Jupiter Wagons Climbs 10.5% on Subsidiary’s ₹215 Crore Vande Bharat Wheelsets LoI

21 Aug 2025 , 11:37 AM

Shares of Jupiter Wagons Ltd surged 10.5% on Thursday, August 21, 2025, after its subsidiary, Jupiter Tatravagonka Railwheel Factory Pvt. Ltd., secured a Letter of Intent (LoI) for a ₹215 crore Vande Bharat wheelsets order. The LoI, dated August 19, covers the supply of 5,376 wheelsets, strengthening the company’s position as a key supplier to Indian Railways.

Beyond railways, Jupiter Wagons is accelerating its electric vehicle (EV) ambitions. Managing Director Vivek Lohia said the company, which has already launched its first EV, plans to introduce two more models in FY26, with launches expected before the year-end. To support growth, the company is expanding its dealership footprint, with 8–10 new outlets set to open across India within the next two months.

Jupiter’s battery business is seeing strong traction, with sales rising 200% month-on-month. The company will also introduce its first Battery Energy Storage System (BESS) this month, available in 10-foot and 20-foot formats, citing robust demand from the energy segment.

On the financial front, Jupiter Wagons reported Q1FY26 revenue of ₹459 crore, with net profit at ₹31 crore and margins of 12%. This marked a sharp year-on-year drop revenue was down 50%, and profit slid 66% largely due to a shortage of wheelsets from Indian Railways.

However, Lohia confirmed that wheel supplies have stabilised since July, and the company remains confident of achieving its ₹5,000 crore revenue target for FY26, with margins guided at 14–15%. The company is pressing ahead with its ₹2,500 crore capex plan, including projects with export potential to the European Union. Its Aurangabad wheel facility is expected to generate ₹600 crore in revenue this fiscal, with a sharp ramp-up to ₹2,000 crore next year, underscoring its long-term growth strategy.

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