Bonatrans India has a manufacturing plant at Aurangabad, Maharashtra, with a capacity to manufacture, on a per annum basis, 20,000 pieces of wheels and 10,000 pieces of axles that are primarily used in rolling stocks. The company had recorded a turnover of Rs 63.50 crore in FY2022-23.
Offering the acquisition rationale, Jupiter Wagons said that the acquisition would help to meet the captive requirement of the company and would also cater to evolving demand in domestic and export market.
Jupiter Wagons has acquired 94.25% stake in Bonatrans India for a cash consideration of Rs 271 crore.
Jupiter Wagons is a leading provider of complete mobility solutions with a diverse product portfolio. Its products include wagons, couplers, draft gears, bogies, crossings, and accessories for various types of coaches and vehicles.
The company’s net profit surged 82.7% to Rs 81.45 crore in Q3 FY24 as compared to Rs 44.59 crore recorded in Q3 FY23. Revenue from operations jumped 39% YoY to Rs 895.84 crore in the quarter ended 31 December 2023.
The scrip slipped 1.58% to currently trade at Rs 333.45 on the BSE.
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