Jupiter Wagons Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹8,223 Cr
- P/E
- 46.22
- ROE
- 6.37%
- PEG
- 3.11
- Price to sales
- 2.63
- Debt to equity
- 0.33
- 52W high / low
- ₹348 / ₹173
- Sales growth (5Y)
- 23.97%
- EBITDA margin
- 11.49%
- Net profit margin
- 6.08%
- Promoter holding
- 68.31%
- Sales (last year)
- ₹3,127 Cr
Commercial Engineers & Body Builders Company Ltd (CEBBCO) is primarily involved in the business of manufacturing metal fabrication comprising load bodies for commercial vehicles, rail freight wagons, and components. [1]
Guidance scorecard · Q1 FY27 call
What Jupiter Wagons Ltd's management guided
and where it ranks in Industrial Manufacturing
Industrial Manufacturing
RevenueQ1 FY27 call
20–40%- FY27 started strong with 46% YoY revenue growth to INR 671 crore and 9% EBITDA growth.
- Expect significant order book execution in FY27, with 60-70% of current orders to be completed.
- Wagon production volumes to increase in next 3 quarters after Q1 transition phase.
- Odisha railwheel facility to reach partial production by Q4 FY27 and full commissioning by FY28.
- Target revenue from new Odisha facility expected between INR 2,500 to 3,000 crore post full capacity.
- Wheelset line commissioning planned in FY28, with 50% capacity for captive use and 50% for exports.
- BESS business targeting INR 1,000 crore order book by FY27, with strong growth in energy storage.
2 more points from Jupiter Wagons Ltd's call on revenue
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MarginsQ1 FY27 call
Up 0–2%See what Jupiter Wagons Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Odisha railway wheelset facility: Total project capex INR 2,600 crore; Jupiter's equity infusion reduced from INR 900 crore to INR 600 crore due to new partner Lucchini RS and Italian government financial institute SIMEST investing ~INR 300 crore.
- Majority of Odisha plant capex expected to be completed by Q1 FY28.
- Lucchini RS and SIMEST partnership includes INR 290 crore investment for 25% stake in Jupiter Tatravagonka Railwheel Factory (JTRWF).
- Investments focus on technology, manufacturing expansion, and strengthening global competitiveness in railwheel production.
2 more points from Jupiter Wagons Ltd's call on capex
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FundraisingQ1 FY27 call
See what Jupiter Wagons Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Current order book is approximately INR4,500 crore.
- Railway wagon order book (including private sector) stands at around INR3,000 crore.
- Wheelset business order book is about INR700 crore.
- Commercial vehicle segment order book is approximately INR500 crore.
- Battery Energy Storage Systems (BESS) order book stands at around INR500 crore.
- Majority (60%-70%) of the order book is expected to be executed in FY27.
- Pending wagons as of Q1 FY27 are close to 7,000 units.
2 more points from Jupiter Wagons Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Manufacturing
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Manufacturing companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹1,207 Cr | 111.0 | |
| 2 | 40%+ | Up 0–2% | ₹549 Cr | 33.8 | |
| 3 | 40%+ | Flat | ₹8,076 Cr | 94.4 | |
| 4 | 40%+ | Flat | ₹3,732 Cr | 81.2 | |
| 5 | 40%+ | Flat | ₹2,580 Cr | 61.2 | |
| 6 | 40%+ | Flat | ₹743 Cr | 43.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Manufacturing rankingJupiter Wagons Ltd announcements
All announcements →Financials of Jupiter Wagons Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Jupiter Wagons Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 644 | 712 | 753 | 879 | 896 | 1,113 | 895 | 974 | 1,000 | 1,002 | 411 | 707 | 776 |
| Expenses + | 564 | 619 | 656 | 758 | 771 | 965 | 766 | 840 | 859 | 857 | 360 | 619 | 682 |
| Operating Profit | 81 | 93 | 97 | 121 | 125 | 148 | 129 | 133 | 141 | 145 | 51 | 88 | 94 |
| OPM % | 13% | 13% | 13% | 14% | 14% | 13% | 14% | 14% | 14% | 14% | 12% | 12% | 12% |
| Other Income + | 2 | 1 | 2 | 5 | 5 | 8 | 7 | 8 | 11 | 9 | 14 | 8 | 8 |
| Interest | 7 | 9 | 8 | 10 | 11 | 11 | 12 | 15 | 13 | 14 | 13 | 16 | 15 |
| Depreciation | 6 | 6 | 7 | 7 | 7 | 7 | 7 | 8 | 8 | 8 | 9 | 9 | 9 |
| Profit before tax | 69 | 79 | 85 | 109 | 111 | 139 | 117 | 118 | 131 | 131 | 43 | 71 | 78 |
| Tax % | 33% | 48% | 25% | 25% | 25% | 25% | 24% | 25% | 26% | 26% | 23% | 26% | 25% |
| Net Profit + | 46 | 41 | 64 | 82 | 83 | 104 | 89 | 89 | 98 | 97 | 33 | 53 | 58 |
| EPS in Rs | 1.20 | 1.05 | 1.59 | 2.04 | 2.02 | 2.53 | 2.16 | 2.09 | 2.31 | 2.29 | 0.77 | 1.24 | 1.36 |
Financials of Jupiter Wagons Ltd
Profit & Loss
Annual income statement trend
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 138 | 118 | 107 | 105 | 97 | 216 | 126 | 996 | 1,178 | 2,068 | 3,641 | 3,871 | 2,896 |
| Expenses + | 160 | 202 | 120 | 104 | 97 | 204 | 124 | 889 | 1,064 | 1,814 | 3,150 | 3,323 | 2,519 |
| Operating Profit | -21 | -84 | -13 | 2 | 0 | 12 | 2 | 106 | 114 | 254 | 491 | 548 | 377 |
| OPM % | -15% | -71% | -12% | 2% | 0% | 6% | 2% | 11% | 10% | 12% | 13% | 14% | 13% |
| Other Income + | 3 | 2 | -53 | 0 | 1 | 109 | 10 | 2 | 3 | 5 | 21 | 34 | 38 |
| Interest | 19 | 22 | 21 | 27 | 28 | 22 | 6 | 21 | 18 | 29 | 41 | 53 | 58 |
| Depreciation | 30 | 20 | 15 | 10 | 10 | 10 | 8 | 21 | 23 | 25 | 28 | 31 | 34 |
| Profit before tax | -68 | -123 | -101 | -36 | -37 | 89 | -3 | 66 | 76 | 205 | 444 | 498 | 323 |
| Tax % | 4% | -17% | 4% | 0% | 0% | 0% | -95% | 19% | 34% | 39% | 25% | 25% | |
| Net Profit + | -70 | -103 | -105 | -36 | -37 | 89 | -0 | 54 | 50 | 125 | 333 | 373 | 241 |
| EPS in Rs | -12.82 | -18.66 | -19.07 | -6.48 | -6.72 | 9.91 | -0.02 | 5.98 | 5.59 | 3.24 | 8.07 | 8.79 | 5.66 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 15% | 7% | 15% |
Financials of Jupiter Wagons Ltd
Balance Sheet
Capital structure and asset base
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 55 | 55 | 55 | 55 | 55 | 89 | 89 | 387 | 387 | 387 | 412 | 424 | 424 |
| Reserves | 151 | 49 | -56 | -85 | -122 | 6 | 6 | 246 | 296 | 421 | 1,210 | 2,327 | 2,370 |
| Borrowings + | 136 | 149 | 161 | 163 | 172 | 42 | 50 | 138 | 139 | 288 | 338 | 394 | 590 |
| Other Liabilities + | 82 | 70 | 76 | 93 | 104 | 71 | 54 | 220 | 250 | 542 | 836 | 725 | 573 |
| Total Liabilities | 423 | 323 | 236 | 225 | 209 | 209 | 200 | 991 | 1,073 | 1,639 | 2,796 | 3,871 | 3,957 |
| Fixed Assets + | 289 | 215 | 159 | 145 | 135 | 113 | 111 | 416 | 426 | 463 | 518 | 582 | 581 |
| CWIP | 14 | 14 | 2 | 2 | 2 | 0 | 6 | 21 | 22 | 26 | 29 | 45 | 72 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 10 | 16 | 452 | 1,093 | 1,130 |
| Other Assets + | 120 | 94 | 75 | 78 | 72 | 95 | 83 | 550 | 615 | 1,133 | 1,796 | 2,151 | 2,174 |
| Total Assets | 423 | 323 | 236 | 225 | 209 | 209 | 200 | 991 | 1,073 | 1,639 | 2,796 | 3,871 | 3,957 |
Financials of Jupiter Wagons Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 71 | 9 | 4 | 6 | -1 | 9 | -15 | 67 | 60 | 73 | -6 | 200 |
| Cash from Investing Activity + | -48 | -9 | 0 | 0 | 0 | -1 | -13 | -60 | -49 | -119 | -487 | -803 |
| Cash from Financing Activity + | -46 | -7 | -9 | -5 | 4 | 12 | 7 | 22 | -17 | 121 | 489 | 762 |
| Net Cash Flow | -23 | -7 | -5 | 0 | 3 | 20 | -20 | 30 | -6 | 75 | -4 | 159 |
| Free Cash Flow | 21 | -0 | 4 | 5 | -1 | 8 | -27 | 37 | 23 | 8 | -97 | 91 |
| CFO/OP | -334% | -13% | -35% | 358% | -1,217% | 77% | -701% | 66% | 54% | 32% | 21% | 57% |
Financials of Jupiter Wagons Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 62 | 50 | 42 | 54 | 26 | 30 | 32 | 26 | 22 | 38 | 47 | 76 |
| Inventory Days | 105 | 58 | 43 | 30 | 43 | 30 | 174 | 120 | 130 | 114 | 117 | 86 |
| Days Payable | 90 | 128 | 151 | 153 | 120 | 52 | 126 | 70 | 58 | 46 | 57 | 53 |
| Cash Conversion Cycle | 77 | -21 | -67 | -69 | -51 | 8 | 80 | 77 | 94 | 106 | 107 | 109 |
| Working Capital Days | -100 | -189 | -280 | -451 | -737 | -11 | 0 | 34 | 44 | 26 | 45 | 58 |
| ROCE % | -13% | -34% | -13% | -6% | -8% | 2% | -2% | 19% | 12% | 24% | 32% | 21% |
Guidance history
How Jupiter Wagons Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Up 0–2% | Planned | — | Rising |
| Q4 FY26 call → | 20–40% | Flat | Planned | — | Flat |
| Q3 FY26 call → | 20–40% | Flat | Planned | — | — |
| Q2 FY26 call → | 20–40% | Flat | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
4 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −41.3% | 10% |
| Last 6 months | −31.9% | 6% |
| Last 3 months | −25.5% | 6% |
The price is 73.6% below its all-time high of ₹730.15 (5 Jul 2024). Stocks more than 20% below their peak have their score halved, so 8 became 4.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Jupiter Wagons Ltd: 0.4 × 10 + 0.4 × 6 + 0.2 × 6 = 8, halved to 4 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Jupiter Wagons Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q4 FY25 earnings call analysis →
- Q1 FY26 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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