Shares of Jupiter Wagons Ltd soared 8% higher on Tuesday, 11 September, after the company announced that its material subsidiary, Jupiter Tatravagonka Railwheel Factory Pvt. Ltd., has obtained a letter of acceptance from the Ministry of Railways for the supply of 9,000 FIAT axles used in LHB coaches.

The Railway Board issued an order worth roughly Rs 113 crore on 9 September.

The current deal extends Jupiter Wagons’ rail portfolio at a time when the company is receiving a constant stream of high-value orders.  Last month, the same subsidiary received a Letter of Intent to supply 5,376 wheelsets for Vande Bharat trains valued at Rs 215 crore.

The back-to-back purchases highlight Jupiter’s position as a vital supplier to India’s rapidly modernising railway network. Jupiter Wagons’ Managing Director, Vivek Lohia, has previously stated that the company’s growth is closely tied to demand for high-performance wheels and axles, for which it has created significant capacity.

Jupiter is aggressively expanding into new market segments in addition to rail. The company has launched its first electric vehicle and expects to launch two more in FY26, aided by a growing dealership network that includes 8-10 new locations set to open countrywide in the coming months.

The corporation is also expanding its battery sector, where sales have increased by roughly 200% month on month. Its first battery energy storage system (BESS), available in 10-foot and 20-foot sizes, is slated to debut this month.

Financially, the corporation had a slow start to FY26. In April-June 2025, revenue halved to Rs 459 crore, while net profit fell 66% to Rs 31 crore. Margins also reduced to 12%, owing to a scarcity of wheelsets from Indian Railways. Lohia stated that supplies have “stabilised considerably” since July and reiterated guidance of Rs 5,000 crore revenue for FY26 with margins in the 14-15% range.

Jupiter’s Rs 2,500 crore expenditure plan includes developing its Aurangabad wheel facility, which is estimated to generate Rs 600 crore in revenue this year and Rs 2,000 crore next year, supported by high export potential to the European Union.

At 12:36 pm, the shares of Jupiter Wagons were trading 4.87% higher at Rs 334.75 on NSE.

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