On April 29, 2024, Pune-based Neilsoft and Tokyo-based Fujita Corporation announced their plans to expand the scope of their co-operative working by agreeing to increase the size of their BIM Center in Pune, India to 300 persons from the current 90 persons team. This understanding not only signifies the growing acceptance and need for Building Information Modeling (BIM) Technology Services in the engineering and construction industry but also showcases the growing bilateral business relationships between Japan and India.
Mr. Yoji Okumura, Representative Director and President of Fujita Corporation said on the occasion “Having worked with Neilsoft over the past four years to overcome the language and cultural challenges that can sometimes slow progress, we are pleased to announce we are now committed to expanding the scope of the BIM Center in Neilsoft’s Pune Campus and making it a great success. We are also expanding our cooperation efforts to include BIM in the construction phase of the project lifecycle, building on our earlier progress in Design BIM (Architecture and Structure, MEP) and AI-assisted Configurator Software development.”
Mr. Ketan Bakshi, Chairman of Neilsoft said “With Fujita Corporation’s patience, efforts, and commitment we have seen progress and some results. We now have the confidence that we can grow the BIM Center to 300 persons by 2027. We continue to evolve methods, templates, and language translation tools plus training of our teams in Japanese Design/Construction practices to ensure high-quality services. In technical co-operation with each other, Fujita and Neilsoft are also developing Scan2BIM solutions for reality/ legacy-capture requirements and for improved construction quality monitoring (to check variations) and progress tracking.”
Jupiter Wagons Limited announces stellar Q4 FY2024 financial results
Jupiter Wagons Limited, a provider of comprehensive mobility solutions encompassing rail, road and marine transportation has announced its financial results for the fourth quarter and financial year ended on March 31, 2024.
Financial Performance Summary Q4 and FY24 (Rs billion):
| Particulars | Q4 FY24 | Q4 FY23 | YoY | FY24 | FY23 | YoY |
| Total Income | 11.21 | 7.13 | 57% | 36.62 | 20.73 | 77% |
| EBITDA | 1.48 | 0.93 | 59% | 4.91 | 2.54 | 93% |
| EBITDA margin | 13.30% | 13.10% | +20bps | 13.50% | 12.30% | +120bps |
| PAT | 1.04 | 0.41 | 156% | 3.33 | 1.25 | 165% |
| PAT margin | 9.30% | 5.70% | +360bps | 9.10% | 6.00% | +310bps |
FY24 total income stood at Rs 36.62 billion, higher by 77 per cent year-on-year (YoY).
FY24 EBITDA of Rs 4.91 billion, up 93 per cent YoY, EBITDA margin improves to 13.5 per cent from 12.3 per cent in FY23.
Delivers 165 per cent growth in FY24 PAT on a year-on-year basis, EPS of Rs 8.27 per share for FY24.
The Board of Directors recommends a final dividend of Rs 0.30 per share of FV of Rs 10 each declared by the company and will be subject to approval by shareholders at the AGM.
Performance Highlights for Q4 FY24
▪ Total Income for Q4 FY24 stood at Rs 11.21 billion, up 57 per cent (YoY)
▪ EBITDA for Q4 FY24 at Rs 1.48 billion, up 59 per cent (YoY)
▪ Continue to deliver industry-leading margin as EBITDA Margin improves to 13.3 per cent in Q4 FY24 from 13.1 per cent in Q4 FY23
▪ PAT for Q4 FY24 stood at Rs 1.04 billion, higher by 156 per cent (YoY) with PAT Margin improving to 9.3 per cent.
▪ EPS for the quarter is Rs 2.54 per share of a face value of Rs 10 each.
Performance Highlights for FY24
▪ Total Income for FY24 stood at Rs 36.62 billion, up 77 per cent (YoY)
▪ EBITDA for FY24 at Rs 4.91 billion, up 93 per cent (YoY)
▪ Continue to deliver industry-leading margin as EBITDA margin improved to 13.5 per cent in FY24 from 12.3 per cent in FY23
▪ PAT for FY24 stood at Rs 3.33 billion, higher by 165 per cent (YoY), and PAT Margin improved to 9.1 per cent.
▪ EPS for FY24 is Rs 8.27 per share of a face value of Rs 10 each.
▪ The Board of Directors recommends a final dividend of Rs 0.30 per share of FV of Rs 10 each. The Company has paid an Interim Dividend of 3 per cent at Rs 0.30 per equity share of Rs 10 each, fully paid up for the financial year 2023-24 in March 2024.
Commenting on the results, Mr. Vivek Lohia, Managing Director of Jupiter Wagons Limited said, “We are delighted to announce continued strong growth in Q4 FY24, with Total Income of Rs 11.21 billion, growing 57 per cent YoY. EBITDA soared to Rs 1.48 billion, exhibiting substantial growth of 59 per cent YoY accompanied by an industry-leading EBITDA margin of 13.3 per cent in Q4 FY24 which underscores our focused execution strategy. Notably, profit after tax surged by 156 per cent YoY, reaching Rs 1.04 billion.
We achieved the milestone of surpassing Rs 11 billion of revenue in a quarter for the first time ever. This exceptional performance in the fourth quarter culminates in a remarkable financial year for Jupiter Wagons Limited, characterised by record-breaking revenues of Rs 36.62 billion and profit after tax of Rs 3.33 billion in FY23-24. In light of our robust performance, the Board of Directors has recommended a final dividend of Rs 0.30 per share, resulting in an enhanced full-year dividend payout to our esteemed shareholders.
The acquisition of Bonatrans India Private Limited during the quarter marks a significant stride in fortifying our business model, empowering us with in-house wheelset manufacturing capabilities, and driving further integration of our production process, apart from opening of substantial export opportunities in collaboration with strategic partners. Progress on the post-acquisition integration of Stone India is on schedule.
New contract wins this quarter from the Ministry of Defense, a prominent automobile manufacturer, and the Ministry of Railways for manufacturing and supplying various types of wagons coupled with the existing order backlog provide strong visibility. Jupiter remains an industry leader in private wagon suppliers. The outlook for FY25 is further enhanced by the impending launch of our e-LCVs and the plan to scale up the brake systems and braking businesses.”