Jupiter Wagons Reports 49% YoY Profit Decline in Q2 FY26, PAT at ₹45.3 Crore

Kolkata, November 11, 2025: Jupiter Wagons Limited (NSE: JWL; BSE: 533272), a leading provider of integrated mobility solutions, has reported its financial results for Q2 FY26, showing a significant decline in profitability. Profit after tax (PAT) stood at ₹45.3 crore, down 49% year-on-year, despite a modest sequential recovery.

On the stock market, Jupiter Wagons’ shares remained largely flat during trading on Tuesday before closing lower by 1.45% at ₹306.50. Over the past six months, the stock has fallen nearly 14.66%, reflecting investor caution amid the profit slowdown.

Key Financial Highlights

According to the company’s filings, Jupiter Wagons reported total income of ₹796.10 crore in Q2 FY26, marking a 21.8% decline year-on-year. EBITDA fell sharply to ₹103.6 crore, down 25.7% compared to the same quarter last year. Profit after tax (PAT) also dropped to ₹45.3 crore, reflecting a 49.2% year-on-year decline. Additionally, both EBITDA and PAT margins contracted, falling by 60 and 310 basis points, respectively, year-on-year.

Q2 Performance Overview

Revenues from operations for the quarter stood at ₹786 crore, representing an impressive 71% sequential increase, driven by improved wheelset supply in the wagons segment. Consolidated EBITDA rose 73% quarter-on-quarter, with margins remaining steady at 13.2%. The company’s order book remains robust at ₹5,538 crore, reflecting healthy and consistent revenue visibility for the upcoming quarters.

Key Business Developments

The company secured major orders worth ₹215 crore, ₹113 crore, and ₹242 crore for the supply of Vande Bharat wheelsets, LHB axles, and GATX wagons, respectively. It also appointed Mr Vinod Kr. Agarwal as CFO and Key Managerial Personnel (KMP) effective September 24, 2025. In addition, the company achieved a high ESG rating of 46 from ESG Risk Assessments and Insights Limited, reflecting its strong commitment to sustainability and governance.

Segmental Highlights

JEM (Jupiter Electric Mobility) launched modular BESS (Battery Energy Storage Systems) that range between 241 kWh to 3 MWh. The company delivered the first 10 ft BESS to Greenlit and also developed the first liquid-cooled grid-scale BESS, meant for export markets. The company also introduced JEM TEZ, a 1.05-ton electric LCV that has a 300+ km certified range. The company, during the quarter, has expanded its dealership network by adding six new outlets across Delhi, Hyderabad, and Pune.

The company in the Jupiter Tatravagonka Railwheel Factory segment continued construction of its ₹2500 crore wheel and axle plant in Odisha. The plant is set to manufacture 1 lakh forged wheelsets annually by the end of 2027 under the Make in India initiative.

Management Commentary

The top management, represented by the company’s MD, Mr Vivek Lohia, underlined how it was able to navigate supply constraints in the first quarter. The company has regained operational momentum, which is demonstrated by the 71% sequential growth in the second quarter. The company’s diversification in electric mobility and battery energy storage continues to gain traction. The upcoming Odisha facility will enhance the company’s manufacturing strength.

JWL (Jupiter Wagons Limited) is one of the most diversified mobility engineering companies in the country. It has operations in different segments, producing freight wagons, locomotives, passenger coaches, axles, metro coaches, and various other containers. The company has multiple integrated production units across Indore, Kolkata, Jamshedpur, Jabalpur, and Aurangabad. The company partners with multiple global players, including Tatravagonka (Slovakia), DAKO-CZ (Czech Republic), and Kovis Proizvodna (Slovenia).

REF: https://nsearchives.nseindia.com/corporate/CEBBCO_11112025160202_SEPRESSRELEASE11112025.pdf

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