StockWatch
·

Jinkushal Industries Ltd

BSE: 544547

P/L Snapshot

Q1 FY27 · standalone

vs Q3 FY26·vs Q1 FY26
Revenue
56.64
-38.3%+39.8%
Expenditure
52.49
-39.0%+45.9%
Net Profit
3.31
-20.6%-12.1%
OPM %
0.94%
-5.36pp-6.55pp

Shareholding

Pattern breakdown

P/L Trends

(in crores)

RevenueExpenditureNet Profit
0.0025.7051.4077.11102.81Q2 FY26Q1 FY26Q3 FY26Q1 FY27
Price Chart
Reports

Africa Growth Can't Mask the Profit Collapse

profit collapse · freight costs · Africa expansion

Result verdictFollow-upQ1 FY2721 Aug 20266 minAutomobile

Revenue growth masks 66% profit collapse; freight costs bite hard

Africa expansion · margin compression · inventory leverage

TranscriptDeep diveQ1 FY2721 Aug 20266 minAutomobile

Jinkushal Q1 FY27: consolidated PAT falls 66% YoY to ₹2.2 Cr despite 16% revenue growth

machinery trading · margin compression · overseas subsidiary

ResultsQ1 FY2714 Aug 20263 minAutomobile
Latest
Board Meeting14 Aug, 10:50 pm

Jinkushal Q1 FY27: consolidated PAT falls 66% YoY to ₹2.2 Cr despite 16% revenue growth

Jinkushal Industries' consolidated Q1 FY27 (quarter ended 30 June 2026) revenue from operations rose 15.9% YoY to ₹56.57 Cr (₹48.82 Cr in Q1 FY26), but consolidated PAT fell 66.2% YoY to ₹2.20 Cr (₹6.51 Cr a year ago) as net profit margin compressed to 3.89% from 13.32% and operating margin to 14.12% from 17.92%. Basic EPS was ₹0.63 versus ₹2.01 a year ago (not annualised). Sequentially, revenue and PAT fell 70.5% and 81.2% respectively from the March-26 quarter's ₹192.00 Cr/₹11.67 Cr — but that comparison is a poor read given the company's lumpy, deal-based machinery-trading revenue recognition (large deliveries typically close in Q4), not a genuine sequential slowdown. Standalone PAT, by contrast, fell a much milder 12.1% YoY to ₹3.31 Cr on 37.4% YoY revenue growth to ₹51.29 Cr — the wide gap between standalone and consolidated PAT trajectories reflects a drag from the overseas subsidiaries, and readers comparing the two bases should note this >50-point divergence in growth. The margin compression sits on the expense side rather than pricing: consolidated employee benefit expense rose 73.5% YoY to ₹3.83 Cr and direct expenses rose 79.3% YoY to ₹3.79 Cr, consistent with management's stated post-IPO strategy of investing heavily in marketing, senior talent and the HexL brand. Finance costs also rose to ₹1.46 Cr from ₹1.28 Cr on a larger working-capital base. There were no exceptional items in either period, so the YoY profit decline is entirely operating in nature. Management's February 2026 concall guidance flagged both this margin-investment phase and a plan to monetise a then-"record ₹70 Cr" of overseas inventory into revenue "in the coming quarters" — the investment phase is visible in this print, but the inventory monetisation is not: change in inventories was a negative ₹43.68 Cr this quarter (versus -₹1.05 Cr YoY), meaning stock-in-trade built up further rather than converting to sales, and the auditor's review note shows the two overseas subsidiaries (Hexco Global FZCO, Dubai and Hexco Global USA LLC) now carry total assets of ₹281.89 Cr against just ₹0.64 Cr of comprehensive income for the quarter. No formal analyst/street estimates specific to this quarter were found — the company is a recently listed, thinly covered small-cap — so vs-street is unknown. The quarter's other corporate action, incorporation of a new Abu Dhabi step-down subsidiary (Hexco Global Machines LLC-SPC) on 3 August 2026, is a non-adjusting event with no impact on these financials and has yet to commence commercial operations.

14 Aug 2026, 10:50 pm

Corporate Events

Board MeetingJKIPL
2026
14Aug

Board Meeting

The Board of Directors considered and approved the Un-Audite…

BSE Filing
Board MeetingJKIPL
2026
12Aug

Board Meeting

The 19th Annual General Meeting (AGM) will be held to transa…

BSE Filing