The small-cap railway stock gained 3 percent on Monday’s trading session after reporting strong Q2 FY 24 results.
With a market capitalization of Rs 11,772 cr, the shares of Jupiter Wagons Ltd started their today’s trading session on a higher note. The share opened higher at Rs 324 level making a gain of 3 percent and currently trading at Rs 319 apiece.
The positive movement in the stock was observed after the company announced its Q2 FY24 results. The revenue increased by 17 percent from Rs 753.19 cr during Q1 FY24 to Rs 879.30 cr in Q2 FY24. In addition to this net profit increased by 29 percent from Rs 62.85 cr to Rs 81.58 cr during the same timeframe.
Comparing these metrics on a YoY basis, the revenue increased by 111 percent from Rs 417.96 cr during Q2FY23 to Rs 879 cr in Q2 FY24. The net profit was accelerated by 230 percent from Rs 24.80 cr to Rs 81.56 cr keeping the same timeframe.
Furthermore, they mentioned that the capacity of the existing foundry at the Kolkata Unit will be increased from 2,500 metric tonnes at present to 3,000 metric tonnes by the conclusion of this fiscal year.
Looking at the important financial ratios of the company, the return on equity was 16.24 percent during FY22-23, and the return on capital employed was 23.99 percent during the same period.
The stock has given multi-bagger returns to its investors. In just 6 months the stock has given 189 percent returns and 227 percent returns on a YTD basis. For example, since January if someone had invested Rs. 1 lakh in this company’s share then the value of these shares would be Rs 3.27 lakhs now.
According to the latest shareholding pattern, Promoters have 72.37 percent of the company’s stake, the Public (Retail Investors) have 25.76 percent holding, FIIs have 0.86 percent of the company’s share and the remaining 1.01 percent is with DIIs.
Jupiter Wagons Limited (JWL) is a provider of comprehensive mobility solutions, with diverse offerings across Freight Wagons, Locomotives, Passenger Coaches (LHB), Braking Systems, Metro Coach, Commercial Vehicles, ISO Marine Containers, and products such as Couplers, Draft Gears, Bogies, and CMS Crossings.
Written By Vaibhav Patil
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