This railway company specializes in producing wagons, brake systems, and electric mobility solutions while also diversifying into defence, rail components, and cutting-edge transportation technologies, in focus after securing an order worth Rs. 255 crores from Braithwaite & Co. for the supply of 9,140 wheelsets
Stock Price Movement:
With a market capitalization of Rs. 12,722.21 crores, the share of Jupiter Wagons Limited has reached an intraday high of Rs. 312.70 per equity share, rising nearly around 1.65 percent from its previous day’s close price of Rs. 307.60. Since then, the stock has retreated and is currently trading at Rs. 299.70 per equity share.
What Happened:
Jupiter Tatravagonka Railwheel Factory, the specialized wheelset manufacturing arm of Jupiter Wagons Limited (JWL), has secured a Rs 255 crore order from Braithwaite & Co. to supply 9,140 wheelsets for heavy-duty railway applications. With this order, the company’s total order book has reached Rs. 560 crore. This strengthens Jupiter’s position as a key domestic manufacturer of high-performance railway wheelsets.
Additionally, the company aims to achieve Rs. 600 crore in revenue from its wheel business by FY26, nearly doubling its current contribution. To support this growth, the company is investing Rs. 2,500 crore in a new manufacturing facility in Odisha, increasing capacity from 20,000 to 1,00,000 forged wheelsets annually.
The Commercial Operation Date (COD) for axle production is expected by December 2026, while the complete wheel and axle production unit is targeted for completion by December 2027.
Management Guidance:
Jupiter Wagons targets Rs. 5,000 crore revenue by FY26, expecting 10-15 percent growth in its wagon segment. Its subsidiary, Jupiter Tatravagonka, aims to reach Rs. 300 crore revenue by year-end. By FY28, the company plans to achieve Rs. 8,000-10,000 crore revenue, driven by strong expansion in non-wagon sectors.
Capital Raising and Fund Utilization:
The company has approved a Rs. 3,000 crore QIP as a preparatory measure for future growth, not immediate fundraising. Earlier, it raised Rs. 800 crore for its wheel project, with further funding needs under evaluation.
Electric Mobility Expansion:
Jupiter Wagons raised its stake in Jupiter Electric Mobility from 60 percent to 75 percent and acquired Log9 Technology to enhance battery technology for electric trucks and railways. It launched a battery-as-a-service (BaaS) model for TEZ vehicles, enabling cost-effective leasing. Through the JEM Udaan program with Porter, the company secured over 500 TEZ vehicle orders to drive adoption.
Business Highlights:
Jupiter Wagons has commercialized its Tatravagonka Railwheel Factory, anticipating double the revenue from last year. It supplied 13,000 brake discs, exported 10,000 axle boxes to Indian Railways, and delivered 230 brake systems for passenger coaches, highlighting its precision engineering. With an order book of Rs. 6,320 crore as of December 31, 2024, the company ensures strong future revenue visibility.
Recent quarter results:
Jupiter Wagons Limited’s revenue has increased from Rs. 896 crore in Q3 FY24 to Rs. 1,030 crore in Q3 FY25, which has grown by 14.96 percent. The net profit has also grown by 18.52 percent from Rs. 81 crore in Q3 FY24 to Rs. 98 crore in Q3 FY25.
Written By – Nikhil Naik
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