The company said the agreement positions India on the global railwheel manufacturing map and makes JTRWF the first Indian railwheel manufacturer to export wheelsets globally. Commercial supplies under the agreement are expected to begin by the end of calendar year 2027.
The agreement is structured for a period of 10 years and establishes a procurement framework under which Tatravagonka and its affiliates will source railway wheels, axles and wheelsets from JTRWF. The European rail wagon manufacturer currently consumes around 20,000–30,000 wheelsets annually.
Also read: HFCL shares jump 8% on ₹135 crore RailTel defence order; stock up 152% in 2026
JTRWF is developing a greenfield manufacturing facility in Odisha with a planned annual production capacity of one lakh wheelsets. It expects to export nearly 50,000 wheelsets annually to Europe over the long term. The project involves an estimated investment of about ₹3,000 crore and is expected to cater to both domestic and international demand.
Commenting on the development, Managing Director Vivek Lohia said the agreement marks an important milestone for both JTRWF and India’s rail manufacturing ecosystem.
“Through this agreement, India — that was a net importer of wheelsets — will now become a major exporter to the world,” he said.
Also read: Zen Technologies jumps 6% on launch of India’s first AI-powered Smart Border Suite
Lohia added that the company expects export revenues of around ₹1,000 – ₹1,500 crore over the coming years from the agreement.
Pawan Kumar Agrawal, CEO and Whole-Time Director of JTRWF, said the long-term agreement provides strategic visibility for the upcoming Odisha facility and reinforces India’s potential to emerge as a global supplier of forged wheelsets.
Jupiter Wagons manufactures freight wagons, locomotives, commercial vehicles and rail components, and has manufacturing facilities across Kolkata, Jamshedpur, Indore, Jabalpur, Bengaluru and Aurangabad.
Shares of Jupiter Wagons are off the initial spike, currently trading 3.7% higher at ₹300.5. The stock is down 11% so far this year.
