Jupiter Wagons reports stellar Q1FY24 earnings

11 Aug 2023 CW Team

Jupiter Wagons (formerly Commercial Engineers & Body Builders (CEBBCO), a provider of comprehensive mobility solutions encompassing rail, road and marine transportation has announced its financial results for the first quarter ended on June 30, 2023.

Performance highlights:

Revenue for Q1FY24 stood at Rs 75,319 lakh, up 155% (YoY),

EBITDA for Q1 FY24 at ₹ 9,956 lakh, up 217% (YoY), EBITDA margin improves to 13.2% from 10.6%

Continued to deliver industry leading margin of 13.2%

PAT for Q1 FY24 stood at Rs 6,360 lakh, up 374% (YoY), PAT Margin 8.4%

EPS for the quarter is Rs 1.62 per share 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 endeavour to rapidly restore the operational momentum. The container business is witnessing high interest in specialised 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 favourable, and the company's primary focus is on creating enduring value for all stakeholders.

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