Shares of Jupiter Wagons Limited skyrocketed 13% on Thursday, 21 August, after the company announced that its subsidiary, Jupiter Tatravagonka Railwheel Factory Private Limited, secured an order for Vande Bharat wheelsets for Rs 215 crore.

The Letter of Intent, signed 19 August 2025, specifies the supply of 5,376 wheelsets.

Last Monday, Jupiter Wagons announced plans to produce two electric vehicles in FY26. “We have launched our first vehicle. We are going to be launching two other vehicles by the end of this year,” said Vivek Lohia, Managing Director at Jupiter Wagons. The company is also increasing its dealership network, with 8-10 new locations set to open across India within the next two months.

The battery industry is rapidly expanding, with sales increasing “about 200% month-on-month.”  Lohia also stated that the business will release its first battery energy storage system (BESS) this month, available in 10-foot and 20-foot sizes, noting high demand in the segment.

Jupiter Wagons reported a revenue of Rs 459 crore, net profit of Rs 31 crore, and 12% margins in Q1FY26. The substantial year-on-year decline of 50% in revenue and 66% in profit was caused by an Indian Railways wheelset shortage. Jupiter expects to meet its revenue target of Rs 5,000 crore for FY26, as wheel supply has “stabilised considerably” since July, according to Lohia. Margins, which have been guided at 14-15%, continue on pace.

Jupiter is pursuing a Rs 2,500 crore capital strategy, including a big project with export potential to the European Union. The Aurangabad wheel plant is projected to earn Rs 600 crore in revenue this year, increasing to Rs 2,000 crore next year.

At 12:45 pm, the shares of Jupiter Wagons were trading 8.56% higher at Rs 358.10 on NSE. 

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