Shares of this midcap company jumps around 4 percent in Wednesday’s trading session after FII bought a stake worth approx Rs. 214 crores via bulk deal. In one year, the shares have delivered a whooping 330 percent returns to its shareholders.
Price Movement:
With a market capitalization of Rs. 28,030 crores, the shares of Jupiter Wagons Ltd started Wednesday’s trading session on a higher note at Rs. 662 compared to its previous close of Rs. 656.45. During the trading session, the shares hit a high of Rs. 685, gaining around 4 percent and are currently trading at Rs. 678 apiece.
What Happened:
According to the NSE bulk deals, Copthall Mauritius Investment bought over 32.79 lakh equity shares i.e., equivalent to 0.80 percent of paid-up equity of the company at an average price of Rs. 652 per share via open market transactions, which amounted to approx Rs 214 crores. The identities of the sellers were undisclosed.
Financials:
Looking at the company’s financial performance, the revenue increased by 25 percent from Rs. 895.84 crores during the December quarter to Rs. 1,115.41 crores in the March quarter. In addition, the net profits zoomed by 28 percent from Rs. 81.46 crores to Rs. 104.63 crores during the same period.
Order Book:
As of 31st March 2024, the company has an order book of Rs. 7,10,166 lakh ( Rs. 7,101.60 crores). The company won orders from both public and private sector customers including the Ministry of Railways and the Ministry of Defence.
Earlier, in March 2024, the company secured a contract from the Ministry of Railways for the manufacturing and supply of 2,237 BOSM Wagons aggregating to Rs. 957 crores.
Future Plans:
The company intends to establish manufacturing facilities to fully integrate wheelset production. Moreover, they anticipate substantial improvements in execution and performance throughout FY 2025. Additionally, the railway company is expecting significant order books from global tenders after the elections.
Important Financial Ratios:
In terms of key financial metrics, the company reported a Return on Equity (RoE) of 20.51 percent and a return on capital employed (RoCE) of 28.81 percent for the period spanning FY23-24. Further, the net profit margin stood at 9.15 percent during the same timeframe.
Company Profile:
Headquartered in Kolkata, Jupiter Wagons Limited (JWL)Limited is engaged in the business of manufacturing metal fabrication, railway wagons, wagon components, castings, and many more comprising load bodies for commercial vehicles, rail freight wagons, and components.
Written By Vaibhav Patil
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