Jupiter Wagons Limited announced a key board appointment on December 15, 2025, strengthening its leadership team with the addition of an experienced rail industry executive. The company's Board of Directors approved the appointment of Mark Damian Stevenson as Additional Non-Executive Non-Independent Director, marking a strategic move to enhance the board's expertise in rail logistics and operations.

Board Meeting Outcome

The Board of Directors, acting on recommendations from the Nomination and Remuneration Committee, approved Stevenson's appointment during their meeting held on December 15, 2025. The meeting commenced at 11:40 AM and concluded at 12:45 PM.

Shareholder Approval Process

The appointment is subject to approval from the company's shareholders through postal ballot. The Board has approved the postal ballot notice, and Jupiter Wagons will communicate the process, timelines, and other requisite details regarding the postal ballot in due course.

Director Profile and Experience

Mark Damian Stevenson brings extensive qualifications and experience to Jupiter Wagons' board. He is a graduate with MA (Oxon) in Modern Languages from the University of Oxford and qualified as a Chartered Accountant (ICAEW) with PriceWaterhouseCoopers in 1989.

Stevenson is a seasoned senior rail industry executive with more than three decades of leadership experience across European freight railcar leasing, financial stewardship, and large-scale operational transformation. He played a significant role in developing a Common Debt Platform with an issue volume of over $3.00 billion.

Leadership Track Record

Stevenson's notable achievements include his role at VTG AG, which was listed on the SDAX in Germany until 2019 when it was taken private following a successful takeover by Morgan Stanley Investment Partners. As acting CEO, he provided strategic continuity and leadership during a critical phase of organizational transition in the final sale process.

His leadership contributed to ensuring financial stability, stakeholder alignment, and smooth execution of the transition, which resulted in a remarkable increase in the company's equity value, reflecting strong investor confidence and sustained business performance.

Regulatory Compliance

The appointment complies with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, under Regulation 30. Stevenson is not debarred from holding the office of director pursuant to any SEBI order or any other authority. Additionally, he is not related to any Director on the Board of Jupiter Wagons Limited.

Jupiter Wagons Limited , a leading player in the Indian railway equipment sector, has reported a robust recovery in its Q2 FY26 performance, marking a significant turnaround from the challenges faced in the previous quarter.

Key Financial Highlights

The company's performance in Q2 FY26 showcases a strong rebound from the supply chain disruptions that affected its operations in Q1. The resolution of wheelset supply issues from late July onwards has been a key factor in this recovery.

Order Book and Future Outlook

Jupiter Wagons maintains a robust order book of INR 5,538.00 crore, providing strong visibility for future quarters. The company's Managing Director, Vivek Lohia, expressed confidence in the company's trajectory, stating, "We expect continued margin improvements in the second half, with subsidiaries including electric mobility and BESS businesses targeting breakeven by FY27."

Business Segment Performance

Wagon Business

While still a significant contributor to revenue, the company aims to reduce its dependence on this segment to about 50% of overall revenues by FY28.

Electric Mobility

The company has expanded its dealership network to 10 locations across India, with plans to add 4-5 more by the end of the financial year. The electric vehicle sales are growing at 20-30% month-on-month.

Battery Energy Storage Systems (BESS)

Jupiter Wagons has launched containerized BESS ranging from 241 Kilowatt to 3 Megawatt, suitable for various applications. The company has already secured significant orders in this segment.

Wheelsets and Components

The subsidiary, Jupiter Tatravagonka Railwheel Factory, has secured orders worth INR 328.00 crore for LHB Axles and wheelsets for the Vande Bharat high-speed train project.

Strategic Initiatives

• The company is progressing with its INR 2,500.00 crore investment in a forged wheel and axle facility in Odisha, expected to be commissioned by 2027.
• Jupiter Wagons is exploring opportunities in the passenger coach segment, with potential announcements expected by FY27.
• The company has been assigned an ESG rating of 45 by ESG Risk Assessments and Insights Limited, reflecting its commitment to sustainable business practices.

Management Commentary

Vivek Lohia, Managing Director, commented on the future outlook: "As we step into the second half of FY26, our priorities remain clear: to scale responsibly, innovate continuously, and create enduring value for all our stakeholders. With strong momentum in our performance, headroom to optimize capacity, and progress in expansion plans, Jupiter Wagons Limited is well-positioned to sustain its growth trajectory and lead the next phase of transformation."

While the company may not reach its earlier guidance of INR 5,000.00 crore top line by FY26 due to Q1 challenges, it remains optimistic about maintaining its margin guidance and achieving strong growth across its diversified business segments.

Jupiter Wagons' focus on expanding its product portfolio, particularly in high-growth areas like electric mobility and energy storage, positions it well to capitalize on the evolving needs of India's transportation and energy sectors.