This strategic move marks a significant milestone for the company, positioning it as the first rolling stock manufacturing company to have its own wheel plant.

The firm is poised to invest an additional Rs 1,000 crore over the next two years. These investments will enhance production capacity and drive the plant towards full backward integration. The ultimate goal is to cater to the burgeoning needs of the Indian railway sector, with aspirations to transform it into an export hub, leveraging its existing esteemed partners.

With a production capacity of 20,000 Wheels and 10,000 Axles annually, the acquisition promises to bolster the company’s self-reliance and operational efficiency while reducing dependency on imported wheels. BIPL's esteemed clientele includes JWL, BEML., Alstom Rail Transportation India Pvt., Plasser India Pvt., and Titagarh Rail Systems.

Vivek Lohia, managing director of Jupiter Wagons said, “This strategic move not only strengthens our position as an innovative leader in integrated mobility solutions but also propels us towards becoming a comprehensive rolling stock manufacturer. With our commitment to excellence and the support of esteemed partners, we are poised to meet the evolving needs of the Indian railway sector while making significant strides in the global market. This acquisition move underscores our unwavering dedication to innovation, efficiency, and customer satisfaction.”

Jupiter Wagons is a leading provider of complete mobility solutions with a diverse product portfolio. Its products include wagons, couplers, draft gears, bogies, crossings, and accessories for various types of coaches and vehicles.

The company’s net profit surged 82.7% to Rs 81.45 crore in Q3 FY24 as compared to Rs 44.59 crore recorded in Q3 FY23. Revenue from operations jumped 39% YoY to Rs 895.84 crore in the quarter ended 31 December 2023