Jupiter wagons Limited has submitted its quarterly compliance report detailing the utilization of funds raised through multiple preferential issues for the quarter ended December 31, 2025. The filing, made pursuant to Regulation 32 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015, covers three distinct fundraising initiatives undertaken by the company.

Fund Raising Activities Overview

The company reported on three separate fundraising exercises, each monitored by Care Ratings Limited. The comprehensive statement covers fund utilization across different time periods and purposes.

December 2023 QIP Utilization

The first QIP raised Rs. 403.41 crores with net proceeds of Rs. 394.18 crores. The company reported no utilization during the quarter ended December 31, 2025. The funds were originally allocated for three purposes:

• Foundry Unit Development: Rs. 50.00 crores originally allocated for setting up a new captive alloy steel foundry unit at Jabalpur, Madhya Pradesh. Following shareholder approval on April 18, 2025, this was modified to capacity expansion of existing alloy steel foundry at Bandel. Total utilization to date stands at Rs. 6.36 crores.
• Working Capital: Rs. 215.00 crores fully utilized for funding working capital requirements
• Inorganic Growth and Corporate Purposes: Rs. 129.18 crores fully utilized

Convertible Warrants Funding

The convertible warrants issue raised Rs. 135.00 crores in two tranches - Rs. 33.75 crores on June 28, 2024, and Rs. 101.25 crores on December 15, 2025. The entire amount was designated for investment in subsidiary Jupiter Tatravagonka Railwheel Factory Private Limited for working capital requirements. The company has utilized Rs. 33.75 crores to date with no utilization during the reported quarter.

July 2024 QIP Performance

The largest fundraising initiative raised Rs. 800.00 crores with net proceeds of Rs. 783.24 crores. The fund allocation and utilization status shows:

The subsidiary investment of Rs. 425.00 crores was made into Jupiter Tatravagonka Railwheel Factory Private Limited for capital expenditure towards railway wheel and axle plant machinery. The subsidiary utilized Rs. 342.03 crores up to Q2FY26, with the remaining Rs. 82.97 crores utilized in Q3FY26 for project expenses related to the railway wheel and axle plant construction.

Compliance and Monitoring

The company reported no deviations or variations in fund utilization during the quarter across all three fundraising initiatives. Care Ratings Limited continues to serve as the monitoring agency for all fundraising activities. The audit committee and auditors provided no additional comments on the fund utilization patterns.

The statement was signed by Ritesh Kumar Singh, Company Secretary and Compliance Officer, and filed with both BSE Limited and National Stock Exchange of India Limited on February 13, 2026.

Jupiter Wagons Limited has issued a postal ballot notice to seek shareholder approval for the appointment of Mr. Mark Damian Stevenson as Non-Executive Director of the company. The notice, dated December 15, 2025, was communicated to BSE Limited and National Stock Exchange of India Limited on January 21, 2026.

E-Voting Process and Timeline

The company has appointed Ms. Shruti Singhania (FCS No. 11752), Practising Company Secretary from Kolkata, as Scrutinizer to oversee the postal ballot process. The remote e-voting facility will be available through KFin Technologies Limited, the company's Registrar and Transfer Agent.

Director Appointment Details

Mr. Mark Damian Stevenson (DIN: 11089244) was appointed as Additional Director in the category of Non-Executive Non-Independent Director with effect from December 15, 2025. His appointment as a regular director requires shareholder approval through ordinary resolution as per the Companies Act, 2013 and SEBI Listing Regulations.

Professional Background

Mr. Stevenson brings extensive experience in the rail industry to Jupiter Wagons. He is a graduate of MA (Oxon), Modern Languages from University of Oxford and a Chartered Accountant (ICAEW), qualified with Price Waterhouse Coopers in 1989.

His professional journey includes:

• Career Start: Price Waterhouse Coopers before transitioning to rail logistics
• AAE Experience: Two decades at AAE Ahaus Alstätter Eisenbahn Holding AG, serving as CFO and later CEO
• VTG AG Roles: Since 2015, held successive C-suite positions including CIO, CFO, and Acting CEO
• Industry Impact: Contributed to significant role in development of Common Debt Platform with issue volume over USD 3.00 billion

Shareholder Information

The postal ballot notice has been sent electronically to shareholders whose names appear in the Register of Members/List of Beneficial Owners as of January 16, 2026. Shareholders holding shares in physical mode who have not registered their email addresses are required to update their details with KFin Technologies Limited.

Remuneration and Terms

Mr. Stevenson will be entitled to remuneration by way of fees for attending Board or Committee meetings, along with reimbursement of expenses within limits stipulated under Section 197 of the Companies Act, 2013. He holds no equity shares in the company and is not related to any existing directors or key managerial personnel.

The resolution, if approved by shareholders through the postal ballot process, will be deemed passed on February 21, 2026. The results will be communicated to stock exchanges and displayed on the company's website at www.jupiterwagons.com .