The shares of this railway company specializing in producing wagons, brake systems, and electric mobility came into focus after its EV arm announced a target of 1 lakh EV sales in 5 years and other plans of the subsidiary.
Stock Performance
With a market capitalization of Rs 13,040.58 crore, Jupiter Wagons Ltd rose 3 percent in Thursday’s trading session and made a high of Rs 312 per share compared to its previous closing price of Rs 301.65 per share. The stock retraced from its day’s high and was trading at Rs 307.45 which is a 2 percent increase compared to the previous closing price.
What Happened
Jupiter Electric Mobility (JEM), the electric vehicle division of the Jupiter Group, recently launched its flagship 1.05-ton electric light commercial vehicle (e-LCV), named ‘Tez’. The company is committed to the LCV segment, starting with 1-tonne+ electric trucks and expanding to 2-tonne and 3-tonne models by year-end.
Initially focusing on metro cities with strong charging infrastructure, JEM targets annual EV sales of 100,000 units in 5-6 years. The Pithampur (Indore) plant currently produces 8,000 vehicles per year. The company has plans to scale up once sales stabilize at 400-500 units per month. Since EV manufacturing is assembly-driven, scaling operations will be faster compared to industries like railways.
Financial Performance
In the latest quarter, Jupiter Wagons reported a 12 percent YoY increase in its revenue from Rs 896 crore to Rs 1,000 crore. On a quarterly basis, there was a 3 percent increase from Rs 974 crore in Q2 FY25.
This was accompanied by an impressive 18 percent YoY increase in net profits from Rs 83 crore to Rs 98 crore. On a quarterly basis, the company saw a 10 percent increase in profits from Rs 89 crore in Q2 FY25.
Written by Shwetha Sairam
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