India · Delayed Price · Currency is INR Jupiter Wagons Earnings Call Transcripts
Fiscal Year 2026
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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 delivered a strong sequential rebound with 71% revenue growth and margin expansion as supply constraints eased. Diversification in BESS and electric mobility is accelerating, with both segments expected to break even by FY27. Order book visibility remains robust.
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Q1 FY 2026 revenue and profit declined sharply due to wheel set shortages, but supply has normalized and management expects to meet full-year growth and margin guidance. Strong momentum in EV, battery, and wheel businesses, with major CapEx underway and a robust order book supporting future growth.
Fiscal Year 2025
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FY25 saw strong revenue and margin growth, driven by robust order books, new EV and battery initiatives, and progress on the Odisha wheel project. Outlook for FY26 is positive, with targets to double wheel and brake revenues, but contingent on resolving wheel set supply constraints.
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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.