Jupiter Wagons Ltd witnessed a notable surge in its shares during Monday’s trading session, with a sharp 7.42% increase following the company’s announcement of an interim dividend for the financial year 2023-24. The private rail firm declared a dividend of 30 paise per equity share of Rs 10 each fully paid up.
Details of the Dividend: The dividend payment is scheduled on or before March 19, 2024, with February 20, 2024, fixed as the record date.
Q3 FY24 Financial Performance: Jupiter Wagons reported a robust Q3 FY24 performance, with a profit after tax reaching Rs 83.40 crore, reflecting a significant YoY growth of 79.8%. Total income for the quarter stood at Rs 900.81 crore, marking a 39.4% YoY increase. The EBITDA for Q3 FY24 was Rs 124.80 crore, up by 54.7% YoY, and the EBITDA margin improved by 140 basis points from 12.5% in Q3 FY23 to 13.9% in Q3 FY24.
Key Highlights and Orders: The quarter was eventful for Jupiter Wagons, marked by substantial order wins totaling over Rs 2,200 crore from both government and private customers. This included a significant Rs 1,617 crore order from Indian Railways, a Rs 473 crore order from the Defence Ministry, and a Rs 100 crore order from an automotive major for four sets of double-decker automotive carrier wagons. Additionally, an order valued at Rs 112 crore for axle-mounted brake disc systems was received in the joint venture company JWL DAKO CZ India. The aggregate order backlog now stands at Rs 7,076 crore, according to Vivek Lohia, Managing Director at Jupiter Wagons.
Technical Analysis and Market Indicators: On technical charts, Jupiter Wagons’ stock was observed trading higher than various moving averages, including the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs). The 14-day relative strength index (RSI) came in at 56.70, indicating a balanced trading zone.
Valuation and Market Ratios: The stock has a price-to-equity (P/E) ratio of 56.43 and a price-to-book (P/B) value of 14.39.
About the Company: Jupiter Wagons is a provider of comprehensive mobility solutions encompassing rail, road, and marine transportation. The company has a notable presence in the commercial electric vehicle (CEV) segment.
