Revenue and Profit Growth
Over the five-year period ending March 2025, Jupiter Wagons’ net sales surged from ₹995.75 crores in FY21 to ₹3,963.28 crores in FY25, nearly quadrupling its top line. This remarkable growth was accompanied by a consistent rise in operating profit (PBDIT), which increased from ₹108.16 crores in FY21 to ₹621.89 crores in FY25. The operating profit margin improved steadily, reaching 14.57% in FY25 compared to 10.68% in FY21, indicating enhanced operational efficiency.
Profit after tax (PAT) also saw a substantial rise, climbing from ₹53.47 crores in FY21 to ₹392.19 crores in FY25. Correspondingly, the PAT margin expanded from 5.36% to 9.59%, reflecting stronger bottom-line performance. Earnings per share (EPS) followed this upward trend, rising from ₹1.38 in FY21 to ₹9.00 in FY25, signalling increased shareholder returns.
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Cost Structure and Margins
The company’s raw material costs rose in line with revenue, from ₹739.63 crores in FY21 to ₹3,086.34 crores in FY25, reflecting the scale of operations. However, the increase in other expenses and employee costs was proportionally lower, supporting margin expansion. Notably, the company reported no power or selling and distribution expenses, which may indicate operational efficiencies or accounting classifications.
Interest expenses increased moderately from ₹21.12 crores in FY21 to ₹60.42 crores in FY25, consistent with the company’s growing scale and financing needs. Despite this, gross profit before depreciation and tax (PBDT) rose significantly, underscoring strong core profitability.
Balance Sheet Strength and Asset Growth
Jupiter Wagons’ total assets expanded from ₹938.06 crores in FY21 to ₹3,999.11 crores in FY25, driven by investments in fixed assets and working capital. The net block of fixed assets more than doubled, reaching ₹932.16 crores in FY25, while capital work in progress also increased, signalling ongoing capacity expansion.
Shareholders’ funds grew substantially from ₹633.00 crores in FY21 to ₹2,754.30 crores in FY25, supported by rising reserves. Book value per share improved markedly from ₹16.34 to ₹64.09 over the same period, reflecting enhanced net worth and value creation for investors.
Liabilities and Debt Profile
Total liabilities increased in line with asset growth, reaching ₹3,999.11 crores in FY25 from ₹938.06 crores in FY21. Long-term borrowings fluctuated but remained relatively modest at ₹27.08 crores in FY25. Short-term borrowings rose to ₹457.12 crores, indicating increased working capital requirements. The company’s total debt increased from ₹137.26 crores in FY21 to ₹484.20 crores in FY25, a reflection of its expansion strategy.
Cash Flow Trends
Operating cash flow showed variability, with a negative cash flow in FY24 but a positive ₹104 crores in FY25. Investing activities consistently reflected outflows due to capital expenditure, peaking at ₹627 crores in FY25. Financing activities provided strong inflows, particularly in FY25 with ₹841 crores, supporting the company’s growth and capital investments. The closing cash and cash equivalents rose significantly to ₹440 crores in FY25, indicating improved liquidity.
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Summary of Historical Performance
Jupiter Wagons has exhibited a strong upward trajectory in financial performance over the last five years. The company’s revenue and profitability have grown substantially, supported by efficient cost management and expanding operations. Its balance sheet has strengthened with increased net worth and asset base, while debt levels have risen moderately to fund growth initiatives. Cash flow patterns reflect active investment and financing activities aligned with expansion plans.
Overall, Jupiter Wagons’ historical performance highlights its successful scaling and improving financial health, positioning it as a noteworthy player in the industrial manufacturing sector with growing shareholder value.
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