Jupiter Wagons Limited reports Q3 & 9M FY23 earnings

Jupiter Wagons Limited, formerly Commercial Engineers & Body Builders Co Limited. (CEBBCO), a provider of comprehensive mobility solutions encompassing rail, road and marine transportation has announced its financial results for the Third quarter and Nine months ended on 31st December 2022.

Financial Performance Summary Q3 & 9M FY23 (₹ Lakh):

Business Updates

• Order Book of Rs. 570,283 lakh as on Dec 31, 2022
• Launches e-LCVs – JEM TEZ of 2.2 and EV STAR CC of 7 Ton GVW at the Auto Expo – The Motor Show 2023

Update on JWL-Kovis Joint Venture

• The Foundry is in the final stage and pre-commissioning activities are underway. Production trials are scheduled in March 2023.
• The Machining Centres have been successfully commissioned. Machining production is underway and started supply to cater to existing orders from Indian Railways.
• 3D Co-ordinate Measurement Machine for high precision inspection has been commissioned.

Commenting on the results, Mr. Vivek Lohia, Managing Director of Jupiter Wagons Ltd. says, “We are pleased to report revenues of Rs. 64,443 Lakh in Q3FY23, higher by 116 percent on a year-on-year basis. Growth momentum remains strong in established businesses as we are steadily ramping up monthly wagon production and witnessing improving traction in our business line of truck bodies. We are focused on scaling up newer business lines of high-speed braking and container manufacturing. EBITDA was higher by 239 percent to Rs. 8,261 Lakh while the EBITDA margin expanded by 470 bps to 12.8 percent.

The launch of our Electric LCV at the Auto Expo in New Delhi was met with a very favourable response, expected to commercially launch by Q3 2024 and we are in discussion with several potential partners to strengthen our market reach. We are making steady progress towards further enhancing the breadth and diversity of our portfolio that encompasses comprehensive mobility solutions.” He added, “We continue to enjoy high visibility of growth on the back of a robust order backlog. The outlook is favourable in view of the ambitious targets by the Indian Railways.”

For more info visit : https://jupiterwagons.com/

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