Jupiter Wagons (JWL) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 began with strong business momentum, driven by portfolio diversification and investments in technology, capacity, and manufacturing capabilities.

• Strategic partnership formed with Lucchini RS and SIMEST, bringing a 25% stake and INR 290 crore investment into the rail wheel business, establishing India's first fully integrated private-sector railwheel manufacturing platform.

• Significant new orders were secured in railway, energy storage, and logistics segments, expanding the order book and diversifying growth opportunities.

• Board approved unaudited standalone and consolidated financial results for the quarter ended 30 June 2026.

• Re-appointments of two Independent Directors and two Executive Directors for five-year terms, and adoption of new MOA/AOA to align with Companies Act, 2013 and reflect business diversification.

Financial highlights

• Consolidated revenue from operations for Q1 FY27 was INR 671 crore (₹670.7 crore), up 46% year-over-year but down 14% sequentially from Q4 FY26.

• EBITDA grew 9% year-over-year to INR 65 crore (₹64.9 crore), with a margin of about 10%.

• PAT for Q1 FY27 stood at INR 26 crore (₹26.2 crore), with a PAT margin of 4% (3.9%), down from 6.8% in Q1 FY26.

• Standalone revenue for Q1 FY27 was ₹618.7 crore, up 50.6% year-over-year; standalone PAT was ₹38 crore, up 15.8% year-over-year, with a PAT margin of 6.1%.

• Wagon realization increased from INR 38 lakh to INR 41.5 lakh compared to the same quarter last year.

Outlook and guidance

• Management expects stronger profitability in upcoming quarters as volumes and operating leverage improve.

• Targeting a BESS order book of INR 1,000 crore by FY 2027 and INR 5,000 crore over the next three years.

• Stone India expected to achieve 15%+ EBITDA margin from FY 2028 as volumes ramp up.

• JEM Energy's BESS business to turn EBITDA positive from FY 2028.

• Focus remains on expanding manufacturing footprint, strengthening backward integration, and developing innovative mobility and energy solutions.