Mumbai, February 11 Jupiter Wagons reported a 36 per cent drop in profit after tax (PAT) at Rs 62 crore in the December quarter compared to the corresponding quarter of the previous year.
The Kolkata-based manufacturer of railway freight wagons, components, and passenger coach accessories had reported a PAT of Rs 96.4 crore in the third quarter of FY 25.
Total income for the quarter under review stood at Rs 900 crore, down 13.9 per cent from Rs 1,045 crore in the same period of the previous year, the company said.
"While wheelset supply has improved from its peak shortage in the first few months of the year, the industry continues to face constraints in the wheelset supply chain, affecting wagon production and dispatch cycles. This is expected to continue for the next few quarters until our integrated wheelset plant commences operations, which is expected by the end of the year, thereby helping to secure a steady supply and production levels," said Vivek Lohia, Managing Director of Jupiter Wagons Ltd.
Despite these near-term challenges, Jupiter continues to maintain healthy order books, which stood at Rs 5,041 crore as of December 31, 2025, particularly from private customers, underlining strong customer confidence, he added.
"The policy environment remains supportive. The announcement of a new freight corridor in the Union Budget, and the railway ministry maintaining its procurement estimates at approximately 32,000 wagons, reinforces the long-term demand for freight rolling stock and associated components," he said.
Within the railways segment, in addition to freight wagons, the company continues to witness steady growth in its products, such as wheelsets and brake discs, and is actively pursuing opportunities to enhance its share in the passenger segment.
In addition, recent positive developments towards strengthening trade agreements with the EU and the US are expected to open up significant export opportunities for Indian railway engineering products, particularly in high-value components such as wheelsets, brake discs, and allied systems, where Jupiter Wagons is well-positioned to target European and other international markets through our JVs, subsidiaries, and global partnerships," Lohia said.
The company's wheelset business is witnessing steady growth and has a healthy orderbook for wheelset and axle supply across different applications, he said, adding that the Odisha railwheel facility, a key structural initiative aimed at addressing this constraint, is progressing as planned and is expected to commence production by the end of the year.
This will materially enhance supply chain resilience and support higher throughput across both wagon and component manufacturing, he added.
He also said that while near-term challenges persist due to supply chain constraints, the company's fundamentals remain strong.
"With a healthy order book, supportive policies, a diversified business, and strategic capacity expansion underway, we remain confident about the company's long-term growth trajectory and are well-positioned to leverage opportunities across both domestic and global markets to scale our business and drive sustained, long-term value creation," Lohia said.