Jupiter Wagons (JWL) Q1 24/25 earnings summary

Executive summary

• Q1 FY25 total income reached ₹90,219 lakh, up 19% year-over-year, with EBITDA rising 32% and margin improving to 14.4%, despite operational challenges from elections and peak summer conditions.

• PAT increased 40% to ₹8,923 lakh, with PAT margin at 9.9%.

• Order book as of June 30, 2024, was ₹7,02,834 lakh, reflecting strong demand and robust pipeline.

• Achieved significant milestones in battery technology, EVs, and backward integration through Bonatrans acquisition.

• Board approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2024.

Financial highlights

• Standalone revenue from operations for Q1 FY25: ₹89,492.60 lakh, up from ₹75,318.65 lakh YoY.

• EBITDA for Q1 FY25 was ₹12,886 lakh, up 32% year-over-year; EBITDA margin improved to 14.4%.

• PAT reached ₹8,923 lakh, a 40% increase year-over-year; PAT margin at 9.9%.

• EPS for the quarter was ₹2.16 per share (standalone) and ₹2.23 (consolidated).

• Net debt stands at ₹30,000 lakh, with gross debt at ₹45,000 lakh.

Outlook and guidance

• Targeting sales of 10,000+ wagons in FY25, with strong execution post-election and robust private sector demand.

• Wheelset production capacity to reach 28,000–30,000 by year-end and 40,000–50,000 by FY26, with long-term goal of 1 lakh annually by 2027.

• Commercial EV production to begin in October (Q3 FY25), aiming for 500 units in the inaugural year.

• Confident in sustaining 15%+ EBITDA margins as backward integration and new business segments scale.