| Railway Engineering and Rolling Stock | Manufacture of freight wagons, passenger coach components, wheelsets, axles, braking systems, and track solutions | Integrated manufacturing facilities, technology partnerships, strategic JV alliances | Indian Railways, Defence, freight operators; B2B | Brake systems, wheelset manufacturing with proprietary technology | 2800 | 70 | Sale of wagons, components, maintenance and refurbishment contracts | Contract-based sales with long-term orders and service agreements | Rail infrastructure expansion, Make in India push, orders for high-speed trains | Jupiter Wagons, Bonatrans India, Stone India |
| Commercial Vehicle Bodies and Electric Mobility | Load bodies for commercial vehicles, electric light commercial vehicles, battery energy storage systems | Proprietary EV platforms, expanding dealership network, international technology collaborations | Logistics firms, municipal bodies, clean energy operators; B2B and B2C | Electric vehicle sales and battery storage solutions | 1200 | 30 | Direct sales of vehicles, BESS units, subscription for after-sales | Product sales, service contracts, dealership channels | Growth in electric vehicle adoption, urban logistics demand, renewable energy storage needs | Jupiter Electric Mobility (JEM) |
