Murari Lal Lohia, a stalwart in the railway wagon industry, has surged onto the 2023 Hurun India Rich List, propelled by the extraordinary 253 percent surge in the stock value of his company, Jupiter Wagons, in a mere six months. The Kolkata-based company, under Lohia’s leadership, has achieved a remarkable market capitalization exceeding Rs 13,300 crore.
Jupiter Wagons, founded by Murari Lal Lohia in 2006, has seen a transformative journey from its roots in railway wagons to establishing a formidable presence in the commercial vehicle sector. Murari Lal Lohia’s son, Vivek Lohia, serves as the Managing Director of the company, contributing to its strategic growth and diversification. The company’s ventures extend to the electric mobility space through Jupiter Electric Mobility (JEM), a significant player competing with industry giants such as Tata Motors and Mahindra & Mahindra.
In a notable move at the Auto Expo 2023, Jupiter Wagons introduced two new electric vehicles, namely JEM Tez and EV Star CC, showcasing its commitment to innovation and sustainability. While railway wagons constituted around 70 percent of the company’s business in the financial year 2021-22, the commercial vehicle segment has been steadily gaining momentum, representing a 24 percent share. The strategic acquisition of Commercial Engineers and Body Builders Co. Ltd (CEBBCO) in 2019 further underscored Jupiter Wagons’ commitment to expanding its footprint in the industry.
Jupiter Wagons Limited marked its presence on the Bombay Stock Exchange (BSE) in 2022, reflecting its transition into a publicly listed entity. The company boasts manufacturing facilities strategically located in Kolkata (West Bengal), Jamshedpur (Jharkhand), Indore and Jabalpur (Madhya Pradesh), and Baddi (Himachal Pradesh). With an annual manufacturing capacity of 8,000 wagons, Jupiter Wagons has solidified its position through strategic joint ventures with global heavyweights like Tatravagonka, DAKOCZ, and CAF.
According to the 360 ONE Wealth Hurun India Rich List 2023, Murari Lal Lohia’s wealth is estimated at an impressive Rs 7,900 crore. His inclusion in the prestigious list underscores not only the financial success of Jupiter Wagons but also the visionary leadership and strategic prowess demonstrated by Murari Lal Lohia in steering the company towards new heights of success. As Jupiter Wagons continues to diversify and innovate, its impact on the railway and commercial vehicle sectors remains a noteworthy chapter in India’s industrial landscape.