Jupiter Wagons bags ₹113 crore FIAT axle order from railways ministry

Jupiter Wagons Ltd. on Tuesday said its material subsidiary, Jupiter Tatravagonka Railwheel Factory Pvt. Ltd., has received a Letter of Acceptance from the Ministry of Railways for the supply of 9,000 FIAT axles used in LHB coaches.

The order, valued at approximately ₹113 crore, was issued by the Railway Board on 9 September.

The latest contract strengthens Jupiter Wagons’ rail portfolio at a time when the company is securing steady inflows of high-value orders. Only last month, the same subsidiary received a Letter of Intent to supply 5,376 wheelsets for Vande Bharat trains, worth ₹215 crore.

The back-to-back orders underscore Jupiter’s positioning as a key supplier to India’s fast-modernising railway network. Vivek Lohia, Managing Director of Jupiter Wagons, has previously highlighted that the company’s growth is closely linked with demand for high-performance wheels and axles, where it has built substantial capacity.

Beyond its rail business, Jupiter is pushing hard into new segments. The company has rolled out its first electric vehicle and plans to launch two more in FY26, supported by an expanding dealership network with 8–10 new outlets slated to open nationwide in the coming months.

The group is also scaling up its battery business, where sales have risen nearly 200 per cent month-on-month. Its first battery energy storage system (BESS), offered in 10-foot and 20-foot variants, is set to debut this month.

Financially, the company endured a weak start to FY26. In April–June 2025, revenue halved year-on-year to ₹459 crore, while net profit slid 66 per cent to ₹31 crore. Margins too fell to 12%, impacted by a shortage of wheelsets from Indian Railways. Lohia noted, however, that supplies had “stabilised considerably” since July, and reiterated guidance of ₹5,000 crore revenue for FY26 with margins in the 14–15% range.

Jupiter is pursuing a ₹2,500 crore capex plan that includes expanding its Aurangabad wheel facility, expected to deliver ₹600 crore in revenue this year and scale up to ₹2,000 crore next year, aided by strong export potential to the European Union.

Shares of Jupiter Wagons ended marginally lower at ₹319.20 on the BSE on Tuesday, ahead of the order announcement.