India · Delayed Price · Currency is INR Jupiter Wagons Earnings Call Transcripts
Fiscal Year 2026
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FY 2026 saw resilient performance despite supply chain disruptions, with strong growth in wheel sets, containers, and clean energy. Order book stands at INR 4,675 crore, and non-wagon businesses are set to drive significant growth in FY 2027.
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Q3 FY26 saw strong sequential growth in revenue and profitability, with a robust order book and improving supply chain conditions. FY27 is expected to be muted due to ongoing wheelset constraints, but significant growth is anticipated in FY28 as new capacities and export opportunities materialize.
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Q2 FY26 saw a strong sequential rebound with revenue up 71% and EBITDA up 73% as supply issues eased. The order book remains robust at INR 5,538 crores, with growth in containers, BESS, and electric mobility. Margin guidance is maintained, though full-year revenue target may not be met.
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Q1 FY 2026 revenue dropped 53% year-over-year due to wheel set shortages, but supply has normalized and management expects to recover lost ground, maintaining full-year growth and margin guidance. Strong order book, expanding EV and battery businesses, and major CapEx in Odisha support long-term growth.
Fiscal Year 2025
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FY25 saw strong revenue and margin growth, major order wins, and expansion into EVs and battery systems. The Odisha wheel project is on track, with significant revenue and margin contributions expected post-commissioning. FY26 guidance is positive, subject to supply chain normalization.
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Q3 FY25 saw 15% revenue growth and margin expansion, with strong order book and segmental gains in wheels, brakes, and electric mobility. FY26 revenue is targeted at INR 5,000 crore, with improved margins and significant contributions from non-wagon businesses.
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Q2 and H1 FY25 saw double-digit revenue and profit growth, with robust order books and margin expansion. Strategic investments in battery tech, capacity expansion, and diversification are set to drive future growth, with non-wagon segments expected to contribute 50% of revenue by FY27.
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Q1 FY25 saw 19% revenue growth and 40% PAT increase, with EBITDA margin rising to 14.4%. Order book remains robust at INR 7,283 crore, and major investments in wheelsets, EVs, and battery tech are underway. Strong demand outlook and margin sustainability are expected.