Jupiter Wagons: Annual Report Summary 2023
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About the company:
Jupiter Wagons Limited (JWL) is an integrated railway engineering company that primarily manufactures freight wagons for the Indian Railways. Over time, they have diversified into the manufacturing of application-based load bodies on commercial vehicles, braking systems, and marine containers for domestic and international use.
It was incorporated in 2006 and is a part of the Kolkata-based Jupiter Group. JWL has manufacturing facilities located in Kolkata, Jamshedpur, Indore, Jabalpur and Baddi.
Their wagon manufacturing capacity has been raised from 6,000 to 8,000 units per annum and is further growing towards 10,000 units per year. They manufacture various components of a typical wagon like couplers, bogies, draft gears, CRF sections, etc.
Product Portfolio:
Rail Mobility Business
Wagons
Covered Wagons
Container Carrier Wagons
Cement Wagons
Car Carrier Wagons
Coil Carrier Wagons
Track Solutions
CMS crossings for Indian Railways
Weldable CMS crossings for IR & DFC
Explosion hardenable AREMA frogs (CMS crossings) for North American railroads
Weldable CMS crossings for European Railways
Wagon and Passenger Coach Accessories
Wagon Accessories
Alloy steel cast bogies
High tensile centre buffer couplers
High-capacity draft gears
Passenger coach accessories
Fabricated bogies
Balanced draft gears
Axle-mounted disc brake system
Brake disc and split brake disc
Road and Multimodal Mobility Business
Commercial Vehicles
Load bodies for commercial vehicles (tippers, trailers, tankers etc) for mining, infrastructure, and construction etc
Troop carrier and water bowser for defence sector Fire engines
Ambulance & Municipal applications
Light recovery vehicles
Containers
ISO Marine containers
Refrigerated containers
Special purpose containers
Truck mounted containers
Partnerships:
Tatravagonka Poprad has built over 100 years of experience in freight wagon production, endurance, and commitment. Tatravagonka has more than 40% of the European market share and an annual turnover of over € 350 million.
Budamar Logistics provides logistical support. It is a European leader in logistics, freight forwarding and multimodal transport. The company has experience in serving marquee customers with its diversified service portfolio.
Green Power Motor Company was founded in 2010 with the goal of increasing EV adoption by making battery-electric buses and trucks affordable, durable, and simple to deploy. Green Power provides commercial vehicles for delivery, public transportation, schools, vanpools, micro-transit, shuttles, and other applications. Products are ready and being tailored to the Indian market.
LAF has been in business for over 80 years and is in over 120 countries currently. LAF designs, develops and manufactures traction automatic couplers, drawbars, draught gear, heavy-duty traction devices, and buffers for both public and private railway networks. LAF owns Lloyds ABC Coupler and has a repository of over 6,000 coupler designs from around the world.
CAF is a pioneering company in railway mass transit systems for passengers, based out of Spain with a strong global footprint. Jupiter has established MOU as an Indian manufacturing arm for CAF, aiming at various metro urban mass rapid transit systems in India.
DAKO -CZ is a leading manufacturer of pneumatic, electromechanical, and hydraulic brake systems for rolling stock. The company is based in Temonice, Czech Republic, and has an annual turnover of 61 million Euro, 77% of which comes from foreign orders. The joint venture will provide high-speed passenger train brake systems in India. Indian Railways has already approved an axle-mounted disc brake system.
Kovis Livarna is a company with a long history in the foundry industry. Their expertise is in the production of castings from grey and nodular cast iron. This joint venture's products include brake discs, axles, and gearboxes for railway rolling stock. Indian Railways has already approved brake discs.
Talleres Alegra is a 108-year-old company that specialises in the production of railway track materials and equipment. Continuous improvement in the design, manufacture, and technical assistance of fixed track material for both conventional lines and metres, trams, and high-speed lines. The joint venture will produce Weldable Cast Manganese Steel (CMS) Crossings for both BG (Broad gauge) and Metro. The JV has a ₹ 200 crs order book.
TSAW Drones is a drone technology company established on June 26, 2019. It aims to provide safe, efficient, and effective drone solutions for various industries, including agriculture, surveillance, logistics, and surveying, to name a few.
Acquisition in FY2022-23
Selected as the successful resolution applicant of Stone India Limited which used to supply engineering products to Indian Railways. Stone India Limited is in the brake systems and train lighting alternators segment and it has been a vendor for locomotive brake systems for the railroad industry.
Outlook for FY 2023-24 and Ahead:
Wagon and rail components
The Indian Railways placed the highest-ever order for about 72,000 wagons last year and reportedly another 40,000 wagons to come with which railways look to be poised to increase the share of railways in freight transportation from about 27 per cent to 45 per cent by 2030.
The allocation towards rolling stock has more than doubled Y-o-Y to 7,581 crores in the union budget 2023-24 from 15,158 crs (revised budget) in 2022-23. Indian Railways has recorded the best-ever performance in its recorded history in terms of the output from the Freight Business in the financial year 2022-23.
Along with excellent performance in transporting coal to the Powerhouses, an increase in automobile loading has been another highlight of the Freight Business in FY2022- 23 and 5527 rakes were loaded in FY2022-23, as compared to 3344 rakes last year i.e., a growth of 65%.
Private sector ownership of wagons is on the rise driven by some of the recent schemes announced by the Indian Government. Industries such as cement, coal, steel, automobiles etc. which have a large freight movement through rail have been procuring wagons from domestic manufacturers.
There is also potential to transport CV parts and two-wheelers through the railway network which will add to wagon procurement by automobile manufacturers and logistics companies. Further, defence services are also proposing to procure wagons for the transportation of utilities etc.
Load body and components for Commercial Vehicles
Commercial vehicle (CV) industry volumes are to grow by 7-10% in FY2024, supported by replacement demand, pick-up in mining, infrastructure, and construction activities, and overall healthy fleet utilisation levels. This is despite the 5% YoY and 41% sequential contraction in volumes in April 2023 due to expected price increases with the transition to BS6 2.0 and associated pre-buying in March 2023.
Containers
The container manufacturing facility is principally targeting to manufacture Hi-Tech and Special containers like power packs, data centres, refrigerated containers etc. However, ISO and domestic containers will continue to be produced for both national and international customers.
Container manufacturing requires a special grade Corten-A steel which was not manufactured on a large scale in India. This is being changed by the government through its policies currently.
In the last two years, the company has established itself as a market leader in Specialised Container manufacturing. The company has entered strategic manufacturing of Data Centres.
For Amperehour, Singapore, Schneider and Delta, Taiwan new prototypes have been successfully developed by the company. By year-end, the company would be the market leader in manufacturing and a one-stop manufacturing hub for specialised containers for America/ EU/ Southeast Asia & Australia.
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Very nice report ...