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Manufactures railway wagons and wagon components, supplying Indian Railways and private freight operators.
Manufactures railway wagons and wagon components, supplying Indian Railways and private freight operators.
Wins wagon orders through tenders from Indian Railways and from private companies that own wagons for steel, cement and fuel freight, and delivers against a schedule, so earnings are lumpy around order timing. Besides assembly, it makes the castings and brake gear that go into the wagons.
In one line: A niche Indian rail-wagon manufacturer.
Moat: narrow (scale, installed base). Established wagon manufacturing capacity and vendor approval with Indian Railways.
Headquarters: Kolkata, India · Founded: 1979 · Employees: 1,953
Size Jupiter Wagons (JWL.NS) is an India Industrials company (Trucks/Construction/Farm Machinery) with a market value of $896M, the 627th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹197.94 on 6 Nov 2026.
Performance Over six months the shares fell 34.8%, against -19.5% for the median peer and 0.0% for the India market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue fell 11.7% over the last twelve months (peer median +16.4%); the operating margin is 9.5% (peer median 6.8%).
Valuation It trades at 32.8× forward earnings against a peer median of 11.9× (2nd most expensive of 12).
Capital Return on invested capital runs 5.9 points below its cost of capital (13.4% WACC).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹31.3B | ₹29.2B | ₹39.6B | ₹36.4B | ₹20.7B |
| Revenue growth | — | -26% | +9% | +76% | — |
| Gross profit | ₹6.69B | ₹4.14B | ₹6.28B | ₹5.29B | ₹2.78B |
| EBITDA | ₹3.68B | ₹3.73B | ₹5.83B | ₹4.92B | ₹2.58B |
| Net income | ₹1.67B | ₹1.71B | ₹3.82B | ₹3.32B | ₹1.21B |
| Free cash flow | n/a | -₹5.66B | -₹4.33B | -₹1.74B | -₹206M |
| Capital expenditure | n/a | ₹5.35B | ₹5.08B | ₹1.25B | ₹727M |
| Total debt | n/a | ₹9.96B | ₹5.02B | ₹3.49B | ₹2.88B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Jupiter Wagons JWL.NS | $896M | -35% | -12% | 10% | 32.8× | n/a |
| Titagarh Rail Systems TITAGARH.NS | $967M | -20% | -10% | 10% | 34.8× | 45.4% |
| BEML BEML.NS | $1.72B | -2% | +13% | 6% | 39.1× | n/a |
| Texmaco Rail & Engineering TEXRAIL.NS | $452M | -9% | -14% | 8% | 21.9× | 24.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | JWL.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.5% | -7.8% | 8th lowest of 21 |
| 6-month return | -34.8% | -19.5% | 6th lowest of 21 |
| Distance from 52-week high | -44.8% | -31.2% | 7th lowest of 21 |
| Revenue growth (TTM) | -11.7% | +16.4% | lowest of 21 |
| Operating margin | 9.5% | 6.8% | 9th highest of 21 |
| Forward P/E | 32.8× | 11.9× | 2nd most expensive of 12 |
| ROIC minus cost of capital | -5.9 pp | -1.3 pp | 6th lowest of 21 |
| EV / EBITDA | 23.0× | 9.6× | 4th most expensive of 11 |
| Net debt / EBITDA | 0.9× | 1.2× | 5th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jupiter Wagons JWL.NS | India | $896M | -35% | -12% | 10% | 32.8× | n/a | n/a |
| HD-Hyundai Marine Engine 071970.KS | South Korea | $887M | -66% | +54% | 26% | 8.7× | -9.8% | +10.2% |
| Knowledge Marine & Engineering Works KMEW.NS | India | $876M | +44% | +57% | 40% | n/a | n/a | n/a |
| engcon ENGCON-B.ST | Sweden | $876M | -13% | +16% | 16% | 29.7× | 7.0% | +11.9% |
| DAEHAN SHIPBUILDING 439260.KS | South Korea | $955M | -62% | +14% | 26% | 4.4× | n/a | n/a |
| Douglas Dynamics PLOW | United States | $839M | -20% | +23% | 13% | 11.0× | 5.6% | +6.4% |
| Chengdu Xiling Power Science & Technology 300733.SZ | China | $831M | -9% | +4% | 3% | 29.3× | n/a | n/a |
| Titagarh Rail Systems TITAGARH.NS | India | $967M | -20% | -10% | 10% | 34.8× | 45.4% | +15.9% |
| Astec Industries ASTE | United States | $822M | -33% | +19% | 5% | 9.8× | 9.5% | +6.6% |
| Power HF 605100.SS | China | $816M | -35% | +17% | 2% | n/a | n/a | n/a |
| Sunward Intelligent Equipment 002097.SZ | China | $985M | -38% | +10% | 1% | n/a | n/a | n/a |
| Manitowoc MTW | United States | $808M | -3% | +9% | 3% | 16.2× | 11.2% | +9.2% |
| Greenworks (Jiangsu) 301260.SZ | China | $804M | -35% | -1% | -8% | 19.1× | n/a | n/a |
| Gemac Engineering Machinery 301048.SZ | China | $801M | -8% | +7% | 8% | n/a | 4.1% | +4.0% |
| TADANO 6395.T | Japan | $1.02B | -8% | +21% | 9% | 10.8× | n/a | n/a |
| Hangzhou Advance Gearbox 601177.SS | China | $786M | -19% | +1% | 4% | n/a | 14.5% | +4.6% |
| Newag NWG.WA | Poland | $1.04B | -16% | +45% | 21% | 11.9× | -4.3% | +12.6% |
| Xiamen XGMA Machinery 600815.SS | China | $756M | -36% | +21% | -21% | n/a | n/a | n/a |
| Shandong Mining Machinery 002526.SZ | China | $754M | -15% | -6% | 1% | n/a | n/a | n/a |
| Niutech Technology 688309.SS | China | $753M | -10% | +79% | 26% | n/a | n/a | n/a |
| Willing New Energy 002667.SZ | China | $1.08B | -20% | +49% | -44% | n/a | n/a | n/a |