Commercial Vehicles company Jupiter Wagons announced Q3FY24 & 9MFY24 results: Q3FY24: Total Income for Q3FY24 stood at Rs 90,081 lakh, indicating a growth of 39.4% (YoY). EBITDA for Q3FY24 at Rs 12,480 lakh, reflecting an increase of 54.7% (YoY). Continues to deliver industry-leading margin — EBITDA Margin improves to 13.9% in Q3FY24 from 12.5% in Q3FY23. PAT for Q3FY24 stood at Rs 8,340 lakh, up 79.8% (YoY), with a PAT Margin of 9.3%. EPS for the quarter is Rs 2.07 per share with a face value of Rs 10 each. 9MFY24: Total income for 9MFY24 stood at Rs 2,54,090 lakh, reflecting an increase of 86.7% (YoY). EBITDA for 9MFY24 at Rs 34,331 lakh, marking a growth of 113.4% (YoY). Continues to deliver industry-leading margin — EBITDA Margin improves to 13.6% in 9MFY24 from 11.9% in 9MFY23. PAT for 9MFY24 stood at Rs 22,858 lakh, up 170.2% (YoY), with a PAT Margin of 9.0%. EPS for 9MFY24 is Rs 5.73 per share with a face value of Rs 10 each. Commenting on the results, Vivek Lohia, Managing Director of Jupiter Wagons said, ‘We take immense satisfaction in sustaining our robust operational and financial momentum. Total Income surged to ~Rs 90,081 Lakh, an increase of 39.4% YoY. EBITDA was Rs 12,480 lakhs, witnessing substantial growth of 54.7% YoY. Our ongoing efforts to enhance the margin profile are reflected in the industry-leading EBITDA margin of 13.9% in Q3FY24, a meaningful improvement from 12.5% reported in the same quarter last year. Notably, Profit after tax recorded an increase of 79.8% YoY, reaching Rs 8,340 lakhs. Surpassing the milestone of Rs 90,000 lakh in quarterly income was particularly noteworthy, considering around 10 days of production loss due to Puja and other festivities during the period. The recent acquisition of a substantial order for 4,000 BOXNS wagons from Indian Railways solidifies our standing as a premier player in the Indian wagon manufacturing industry. Additionally, contracts from the Defense Ministry for Boggie Open Military (BOM) Wagons and from private customers for Double Decker Automobile Carriers underscore our commitment to introducing cutting-edge technology into India's mobility landscape, aligning with the principles of Atmanirbhar Bharat. In our braking systems division, we've successfully secured an order for axle-mounted disc brake systems amounting to ~Rs 11,200 lakh. The Order Backlog has experienced significant accretion, reaching Rs 7,07,361 lakh, further enhancing visibility. The successful Qualified Institutional Placement (QIP) in December 2023, raising ~Rs 40,300 lakh, provides the necessary fuel for our ambitious growth plans including initiatives like setting up another foundry, working capital requirements, and backward integration through inorganic growth. These strategic ventures unfold amidst increased activity in braking systems and brake discs, coinciding with the imminent launch of our E-LCVs. The capital infusion is poised to fortify our balance sheet, and the enhanced return ratios underscore our disciplined approach to capital allocation. This is further evidenced by the recent credit rating of long-term and short-term loans to "AA (-)” & “A1 (+)” with a stable outlook validating our commitment to financial prudence and stability." Result PDF