Metro-coach & Freight Car Axle mounted disc brake, Bogie mounted brake and Wheel slide protection Order book worth for ₹60 crore for axle-mounted disc brake system Talleres Alegra specializes in railway track material and equipment production, with 108 years of experience Talleres Alegra JV incorporated as: JWL Talegria Pvt. Ltd (50:50) Weldable Cast Manganese Steel (WCMS) Crossings for both BG (Broad Gauge) and Metro • For 1 in 12 WCMSC, received orders of 4,626 sets from Indian railways • For 1 in 8.5 WCMSC, received orders of 88 sets from Indian railways • Received orders from Indian railways worth ₹151 crore for weldable CMS crossings
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Thank You Mayank Vaswani / Richa Singh CDR India Tel: +91 98209 40953 / +91 91677 72135 Email: mayank@cdr-india.com / richa@cdr-india.com