Meet one of Kolkata’s richest persons, founded Rs 13300 crore company, his net worth is…

A veteran of the railway wagon industry, Murari Lal Lohia shot into the 2023 Hurun India Rich List after the stock of his company skyrocketed by 253 percent in just six months. Lohia’s listed Kolkata-headquartered Jupiter Wagons today commands a market cap of over Rs 13,300 crore. The spike in his wealth has propelled Lohia into the list of richest persons in West Bengal capital Kolkata. As per 360 ONE Wealth Hurun India Rich List 2023, Murari Lal Lohia’s wealth is pegged at Rs 7,900 crore.

Murari Lal Lohia founded Jupiter Wagons in 2006 along with his son Vivek Lohia who now serves as the MD of the company. The firm has expanded from railway wagons to commercial vehicle business including Jupiter Electric Mobility (JEM), the EV arm of Jupiter Wagons Limited which is in a close contest with the likes of Tata Motors and Mahindra & Mahindra in the electric mobility space.

The company launched two new vehicles, JEM Tez and EV Star CC at the Auto Expo 2023. While rail wagons accounted for around 70 percent of the firm’s business in 2021-22, commercial vehicle business is gaining traction and stood at 24 percent share. In 2019, Jupiter acquired MP-based company Commercial Engineers and Body Builders Co. Ltd (CEBBCO).

Jupiter Wagon’s listed on the BSE in 2022. It has manufacturing plants in West Bengal’s Kolkata, Jharkhand’s Jamshedpur, Madhya Pradesh’s Indore and Jabalpur and Himachal Pradesh’s Baddi. JWL has a capacity to manufacture 8000 wagons annually. It has joint ventures with big global players like Tatravagonka, DAKOCZ and CAF. .