Jupiter Wagons Ltd (JWL) on Tuesday reported a mixed performance for the September quarter (Q2 FY26), with profits declining sharply year-on-year but showing sequential recovery as supply bottlenecks eased.
The company’s consolidated profit after tax (PAT) fell 49 per cent year-on-year (YoY) to ₹45.3 crore from ₹89.4 crore in Q2 FY25. On a quarter-onquarter (QoQ) basis, however, profit rose 46 per cent from ₹31.1 crore, supported by improved wheelset supplies in its wagons business.
Consolidated total income for the quarter came in at ₹796.1 crore, down 22 per cent from ₹1,018.8 crore a year ago, but up a robust 67 per cent from ₹476.2 crore in Q1 FY26. The sequential growth reflects recovery in supply chains and stronger execution in the wagon and components segment.
EBITDA for Q2 stood at ₹103.6 crore, a 26 per cent decline from ₹139.4 crore in the same quarter last year, but up 73 per cent sequentially. EBITDA margin improved marginally to 13.2 per cent from 13.0 per cent in Q1, though lower than 13.8 per cent a year earlier. Net profit margin stood at 5.8 per cent compared to 6.8 per cent in Q1 and 8.9 per cent in Q2 FY25.
For the first half of FY26 (H1FY26), total income stood at ₹1,272.3 crore, down 33 per cent from ₹1,906.5 crore in H1FY25. PAT declined 58 per cent to ₹76.4 crore, while EBITDA fell 41 per cent to ₹163.4 crore. The company’s order book stood at ₹5,538 crore as of September 30, 2025.
Commenting on the results, Vivek Lohia, Managing Director of Jupiter Wagons Ltd., said, “Having navigated supply challenges in Q1 and July, we’re pleased to report that wheelset deliveries are now back on track, paving the way for smoother operations ahead.”
