Jupiter Wagons Limited is a premier railway wagons supplier and components manufacturer in India, counted among the most reputed railway equipment suppliers across the world. The company was incorporated in 1979 and is headquartered in Kolkata, India. The company was formerly known as Commercial Engineers & Body Builders Co Limited and changed its name to Jupiter Wagons Limited in May 2022.
Jupiter Wagons operates in one of the most exciting global destinations for transportation solutions, positioning itself as India's most exciting transportation solutions proxy. The company has established itself as a comprehensive transportation solutions provider, leveraging India's rapid urbanization and the growing demand for sustainable mass-rapid transport systems.
Jupiter Wagons Limited manufactures and sells railway wagons, wagon components, and railway transportation equipment in India and internationally, offering open, covered, flat, hopper, container, and special purpose wagons along with wagon accessories such as alloy steel cast bogies, high tensile center buffer couplers, and high-capacity draft gears. The company operates manufacturing facilities at Hooghly (West Bengal), Jabalpur (Madhya Pradesh), Indore (Madhya Pradesh), and Jamshedpur (Jharkhand).
The company also provides passenger and metro coaches, and train sets along with passenger coach accessories, including fabricated bogies, couplers and draft gears for passenger trains, axle mounted disc brake systems, brake discs and split brake discs, and brake pads. Additionally, it offers track solutions such as CMS crossings and weldable CMS crossings on PSC slipper, commercial vehicles, commercial electric vehicles, and containers including marine, refrigerated, and truck mounted containers, as well as cold chain transport solutions.
Jupiter Wagons holds the distinction of being the first to build and supply 25 T Wagon for Indian Railways. The company's product innovations include LWLH25 ton cast bogies for the Indian railways, improved high capacity (45000 ft-lb) draft gear for freight cars, and upgraded high tensile center buffer coupler.
Commercial Engineers & Body Builders Company Ltd (CEBBCO), a Madhya Pradesh-based manufacturer of tipplers, trailers, and specialized defense vehicles, was acquired by Jupiter Wagons Limited in a buyout in 2019 under a National Company Law Tribunal (NCLT) governed stressed asset sale, with the company announcing its reverse merger with CEBBCO on June 29, 2022. With this merger, the company completed its listing on the bourses.
Jupiter Wagons recently acquired Bonatrans India Private Limited (BIPL), establishing the company as the only Indian Rolling Stock Manufacturer with its own wheelset plant, featuring a robust production capacity of 20,000 wheels and 10,000 axles annually. This acquisition reinforces the company's commitment to the Make in India initiative, with plans to invest substantially over the next two years to further bolster production capacity and drive the plant towards maximum backward integration.
Jupiter Electric Mobility (JEM) is a fully-owned subsidiary of Jupiter Wagons Limited that launched two Electric Light Commercial Vehicles (eLCV) at Auto Expo 2023 in Greater Noida. JEM TEZ is a smaller truck with up to 1 ton payload, while EV Star CC is capable of carrying heavier payload. Jupiter Electric Mobility opened its first Bengaluru showroom in June 2024, launching pan-India expansion of eLCVs with the JEM TEZ model.
- Market Cap: ₹16,180 Crore (down -47.8% in 1 year)
- Revenue: ₹3,871 Crore
- Profit: ₹373 Crore
- Promoter Holding: 68.1%
Q1 FY2025 (June 2024):
- Net profit climbed to ₹91.92 Crore in Q1 against ₹62.85 Crore in Q1 of the previous fiscal, while revenue rose 17% to ₹879.86 Crore against ₹753.18 Crore in Q1 of the previous fiscal.
- EBITDA climbed 32% (YoY) to ₹128.86 Crore with EBITDA margins improving to 14.4% and consolidated EBITDA margin of 15.5%.
- Order book stood at ₹7,028.34 Crore as on June 30, 2024.
Q2 FY2025 (September 2024):
- Net profit rose 8.9% to ₹89.36 Crore for the second quarter ended September 2024.
Q3 FY2025 (December 2024):
- Revenue jumped 15.97% to ₹1,044.66 Crore in Q3 FY2024-2025, while net profit jumped 19.51% to ₹97.34 Crore.
- Net profit margin jumped 3.05% to 9.32% in Q3 FY2024-2025.
Q4 FY2025 (March 2025):
- Net profit fell -1.83% to ₹103.26 Crore in Q4 FY2024-2025, though it showed 6.08% quarterly growth.
- The company declared a dividend of Re 1 for the financial year, resulting in a dividend yield of approximately 0.27%.
Jupiter Wagons is well-positioned to capitalize on India's status as the world's fastest urbanizing country among large economies, the growing consensus that mass-rapid transport systems are the sustainable response to vehicular pollution, and India's need to modernize legacy infrastructure to benchmark its logistics competitiveness with global standards.
The company serves railway engineering companies, the Indian Railway, private wagon aggregators, commercial vehicles OEMs, and Indian defence and logistics companies. Under recent contracts, Jupiter Wagons is manufacturing and supplying 2237 BOSM wagons specially designed for transporting bulk goods such as coal and iron ore within the Indian Railway Network, a project poised to improve transit times, create job opportunities, increase overall capacity, and reduce transportation costs across India.
The company's strategic focus on innovation, backward integration, and expansion into electric mobility positions it well for future growth in India's evolving transportation landscape. With strong financial performance and a robust order book, Jupiter Wagons continues to strengthen its position as a leading player in India's railway transportation equipment sector.
