Jupiter Wagons Limited has announced its unaudited financial results for the quarter and nine-month period ended 31 December 2025, showing a decline in both revenue and profitability compared to the corresponding periods in the previous year. The Board of Directors approved these results at their meeting held on 11 February 2026.

Standalone Financial Performance

The company's standalone operations reflected challenging market conditions during the quarter. Key financial metrics demonstrated a significant year-over-year decline across major parameters.

The nine-month performance also showed a declining trend, with revenue from operations falling to ₹1,89,403.01 lakhs from ₹2,86,858.75 lakhs in the previous year, representing a substantial decrease.

Consolidated Results

On a consolidated basis, the company's performance mirrored the standalone trends with revenue pressures across the group.

The consolidated results included contributions from subsidiaries and reflected the impact of joint venture losses of ₹321.77 lakhs during the quarter.

Corporate Actions and Developments

During the quarter ended 31 December 2025, Jupiter Wagons completed a significant equity conversion transaction. The company allotted 28,72,340 equity shares to promoter Tatravagonka A.S. pursuant to the conversion of convertible warrants at an issue price of ₹470 per warrant. The convertible warrants were originally issued on 29 June 2024, and the conversion was completed on 19 December 2025 after receiving the balance 75% of the issue price amounting to ₹10,125 lakhs.

Operational Highlights

The company's cost structure showed some positive developments during the quarter:

• Cost of materials consumed decreased to ₹60,007.28 lakhs from ₹78,356.82 lakhs in Q3FY25
• Change in inventories showed a favorable impact of ₹1,819.31 lakhs
• Employee benefits expense increased to ₹1,628.43 lakhs from ₹1,441.72 lakhs
• Finance costs rose to ₹1,503.61 lakhs from ₹1,253.80 lakhs

The company operates primarily in metal fabrication, comprising load bodies for commercial vehicles and rail freight wagons in India, which constitutes a single reportable segment under accounting standards.

Regulatory and Compliance Updates

Jupiter Wagons has evaluated the impact of India's new consolidated labour codes that became effective on 21 November 2025. The company has recognized additional gratuity liability based on actuarial valuation while continuing to monitor the finalization of central and state rules under these codes. The financial results were reviewed by the Audit Committee and approved by the Board of Directors, with auditor review reports provided by Walker Chandiok & Co LLP.

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 .