For the April-June quarter of the current fiscal, Jupiter Wagons posted a multi-fold jump in its net profit at ₹63.60 crore compared to ₹13.41 crore in Q1FY23, driven by higher income. The total income jumped to ₹755.41 crore from ₹ 296.57 crore in the year-ago period, while EBITDA was ₹99.56 crore, reflecting 217% growth YoY.

As on June 30, 2023, the company's order book was at ₹6,122.30 crore. The orders for freight wagons comprising volumes of 2,150 wagons aggregating to approximately ₹1,060 crore have been received from private parties during the quarter.

The company in its earnings report said that the demand scenario for wagons remained buoyant with a substantial order book of ₹1,06,000 lakh received from private customers during the first quarter of FY24. It expects the momentum to sustain in the near future. “Further, there is an impending global tender to be launched by the Indian Railways which is anticipated to be of substantial scale and incorporating a multi-year maintenance commitment. All indication that Indian Railways will also be procuring close to 40,000 additional conventional wagons very shortly,” it said.

Besides, Jupiter Wagons has made a strategic entry into the global markets by entering a long-term memorandum of understanding (MOU) with RITES, a prominent PSU associated with the Indian Railways, to explore opportunities in the international market for railway rolling stock projects. They have jointly engaged in two tenders in Zimbabwe and Mozambique. The completion of these tenders, involving around 620 freight wagons, is currently in the final stages. JWL’s intention is to uphold the MOU with RITES and it expects an export order for roughly 1,000 freight wagons by the close of the calendar year 2024.

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