Key Financial Performance - Consolidated

Q2 FY27 Performance (Consolidated)

  • Revenue from operations: ₹772.2 crore, up 15.1% quarter-on-quarter (QoQ)
  • EBITDA: ₹94.3 crore, up 45.2% QoQ
  • EBITDA Margin: 12.2% (vs 9.7% in Q1 FY27)
  • PAT: ₹46.2 crore, with PAT Margin of 6%
  • EPS: ₹1.12 per share (face value ₹10 each)
  • Total Income: ₹782.3 crore
  • Cost of Raw Material: ₹555.0 crore
  • Employee Cost: ₹26.1 crore
  • Other Expenses: ₹96.8 crore
  • Depreciation: ₹18.7 crore
  • Finance Cost: ₹21.3 crore
  • Tax: ₹18.9 crore

H1 FY27 Performance (Consolidated)

  • Revenue from operations: ₹1,442.9 crore, up 15.9% year-on-year (YoY)
  • EBITDA: ₹159.2 crore
  • EBITDA Margin: 11.0%
  • PAT: ₹72.3 crore, with PAT Margin of 5%
  • EPS: ₹1.78 per share (face value ₹10 each)
  • Total Income: ₹1,462.1 crore

Consolidated Balance Sheet (as of September 30, 2026)

  • Total Assets: ₹5,901.4 crore (vs ₹4,712.5 crore FY26)
  • Property, plant and equipment: ₹820.0 crore
  • Capital work in progress: ₹1,385.7 crore (significant increase from ₹269.6 crore FY26)
  • Inventories: ₹1,035.3 crore
  • Trade receivables: ₹692.8 crore
  • Cash and Cash Equivalents: ₹652.0 crore
  • Total Equity: ₹3,334.2 crore
  • Borrowings: ₹881.2 crore (non-current) + ₹690.5 crore (current) = ₹1,571.7 crore total

Key Financial Performance - Standalone

Q2 FY27 Performance (Standalone)

  • Revenue from operations: ₹672.9 crore, up 8.8% QoQ
  • EBITDA: ₹88.1 crore, up 34.0% QoQ
  • EBITDA Margin: 13.1% (vs 10.6% in Q1 FY27)
  • PAT: ₹53.5 crore, with PAT Margin of 8%
  • EPS: ₹1.25 per share (face value ₹10 each)

H1 FY27 Performance (Standalone)

  • Revenue from operations: ₹1,291.6 crore, up 15.5% YoY
  • EBITDA: ₹153.9 crore
  • EBITDA Margin: 11.9%
  • PAT: ₹91.5 crore, with PAT Margin of 7.1%
  • EPS: ₹2.14 per share (face value ₹10 each)

Operational Highlights

Production Volumes (Q2 FY27)

  • Railway Wagons: 1,212 units
  • CMS Crossing: 609 units
  • Commercial Vehicle Bodies & Components: 2,865 units
  • Containers: 653 units
  • Wheel sets: 2,636 units
  • Axles: 2,087 units
  • Brake Disc: 5,032 units

Order Book

  • Total order book: ₹5,841 crore

Strategic Developments & Business Updates

New Subsidiaries and Business Expansion

  • Incorporated Jupiter Rail Mobility Private Limited (JRMPL) for entry into Rail Passenger Transport and engineering industry
  • Signed MoU with Poland-based PESA to explore opportunities in passenger rolling stock across metro, regional, intercity, semi-high-speed and high-speed rail segments
  • Incorporated Jupiter Green Power Solutions Private Limited for energy and power sector deployment

Order Wins

  • Secured ₹1,140 crore order from Ministry of Railways for 2,583 BOXNHL and BOXNS wagons
  • Secured orders worth over ₹450 crore from GATX India, Chetak International and Balmer Lawrie & Company Limited for ACT2 automobile carrier wagons and BFNS 22.9T wagons
  • Won 41 MW/102.5 MWh BESS project in Uttarakhand worth approximately ₹100 crore

Subsidiary Updates

Jupiter Tatravagonka Railwheel Factory
  • Entered strategic partnership with Lucchini RS (Italy) for railwheel manufacturing
  • Lucchini along with SIMEST infused fresh equity of approximately ₹290 crore for 25% stake in JTRWF
Jupiter Electric Mobility
  • Secured 110 MWh of FY27 BESS orders through MoUs with Chalukya Power and Pickrenew Energy
Stone India
  • Received RDSO approval for Freight Brake System
  • Commercial production commenced from July 2026

Management Commentary

Mr. Vivek Lohia, Managing Director, commented on the resilient performance in Q2 and H1 FY27, highlighting:

  • Focus on operational efficiencies improving margins
  • Sharp revival in order inflows in recent weeks and months
  • Upcoming 5,800 BOBRN wagon tender expected to elevate momentum further
  • BESS order book crossed 500 MWh, valued at over ₹500 crore, targeting ₹1,000 crore by FY27
  • Focus on converting opportunity pipeline into quality orders and expanding manufacturing capabilities

Technology Alliances

Company maintains technology alliances with global players:

  • Tatravagonka Poprad (Strategic Investor)
  • KOVIS (JV: JWL-KOVIS India Pvt. Ltd., 50:50) - Brake discs, Axles and Gear boxes
  • DAKO-CZ (JV: JWL DAKO-CZ India Ltd., 50:50) - Brake systems for rolling stock
  • Talleres Alegra (JV: JWL Talegria Pvt. Ltd., 50:50) - Weldable Cast Manganese Steel Crossings