Jupiter Wagons Ltd. shares surged more than 6% on Wednesday to ₹350 after the company announced that its unlisted subsidiary, Jupiter Tatravagonka Railwheel Factory Private Limited, has received a Letter of Intent (LoI) to supply 5,376 wheelsets for Vande Bharat trains. The order is valued at approximately ₹215 crore, boosting investor sentiment and placing the stock firmly on traders’ radar.
The development comes at a crucial time for the company, which has faced significant headwinds in recent months. Jupiter Wagons’ Q1FY26 results showed a sharp 47.8% year-on-year decline in revenue from operations to ₹459.3 crore. The drop was largely attributed to a shortage of wheelsets supplied by the Railway Wheel Factory, Indian Railways, which particularly impacted the company’s 25-ton axle load wagons segment — a key part of its order book.
EBITDA fell 56.2% YoY to ₹59.8 crore, while margins contracted to 13% from 15.5% in the same quarter last year. Net profit also took a hit, dropping 66.2% to ₹31.1 crore.
Despite this, the new Vande Bharat order signals improving supply conditions and raises hopes for a production recovery in the coming months. Additionally, its EV arm, Jupiter Electric Mobility (JEM), has begun its pan-India expansion with the launch of its first showroom in Bengaluru. JEM also signed an MoU with Pickkup to deploy 300 JEM TEZ electric LCVs, supporting the PM e-DRIVE initiative and strengthening India’s push towards clean mobility.
With these developments, analysts believe Jupiter Wagons is well-positioned to regain momentum, both in its core rail business and in its emerging EV vertical.
