3% Dividend By Multibagger: Rail Wagon Stock To Turn Ex-Dividend Next Week; 294% Returns In 1-Year

Jupiter Wagons Limited (JWL), a multi-bagger, is all set to turn ex-dividend next week for its interim dividend payout of 3%. This dividend-paying rail stock traded near its intraday high on Friday. But the latest price is up by a whopping 357% on BSE. Jupiter Wagons' Q3 earnings were robust with double-digit growth across verticals.

Jupiter Wagons Share Price:

At the time of writing, Jupiter Wagons traded at Rs 386.30 apiece, up by 1.43% on BSE with a market cap of Rs 15,926.90 crore. The stock price was near its 52-week high of Rs 390.05 apiece.

Jupiter Wagons is closing the gap between its 52-week high of Rs 433.95 apiece. The stock has already jumped by 356.89% from its 52-week lows of Rs 85.37 apiece.

In a year, the stock has advanced by 293.48% as of now.

Jupiter Wagons Dividend:

The company declared an interim dividend of 3% amounting to Rs 0.30 per share having a face value of Rs 10/- each fully paid up for the Financial Year 2023-24. The payment thereof shall be made on or before 19th March 2024.

For the dividend payout, Jupiter has fixed Thursday, 29th February, 2024 as the "Record Date" to ascertain the names of the eligible shareholders / beneficial owners of the Company to whom the aforesaid interim dividend shall be payable. This will also be its ex-dividend date.

Jupiter Wagons Earnings:

In Q3FY24, Jupiter Wagons posted a PAT of Rs 83.40 crore, up 79.8% (YoY) with a PAT Margin of 9.3%. While total income stood at Rs 900.81 crore, up by 39.4% (YoY). EBITDA for Q3 FY24 at Rs 124.80 crore, up 54.7% (YoY). The company also continued to deliver industry-leading margin - EBITDA Margin improved to 13.9% in Q3 FY24 from 12.5% in Q3 FY23.

During nine months of FY24, PAT was at Rs 228.58 crore, up 170.2% (YoY) with a PAT Margin of 9.0%. total income for 9M FY24 stood at Rs 2,540.90 crore, up 86.7% (YoY). EBITDA for 9M FY24 at Rs 343.31 crore, up 113.4% (YoY).

Vivek Lohia, Managing Director of Jupiter Wagons Limited, earlier said, "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 ~%11,200 lakh. The Order Backlog has experienced significant accretion, reaching Rs 7,07,361 lakh, further enhancing visibility."

Lohia added, "The successful Qualified Institutional Placement (QIP) in December 2023, raising ~~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 (-)" & "Al (+)" with a stable outlook validating our commitment to financial prudence and stability."

Jupiter Wagons Outlook And Developments:

- Secured a contract with the Ministry of Defense for the manufacturing and supply of 697 Boggie Open Military (BOM) Wagons. This significant agreement holds a value of Rs 473 crore.

- Secured a substantial agreement with the Ministry of Railways for the manufacturing and delivery of 4,000 BOXNS wagons, totalling Rs 1,617 crore in value.

- Secured a substantial order from a prominent automobile manufacturer for the manufacturing and supply of four rakes of Double Decker Automobile Carrier Wagons, with the order totalling Rs 100 crore.

- JV Company JWL DAKO CZ India Ltd. has received an order aggregating Rs112 crore for axle-mounted disc-brake systems from Indian Railways.

- ACUITE upgraded long-term and short-term bank loans on December 2023 to "AA (-)" & "A1(+)" with a stable outlook, signalling improved credit quality and a low risk of default.

About Jupiter Wagons:

JWL is a provider of comprehensive mobility solutions, with diverse offerings across Freight Wagons, Locomotives, Passenger Coaches (LHB), Braking Systems, Metro Coach, Commercial Vehicles, ISO Marine Containers, and products such as Couplers, Draft Gears, Bogies, CMS Crossings. JWL has manufacturing facilities located in Kolkata, Jamshedpur, Indore, and Jabalpur with full backward integration to its foundry operations. The Group has established partnerships with leading global companies such as Tatravagonka (Slovakia), DAKO-CZ (Czech Republic), Kovis Proizvodna (Slovenia), and Telleres Alegria S.A (Spain).