Jupiter Wagons Targets ₹1,000 Crore BESS Order Book by FY27

Jupiter Wagons is targeting a ₹1,000 crore order book in the Battery Energy Storage System (BESS) and battery segment by FY27, as its subsidiary Jupiter Electric Mobility (JEM) expands its presence in the energy storage market.

JEM’s existing BESS order book has crossed ₹500 crore, following utility-scale projects secured during 2026. The company had earlier secured two standalone BESS projects in West Bengal with a combined capacity of 100 MW/400 MWh, valued at approximately ₹400 crore.

Recent source alerts have also reported new standalone BESS project allocations of 41 MW in Uttarakhand and 50 MW in West Bengal. These project allocations were not independently verified in the source material.

JEM is targeting EBITDA positivity by Q3 FY27 and full profitability by FY28. The subsidiary is scaling up its modular containerized BESS business alongside its commercial electric vehicle operations.

At the consolidated level, Jupiter Wagons reported revenue of ₹670.7 crore in Q1 FY27, compared with ₹459.3 crore in Q1 FY26, representing year-on-year growth of around 46%. Consolidated EBITDA margin stood at 9.7% in Q1 FY27, compared with 13% in the corresponding quarter of the previous fiscal year.

The company has been expanding its energy storage activities through utility-scale and private-sector BESS opportunities. Its previous standalone BESS projects in West Bengal form part of its broader energy storage pipeline, with the company targeting a ₹1,000 crore order book by FY27.

In August 2026, Jupiter Wagons secured the two standalone BESS projects from West Bengal State Electricity Distribution Company Limited (WBSEDCL), totaling 100 MW/400 MWh. The company is also developing battery manufacturing capabilities, including cell-to-battery manufacturing lines in Indore.

The expansion comes amid increasing demand for BESS in India to support renewable-energy integration, grid stability and peak-load management.