Jupiter Wagons Limited has informed the Exchange regarding a revised press release dated May 25, 2026, titled "JEM Energy Secures Strategic BESS MoUs with Chalukya Power and Pickrenew Energy, Sets Sights on INR 200 Crore Target for FY 2026-27".
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Jupiter Wagons' subsidiary JEM Energy signed MoUs with Chalukya Power and Pickrenew Energy for Battery Energy Storage Systems, adding 110 MWh to the orderbook. JEM Energy's current BESS orderbook stands at INR 150+ Crore, with a FY 2026-27 target of INR 200 Crore. The company outlined longer-term targets of INR 500+ Crore revenue for FY 2027-28 and INR 1,000 Crore by FY 2029-30. JEM Energy expects to become EBITA positive by FY 2027-28, backed by the Government of India's BESS policy push, including mandates for 4-hour storage with new renewable projects and a VGF scheme for 4,000 MWh of standalone BESS. The company positions itself as an indigenous BESS solutions provider targeting utility-scale and C&I deployments.
The announcement signals strong commercial momentum in the energy storage vertical, a new growth segment for Jupiter Wagons. The forward-looking revenue guidance raises (INR 200 Crore → 500 Crore → 1,000 Crore) signal management's growing confidence and could be viewed positively by investors, though execution on the ambitious multi-year targets remains key.