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Questions and Answers
What was the approximate revenue from operations for Jupiter Wagons in Q3 FY25?
What was the approximate revenue from operations for Jupiter Wagons in Q3 FY25?
By approximately what percentage did Jupiter Wagons' EBITDA grow in Q3 FY25 compared to Q3 FY24?
By approximately what percentage did Jupiter Wagons' EBITDA grow in Q3 FY25 compared to Q3 FY24?
What was the approximate EBITDA margin for Jupiter Wagons in Q3 FY25?
What was the approximate EBITDA margin for Jupiter Wagons in Q3 FY25?
What can be inferred about Jupiter Tatravagonka Railwheel Factory (formerly Bonatrans India) after its acquisition?
What can be inferred about Jupiter Tatravagonka Railwheel Factory (formerly Bonatrans India) after its acquisition?
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Which of the following quantities of specialized containers did Jupiter Wagons supply to Indian Railways in the current nine months of FY25?
Which of the following quantities of specialized containers did Jupiter Wagons supply to Indian Railways in the current nine months of FY25?
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What is the expected timeline for the Joint Ventures (JVs) of Jupiter Wagons to start earning profit, and why?
What is the expected timeline for the Joint Ventures (JVs) of Jupiter Wagons to start earning profit, and why?
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Approximately how many axle boxes did Jupiter Wagons export in the current nine months of FY25?
Approximately how many axle boxes did Jupiter Wagons export in the current nine months of FY25?
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According to the discussion, which company currently stands as the primary competitor in the electric vehicle segment that Jupiter Wagons is entering?
According to the discussion, which company currently stands as the primary competitor in the electric vehicle segment that Jupiter Wagons is entering?
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What is the current annual production capacity for electric vehicles at Jupiter Wagons' manufacturing plant?
What is the current annual production capacity for electric vehicles at Jupiter Wagons' manufacturing plant?
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What is the primary reason Jupiter Wagons Limited approved the Rs. 3,000 crore QIP?
What is the primary reason Jupiter Wagons Limited approved the Rs. 3,000 crore QIP?
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When is the commercial launch of the TEZ vehicle scheduled?
When is the commercial launch of the TEZ vehicle scheduled?
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What is the approximate value of Jupiter Wagons' current private order book for wagons?
What is the approximate value of Jupiter Wagons' current private order book for wagons?
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What is the company's strategic goal regarding wagon revenue contribution by FY28?
What is the company's strategic goal regarding wagon revenue contribution by FY28?
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Looking ahead to the next financial year, what value of private order book does Jupiter Wagons expect to add?
Looking ahead to the next financial year, what value of private order book does Jupiter Wagons expect to add?
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What revenue target is the company aiming for by FY28?
What revenue target is the company aiming for by FY28?
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What is Jupiter Wagons' strategy for revenue mix and growth?
What is Jupiter Wagons' strategy for revenue mix and growth?
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Besides railways, in which other sector has Jupiter Wagons received initial orders for its lithium-ion battery systems?
Besides railways, in which other sector has Jupiter Wagons received initial orders for its lithium-ion battery systems?
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For FY26, what topline revenue is Akash projecting for Jupiter Wagons?
For FY26, what topline revenue is Akash projecting for Jupiter Wagons?
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Which specific business sector is expected to contribute significantly to the company's revenue growth in FY26, alongside wheel, container and brake businesses?
Which specific business sector is expected to contribute significantly to the company's revenue growth in FY26, alongside wheel, container and brake businesses?
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What factor makes it challenging for Jupiter Wagons to accurately project the value of upcoming tenders from Indian Railways?
What factor makes it challenging for Jupiter Wagons to accurately project the value of upcoming tenders from Indian Railways?
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What revenue is the company targeting for FY26?
What revenue is the company targeting for FY26?
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How does Jupiter Wagons plan to leverage a potentially substantial railway budget?
How does Jupiter Wagons plan to leverage a potentially substantial railway budget?
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What information regarding the electric vehicle business is unclear until product deliveries commence?
What information regarding the electric vehicle business is unclear until product deliveries commence?
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What is the primary reason cited for the slow growth in Earnings Per Share (EPS)?
What is the primary reason cited for the slow growth in Earnings Per Share (EPS)?
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Prior to the discussion about the Rs. 3,000 crore QIP, Jupiter Wagons had completed another QIP. What was the approximate value of the earlier QIP?
Prior to the discussion about the Rs. 3,000 crore QIP, Jupiter Wagons had completed another QIP. What was the approximate value of the earlier QIP?
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Besides the Indian Railways, which sector contributes significantly to the order book of Jupiter Wagons?
Besides the Indian Railways, which sector contributes significantly to the order book of Jupiter Wagons?
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What is the significance of Jupiter Wagons already having order confirmations for over 500 TEZ vehicles before the commercial launch?
What is the significance of Jupiter Wagons already having order confirmations for over 500 TEZ vehicles before the commercial launch?
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Why does the management believe EPS will improve?
Why does the management believe EPS will improve?
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How long does management estimate it will take for investments in the wheel sector to mature and begin yielding returns?
How long does management estimate it will take for investments in the wheel sector to mature and begin yielding returns?
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What aspect of its current financial status does Vivek Lohia emphasize to Darshil Pandya regarding Jupiter Wagons?
What aspect of its current financial status does Vivek Lohia emphasize to Darshil Pandya regarding Jupiter Wagons?
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What level of EBITDA margins does the company anticipate maintaining as revenues increase to Rs. 8,000-10,000 crore?
What level of EBITDA margins does the company anticipate maintaining as revenues increase to Rs. 8,000-10,000 crore?
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What is the primary reason Vivek Lohia mentions for seeking an enabling resolution for raising funds?
What is the primary reason Vivek Lohia mentions for seeking an enabling resolution for raising funds?
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According to Vivek Lohia, what funding mix is the company likely to consider for future growth opportunities?
According to Vivek Lohia, what funding mix is the company likely to consider for future growth opportunities?
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What revenue did Jupiter Wagons Limited project for the brake business for the current financial year?
What revenue did Jupiter Wagons Limited project for the brake business for the current financial year?
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Why does Vivek Lohia decline to disclose the cost per kilometer for the 'battery as a service' initiative?
Why does Vivek Lohia decline to disclose the cost per kilometer for the 'battery as a service' initiative?
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What potential risk to Jupiter Wagons' overseas market exposure is Jyothi Ranjan Pandey concerned about?
What potential risk to Jupiter Wagons' overseas market exposure is Jyothi Ranjan Pandey concerned about?
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If Jupiter Wagons has significant growth opportunities that require funding of $100 million, and they decide to use a 30/70 equity/debt mix, how much debt would they need to raise?
If Jupiter Wagons has significant growth opportunities that require funding of $100 million, and they decide to use a 30/70 equity/debt mix, how much debt would they need to raise?
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Jupiter Wagons projects brake business revenue of approximately 250 crore for the financial year. If their actual revenue is 90% of the projected value, what would be the actual revenue?
Jupiter Wagons projects brake business revenue of approximately 250 crore for the financial year. If their actual revenue is 90% of the projected value, what would be the actual revenue?
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If global tariffs increase significantly, potentially impacting Jupiter Wagons' export revenue by 15%, what strategy might the company consider to mitigate this risk?
If global tariffs increase significantly, potentially impacting Jupiter Wagons' export revenue by 15%, what strategy might the company consider to mitigate this risk?
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Vivek Lohia mentions awaiting announcements from the budget. Why is this information critical to the company's projections?
Vivek Lohia mentions awaiting announcements from the budget. Why is this information critical to the company's projections?
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What is Vivek Lohia's response to the analyst's skepticism about achieving the projected revenue growth?
What is Vivek Lohia's response to the analyst's skepticism about achieving the projected revenue growth?
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According to the discussion, what is a key difference between order patterns from the Indian Railways and private sector in the wagon segment?
According to the discussion, what is a key difference between order patterns from the Indian Railways and private sector in the wagon segment?
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What specific detail indicates the potential for a delay in meeting the anticipated demand for wagons?
What specific detail indicates the potential for a delay in meeting the anticipated demand for wagons?
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How does Vivek Lohia address the concern about the potential risks affecting the projected demand of 35,000 to 45,000 wagons per annum?
How does Vivek Lohia address the concern about the potential risks affecting the projected demand of 35,000 to 45,000 wagons per annum?
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What strategy is implied for achieving the revenue target of doubling revenues in the next 3 years?
What strategy is implied for achieving the revenue target of doubling revenues in the next 3 years?
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What is the significance of Indian Railways releasing an order book for three years of execution?
What is the significance of Indian Railways releasing an order book for three years of execution?
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Flashcards
Q3 FY25
Q3 FY25
The third quarter of the fiscal year 2025 for Jupiter Wagons.
EBITDA
EBITDA
Earnings before interest, taxes, depreciation, and amortization, indicating operational profitability.
PAT
PAT
Profit After Tax, which represents net profit for the company after all taxes.
Revenue Growth
Revenue Growth
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Bonatrans India
Bonatrans India
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Brake Discs
Brake Discs
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Operational Excellence
Operational Excellence
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Joint Ventures (JVs)
Joint Ventures (JVs)
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Enabling provision
Enabling provision
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Growth opportunities
Growth opportunities
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Debt and equity mix
Debt and equity mix
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Brake business revenue projection
Brake business revenue projection
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Battery as a service
Battery as a service
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Cost per kilometer
Cost per kilometer
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Global tariff risks
Global tariff risks
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Y-on-Y and Q-on-Q
Y-on-Y and Q-on-Q
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Commercial launch date
Commercial launch date
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TEZ vehicles
TEZ vehicles
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Lithium-ion battery systems
Lithium-ion battery systems
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QIP
QIP
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Rs. 3,000 crore QIP
Rs. 3,000 crore QIP
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Railway budget
Railway budget
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Utilization of funds
Utilization of funds
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Export Market
Export Market
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Revenue Target FY28
Revenue Target FY28
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Revenue Projection FY26
Revenue Projection FY26
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Operating Profit Margin
Operating Profit Margin
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EPS (Earnings Per Share)
EPS (Earnings Per Share)
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Investment in Wheel Business
Investment in Wheel Business
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EBITDA Margin
EBITDA Margin
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Growth Phase
Growth Phase
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Tata electric vehicle
Tata electric vehicle
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Plant capacity
Plant capacity
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Positive margins
Positive margins
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Wagon order book
Wagon order book
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Tender expectations
Tender expectations
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Private order book
Private order book
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FY26 topline
FY26 topline
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Electric mobility segment
Electric mobility segment
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Growth Trajectory
Growth Trajectory
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Current Outlook
Current Outlook
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Revenue Doubling
Revenue Doubling
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Industry Challenges
Industry Challenges
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Order Books
Order Books
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Private Side Orders
Private Side Orders
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Lumpy Orders
Lumpy Orders
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Key Risks in Demand
Key Risks in Demand
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Study Notes
Jupiter Wagons Limited Q3 and 9M FY25 Earnings Conference Call
- Date: January 30, 2025
- Management: Vivek Lohia (Managing Director), Sanjiv Keshri (CFO)
- Q3 FY25 Revenue: Rs. 1,029 crore (15% YoY increase)
- Q3 FY25 EBITDA: Rs. 148 crore (19.5% YoY increase), 14.4% margin
- Q3 FY25 PAT: Rs. 97 crore (18.4% YoY increase), 9.2% margin
- Q3 FY25 EPS: Rs. 2.29 per share
- Order Book (Dec 31, 2024): Rs. 6,320 crore
- Jupiter Tatravagonka Acquisition: Successful commercialization, expected revenue doubling in FY25 and further doubling in FY26.
- Electric Mobility (JEM): Acquired Log9 Technology, 75% stake in subsidiary Jupiter Electric Mobility. Introduced Battery-as-a-Service. Launching new vehicles by Feb. 2025, with >500 order confirmations
- Wheel Business: Rs. 225 crore turnover achieved, significant improvement from prior year. Projected Rs. 300+ crore FY25 turnover.
- Railway Business: Strong order book. Current projections for substantial railway orders in FY26.
- QIP: Rs. 3,000 crore QIP is an enabling resolution, not an immediate fundraise.
- Target Revenue (FY26): Rs. 5,000 crore
- Overall Outlook: Growth expected in wheel, container, brake, and electric mobility segments. Long-term vision to reduce wagon segment's contribution to overall revenue.
- Challenges: Lumpy nature of railway orders.
- Expected Order Cycle: 4-6 months
Investor Questions & Answers
- Specific questions on order books, margins, and profitability for the forthcoming financial year were discussed.
- Investor inquiries included the company's strategy to increase profits considering increasing competition and increasing investment in non-wagon segments (such as wheels, containers).
- Investor inquiries focused on the impact of the global economy on sales.
- Major concerns for investors were potential risks and delays in securing large orders, especially from Indian Railways.
- A consistent theme was the company's vision to reduce wagons, to less than 50% of the revenue share in the long term.
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Description
Highlights from Jupiter Wagons Limited's Q3 FY25 earnings call. Key points include a 15% YoY revenue increase, strong EBITDA and PAT growth, and a robust order book. The acquisition of Jupiter Tatravagonka is showing promise, and the electric mobility sector is expanding with new vehicle launches.