Jupiter Wagons secures over Rs 956 crore order from Ministry of Railways; stock jumps 9%
"Ministry of Railways (Railway Board), vide its Letter No. 2024/RS(I)/954/1 TC dated March 6, 2024, has placed an offer to the Company for the manufacture and supply of 2,237 numbers of BOSM Wagons for a contract value of Rs. 956,87,67,500/-," the filing read.
Shares of Jupiter Wagons on March 7 jumped over 9 per cent in the morning deals, a day after the company bagged an order worth over Rs 956 crore from the Ministry of Railways.
"Ministry of Railways (Railway Board), vide its Letter No. 2024/RS(I)/954/1 TC dated March 6, 2024, has placed an offer to the Company for the manufacture and supply of 2,237 numbers of BOSM Wagons for a contract value of Rs. 956,87,67,500/-," the filing read.
At around 10:31 a.m., shares of Jupiter Wagons traded 5.53 per cent, or Rs 20, higher at Rs 381.9 apiece. The market capitalisation of the company at around the same time stood at Rs 15,648.6 crore.
Jupiter Wagons Q3 numbers
Jupiter Wagons Ltd reported a consolidated net profit of Rs 81.46 crore during the third quarter of the current fiscal, up by 82 per cent from Rs 44.59 crore logged in the corresponding period last year.
The revenue from operations was Rs 895 crore during the October–December period of the 2023–24 financial year (FY'24) as compared to Rs 879 crore in the year-ago quarter, the company said in a regulatory filing.
The wagon maker stated that its EBITDA margin expanded by 140 basis points. The order book stood at over Rs 7,000 crore, it said.
The company closed a qualified institutional placement (QIP) in December 2023, raising Rs 403 crore that provides the necessary fuel for ambitious growth plans, including setting up a foundry, working capital requirements, and backward integration through inorganic growth, the Kolkata-based mobility major said.
Jupiter Wagons share price: Past performance
In a year, shares of Jupiter Wagons gained 195 per cent, outperforming the Nifty50's rise of over 25 per cent.
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