The shares of this railway freight wagon manufacturer gained up to 5 percent after the company received a receipt of a contract for the manufacturing and supply of 4 rakes of Wagons worth around Rs 100 crores.
With a market capitalization of Rs 14,510.67 crore, the shares of Jupiter Wagons Ltd were trading at Rs 351.95 per share, increasing around 2.73 percent as compared to the previous closing price of Rs 342.60 apiece.
According to the business filing, Jupiter Wagons Ltd obtained a contract from one of the largest automotive manufacturers for the fabrication and delivery of four rakes of double-decker vehicle carrier wagons valued at around Rs 100 crores.
Furthermore, these highest Double Decker Automobile Carrier Wagons will be able to transport SUV models on both the bottom and top decks and will be equipped with innovative technology such as articulated bogies and decreased idle time due to sick wagon substitution.
Looking into the company’s finances, Jupiter Wagons Ltd’s revenue increased by 110 percent from Rs 417 Crore in Q2FY23 to Rs 879 Crore in Q2FY24. During the same period, net profits increased by 228 percent from Rs 25 crore to Rs 82 crore.
Jupiter Wagons Ltd’s wagon manufacturing capacity has been increased to 700 per month at present after the expanded capacity of the foundry is made available, its production capacity will increase to 800 wagons per month.
The company’s new foundry, with a capacity of 2,000 tons, is set to open in Jabalpur over the following 18 months, catering to both domestic usage and exports. This program is projected to result in freight cost reductions.
When it comes to geographic revenue, the company’s revenue in India increased by 75 percent, from Rs 1,177.85 crore in FY2021-22 to Rs 2,065.64 crore in FY2022-23, while revenue outside of India increased by 420 percent, from Rs 0.50 crore in FY2021-22 to Rs 2.60 crore in FY2022-23.
Jupiter Wagon is India’s leading manufacturer of railway wagons, passenger coaches, wagon components, and castings, and is regarded as one of the world’s most recognized makers of innovative railway transportation equipment.
Written by:- Abhishek Singh
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