Jupiter Wagons Limited · NSE:JWL
Jupiter Wagons — Non-Deal Roadshow (October 2023)
39 slides from Jupiter Wagons's roadshow presentation, Oct 15, 2023
Slide 1: Exchange intimation letter for Investor Presentation
October 15, 2023 To, The Corporate Relationship Department, The Manager, Listing Department, BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Bandra (E), Mumbai - 400 001. Mumbai - 400 051. Security Code: 533272 NSE
Slide 2: Jupiter Wagons Limited
Private & Confidential JUPITER WAGONS LIMITED Bloomberg code: JWL IN
Slide 3: Index
Index Title Nos. Industry 1 About Jupiter Wagons Products & Offerings 2 State of the art Infrastructure 3 Management Team 4 Existing and Proposed Joint Ventures 5 Consolidated Financial overview 6 2
Slide 4: Industry Overview
Industry Overview
Slide 5: Indian Railways undergoing dynamic growth with world-class advancements
Indian Railways undergoing dynamic growth with world-class advancements… Indian Railway Capex over the years (INR bn) Highest Allocation of Railway Capex (INR bn) 2,930 2,550 2,350 319 1,910 307 376 1,480 173 1,210 1,310 1,334 249 154 241 152 162 107 68 30 Doubling New Lines Track Renewals Rolling S
Slide 6: …in both freight and passenger transportation
…in both freight and passenger transportation Growth of Indian Railways Projected Wagon Demand ▪ Government expects to spend USD 750 billion on Indian railways over 2018 to 2030 230 ▪ Market share to increase from ~26% in FY22 to 45% by FY30 as per the National Rail Plan ▪ Demand for goods movement
Slide 7: India taking a quantum leap in building new freight corridors
India taking a quantum leap in building new freight corridors Highest Capex by DFCCIL in 2021-22 (INR bn) Month-wise total no of trains across corridors 128 132 123 3,084 2,987 100 2,513 816 2,416 995 2,081 1,890 803 67 930 55 961 44 873 2,268 1,992 1,486 1,710 14 1,120 5 6 1,017 4 2016-17 2017-18 2
Slide 8: Government Initiatives for Private Sector Investments
Government Initiatives for Private Sector Investments ▪ Scheme allows investment in procurement of general purpose wagon by end users, PSUs, Port owners, Logistics provider & Mines owners General Purpose 1 Wagon Investment ▪ IR halted new applications from April, 2023 for inducting new wagons for pr
Slide 9: Latest initiatives by Government for Indian Railways
Latest initiatives by Government for Indian Railways ▪ The government is planning to introduce a PLI scheme for train component makers ▪ The effort is to attract foreign manufacturing firms and reduce dependence on imports 1 PLI scheme for train ▪ Programme will incentivize setting up of new manufac
Slide 10: About Company
About Company
Slide 11: Jupiter Wagons – one of the largest player in India's dynamic Railway sector
Jupiter Wagons – one of the largest player in India’s dynamic Railway sector Company Overview Certifications ▪ JWL is based out of Kolkata, West Bengal ▪ Pursuant to a scheme of amalgamation erstwhile Jupiter Wagons Limited was amalgamated, with the appointed date being October About the 1, 2019 and
Slide 12: Strong Product Portfolio
Strong Product Portfolio
Slide 13: Product portfolio (1/3)
Product portfolio (1/3) Wagons Open Wagons Flat Wagons/ BLC Wagons for Containers Covered Wagons BRN Wagons for Steel Rails and Flats Car Carrier Wagons Hopper Wagons for Iron Ore BCFC Wagons for Cement and FlyAsh 12
Slide 14: Product portfolio (2/3)
Product portfolio (2/3) Passenger Coach & Wagon Accessories Draft Gear Passenger Coupler with balance Draft Gear Alloy Steel Cast Bogie Brake System (through JV with Dako) Brake Disc (through JV with Kovis) CMS Crossings for Indian Railways 13
Slide 15: Product portfolio (3/3)
Product portfolio (3/3) Load Bodies for Commercial and Heavy Vehicles Ribless Tipper Tipper Side Wall Semi Trailer Load Cargo Refrigerator fitted Tip Trailers Container Car Carrier Box Trailers Water Bowser Bodies Skeletal Trailers Heavy Fabrication ISO Marine Containers Power Plant Fabrication & ES
Slide 16: State of the Art Infrastructure
State of the Art Infrastructure
Slide 17: State of the art manufacturing units
State of the art manufacturing units Madhya Pradesh Jharkhand West Bengal 1 Plant in Plant 1 in Plant 2 in 1 JV & 3 Plants in 1 Plant in Indore Jamshedpur Kolkata Kolkata Jabalpur Load bodies for Wagons, couplers, Brake System (Dako JV) Load bodies for Commercial Vehicle draft gears, CMS Commercial
Slide 18: State of the art manufacturing operations with significant capabilities
State of the art manufacturing operations with significant capabilities Infrastructure Order Book (INR mn) Quarterly Manufactured Units 2,161 2,059 2,191 1,532 1,898 1,713 Q1FY23 1,427 1,490 Q2FY23 862 57,030 58,180 62,120 526 644 309 424 Q3FY23 46,860 50,250 400 357 307 167 157 158 112 Q4FY23 Q1FY2
Slide 19: Foundry infrastructure facilities to enhance production
Foundry infrastructure facilities to enhance production… ▪ 2 units of 15 Tons Electric Arc Furnace For Steel Melting ▪ Argon Purging System, ▪ Heat-treatment Furnace, ▪ Quenching Facility, ▪ Bend Correction Press etc. ▪ Sand Preparation Plant With Compact-strength Testing Laboratory ▪ Metallurgical
Slide 20: …along with modern automation and robotics technology
…along with modern automation and robotics technology 19
Slide 21: Strong Leadership & Management
Strong Leadership & Management
Slide 22: Leadership Team and The Board of Directors (1/3)
Leadership Team and The Board of Directors (1/3) • The company is governed by strong leadership with experience and very renowned, experienced, and resourceful Board of Directors. • Shri Murari Lal Lohia has extensive leadership experience in the wagon industry. • Graduate in Engineering from Birla
Slide 23: Leadership Team and The Board of Directors (2/3)
Leadership Team and The Board of Directors (2/3) • Qualified CA with more than 39 years of experience • He was on board of many Cummins entities in India • Previously worked with Tata Motors for 12+ years and Cummins India Limited for 19+ years Prakash Yashwant Gurav Independent Director • Vast expe
Slide 24: Leadership Team and The Board of Directors (3/3)
Leadership Team and The Board of Directors (3/3) • 35+ years of experience, associated with JWL in 2007 as Wholetime Director • Previously worked with Burn Standard Co. Ltd. for 35 years, Braithweight & Co. Ltd • Alumni of IIT, Kharagpur and hold B.Tech in Mechanical Engineering Asim Ranjan Das Gupt
Slide 25: Existing and Proposed Joint Ventures
Existing and Proposed Joint Ventures
Slide 26: Existing Joint Ventures, Subsidiary & Proposed Initiatives
Existing Joint Ventures, Subsidiary & Proposed Initiatives Existing JV Subsidiary Proposed Initiatives CAF Green Power Metro Coaches Electric Commercial (MOU 50:50) Vehicles (MOU 50:50) JWL: 50% JWL: 50% JWL: 50% Kovis: 50% Dako: 50% Talleres: 50% Jupiter Electric Habitation Real Mobility Estate LLP
Slide 27: JWL - KOVIS (50:50) Joint Venture
JWL - KOVIS (50:50) Joint Venture About JV Products and Clientele Market opportunity in India • JWL-KOVIS was incorporated on September 2nd,2019 INR bn in collaboration with Kovis D.O.O. Approval received from RDSO for Brake Disc, Axles & gear boxes for railway rolling stock in • The objective of JW
Slide 28: JWL – DAKO-CZ (50:50) Joint Venture
JWL – DAKO-CZ (50:50) Joint Venture About JV Approvals and Clientele Market opportunity in India • JWL DAKO-CZ, was incorporated on May 12,2017 in INR bn RDSO Approval received for LHB collaborative efforts with DAKO-CZ Passenger coaches in Mar’23 and • The objective of JWL DAKO-CZ is to design manu
Slide 29: JWL – Talleres Alegria (50:50) Joint Venture
JWL – Talleres Alegria (50:50) Joint Venture Approvals and Clientele Market opportunity in India INR bn Expected freight movement and railway track RDSO Approval received for CMS welded crossings and commercial production to 40 start from Q2FY24 • Freight by weight is projected at 6400 Million Tons
Slide 30: JWL – RITES Joint Venture
JWL – RITES Joint Venture MoU signed between the two companies Jupiter Wagons Limited Rail India Technical and Economic Service Limited Business Highlights • JWL signed MoU with RITES to bid in the global rolling stock projects • Currently, bidding for ~620 freight wagons in Zimbabwe, it is in the f
Slide 31: Jupiter Electric Mobility (60% stake) – subsidiary (eLCV)
Jupiter Electric Mobility (60% stake) – subsidiary of Jupiter Wagons Ltd. (eLCV) Approvals Indian Domestic Market for LCV In ‘000 units • MOU signed with GreenPower, which is a wholly owned subsidiary of GreenPower Motor Company Inc • E-LCVs-JEM TEZ of 2.2 Ton and EV Star CC of 7 Ton GVW has been di
Slide 32: Track record of technology transfer partnerships with global leaders (1/2)
Track record of having technology transfer partnerships with global leaders (1/2) • Partnership with Tatravagonka (CSG Group, Czech Republic and Budamar Logistics, Slovakia) for manufacturing wagons • Leading railway engineering company in the European Union named Tatravagonka Poprad • Leader in the
Slide 33: Track record of technology transfer partnerships with global leaders (2/2)
Track record of having technology transfer partnerships with global leaders (2/2) • Partnership with Talleres Alegría S.A. (Spain) for Weldable cast manganese steel (WCMS) crossings for both BG (broad gauge) and metro • Company is accredited with the UNE-EN ISO 9001:2000 and UNE-EN ISO 14001 certifi
Slide 34: Consolidated Financial Summary
Consolidated Financial Summary
Slide 35: Revenue has grown at CAGR of 30% with strong profitability
Revenue has grown at CAGR of 30% with strong profitability Revenue (INR mn) EBITDA and PAT Margin EBITDA% PAT% CAGR @ 30% 12.2% 10.2% 10.7% 9.7% 20,682 5.5% 5.4% 5.8% 4.2% 9,958 11,784 9,384 FY20A FY21A FY22A FY23A FY20A FY21A FY22A FY23A ROE and ROCE Debt to Equity 24.3% 0.36 0.36 0.22 13.5% 0.20 1
Slide 36: Quarterly Performance (Consolidated)
Quarterly Performance (Consolidated) Particulars (INR mn) Q1FY24 Q4FY23 Q3FY23 Q2FY23 Q1FY23 % YoY % QoQ Revenues 7,531.9 7,117.0 6,444.3 4,167.2 2,954.0 155.0 5.8 Gross Profit 1,697.1 1,624.2 1,476.3 1,048.5 788.5 115.2 4.5 Gross profit margin (%) 22.5% 22.8% 22.9% 25.2% 26.7% -416 -29 EBITDA 968.1
Slide 37: Consolidated Profit & Loss
Consolidated Profit & Loss Particulars (INR mn) FY21A* FY22A FY23A Revenue from Operations 9,958 11,784 20,682 Total Revenue 9,976 11,817 20,733 YoY Growth 5.7% 18.5% 75.5% Material Costs 7,396 9,169 15,801 Changes in inventories 20 -200 -56 Gross Profit 2,542 2,815 4.938 Gross Margin % 25.7% 24.2%
Slide 38: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (INR mn) FY21A* FY22A FY23A Particulars (INR mn) FY21A* FY22A FY23A ASSETS EQUITY Non-current assets Equity share capital 3,874 3,874 3,874 Property, plant and equipment 3,842 3,951 4,335 Other Equity 2,456 2,952 4,159 Intangible Assets 330 314 302 Non controll
Slide 39: Thank You
Thank You