Q1FY24 Quarterly Result Announced for Jupiter Wagons Ltd.
Commercial Vehicles company Jupiter Wagons announced Q1FY24 results: Revenue for Q1FY24 stood at Rs 75,319 lakh, up 155% YoY EBITDA for Q1FY24 at Rs 9,956 lakh, up 217% YoY, EBITDA margin improves to 13.2% from 10.6% Continued to deliver an industry-leading margin of 13.2% PAT for Q1FY24 stood at Rs 6,360 lakh, up 374% YoY, PAT margin 8.4% EPS for Q1FY24 is Rs 1.62 per share of Rs 10 each Commenting on the results, Vivek Lohia, Managing Director of Jupiter Wagons said, “We are delighted to commence FY24 on a strong note, with several exciting developments in the first quarter. The company's business momentum remained robust, as we reported revenues of Rs 75,319 lakh, growing 155% on a YoY basis. EBITDA was Rs 9,956 lakh, reflecting 217% growth YoY. Due to an improved product mix and the introduction of value-added products, we reported an EBITDA margin of 13.2%, representing an expansion of 260 bps YoY and further embellishing our industry-leading margins. Additionally, profit after tax was Rs 6,360 lakh, higher by 374% YoY. Looking beyond the strong financial performance during the quarter, we are delighted to share that our bid for Stone India has received NCLT approval. We see several synergies from the addition of this entity to our group and will endeavor to rapidly restore the operational momentum. We have stepped into the global markets for freight wagons through our long-term MoU with RITES Ltd. following which we participated in global tenders in Zimbabwe and Mozambique. We have received our first order for Weldable CMS crossings and are set to roll out production shortly. We have commenced delivery of Brake Disc assemblies this quarter and foresee strong traction for these products going forward. The container business is witnessing high interest in specialized products, and we are engaging with marquee international customers and are poised to further elevate the business performance. Progress has also been made on upcoming business lines of braking systems and eLCVs. The overall outlook remains favorable, and the company's primary focus is on creating enduring value for all stakeholders.” Result PDF08-08-2023