Jupiter International Limited Unlisted Shares Share Price
About The Company
Jupiter International Limited Unlisted Shares Unlisted Shares
Financials · IPO timeline · Growth projects
Strong
Market Position
Consistent
YoY Growth
Experienced
Management
Key Indicators
A snapshot of Jupiter International Limited Unlisted Shares's financial health, valuation multiples and capital efficiency at a glance.
Pricing Trends
Financial Performance
| Indicators | 2025 | 2024 |
|---|---|---|
| Revenue | 574.8 | 579.8 |
| Expense | 329.8 | 464.4 |
| EBITDA | 245.0 | 115.4 |
| Other Cost | 78.1 | 59.4 |
| PBT | 166.9 | 56.0 |
| Tax Expense | 43.6 | 14.4 |
| PAT | 123.3 | 41.6 |
| Other Inc./Exp. | 1.6 | 0.0 |
| Net Income | 121.6 | 41.5 |
| Shares O/S | 1.40 | 1.40 |
| EPS (₹) | 88.21 | 29.76 |
| Rev. Growth % | -0.9% | — |
| EBITDA Mgn % | 42.6% | 19.9% |
| Net Mgn % | 21.2% | 7.2% |
| EPS Growth | 196.4% | — |
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Jupiter International Limited Unlisted Shares Unlisted Shares
Jupiter International Limited (JIL) is one of those rare Indian businesses that has reinvented itself multiple times and done it successfully.
It was founded in 1978. Jupiter started its journey in traditional trading and later diversified into IT peripherals under the well-known brand “Frontech”.
But the real pivot happened when the company entered solar photovoltaics in 2009, a move that now looks like a long-term visionary bet, especially as India is pushing hard for domestic solar manufacturing.
Leadership Of Jupiter International Limited
Jupiter’s solar transformation has been strongly driven by its leadership team.
Alok Garodia (Chairman & MD)
He has played a pivotal role in building Jupiter’s solar cell business since 2009 and has 25+ years of experience across manufacturing and renewable energy. He’s also a CA, which matters because solar isn’t just a technology play. It’s a capex and cash flow.
Dhruv Sharma (CEO)
An IIM Calcutta MBA, he has been instrumental in scaling the solar cell business across changing cycles and evolving technologies, exactly what you want in a sector moving fast from multi-crystalline to Mono PERC (solar cells) to TOPCon.
Jupiter International Limited Business Model
Jupiter operates largely as a solar manufacturing and solutions company, with its advanced manufacturing base in Baddi, Himachal Pradesh, producing high-efficiency solar cells (mono PERC and multi-crystalline lines).
Simply, Jupiter supplies solar cells/modules to large manufacturers and solar solution providers. Its clientele includes reputed names like Tata Power Solar, Waaree, Webel Solar, APS, BHEL, etc.
A key positive is that the company is building toward a more integrated solar value chain (from wafer to cell to module). And in solar manufacturing, integration improves cost control, supply stability, margins and bargaining power.
Jupiter International Limited Unlisted Shares Price Overview
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If we look at Jupiter international unlisted share price chart, from the recent trade points, the price moved from Rs. 355 (10 Dec FY25) to Rs. 335 (29 Dec FY25) and then slipped to Rs.315 by 2 Jan FY26, where it continued to hover around Rs. 315 (9 Jan FY26), roughly an 11% correction.
Valuation numbers explain why Jupiter’s price can still rise despite short-term volatility. With a market cap of Rs. 404.55 Cr, the company is still small, so even a few buyers in the unlisted market can move the price because liquidity is limited.
The P/E of 3.3 looks unusually low for a renewable manufacturing player. If profits and margins stay strong, the market may pay a higher multiple, lifting the price through rerating.
A P/B of 0.8 shows the stock is trading below its net worth, like buying the business at a discount, which can narrow as growth becomes visible.
The debt/equity of 0.3 adds comfort since expansion isn’t heavily loan-funded, reducing financial risk. And a strong ROE of 23.4% signals efficient return generation, which typically attracts higher valuations over time.
Overall, investors are pricing Jupiter as a company in capacity expansion mode, betting on it becoming a bigger integrated solar player in the sector, and that expectation is what can gradually drive the unlisted share price upward.
Jupiter International Limited Financial Analysis
Particulars (in Rs. Cr.) | FY2025 | FY2024 |
Revenue | 574.8 | 579.8 |
EBITDA | 245 | 115.4 |
PAT | 123.3 | 41.6 |
EBITDA Margin | 42.60% | 19.90% |
Net Margin | 21.20% | 7.20% |
EPS | 88.21 | 29.76 |
If we look at financials, Jupiter International’s FY25 performance shows strong profitability, even though the topline stayed almost flat.
Revenue remained steady at Rs. 574.8 Cr in FY25 vs Rs. 579.8 Cr in FY24, indicating that growth wasn’t driven by higher sales volumes. This is usually a sign of better operational stability, improved cost structure and stronger margins after unit stabilisation.
The real improvement came from better operational efficiency and margin expansion. EBITDA more than doubled from Rs. 115.4 Cr to Rs. 245 Cr, and EBITDA margin jumped sharply from 19.9% to 42.6%, which is a huge shift for a manufacturing business.
This margin improvement flowed directly into the bottom line. PAT surged from Rs.41.6 Cr to Rs.123.3 Cr, while net margin expanded from 7.2% to 21.2%.
Simply, the company didn’t sell much more, but it started earning far more profit per rupee of revenue, suggesting stabilisation of operations, cost control and improved capacity utilisation. Because of this, EPS rose sharply from Rs.29.76 to Rs.88.21, signalling strong shareholder value creation in FY25.
Major Recent New Projects
Jupiter International is clearly in aggressive growth mode and is expanding like a company aiming to become a large integrated solar manufacturing player in India.
A major milestone was the MOU with the Government of Maharashtra (Aug 2025) to set up a vertically integrated solar manufacturing facility in Butibori, Nagpur, involving an estimated investment of Rs.10,900 Cr across wafer manufacturing, new technology solar cells and module production, with the project expected to generate 8,300+ jobs.
Even before this, the company announced a Rs.6,500 Cr CAPEX plan (Jan 2025) focused on scaling capacity to 3 GW wafers, 9.4 GW cells and 6 GW modules, signalling a push toward full value chain integration.
To support this expansion momentum, Jupiter secured Rs. 500 Cr funding from ValueQuest (Apr 2025), strengthening financial backing for ongoing capex and scale-up.
Alongside large projects, the company also continues to build its execution track record through orders like the Rs.3 Cr rooftop solar project in West Bengal, covering installations across multiple locations.
Why Buy Jupiter International Unlisted Shares?
Buying Jupiter International unlisted shares is like backing a company that’s scaling up at the right time in India’s clean energy push.
Solar demand is growing steadily, and government policies like PLI and BCD are encouraging domestic manufacturers, creating a strong tailwind for players like Jupiter.
What adds confidence is the execution that the company has shown, with profitability improvement from Q2 FY24 and strong FY25 margins, which suggests the business is stabilising as capacity scales up.
Investors also tend to pay ahead in such stories because Jupiter has aggressive expansion plans and supplies to reputed names like Tata Power Solar, Waaree and BHEL, which strengthens revenue visibility.
However, investors should stay realistic, as raw material dependence (silicon wafer imports and forex risk), customer concentration and the cyclical nature of solar manufacturing can create volatility.
Overall, Jupiter fits a high growth, high risk profile best suited for long-term investors who can handle fluctuations.
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