Jupiter Wagons Shares Surge 13% on Rs 215 Crore Vande Bharat Order

On Thursday, Jupiter Wagons shares surged 12.71 percent touching a day’s high price of Rs 371.80 on NSE after the company’s material subsidiary, Jupiter Tatravagonka Railwheel Factory Private Limited, received a Letter of Intent to supply 5,376 wheelsets for Vande Bharat trains, valued at approximately Rs 215 crore. This order not only expands JWL’s footprint in the high-speed rail segment but also strengthens its role in India’s railway modernization drive.

The Vande Bharat wheelsets order is strategically important, as it is set to boost Jupiter Wagons’ order book and potentially open doors to further participation in Indian Railways’ future high-speed and modernization initiatives. With India investing aggressively to upgrade its railway capabilities, JWL’s proven expertise in supplying critical components for advanced train systems is expected to provide a competitive edge.

However, the company’s Q1FY26 financial performance mirrored the sector’s supply chain challenges. For the quarter ended June 2025, Jupiter Wagons reported a consolidated revenue from operations of Rs 459 crore, marking a significant 47.8 percent year-on-year decline. Profit after tax came in at Rs 31 crore, down 66 percent from the prior-year period. The tough quarter was largely attributed to shortages of wheelsets from Indian Railways, directly impacting its ability to fulfil orders and thus weighing heavily on revenues and profitability. Despite this, EBITDA margin was maintained around 13 percent, with management expressing confidence in achieving the guided margin band of 14 to 15 percent for FY26 as wheelset supplies stabilize from July onwards.

Looking ahead, Jupiter Wagons remains steadfast in its growth trajectory, underpinned by a robust project pipeline and substantial investments. The company is executing a capital expenditure plan of Rs 2,500 crore, including an EU-focused project with strong export potential. The Aurangabad wheel manufacturing facility, is still in progress. Overall, the company remains on track to achieve its ambitious revenue target of Rs 5,000 crore for FY26.

Diversification is another critical pillar of Jupiter Wagons’ forward strategy. The company has forayed into the electric mobility segment, launching its first vehicle this year and preparing to introduce two additional electric vehicles by the end of FY26. Management is also focused on rapidly expanding its EV dealership network, targeting 8 to 10 new outlets across India within the next two months as per various sources. The company is witnessing robust traction in its battery business, recording month-on-month sales growth of around 200 percent. 

In sync with its manufacturing thrust, JWL is heavily investing in capacity expansions. By FY26 the company aims to deliver 10,000 wagons. Simultaneously, wagon manufacturing capacity is expected to produce around 10,000 in FY26. This integrated approach positions Jupiter Wagons to service both domestic growth and emerging export opportunities while pursuing further value addition within the rail component ecosystem.