Shares of Jupiter Wagons Limited fell 5.25 per cent to ₹275.50 on the NSE on Monday after the railway wagon and mobility solutions manufacturer reported a sharp deterioration in its fourth-quarter and full-year earnings for FY26.
The company’s consolidated net profit for Q4 FY26 stood at ₹27 crore, down 73.5 per cent from ₹103 crore in Q4 FY25 and down 56 per cent sequentially from ₹62 crore in Q3 FY26. Revenue from operations fell 25 per cent year-on-year to ₹780 crore, while EBITDA declined 45.5 per cent to ₹83 crore, compressing the EBITDA margin to 10.7 per cent from 14.6 per cent a year earlier.
For the full year FY26, consolidated revenue came in at ₹2,916 crore, down 26 per cent from ₹3,963 crore in FY25. Full-year PAT fell 56 per cent to ₹166 crore, with PAT margin narrowing to 5.7 per cent from 9.6 per cent.
Management attributed the weak performance to two main disruptions: an industry-wide wheelset shortage in the first half of FY26 that constrained wagon production, and LPG supply disruptions in Q4 linked to global geopolitical tensions that hit manufacturing operations.
Despite the earnings miss, the company highlighted several operational developments. Its wheelset subsidiary, Jupiter Tatravagonka Railwheel Factory, crossed ₹500 crore in revenue at a 16 per cent EBITDA margin and secured a long-term supply agreement with European wagon manufacturer Tatravagonka covering 20,000–30,000 wheelsets per year from its upcoming Odisha facility. Stone India, another subsidiary, received RDSO approval for its freight brake system, with production scheduled to begin in July 2026.
The company’s order book stood at ₹4,675 crore as of March 31, 2026. Its clean energy arm, Jupiter Electric Mobility, signed MoUs for 110 MWh of Battery Energy Storage System deployments and has set an aspirational revenue target of ₹1,000 crore from the battery segment over three to four years.
The stock, trading at a PE of 71, is down 30 per cent over the past year and 18 per cent year-to-date, significantly underperforming the Nifty 500.