Jupiter Wagons Limited announced that its subsidiary, Jupiter Electric Mobility Pvt. Ltd. (JEM), has secured strategic Memoranda of Understanding (MoUs) with Chalukya Power and Pickrenew Energy. These agreements add 110 MWh of Battery Energy Storage System (BESS) business to JEM Energy's orderbook for FY 2026-27, comprising a mix of Utility-scale and Commercial and Industrial (C&I) deployments.

Orderbook and Revenue Targets

Following the new agreements, JEM Energy's current BESS orderbook stands at INR 150+ Crore. This includes engagements with private renewable energy developers and select Public Sector Undertaking (PSU) clients like Power Grid. The company is targeting INR 200 Crore in combined orderbook within the Battery and BESS segment for FY 2026-27. The table below outlines JEM Energy's phased revenue milestones across its battery and BESS vertical:

Strategic Growth and Outlook

Looking ahead to FY 2027-28, JEM Energy is targeting INR 500+ Crore revenue in the battery and BESS vertical. The company expects to turn EBITA positive by FY 2027-28, driven by a growing orderbook and expanding client relationships. Over a three-year horizon, the subsidiary has set an aspirational target of INR 1,000 Crore revenue in the battery and BESS vertical by FY 2029-30.

The MoUs with Chalukya Power and Pickrenew Energy represent a significant step in JEM Energy's strategy to establish itself as a leading indigenous BESS solutions provider in India. The agreements span Utility-scale projects supporting grid stability and renewable energy integration, as well as C&I deployments serving industrial consumers seeking reliable, cost-efficient energy management.

Jupiter Wagons has submitted a declaration confirming that its promoters and promoter group have not encumbered any shares held by the company during the financial year ended March 31, 2026. The disclosure was made in compliance with Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Vikash Lohia, Dy. Managing Director and Promoter of Jupiter Wagons, filed the declaration on behalf of the promoters and promoter group, along with persons acting in concert. The statement confirms that no direct or indirect encumbrance was created on the shares held by these entities during the specified financial year.

The declaration covers a total of 12 entities and individuals associated with the company. The list includes four private limited companies, one Hindu Undivided Family (HUF), and seven individuals categorized as either promoters or members of the promoter group.

Promoter and Promoter Group Details

The following table outlines the entities and individuals included in the disclosure:

The filing was addressed to the National Stock Exchange of India Ltd and BSE Limited, as well as the company's internal compliance officers. Jupiter Wagons requested the exchanges to update their records with this information.