Railway stock surged 6 percent following the launch of the JEM TEZ and the inauguration of a new electric vehicle manufacturing facility in Pithampur, Indore. This marks a significant step in the company’s expansion into the electric mobility sector, with the new facility set to produce thousands of e-LCVs annually, supporting India’s vision of sustainable transportation.
Price Action
In Tuesday’s trading session, Jupiter Wagons Ltd share price reached an intra-day high of Rs.301.05 per share, rising 6 percent from its previous close of Rs.283.90 per share. However, the stock has declined since then, trading at Rs.298.35 each. Over the past five years, the stock has delivered over 460 percent returns.
Venturing in EV Segment
Jupiter Electric Mobility (JEM), the electric vehicle arm of the Jupiter Group, has reached a significant milestone in India’s Atma Nirbhar Bharat vision with the launch of its flagship model, the JEM TEZ, and the grand opening of its state-of-the-art EV manufacturing facility in Pithampur, Indore, a rapidly growing hub for automotive and electric vehicle production in Madhya Pradesh.
The JEM TEZ features industry-leading specifications, including a true range of over 190 km, 80 kW peak motor power, 23 percent gradeability, and a 1.05-ton certified payload. Its fast-charging capability allows the vehicle to gain over 100 km in just one hour using any CCS2 charger, making it a game-changer for last-mile logistics and urban freight transport. At a starting ex-showroom price of Rs. 10.35 lakhs, the JEM TEZ sets new benchmarks in the e-CV category, offering market-leading specs at an affordable price point.
To support the production and growth of its product offerings, JEM has inaugurated its cutting-edge manufacturing facility in Pithampur, Indore, covering 2.5 acres. The facility features an in-house skateboard platform for vehicle assembly, underscoring JEM’s commitment to ground-up manufacturing.
Designed to produce 8,000–10,000 e-LCVs annually, the plant also plans for phased capacity expansion to meet the increasing demand for sustainable last-mile logistics solutions.
Management Commentary
Speaking at the inauguration, Mr. Vivek Lohia, Managing Director, Jupiter Group, stated, “The inauguration of our Pithampur facility marks a defining moment for JEM and India’s sustainable mobility future. With an initial annual capacity of 8,000 to 10,000 e-LCVs, JEM has set its sights on ambitious growth, aiming to significantly ramp up production volumes in the future. We are aiming to achieve a revenue of Rs.100 crore in our first year of operations, with a projected year-on-year growth of at least 2X.”
Financial Performance
Turning towards the financials of the company, Jupiter Wagons Ltd reported Q3 FY25 revenue of Rs.1,000 crore, rising 12 percent from Rs.896 crore in Q3 FY24. Moreover, net profits of the company increased by 18 percent to Rs.98 crore, from Rs.83 crore in the same period.
Important Financial Ratios
The Return on Capital Employed (ROCE) of the company stands at 17.93 percent, while the Return on Equity (ROE) is 14.41 percent.
The company’s Price-to-Earnings (P/E) ratio is 31.4, which is lower than the industry average of 78.28. Additionally, the company maintains a good current ratio of 3.27 and a low debt-to-equity ratio of 0.18.
Written by – Siddesh S Raskar
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