Jinkushal Industries Limited IPO

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JKIPL is a leading player in the export trading of construction machines across global markets. Recognized as a Three-Star Export House by the Directorate General of Foreign Trade (DGFT), Government of India, the company holds a 6.9% market share, making it the largest Non-OEM exporter of construction machines as per the CareEdge Report.

To date, JKIPL has exported construction machines to 30+ countries, including UAE, Mexico, Netherlands, Belgium, South Africa, Australia, and the UK.

Business Model

Primary Business Verticals

1. Export of Customized/Modified New Machines: Trading of new construction machines that are customized, modified, and accessorized as per customer requirements.

2. Export of Used/Refurbished Machines: Refurbishing and upgrading used machines to ensure performance standards, durability, and customer-specific applications.

3. Own Brand Export – ‘HexL’ Machines: Export of HexL-branded construction machines (currently in the backhoe loaders category) to expand brand presence in international markets.

4. Additional Revenue Streams: Logistics Warehousing Leasing and Rental of Construction Machines

Operational Strengths

– Beyond plain export trading, JKIPL focuses on refurbishment, customization, modification, and accessorization of machines.

– Work carried out in-house or through third-party vendors.

– Ensures machines are ready-to-use, optimized for performance, and aligned with customer-specific requirements.

Market Positioning and Customer Benefits

Construction machines are high-value assets with strong resale demand, making them attractive to contractors and businesses needing immediate deployment. Their durability and resale value offer flexibility and cost-effectiveness. By supplying ready-to-use refurbished or customized machines, we help customers bypass the typical 4–6 month lead time for new machines, ensuring quicker availability and faster deployment.

Objects of the Jinkushal Industries Limited IPO:

The company intends to use the fund for the following objects: 1. Funding the working capital requirements of the Company (Rs. 72.67 Cr) 2. General Corporate Purposes

Jinkushal Industries Limited IPO Details:

Open Date: Sep 25 2025
Close Date: Sep 29 2025
Total Shares: 95,95,483
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 116.11 Cr.
Lot Size: 120 Shares
Issue Price: ₹ 115-121 Per Equity Share
Listing At: NSE,BSE
Listing Date: Oct 03 2025

Promoters And Management:

1. Sandhya Jain – Admin Head, Sandhya Jain, associated with the Company since 2009, currently serves as the Admin Head. She earlier held the position of Director (2009–2018) and took charge as Admin Head in 2021. With 10+ years of experience in administration and corporate affairs, she oversees CSR initiatives, HR functions, compliance, and internal control processes. 2. Tithi Jain – Research & Data Analysis Head, joined the Company in 2019 and became Research & Data Analysis Head in 2022. A B.Tech in Computer Science & Engineering from JNTU Hyderabad, she has 5+ years of experience in market research, data analysis, and customer acquisition, with prior experience at Sum Total Systems India Pvt. Ltd. Her responsibilities include international market research, lead generation, competitor analysis, and strategy formulation for global B2B sales. 3. Yashasvi Jain – Media & Marketing Head, associated with the Company since 2018, was promoted as Media & Marketing Head in 2022. She holds a Bachelor of Architecture from Ansal University, Gurgaon, and has 7 years of experience in digital marketing and warehouse management. She manages website, social media, digital/print campaigns, vendor coordination, and ROI analysis along with warehouse design and planning.

Financials of Jinkushal Industries Limited IPO:

Particulars FY 2024-25 FY 2023-2024 FY 2022-2023
Revenue from Operations (Cr) 380.55 238.59 233.45
EBITDA (Cr) 28.6 27.56 14.67
EBITDA Margins 7.52% 11.56% 6.29%
PAT (Cr) 19.14 18.64 10.11
PAT Margins 5.03% 7.81% 4.33%
ROCE 18.39% 29.44% 34.11%
Debt to Equity Ratio(In Times) 0.58 1.06 0.66
Operating Cash Flows -11.24 -23.83 10.52

Comparison With Peers:

Companies Revenue (in cr) EBITDA Margins PAT Margins ROCE D/E Ratio MCap (in cr) P/E
Jinkushal Industries Limited 380.55 7.52% 5.03% 18.39% 0.58 464.42 24.26
Action Construction Equipment Limited 3327 15% 12.29% 40.10% 0.01 13,636 32.2
Vision Infra Equipment Solutions Limited 443 27% 7.67% 19.60% 1.69 603 19.4

Lead Manager of Jinkushal Industries Limited IPO:

  1. GYR CAPITAL ADVISORS PRIVATE LIMITED

Registrar of Jinkushal Industries Limited IPO:

  1. Bigshare Services Private Limited

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