Jinkushal Industries IPO

Founded in November 2007, Jinkushal Industries Limited is an export trading company specializing in the global supply of construction machinery. The company operates in over thirty countries, including the UAE, Mexico, Netherlands, Belgium, South Africa, Australia, and the UK. It has earned a strong reputation for quality, customization, and service excellence. Jinkushal operates across three main business verticals: trading of customized and accessorized new construction machines, trading of used and refurbished machines, and manufacturing and exporting its proprietary brand HexL, which currently includes backhoe loaders designed for durability and performance.

As of April 2025, the company had supplied over 1,500 construction machines, including 900 new and 600 used or refurbished units. In the nine months ending December 31, 2024, it supplied 1,171 machines, showcasing significant growth. Its in-house refurbishment facility, supported by 48 skilled employees, plays a key role in reconditioning pre-owned machinery to meet strict quality and customer standards. The company also collaborates with independent refurbishment centers that follow its technical and operational guidelines. With a procurement network of 228 suppliers and a workforce of 90 permanent employees and 21 interns as of December 2024, Jinkushal Industries continues to expand its global footprint and strengthen its position in the international construction equipment market.

Jinkushal Industries IPO Strengths

• Jinkushal Industries has over five decades of experience in mining contracting, machinery, and logistics, building a strong foundation of industry expertise and credibility.
• Operates across export trading of new and refurbished construction machines, mining contracting and equipment rental, and logistics warehousing, creating multiple revenue streams.
• Recognized as a Three-Star Export House by the Government of India, underscoring robust export performance and compliance with international standards.
• Exports to multiple countries including the USA and UAE through subsidiaries and global partnerships, enhancing growth opportunities and market diversification.
• Established relationships with infrastructure companies, government entities, and mining corporations provide steady demand and long-term contracts.
• Owns well-equipped workshops, warehousing, and maintenance facilities ensuring quality refurbishment and timely delivery of equipment worldwide.

Jinkushal Industries IPO Risks

• The company derives a major portion of its revenue from export trading, particularly from select geographies like Mexico and the UAE. Any adverse changes due to economic, political, or regulatory conditions in these markets could negatively impact business operations and financial performance.
• The company relies on third-party suppliers for construction machinery without long-term procurement contracts. Disruptions in supply, quality issues, or price increases could materially impact the ability to fulfill orders and operate effectively.
• Geographic concentration in relatively few export markets increases vulnerability to country-specific risks including regulatory changes, trade restrictions, and economic instability.
• Faces strong competition from established and larger domestic and international construction equipment players, which could affect market share and pricing power.
• The company’s growth and operations are heavily dependent on the expertise and continuity of promoters and senior management. Loss of key personnel could adversely affect business.
• The business requires significant working capital to manage inventory and operational requirements, which could constrain liquidity during growth phases.