Jupiter Wagons board to mull fund raising on 29th Jan 2025

The company will raise funds through issuance of equity shares or any other equity linked instruments or securities including convertible preference shares, and / or bonds including foreign currency convertible bonds / debentures / non-convertible debt instruments along with warrants / convertible debentures / securities and / or any other equity based instruments, inter alia, a private placement or through one or more qualified institutional placement (QIP) and / or further public issue of equity and / or rights issue and / or preferential allotment and / or through any other permissible mode.

Meanwhile, the board will also consider the un-audited standalone and consolidated financial results along with the report of the statutory auditors, for the quarter ended 31st December, 2024.

Jupiter Wagons is engaged in the business of manufacturing railway wagons, wagon components, castings, metal fabrication comprising load bodies for commercial vehicles, rail freight wagons and components with manufacturing facilities at Hooghly (WB), Jabalpur (MP), Indore (MP) and Jamshedpur (Jharkhand).

The company reported a 9.34% increase in consolidated net profit to Rs 89.74 crore in Q2 FY25 as compared to Rs 82.07 crore recorded in Q2 FY24. Revenue from operations jumped 14.75% YoY to Rs 1,009.04 crore in the quarter ended 30 September 2024.

The counter declined 2.32% to end at Rs 473.35 on Wednesday, 22 January 2025.