Revenue from operations fell 13.54% YoY to Rs 890.36 crore in the quarter ended 31 December 2025.

Profit before tax declined 33.09% to Rs 86.82 crore in Q3 FY26, compared with Rs 129.60 crore recorded in the corresponding quarter last year.

EBITDA stood at Rs 116 crore in Q3 FY26, down 22.4% YoY. EBITDA margin declined to 13% in Q3 FY26 as against 14.4% posted in Q3 FY25.

As of 31st Decemeber 2025, the company's order book stands at Rs 5,041 crore.

Vivek Lohia, Managing Director of Jupiter Wagons, said, 'During Q3 FY26, the Company witnessed further improvement in performance with consolidated revenues of Rs 890 crore, representing a sequential growth of 13% quarter-on-quarter compared to Q2 and Consolidated EBITDA increasing by 11% QoQ to Rs 116 crore, reflecting stable execution and operational resilience despite ongoing industry headwinds.

For the nine months ending December 2025, consolidated revenues were Rs 2,136 crore, with EBITDA of Rs 279 crore and Profit After Tax of Rs 139 crore. On the supply side, while wheelset supply has improved from its peak shortage in first few months of the year, Industry continues to face constraints in wheelsets supply chain affecting wagon production and dispatch cycles which is expected to continue for next few quarters till the time our integrated wheelsets plant commences operation, which is expected by end of year, thereby helping in securing steady supply and production levels. Despite these near-term challenges, Jupiter continues to maintain healthy order books, especially from private customers, underlining strong customer confidence. The policy environment remains supportive.

The announcement of a new freight corridor in the Union Budget and railway ministry maintaining its procurement estimates at approx. 32,000 wagons reinforces the long-term demand for freight rolling stock and associated components. Within the railways segment, in addition to freight wagons, we continue to witness steady growth in our products like Wheelsets, Brake Discs, CMS Crossing etc, and are actively pursuing opportunities to enhance our share in the Passenger Segment In addition, recent positive developments towards strengthening trade agreements with the EU and the US are expected to open up sizeable export opportunities for Indian railway engineering products'particularly in high-value components such as wheelsets, brake discs, and allied systems'where we are well positioned to target European and other international market through our JVs, subsidiaries and global partnerships.

Our commercial vehicle and container sales recorded healthy growth during the year and following the recent PLI announcement and Rs 10,000 Crore budgetary allocation, segment is well positioned for accelerated growth over the coming years. Jupiter, being one of the leading manufacturers for containers, is well positioned to benefit from these initiatives. Our wheelsets business is witnessing steady growth and has healthy orderbook for wheelsets and Axle supply across different applications - Freight wagons, LHB coaches, Metro applications, Vande Baharat train, etc.

The Odisha railwheel facility'a key structural initiative aimed at addressing this constraint'is progressing as planned and is expected to commence production by year-end. This will materially enhance supply chain resilience and support higher throughput across both wagon and component manufacturing. Our Battery business, especially the Battery Energy Storage Systems (BESS) segment gained further traction, reflected in initial deployments and incremental additions to the order book.

We have commissioned an additional cell-to-battery manufacturing line in Indore, thereby increasing our capacity to meet the growing demand opportunities. Looking ahead, Company is also preparing for a entry into the passenger rolling stock segment and is in advance stage of engagement with a leading European partner, further details of which shall be shared at an appropriate time.

While near-term challenges persist due to supply chain constraints, our fundamentals remain strong. With healthy order book, policy tailwinds, diversified business and strategic capacity expansion underway we remain confident about the Company's long term growth trajectory and are well placed to leverage opportunities across both domestic and global markets to scale our business and drive sustained, long-term value creation.'

Jupiter Wagons (JWL) is a provider of comprehensive mobility solutions, with diverse offerings across Freight Wagons, Locomotives, Passenger Coaches (LHB), Braking Systems, Metro Coach, Commercial Vehicles, ISO Marine Containers, and products such as Couplers, Draft Gears, Bogies, and CMS Crossings, Brake Disc, Brake System, Wheels, Axles and Wheel sets.

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