JWLCapital Goods

Jupiter Wagons Limited

Railway Wagons · ISIN INE209L01016 · BSE 533272 · NSE EQ · FV ₹10
Last price
₹231
+1.12%today
What this company does

Jupiter Wagons Limited operates in Railway Wagons, part of the Capital Goods sector. It booked ₹671 cr of revenue in its latest quarter (Q1 FY27) and kept 4.2% of sales as profit. It is the 2nd largest of 3 Railway Wagons companies we track, by market value.

The Company is engaged in the business of manufacturing railway wagons, wagon components, Sale of goods castings, metal fabrication comprising load bodies for Revenue arises mainly from the sale of goods.
In the report:
36out of 100
Equitytale Health Score
Strained

Healthier than 36% of companies in Capital Goods, on all six measures of filed financials. Each measure is ranked against the 77–113 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
32

At close. Not part of the score.

Profitability & returns12

How much profit it earns on the money it employs

Balance sheet23

How much it owes, and whether earnings cover the interest

Cash quality28

Whether reported profit actually arrives as cash

Growth & consistency51

Whether sales and profit have grown, and how steadily

Valuation46

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Some things to watch
Strengths
Makes a profit
Sales up 46% vs last year
Promoters hold 68%
No promoter shares pledged
Watch-outs
! Thin 4.2% net margin
! Profit down 14% vs last year
! Low 3.8% return on equity
! Operating cash flow is negative

What if I invest in JWL?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹231 +1.12%
latest close · 2026-09-17
1-year return
+631.7%
52-wk low ₹3052-wk high ₹270
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio87.6High
LowAverageHigh
P/B ratio3.32High
Below bookModerateHigh
EV / EBITDA35.8High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity3.8%Weak
WeakFairStrong ▸15%
Return on capital6.6%Weak
WeakFairStrong
Net margin4.2%Thin
ThinDecentStrong
EBITDA margin11.0%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.31Comfortable
LowModerateHigh ▸1
Interest cover3.2×Okay
RiskyOkayStrong ▸5×
Current ratio2.00Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹9,882 cr
Book value
₹70
EPS
₹0.66
latest quarter
Net debt
₹721 cr
owes more than its cash
Enterprise value
₹10,603 cr
EBITDA
₹296 cr
annualised
EBIT
₹222 cr
annualised
Operating margin
8.3%
Return on assets
2.4%
Earnings yield
1.14%
P/S
3.68
Sales / share
₹62.8
Tax rate
33.0%
Face value
₹10
Shares
42.7 cr
Working capital
₹1,354 cr
Current assets
₹2,709 cr
Current liabilities
₹1,355 cr
Delivery %
36.7%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2024 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹65₹79, midpoint ₹72

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹671 cr
Other Income₹9 cr
Total Income₹680 cr
Cost of Materials₹528 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-34 cr
Employee Benefit Expense₹26 cr
Finance Costs₹17 cr
Depreciation & Amortisation₹19 cr
Other Expenses₹86 cr
Total Expenses₹642 cr
Profit before Tax₹38 cr
Tax Expense₹12 cr
Share of JV / Associates₹76.8 L
Net Profit₹26 cr
Net margin on total income3.9%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹494 cr72.5%
Employee benefit expense₹26 cr3.8%
Finance costs₹17 cr2.6%
Depreciation & amortisation₹19 cr2.7%
Other expenses₹86 cr12.7%
Tax expense₹12 cr1.8%
Profit for the period₹26 cr3.8%
Total income ₹680 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue890 cr780 cr671 cr
Total income900 cr789 cr680 cr
Expenses810 cr731 cr642 cr
Profit before tax90 cr51 cr38 cr
Tax24 cr19 cr12 cr
Net profit (owners' share)62 cr29 cr28 cr
Net margin (owners' share, on revenue)7.0%3.7%4.2%
EPS (₹)1.330.670.66
YoY (latest quarter): total income +42.8% · net profit -13.6%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹4,712 cr
Shareholder equity
₹2,978 cr
parent shareholders
Total debt
₹938 cr
Cash
₹217 cr
Cash flow · H1 FY26
Operating
₹-122 cr
Investing
₹-115 cr
Financing
₹161 cr
Peer comparison
Railway Wagons · by market value
CompanyPriceMarket capP/E
TITAGARH RAIL SYSTEMS LIMITED₹827₹11,138 cr52.9
Jupiter Wagons Limitedthis company₹231₹9,882 cr87.6
Texmaco Rail & Engineering Limited₹112₹4,544 cr22.7
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
trailing 12 months
Dividend / share (TTM)
Last dividend
₹1
ex 30 May 2025
ActionDetailEx-date
Dividend₹1 / share30 May 2025
Dividend₹1 / share7 Oct 2024
Dividend₹0.3 / share5 Sep 2024
Dividend₹0.3 / share29 Feb 2024
Dividend₹0.5 / share12 Sep 2023
Who owns it · 2026-06-30
No pledge
Promoter
68.3%
FII / Foreign
3.5%
DII / Domestic
0.8%
Retail / others
27.4%
Promoter stake down 1.8% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtTATRAVAGONKA A.S. · Promoters7.25 cr29 May 22
BoughtMURARI LAL LOHIA HINDU UNDIVIDED FAMILY · Promoters27.72 L29 May 22
BoughtMURARI LAL LOHIA · Promoters1.39 cr29 May 22
Bulk / block deals
short · NSE19 Sep 26
short · NSE1227 Aug 26
short · NSE4526 Aug 26
Stake changes
BoughtTatravagonka · promoter→ 19.24% · 28.72 L19 Dec 25
Promoter pledges
ReleasedAvendus Finance Ltd2.33 cr · 45.45% held20 Aug 20
PledgedAvendus Finance Lender Vistra ITCL1.71 cr · 45.45% held5 Mar 19
PledgedAvendus Finance lender and Vistra ITCL India Ltd61.27 L · 45.45% held31 Jan 19
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 21 Feb 2026
See the official result
1
Appointment of Mr. Mark Damian Stevenson as Non-Executive Director of the Company.
Backed by 98% of shareholders other than promotersneeded 50%
2.02 cr votes for, 3.39 L against · 2% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 13 named members
owning 68.3% between them · as of 2026-06-30
KARISMA GOODS PRIVATE LIMITED20.96%
TATRAVAGONKA A.S.19.24%
JUPITER METAL SPRING PRIVATE LIMITED10.15%
ANISH CONSULTANTS & CREDITS PVT LTD3.59%
MURARI LAL LOHIA3.57%
JUPITER FORGINGS AND STEEL PVT LTD3.50%
VIKASH LOHIA2.67%
VIVEK LOHIA1.82%
Business done with them
FY2025 · 7 of the group
The company paid ₹14 cr to companies in the promoter group last year — about 0.4% of its ₹3,963 cr revenue and received ₹34 L back from them.
Vivek Lohia
Other payments to them · Salaries and bonus including contributions made to provident fund
also owns 1.82% of the company
₹6 cr
company paid
KARISMA GOODS PRIVATE LIMITED
Other payments to them · Consultancy charges, Advance given.
also owns 20.96% of the company
₹3 cr
company paid
Vikash Lohia
Other payments to them · Salaries and bonus including contributions made to provident fund
also owns 2.67% of the company
₹2 cr
company paid
KARISMA GOODS PRIVATE LIMITED
Contribution made to them · Consultancy charges, Advance given.
also owns 20.96% of the company
₹2 cr
company paid
Murari Lal Lohia
Other payments to them · Rent charges, Consultancy charges, Rent paid, Advance against expenses
also owns 3.57% of the company
₹54.7 L
company paid
Ritu Lohia
Other payments to them · Salaries and bonus including contributions made to provident fund
also owns 0.34% of the company
₹48 L
company paid
ANISH CONSULTANTS & CREDITS PVT. LTD.
Other income from them · Interest income
also owns 3.59% of the company
₹33 L
company received
Murari Lal Lohia
Contribution made to them · Rent charges, Consultancy charges, Rent paid, Advance against expenses
also owns 3.57% of the company
₹31.6 L
company paid
Murari Lal Lohia
Leases As Lessee · Rent charges, Consultancy charges, Rent paid, Advance against expenses
also owns 3.57% of the company
₹24 L
company received
Murari Lal Lohia
Leases As Lessor · Rent charges, Consultancy charges, Rent paid, Advance against expenses
also owns 3.57% of the company
₹24 L
company received
Samir Kumar Gupta
Contribution received from them · Salaries and bonus including contributions made to provident fund,Advances to employee,Employee related payable
₹1 L
company received

The company also transacted with 18 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹403 cr raised in Dec 2023 by selling shares to large investors

As of Jun 2026, the company says it has spent 89% of what it set aside, leaving ₹44 cr still to be spent. Care Ratings Limited watches the spending on the exchange’s behalf.

Setting up a new captive alloy steel foundry unit at Jabalpur, Madhya Pradesh;
now filed as: Yes Capacity expansion of existing alloy steel foundry at Bandel
13%
₹6 cr of ₹50 cr
Funding working capital requirements
100%
₹215 cr of ₹215 cr
Funding inorganic growth and general corporate purposes
100%
₹129 cr of ₹129 cr
₹135 cr raised in Dec 2025 by selling shares to selected investors

As of Mar 2026, the company says it has spent 100% of what it set aside. Care Ratings Limited watches the spending on the exchange’s behalf.

Investment in Subsidiary – For Investment in one of the subsidiaries, namely Jupiter Tatravagonka Railwheel Factory Private Limited (Formerly Bonatrans India Private Limited) for the purposes of its working capital requirements.
100%
₹135 cr of ₹135 cr
Spent by quarter: 25%100% (to Mar 2026)

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.