[6] Commercial Engineers & Body Builders Company Ltd (CEBBCO), a Madhya Pradesh based manufacturer of tipplers, trailers, and specialized defence vehicles, was acquired by Jupiter Wagons Limited in a buyout of its organization in 2019 under a National Company Law Tribunal (NCLT) governed stressed asset sale.

[6] Jupiter Wagons Ltd was selected as the successful resolution applicant by the Committee of Creditors of Stone India Ltd, which used to supply electrical engineering products to Indian Railways such as Pantograph.

Both JWL and Stone India being engaged in the same line of activity, the acquisition of Stone India by JWL was thereby slated to provide natural synergy to the company.

[9] The company has reported total income of Rs.2073.3345 crores during the Financial Year ended March 31, 2023 as compared to Rs.1181.7454 crores during the Financial Year ended March 31, 2022.

The company has posted net profit of Rs.120.78 crores for the Financial Year ended March 31, 2023 as against net profit of Rs.49.6759 crores for the Financial Year ended March 31, 2022.