Jinkushal Industries Ltd (MAINBOARD)

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Jinkushal Industries

September 25, 2025 – September 29, 2025

Price ₹115 - ₹121
GMP Rumors * ₹17
Lot size 120
Allotment Sep 30, 2025
Listing Oct 3, 2025


Jinkushal Industries Subscription

Last updated on 28-Sep-2025 16:19:32

CategoryOfferedAppliedTimes
QIBs1919057805200.04
HNIs1439933100156806.96
 HNIs 10+95995537195203.87
 HNIs 2+479978629616013.12
Retail3361972261315607.77
Total6720962362277605.39
Application-Wise Breakup (Approx. no. of Apps)img
CategoryReservedAppliedTimes
HNIs (10L+)5714400.77
HNIs (2-10L)286345712.09
Retail280161818576.49
Total Applications: 185754
© IPO Premium
Subscription Demand (in ₹ crore)
CategoryOfferedDemandTimes
QIBs23.220.970.04
FIIs-0-
DIIs-0-
Mutual funds-0-
Others-0.97-
HNIs17.42121.196.96
HNIs 10+11.6245.013.87
HNIs 2+5.8176.1813.12
Retail40.68316.197.77
Total81.32438.365.39
QIB Interest Cost per share (7 Days)
@7%
₹0
@8%
₹0
@9%
₹0
@10%
₹0
@11%
₹0
@12%
₹0

Jinkushal Industries Lot(s) Distribution

Category Lot(s) Qty Amount Reserved
Retail 1 120 14520 28016
sHNI 14 1680 203280 286
bHNI 69 8280 1001880 571

Jinkushal Industries Reservation

Category Shares Offered %
Anchor 2878586 29.99%
QIB 1919057 19.99%
HNI 1439933 15%
Retail 3361972 35.02%
Total 9599548 100%

Jinkushal Industries About

IPO Details
Total Issue Size95,99,548 shares (aggregating up to ₹116.15 Cr)
Fresh Issue86,40,000 shares (aggregating up to ₹104.54 Cr)
Offer For Sale9,59,548 shares (aggregating up to ₹11.61 Cr)
Issue TypeBookbuilding IPO
Listing AtBSE, NSE
Share Holding Pre Issue2,97,46,000 shares
Share Holding Post Issue3,83,96,000 shares
Key Performance Indicator (KPI)
KPIMar-25Mar-24Mar-23
ROE28.30%55.19%51.95%
ROCE18.39%29.44%34.11%
RONW21.22%43.29%41.29%
EPS6.156.273.4
P/E Pre IPO18.8
P/E Post IPO24.26
Company Financial In Crore
Period Ended31-Mar-2531-Mar-24
Assets179.35109.44
Total Income385.81242.8
Profit After Tax19.1418.64
EBITDA28.627.57
NET Worth86.1943.07
Total Borrowing54.8246.04
Peers Comparison (Valuation)
CompanyP/E (x)CMP*(₹)Face value (₹)
Jinkushal Industries Limited--10
Action Construction Equipment Limited31.181071.52
Vision Infra Equipment Solutions Limited10.94174.7510

Source:NAV per Share is calculated as Net Worth divided by outstanding equity shares as on March 31, 2025, adjusted for bonus and split. 2) P/E Ratio has been computed based on the closing market price of the Equity Shares as on September 01, 2025 on www.nseindia.com, divided by the diluted EPS as on March 31, 2025. For Action Construction Equipment Ltd., EPS is from its Annual Report;
Peers Comparison (Financial Performance)
CompanyNAV/Share (₹)RoNW (%)EPS (Basic) (₹)
Jinkushal Industries Limited28.9821.22%6.15
Action Construction Equipment Limited135.625.34%34.37
Vision Infra Equipment Solutions Limited66.8220.68%15.97
About Company 

Incorporated: November 2007
Nature of Business: Export trading company specialising in construction machinery with a global footprint.

Global Presence:

Supplies construction machinery across 30+ countries, including the UAE, Mexico, Netherlands, Belgium, South Africa, Australia, and the UK.
Built a strong reputation for quality, customisation, and service excellence.

Business Verticals:

Customised New Construction Machines:
Export of new, customised, modified, and accessorised machines.
Tailored solutions for diverse operational and regional requirements.
Used & Refurbished Construction Machines:
Reliable and cost-effective alternatives.
Machines refurbished to ensure performance and compliance with global quality standards.
Proprietary Brand – ‘HexL’:
Own brand of construction equipment.
Currently offers backhoe loaders engineered for performance, durability, and value.

Growth & Operations:

Machines Supplied:
Over 1,500 units supplied as of April 2025 (900 new, 600 refurbished).
In 9M FY25 (ending Dec 31, 2024): 1,171 machines supplied (815 new, 356 refurbished).
Refurbishment Facility:
In-house unit with 48 skilled employees.
Ensures customisation, reconditioning, and compliance with strict technical standards.
Supported by non-exclusive third-party refurbishment centres following company SOPs.

Strength

Market Leadership & Global Reach: Recognized as the largest Non-OEM exporter of construction machines with a 6.3% market share (CareEdge Report). Certified as a Three-Star Export House by DGFT, exporting to 30+ countries including the UAE, USA, Mexico, UK, and Australia.

Sustainability & Circular Economy Focus: Extends machine life through systematic refurbishment, reducing demand for new production and thereby saving raw materials, energy, and carbon emissions while ensuring reliable performance.

Diversified Product Portfolio: Offers a broad range of machines—from hydraulic excavators and cranes to backhoe loaders and asphalt pavers—covering new, refurbished, and proprietary HexL brand equipment, ensuring resilience against market fluctuations.

Weakness

High Dependence on Export Markets : The company is heavily dependent on exports, with nearly 99% of revenue derived from international markets, exposing it to global trade risks.

Geographic Concentration Risk: A significant portion of revenue is concentrated in Mexico and UAE, making the company vulnerable to adverse developments in these markets.

Reliance on Third-Party Suppliers: The company relies on a network of domestic and international third-party suppliers without long-term contracts, creating risks of supply disruptions and price volatility.

Jinkushal Industries Lead Manager(s)

Jinkushal Industries Address

H. No. 260, Ward No. 42
Opp. C. M. House Near Chhattisgarh Club,
Civil Lines
RaipurChhattisgarh, 492001
Emailcompliance@jkipl.in
Website:  https://www.jkipl.in/

Jinkushal Industries Registrar

Bigshare Services Pvt Ltd
Address: Bigshare Services Pvt Ltd 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis,Makwana Road, Marol, Andheri(E), Mumbai - 400 059

Jinkushal Industries Reviewers

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