Please find the enclosed press release to be issued by the Company.
JWL · price
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Jupiter Wagons' subsidiary JEM Energy signed MoUs with Chalukya Power and Pickrenew Energy for 110 MWh of Battery Energy Storage System (BESS) projects spanning utility-scale and commercial/industrial deployments. The current BESS orderbook stands at INR 150+ Crore, including engagements with Power Grid and private renewable developers. The company has set clear revenue targets: INR 200 Crore orderbook for FY 2026-27, INR 500+ Crore revenue with EBITA positivity for FY 2027-28, and INR 1,000 Crore by FY 2029-30. The expansion is backed by government policy support including VGF schemes for standalone BESS projects totaling 4,000 MWh.
This signals Jupiter Wagons' diversification into the high-growth BESS segment through its JEM subsidiary, with credible near-term targets and government policy tailwinds supporting long-term revenue expansion ambitions.