Jupiter wagons Limited has announced the successful completion of its postal ballot process for the appointment of Mr. Mark Damian Stevenson as Non-Executive Director. The company disclosed the voting results on February 23, 2026, in compliance with Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Voting Process Details

The e-voting process was conducted over a period of nearly one month, providing shareholders ample opportunity to participate in the decision-making process. The postal ballot notice was dated December 15, 2025, with electronic dispatch completed on January 21, 2026.

Overwhelming Shareholder Support

The resolution received exceptional support from shareholders across all categories, demonstrating strong confidence in the appointment decision.

Resolution Outcome

The ordinary resolution for appointing Mr. Mark Damian Stevenson as Non-Executive Director was passed with an overwhelming majority. Out of the total votes polled, 27,34,02,713 votes were cast in favor representing 99.88% approval, while only 3,39,214 votes were cast against the resolution.

Regulatory Compliance

The postal ballot process was conducted in accordance with Section 108 and 110 of the Companies Act, 2013, and relevant rules. Ms. Shruti Singhania, Practising Company Secretary, served as the Scrutinizer for the e-voting process. The scrutinizer's report confirmed that the resolution was deemed passed on February 21, 2026, being the last date of remote e-voting.

Corporate Governance

The company maintained transparency throughout the process by:

• Dispatching postal ballot notices electronically on January 21, 2026
• Publishing advertisements as per regulatory requirements on January 22, 2026
• Providing voting facility through KFin Technologies Limited
• Making voting results available on the company website at www.jupiterwagons.com

The appointment of Mr. Mark Damian Stevenson as Non-Executive Director reflects the company's commitment to strengthening its board composition and corporate governance practices. The company secretary Ritesh Kumar Singh digitally signed all regulatory filings on February 23, 2026.

Jupiter Wagons Limited has announced its unaudited financial results for the quarter and nine-month period ended December 31, 2025, followed by a comprehensive earnings call on February 13, 2026. The company reported declining revenue and profitability compared to the previous year, while management outlined strategic initiatives to address supply chain challenges and capitalize on emerging opportunities.

Financial Performance Overview

The company's standalone operations reflected challenging market conditions during the quarter, with significant year-over-year declines across major financial metrics.

On a consolidated basis, total income for the quarter stood at ₹890 crore, reflecting a healthy 13% quarter-on-quarter growth. EBITDA came in at ₹116 crore, up 12% from Q2, with margins sustained at 13%. Profit after tax registered a strong 38% quarter-on-quarter growth at ₹62 crore, with PAT margin expanding to 7%.

Strategic Capacity Expansion and Supply Chain Solutions

During the earnings call, Managing Director Vivek Lohia addressed the industry's wheelset supply constraints, which have significantly impacted wagon production. The company's Odisha greenfield project for fully integrated wheelset manufacturing is progressing as planned, with orders for all critical equipment placed and construction activities advancing at full pace. The facility is expected to commence production by year-end, with revenue potential of approximately ₹2,000-2,500 crore annually at full production.

Business Diversification and New Ventures

The company is actively expanding beyond traditional freight wagons into higher-value segments. Jupiter Electric Mobility made significant progress with successful implementation of auxiliary battery systems for Vande Bharat trains and secured orders from marquee customers across material handling and specialized equipment segments. The business is targeting ₹200 crore revenue by FY27, with month-on-month growth of 20-30%.

Management announced plans to enter the passenger rolling stock business in 2026, with partnerships expected to be revealed in the coming months. The company is also developing advanced components including couplers for LHB passenger coaches and buffer systems for Vande Bharat trains.

Export Opportunities and Trade Agreements

Recent positive developments in trade agreements with the EU and US are expected to open substantial export opportunities for Indian railway engineering products. The company is particularly well-positioned for high-value components such as wheelsets, brake discs, and allied systems. Management highlighted preparations for CBAM (Carbon Border Adjustment Mechanism) compliance to access European markets effectively.

Corporate Developments and Future Outlook

During the quarter, Jupiter Wagons completed a significant equity conversion transaction, allotting 28,72,340 equity shares to promoter Tatravagonka A.S. pursuant to warrant conversion at ₹470 per warrant, raising ₹10,125 lakhs. The company also appointed Mark Damian Stevenson as Additional Director, bringing over three decades of international rail industry experience.

Management expects FY27 to remain muted due to ongoing wheelset supply constraints, but anticipates FY28 and beyond to be very strong years once new capacities become operational and additional orders from Indian Railways materialize. The company maintains its long-term revenue guidance of ₹8,000-10,000 crore by FY28, supported by diversified business portfolio and strategic capacity expansions.