Rail wagon maker Jupiter bets big on electric trucks

The cash-rich, debt-light company, which counts the railways as its top client, is riding a wave of an upbeat rail freight market. But will its commercial EV plans come to fruition?

Within six months of listing, railway parts manufacturer Jupiter Wagons has seen its stock jump over 65% to hit a 52-week high last week.

Even though it’s fairly new at the bourses, the Kolkata-headquartered company, which counts the Indian Railways among its top clients, has been in the wagon-making business for the past 16 years. Armed with an A+ rating from ratings agency ICRA, the company boasts robust financials. 

Jupiter Wagons’s turnover crossed Rs 1,000 crore last fiscal year. For the quarter ended 30 September 2022, its operating profit margins rose to 12.22% from 9.97% in the same period last …


Aakriti Bhalla

Aakriti used to write at the intersection of public markets and large corporations. She joined The Morning Context from The Financial Express, where she was with the markets team, and before that had started out in business journalism as a correspondent with Reuters.