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Mobility solutions provider Jupiter Wagons is eyeing a 20-fold increase in its exports to ₹2,000 crore by the end of the next financial year.
The company, a part of the Kolkata-based Jupiter Group, is one of the leading players in the Indian railway wagon manufacturing industry. It has diversified into the manufacturing of braking systems, components of rolling stocks such as wheel sets and application-based load bodies on commercial vehicles.
“We are currently exporting CMS crossings and brake systems mainly in North America and Europe. In a year we do around ₹100 crore of exports. By FY26-end, our exports could reach ₹2,000 crore,” Managing Director Vivek Lohia told businessline.
Wheels of fortune
Lohia said apart from brake systems and crossings, wheels would be the company’s major export item. For wagon exports, the company is looking at overseas markets such as Africa and South-East Asia. “Bangladesh and Sri Lanka are big markets,” he said.
Jupiter Wagons is manufacturing wheels at its plant in Maharashtra’s Aurangabad. “This financial year, we will be producing 20,000 wheels from here. We have already started augmenting the manufacturing capacity at the plant, and in the next financial year the capacity will go up to around 30,000 wheel sets per annum,” Lohia said, adding demands for wheel sets were huge in both domestic and international markets.
The company plans to invest around ₹1,200 crore in the business of wheel manufacturing to augment capacity to meet the demands. Last week, it announced the successful completion of its Qualified Institutional Placement, raising around ₹800 crore.
JWL diversified into wheel manufacturing by acquiring Bonatrans India for a sum of ₹271 crore in March this year. This strategic move made it the first rolling stock manufacturing company to have its own wheel plant.
For wagon manufacturing, the company has two plants — in West Bengal’s Bandel and Madhya Pradesh’s Jabalpur.
“Last year, we manufactured close to 8,000 wagons per month. This year, our target is to take the capacity to 10,000 units per month,” Lohia added.
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