Jupiter Wagons FY26 Consolidated PAT ₹166 Cr, Down 56% YoY; Q4 PAT ₹27 Cr
Jupiter Wagons reported FY26 consolidated PAT of ₹166 crore, down 56% YoY, on total income of ₹2,961 crore. Q4 FY26 consolidated PAT was ₹27 crore. The company's order book stands at ₹4,675 crore. Key subsidiaries like Jupiter Tatravagonka and Jupiter Electric Mobility showed growth, with JEM targeting INR 1,000 crore revenue from BESS in 3-4 years.
The substantial drop in profits and revenue, coupled with commentary on industry headwinds, suggests a significant impact on the company's financial standing and future outlook.
The company reported a significant year-on-year decline in both revenue and profit for FY26 and Q4 FY26, indicating a negative financial performance.
Jupiter Wagons Limited has reported its financial results for the fourth quarter and the full fiscal year ended March 31, 2026. For the full fiscal year FY26, the company recorded a consolidated total income of ₹2,961 crore, a decrease of 26% compared to ₹3,963 crore in FY25. Consolidated EBITDA stood at ₹362 crore, down 37% from ₹578 crore in the previous year, with an EBITDA margin of 12.4%.
The consolidated Profit After Tax (PAT) for FY26 was ₹166 crore, a significant decrease of 56% from ₹380 crore in FY25. The PAT margin for FY26 was 5.7%.
In the fourth quarter of FY26 (Q4 FY26), consolidated total income was ₹790 crore, down from ₹1,057 crore in Q4 FY25. Consolidated EBITDA for the quarter was ₹83 crore, with a margin of 10.7%. PAT for Q4 FY26 was ₹27 crore, a substantial drop from ₹103 crore in the same quarter last year.
On a standalone basis, total income for FY26 was ₹2,577 crore, a decrease of 34% from ₹3,905 crore in FY25. Standalone EBITDA was ₹300 crore, down 45% from ₹548 crore, with an EBITDA margin of 11.8%. Standalone PAT for FY26 was ₹183 crore, down 51% from ₹373 crore in FY25, with a PAT margin of 7.2%.
Key developments during FY26 include an order book of ₹4,675 crore as of March 31, 2026. Jupiter Wagons Limited also received reaffirmed bank facility credit ratings from CRISIL at CRISIL AA(-)/Stable for long-term debt and CRISIL A1(+) for short-term debt. The promoter entity, TATRAVAGONKA A.S., increased its shareholding to 68.31% after converting warrants. The company noted healthy growth in container sales and anticipates accelerated growth due to a recent Production Linked Incentive (PLI) scheme with a ₹10,000 crore budgetary allocation.
The Jupiter Tatravagonka Railwheel Factory Private Limited achieved over ₹500 crore in revenue with a 16% EBITDA margin and secured significant orders for wheelsets, including a ₹113 crore Ministry of Railways order and a ₹215 crore Letter of Intent (LoI) for Vande Bharat wheelsets. A long-term supply agreement with Tatravagonka is in place, and the Odisha Greenfield project is progressing, expected to commence part production by the end of the current financial year and full commissioning by the end of FY28.
Jupiter Electric Mobility (JEM) has developed modular Battery Energy Storage Systems (BESS) and commissioned a cell-to-battery manufacturing line in Indore. JEM signed MoUs with Chalukya Power and Pickrenew Energy for 110 MWh of BESS business, targeting INR 1,000 crore in revenue from the battery and BESS vertical over 3-4 years.
Stone India Limited obtained RDSO approval for its Freight Brake System, with production commencing in July 2026.
Mr. Vivek Lohia, Managing Director, commented that FY26 faced external challenges like wheelset shortages and supply chain disruptions. He highlighted the resilience of the diversified portfolio, strong performance in the wheelset business, and strategic progress in the clean energy vertical (JEM). He also emphasized the full backward integration achieved with Stone India's approval and expressed confidence in near-term demand for the wagon business driven by government policy.
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Jupiter Wagons Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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