Jinkushal Industries IPO: Check IPO Date, Lot Size, Price & Details

Introduction:

Jinkushal Industries Limited (JKIPL), established in 2007, is a leading player in the export and trading of construction and mining equipment. The company has gradually transformed from a trading-based entity into a recognized global exporter of both new and refurbished construction machinery. Its product offerings include hydraulic excavators, backhoe loaders, cranes, soil compactors, motor graders, pavers, and mining dump truck

The company primarily operates in the Non-OEM export segment, where it has built a reputation for sourcing, customizing, and refurbishing pre-owned equipment before supplying it to international customers. This approach allows JKIPL to serve clients who seek cost-effective solutions, particularly in developing markets, while also aligning with global sustainability trends.JKIPL has established a strong international footprint, exporting to over 30 countries, including the UAE, Mexico, Netherlands, Belgium, South Africa, Australia, and the UK

The company has also set up subsidiaries in the UAE and USA, enabling better access to international customers, cost-efficient logistics, and enhanced after-sales support.Recognized as a Three-Star Export House by the Government of India, JKIPL has steadily grown into one of the largest Indian Non-OEM exporters of construction equipment, holding a 6.9% market share in this segment. The business model combines equipment trading, refurbishment, leasing, and logistics services, positioning the company as an integrated solutions provider in the heavy machinery value chain.

IPO Details:

Objectives of Issue:

• Funding the working capital requirements of the Company
• General corporate purposes.

Key Strengths:

• Largest Non-OEM Exporter with Recognized Export Status – JKIPL is the largest Non-OEM exporter of construction equipment from India, with a 9% market share. Its recognition as a Three-Star Export House reflects both scale and credibility. This leadership provides competitive advantages such as better sourcing capabilities, supplier trust, and strong brand recall in global markets. The company’s established market position acts as a significant entry barrier for new players.
• Diversified Product Portfolio with Multi-Sector Applications - JKIPL’s wide-ranging equipment portfolio caters to sectors including construction, mining, roads, and infrastructure. By dealing in excavators, cranes, compactors, graders, and mining trucks, the company ensures demand across varied end-markets. This diversification reduces business risk, allowing the company to balance cyclical downturns in specific segments.
• Global Presence Across 30+ Countries - JKIPL exports to diverse geographies spanning Asia, Africa, Europe, and North America, reducing reliance on any single market. Subsidiaries in the UAE and USA provide access to international customers and enable efficient inventory management and logistics. This global footprint enhances resilience against region-specific downturns and allows the company to capture growth opportunities in developing as well as developed economies.

Risks:

• Heavy Dependence on Exports- Approximately 99% of revenues come from exports, exposing the company to risks from global trade cycles, tariffs, currency fluctuations, and geopolitical tensions. Any unfavorable changes in trade policies, especially in its key markets, may severely impact sales volumes and profitability
• Working Capital Intensive Operations- The trading and refurbishment model requires significant investment in inventory and receivables, making the business highly working capital intensive. Net debt increased to ₹492 million in FY25 from ₹48 million in FY23. Prolonged receivable cycles or higher inventory could further strain liquidity and impact financial flexibility

Financial Snapshot:

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