Raipur-based exporter says new mandate expands North America footprint; order equals about 11% of FY25 revenue
Jinkushal Industries has secured a purchase order worth INR 42 crore from a US-based company, the company reported in an exchange filing on Tuesday, 11 November 2025. Jinkushal Industries order covers the supply of 100 Units of HexL 420X Backhoe Loaders under the company’s export portfolio and will be executed over three years, the filing added.
Jinkushal Industries’ latest order underpins its push into North America and, by value, is roughly 11.0% of its FY25 consolidated revenue of INR 380.56 crore. The Raipur-headquartered firm, which listed on 3 October 2025, derives over 99% of its sales from overseas markets and has been scaling its own HexL-branded machines alongside refurbished equipment, according to prior disclosures and IPO documents.
Jinkushal said the INR 42-crore order will be fulfilled in three years, with quarterly price alignments based on prevailing market conditions. Management added that the order “strengthens visibility for H2 FY26 and supports utilisation across refurbishment and export supply chains.”
“This is a useful geographic diversification and adds near-term revenue visibility; execution discipline and working capital turns will be key given merchanting/trade cycles,” said a Mumbai-based research analyst. He also cautioned that currency swings and freight costs remain watch items for export-led machinery suppliers.
Jinkushal, promoted by Anil Kumar Jain, positions itself as the largest non-OEM exporter of construction machines from India, with operations spanning the trading of new/customised, used/refurbished equipment and its HexL backhoe loaders. The company raised about INR 116 crore via IPO and debuted at a 3% premium. Post-IPO, Jinkushal Industries shares are trading at INR 118, slightly below their IPO allotment price of INR 121.
In recent updates, the company told exchanges it executed a distributor agreement to launch the HexL brand in Africa and flagged the RBI’s extension of the merchanting trade transaction cycle to six months as a positive for export operations.
Jinkushal Industries US Export Order At a Glance
- Order size: INR 42 crore from a US-based company; execution over 3 years
- FY25 revenue: INR 380.56 crore (up 59.5% YoY from INR 238.6 crore)
- FY25 PAT: INR 19.14 crore (up 2.65% YoY from INR 18.6 crore)
- FY25 EBITDA margin: 6.1% (vs 9.79% in FY24)
- Strategy: Focus on export markets; HexL-branded machines; refurbishment-led offerings
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