Jupiter Wagons' arm secures Rs 215 crore LoI for Vande Bharat wheelsets

Jupiter Wagons Ltd on Wednesday said its material unlisted subsidiary, Jupiter Tatravagonka Railwheel Factory Pvt Ltd, has bagged a Letter of Intent (LoI) worth about Rs 215 crore for supplying wheelsets for Vande Bharat trains.

"We are thrilled to announce that our material unlisted subsidiary, Jupiter Tatravagonka Railwheel Factory Pvt Ltd, has received a Letter of Intent (LoI) dated August 19, 2025, for supply of total 5,376 wheelsets for Vande Bharat Train for an order value of approximately Rs 215 crore," the freight wagon maker said in a post-market BSE filing.

Meanwhile, the company is also focusing on expanding its battery energy storage business. Last month, Jupiter Wagons' managing director Vivek Lohia said the firm is targeting 20 per cent of exports from this vertical by 2030. He was speaking at the 11th India Energy Storage Week (IESW) organised by the India Energy Storage Alliance (IESA).

"We are already exporting through the North American market. Now we are in discussions for exporting through Europe. Siemens is buying from us for their Indian subsidiary, but they will be using it for their global requirements. Definitely, exports are going to be part of our strategy. Ideally, exports should be 20 per cent of our capacity," Lohia said.

The company currently operates two manufacturing facilities for its energy storage business -- one in Indore and another in Bangalore. Over the last two years, it has invested around Rs 150 crore in this segment and plans to invest another Rs 100-150 crore over the next two to three years, according to Lohia.

Shares of Jupiter Wagons settled 0.23 per cent lower at Rs 329.85 today. On the technical front, the counter traded higher than the 5-day simple moving average (SMA) but lower than the 10-day, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 38.71. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The stock has a price-to-earnings (P/E) ratio of 44.22 against a price-to-book (P/B) value of 5.47. Earnings per share (EPS) stood at 7.46 with a return on equity (RoE) of 12.38. According to Trendlyne data, Jupiter Wagons has a one-year beta of 1.4, indicating high volatility.

As of June 2025, promoters held a 68.11 per cent stake in the private rail firm.