Jupiter Wagons Targets Rs 10,000 Crore Revenue In Two Years With EV Truck Foray

Jupiter Wagons aims to achieve a topline of Rs 10,000 crore with an Ebitda margin of 27% by FY27, driven by the company's new facilities and entry in the EV truck segment. Sharing the projection in an interview with NDTV Profit, Jupiter Wagons’ Managing Director Vivek Lohia said that the freight business will continue to deliver strong numbers for the company in the coming years.

“By FY27, after all the facilities come online, we are looking at a revenue of about Rs 10,000 crores. That has been our guidance. Going forward, the freight business will continue to remain strong. With all the businesses put together, I think Rs 10,000 crore is what we are looking at, along with EBITDA margins of 15% plus,” Lohia said.

The company has forayed into the electric light commercial vehicle (e-LCV) space with the launch of JEM Tez, a 1-tonne payload truck with a 2.5-tonne GVW. 

Commenting on the launch, Lohia added, “This is a segment that we are very excited about. If you look at the entire eLCV landscape in India, annually, it is close to a 5 lakh vehicle market. We expect in the next 2 years, there will be at least a 20-25% conversion, which is going to happen. We are talking about 4-wheeler trucks in the 1-tonne, 2-tonne, and 3-tonne capacities.

According to Lohia, the market size in the electric light commercial vehicle segment will grow to about one lakh vehicles in the next two to three years. 

He added that Jupiter Wagons will also launch 2-tonne and 3-tonne vehicles by the end of the year.

The company will produce the electric vehicles at its newly launched manufacturing facility in Inore’s Pithampur. The new unit will produce 8,000 vehicles annually in two to three years.

“In the 1st year, our strategy is to establish the product and build the necessary distribution and service network. We have already appointed 8 distributors across the major metros. Out of the 8, 3 dealerships have already started, and the other 4-5 will start in the next couple of months,” he said.

Jupiter Wagons shares were 4.61% higher at Rs 297 apiece on the NSE as of 10:45 a.m., compared to benchmark Nifty's dip of 0.3% to 22,051.90 points.