Jupiter Wagons Limited announced its financial results for the fourth quarter and full year ended March 31, 2026, through a regulatory filing under Regulation 30 of SEBI Listing Regulations.

Financial Performance (Consolidated, ₹ in crore)

Q4 FY26 Results:

  • Total Income: ₹790 crore
  • EBITDA: ₹83 crore
  • EBITDA Margin: 10.7%
  • PAT: ₹27 crore
  • PAT Margin: 3.5%

Full Year FY26 Results:

  • Total Income: ₹2,961 crore (down 26% YoY from ₹3,963 crore in FY25)
  • EBITDA: ₹362 crore (down 37% YoY from ₹578 crore)
  • EBITDA Margin: 12.4% (down 220 bps from 14.6%)
  • PAT: ₹166 crore (down 56% YoY from ₹380 crore)
  • PAT Margin: 5.7% (down 390 bps from 9.6%)

Standalone Financial Performance (₹ in crore)

Q4 FY26 Standalone:

  • Total Income: ₹654 crore
  • EBITDA: ₹67 crore
  • EBITDA Margin: 10.4%
  • PAT: ₹39 crore
  • PAT Margin: 6.0%

FY26 Standalone:

  • Total Income: ₹2,577 crore (down 34% YoY from ₹3,905 crore)
  • EBITDA: ₹300 crore (down 45% YoY from ₹548 crore)
  • EBITDA Margin: 11.8% (down 240 bps from 14.2%)
  • PAT: ₹183 crore (down 51% YoY from ₹373 crore)
  • PAT Margin: 7.2% (down 240 bps from 9.6%)

Key Corporate Developments

Jupiter Wagons Limited:

  • Order book as of March 31, 2026: ₹4,675 crore
  • CRISIL Ratings reaffirmed at CRISIL AA(-)/Stable for long-term debt and CRISIL A1(+) for short-term debt
  • Equity shares allotted pursuant to conversion of warrants by promoter entity TATRAVAGONKA A.S., increasing promoter shareholding to 68.31%
  • Healthy growth in container sales segment

Jupiter Tatravagonka Railwheel Factory Private Limited:

  • Achieved revenue milestone exceeding ₹500 crore with EBITDA margin of 16%
  • Secured healthy order book across multiple applications including:
  • ₹113 crore Ministry of Railways order for 9,000 LHB axles
  • ₹215 crore LoI for 5,376 Vande Bharat wheelsets
  • Additional contracts for machining and assembly of LHB wheelsets
  • Secured long-term supply agreement with Tatravagonka for entire wheelsets requirement (20,000-30,000 wheelsets annually from upcoming Odisha facility)
  • In discussions with global players for strategic tie-ups for export opportunities
  • Odisha Greenfield project progressing as per schedule:
  • Orders placed for all critical equipment
  • Deliveries of key equipment have commenced
  • Civil construction work in advanced stages
  • Part production expected by end of FY27
  • Full commissioning expected by end of FY28

Jupiter Electric Mobility (JEM):

  • Developed and deployed modular Battery Energy Storage Systems (BESS) in 10 ft and 20 ft containers
  • Applications include diesel generator replacement, mobile energy storage, and solar integration
  • Commissioned cell-to-battery manufacturing line in Indore
  • Signed MoUs with Chalukya Power and Pickrenew Energy for 110 MWh of BESS business (mix of Utility-scale and C&I deployments) for FY26-27

Stone India Limited:

  • Obtained RDSO approval for Freight Brake System
  • Production to commence from July 2026

Management Commentary

Mr. Vivek Lohia, Managing Director, cited FY26 as a challenging year due to:

  • Industry-wide shortage of wheelsets in first half constraining wagon production
  • Disruptions in LPG availability and supply chain challenges from geopolitical tensions in Q4

He highlighted several positive developments:

  • Diversified business portfolio helped mitigate wagon segment disruptions
  • Wheelset business delivered outstanding performance with significant revenue milestone
  • Long-term supply agreement with Tatravagonka a.s. provides export growth trajectory
  • JEM Energy has ambitious revenue target for FY27 and ₹1,000 crore target over 3-4 years
  • Container business positioned for accelerated growth due to PLI scheme and ₹10,000 crore budgetary allocation
  • Company will enter passenger mobility segment in FY27 with full scale
  • Stone India's RDSO approval completes full backward integration across core product portfolio
  • Expects robust pipeline of large tenders from Government of India's modal shift policy from road to rail

Forward-Looking Statements

The document contains forward-looking statements subject to risks including regulatory changes, economic developments, and other factors that could cause actual results to differ materially.