JKIPL
New to Zerodha? Sign-up for free.
New to Zerodha? Sign-up for free.
Get instant stock alerts
-
Share Price
-
Financials
-
Revenue mix
-
Shareholdings
-
Peers
-
Forensics
Coming soon
- 5D
- 1M
- 6M
- YTD
- 1Y
- 5Y
- MAX
-
Summary
-
Profit & Loss
-
Balance sheet
-
Cashflow
| (In Cr.) |
|---|
| (In Cr.) | ||||
|---|---|---|---|---|
|
This data is currently unavailable for this company. |
| (In %) |
|---|
| (In Cr.) |
|---|
| Financial Year (In Cr.) |
|---|
-
Product wise
-
Location wise
Revenue Mix
This data is currently unavailable for this company.
Revenue Mix
This data is currently unavailable for this company.
Recent events
-
News
-
Corporate Actions
EXCLUSIVE-Safety lapses, weak oversight: How children die from Indian cough syrup
Repeats story from Friday morning in Asia
Regulators probing possible safety lapses during transfer of propylene glycol to cough syrup maker
Supplier told Reuters it had delivered the chemical to drugmaker Sresan in unsealed containers
Sresan's factory not inspected since 2023 despite past violations - sources
By Krishna N. Das, Rishika Sadam and Praveen Paramasivam
CHENNAI, Nov 21 (Reuters) - Indian officials are investigating whether safety lapses in the supply of a pharmaceutical ingredient were responsible for contaminating cough syrup that has killed at least 24 children in recent months, according to three people familiar with the matter.
The three health and drug safety officials from Tamil Nadu state told Reuters they believe the solvent used to make a batch of Coldrif cough syrup could have been contaminated with a toxic chemical around the time it was supplied to the drugmaker, Sresan Pharmaceutical Manufacturer.
Sresan acquired 50 kg of the propylene glycol (PG) solvent from local chemicals distributor Sunrise Biotech on March 25, which had purchased it the same day from Jinkushal Aroma, a small company that makes fragrance blends for liquid detergents and other chemicals, according to interviews with the suppliers and an October 3 investigation report by the Tamil Nadu pharmaceutical regulator, exclusively seen by Reuters.
The Tamil Nadu Drugs Control Department didn't respond to repeated requests for comment about its investigation.
Authorities have said the Coldrif syrup was heavily contaminated with a known industrial toxin, diethylene glycol (DEG). They are investigating how the chemical was added to the solvent, which is used in cough syrup as a base for dissolving its active ingredients.
The fatalities, which began in September, have revived concerns about safety standards in India's $50 billion pharmaceutical sector, which was tarnished by the deaths of more than 140 children in Africa and Central Asia in 2022 and 2023 from Indian-made cough syrups made with contaminated solvents.
In the wake of those deaths, New Delhi had pledged to improve quality controls.
Indian health officials say DEG is sometimes fraudulently or unintentionally used in medicines in place of pricier PG. Ingesting high levels of it has been linked to acute kidney damage and death in children.
Reuters is reporting details for the first time about the focus of the Indian investigation, as well as breaches in global pharmaceutical safety practices in the delivery of the chemicals to Sresan.
Sresan's manufacturing licence has been revoked and its founder G. Ranganathan is in custody. Efforts to contact representatives at Sresan's corporate office and Ranganathan's home were unsuccessful. Reuters was unable to identify a legal representative for Ranganathan.
The Central Drugs Standard Control Organisation, which oversees pharmaceuticals federally, directed questions to India's health ministry, which in turn referred Reuters to a government statement saying it was conducting more inspections of drug facilities and reviewing paediatric use of cough syrups.
Chemical makers typically deliver PG solvents to clients in sealed containers to avoid contamination, but Sunrise confirmed to Reuters that it had repackaged the solvent without a seal before delivering it.
India's Drugs and Cosmetics Act prohibits the sale and handling of pharmaceutical-grade ingredients like medicinal PG by entities that do not have drug licences.
Neither Jinkushal nor Sunrise have licences for handling pharmaceutical-grade ingredients, the two wholesale distributors confirmed to Reuters. Their owners said they weren’t aware the PG they had sold would be used to make medication.
Both Sunrise operator Vipul Jain and Jinkushal owner Jitender Vishwakarma said they did not handle highly toxic DEG and had no knowledge about how the solvent might have been contaminated.
Reuters was unable to establish how the contamination occurred or who was responsible.
Inspections conducted by the state regulator after the deaths found hundreds of "critical" and "major" violations at Sresan's factory outside the southern city of Chennai, including storing products in "unhygienic conditions" and "falsification of data,” according to the Oct. 3 report. The regulator did not, however, link those breaches directly to the deaths.
REPACKAGED CHEMICALS
The PG that Sresan told inspectors it used was produced by South Korean manufacturer SK picglobal, according to a certificate of analysis shared by Jinkushal and Sunrise with investigators, reviewed by Reuters.
The certificate included the manufacturing date of the PG, as well as specifics about its chemical contents. Reuters couldn’t independently verify the accuracy of the contents though an SK picglobal spokesperson said the copy seen by the news agency appeared to be authentic.
SK picglobal exported the solvent in a sealed 215 kg barrel to an Indian distributor, who sold it to Jinkushal.
Jinkushal's Vishwakarma said he broke the seals and repackaged the solvent in his store before selling some of it to chemicals distributor Sunrise.
Sunrise's Jain said he then transported the chemical to Sresan in two containers without tamper-proof seals because the drugmaker had not wanted the entire original 215 kg of supply.
The SK picglobal spokesperson said the company strictly prohibits repacking or redistribution of its products
Asked if such restrictions were included in its contracts of sale, the company said it has told customers in meetings that it doesn't "guarantee the quality of products that have been re-packed or arbitrarily subdivided for sale." It did not provide further details.
HISTORY OF VIOLATIONS
Sresan had been previously penalised by authorities, with its founder imprisoned for a day in 2020 and 2022 due to concerns about his products, before being issued a fine, according to four officials familiar with the matter. They did not provide documentary evidence for the penalties.
Tamil Nadu's health minister told lawmakers last month that Sresan had been penalised in 2021 and 2023 for "minor violations," without providing specifics.
Despite Sresan’s track record and regulations that require annual checks, the drugmaker's factory had not been inspected since 2023, said two state health officials.
Reuters could not independently confirm when Sresan had been last inspected before the deaths.
(Reporting by Krishna N. Das, Rishika Sadam and Praveen Paramasivam in Chennai; Additional reporting by Jennifer Rigby in London, Joyce Lee in Seoul and Aditya Kalra and Arpan Chaturvedi in New Delhi; Editing by Katerina Ang)
Repeats story from Friday morning in Asia
Regulators probing possible safety lapses during transfer of propylene glycol to cough syrup maker
Supplier told Reuters it had delivered the chemical to drugmaker Sresan in unsealed containers
Sresan's factory not inspected since 2023 despite past violations - sources
By Krishna N. Das, Rishika Sadam and Praveen Paramasivam
CHENNAI, Nov 21 (Reuters) - Indian officials are investigating whether safety lapses in the supply of a pharmaceutical ingredient were responsible for contaminating cough syrup that has killed at least 24 children in recent months, according to three people familiar with the matter.
The three health and drug safety officials from Tamil Nadu state told Reuters they believe the solvent used to make a batch of Coldrif cough syrup could have been contaminated with a toxic chemical around the time it was supplied to the drugmaker, Sresan Pharmaceutical Manufacturer.
Sresan acquired 50 kg of the propylene glycol (PG) solvent from local chemicals distributor Sunrise Biotech on March 25, which had purchased it the same day from Jinkushal Aroma, a small company that makes fragrance blends for liquid detergents and other chemicals, according to interviews with the suppliers and an October 3 investigation report by the Tamil Nadu pharmaceutical regulator, exclusively seen by Reuters.
The Tamil Nadu Drugs Control Department didn't respond to repeated requests for comment about its investigation.
Authorities have said the Coldrif syrup was heavily contaminated with a known industrial toxin, diethylene glycol (DEG). They are investigating how the chemical was added to the solvent, which is used in cough syrup as a base for dissolving its active ingredients.
The fatalities, which began in September, have revived concerns about safety standards in India's $50 billion pharmaceutical sector, which was tarnished by the deaths of more than 140 children in Africa and Central Asia in 2022 and 2023 from Indian-made cough syrups made with contaminated solvents.
In the wake of those deaths, New Delhi had pledged to improve quality controls.
Indian health officials say DEG is sometimes fraudulently or unintentionally used in medicines in place of pricier PG. Ingesting high levels of it has been linked to acute kidney damage and death in children.
Reuters is reporting details for the first time about the focus of the Indian investigation, as well as breaches in global pharmaceutical safety practices in the delivery of the chemicals to Sresan.
Sresan's manufacturing licence has been revoked and its founder G. Ranganathan is in custody. Efforts to contact representatives at Sresan's corporate office and Ranganathan's home were unsuccessful. Reuters was unable to identify a legal representative for Ranganathan.
The Central Drugs Standard Control Organisation, which oversees pharmaceuticals federally, directed questions to India's health ministry, which in turn referred Reuters to a government statement saying it was conducting more inspections of drug facilities and reviewing paediatric use of cough syrups.
Chemical makers typically deliver PG solvents to clients in sealed containers to avoid contamination, but Sunrise confirmed to Reuters that it had repackaged the solvent without a seal before delivering it.
India's Drugs and Cosmetics Act prohibits the sale and handling of pharmaceutical-grade ingredients like medicinal PG by entities that do not have drug licences.
Neither Jinkushal nor Sunrise have licences for handling pharmaceutical-grade ingredients, the two wholesale distributors confirmed to Reuters. Their owners said they weren’t aware the PG they had sold would be used to make medication.
Both Sunrise operator Vipul Jain and Jinkushal owner Jitender Vishwakarma said they did not handle highly toxic DEG and had no knowledge about how the solvent might have been contaminated.
Reuters was unable to establish how the contamination occurred or who was responsible.
Inspections conducted by the state regulator after the deaths found hundreds of "critical" and "major" violations at Sresan's factory outside the southern city of Chennai, including storing products in "unhygienic conditions" and "falsification of data,” according to the Oct. 3 report. The regulator did not, however, link those breaches directly to the deaths.
REPACKAGED CHEMICALS
The PG that Sresan told inspectors it used was produced by South Korean manufacturer SK picglobal, according to a certificate of analysis shared by Jinkushal and Sunrise with investigators, reviewed by Reuters.
The certificate included the manufacturing date of the PG, as well as specifics about its chemical contents. Reuters couldn’t independently verify the accuracy of the contents though an SK picglobal spokesperson said the copy seen by the news agency appeared to be authentic.
SK picglobal exported the solvent in a sealed 215 kg barrel to an Indian distributor, who sold it to Jinkushal.
Jinkushal's Vishwakarma said he broke the seals and repackaged the solvent in his store before selling some of it to chemicals distributor Sunrise.
Sunrise's Jain said he then transported the chemical to Sresan in two containers without tamper-proof seals because the drugmaker had not wanted the entire original 215 kg of supply.
The SK picglobal spokesperson said the company strictly prohibits repacking or redistribution of its products
Asked if such restrictions were included in its contracts of sale, the company said it has told customers in meetings that it doesn't "guarantee the quality of products that have been re-packed or arbitrarily subdivided for sale." It did not provide further details.
HISTORY OF VIOLATIONS
Sresan had been previously penalised by authorities, with its founder imprisoned for a day in 2020 and 2022 due to concerns about his products, before being issued a fine, according to four officials familiar with the matter. They did not provide documentary evidence for the penalties.
Tamil Nadu's health minister told lawmakers last month that Sresan had been penalised in 2021 and 2023 for "minor violations," without providing specifics.
Despite Sresan’s track record and regulations that require annual checks, the drugmaker's factory had not been inspected since 2023, said two state health officials.
Reuters could not independently confirm when Sresan had been last inspected before the deaths.
(Reporting by Krishna N. Das, Rishika Sadam and Praveen Paramasivam in Chennai; Additional reporting by Jennifer Rigby in London, Joyce Lee in Seoul and Aditya Kalra and Arpan Chaturvedi in New Delhi; Editing by Katerina Ang)
India's Jinkushal Industries drops to exchange-allowed maximum in trading debut
** Shares of Jinkushal Industries JINK.NS drop to exchange-allowed maximum of 118.75 rupees in trading debut
** Stock down 1.9% from IPO price of 121 rupees; it had opened at 125 rupees
** Co's 1.16-bln-rupee IPO, which comprised issue of fresh shares and sale of shares by existing shareholders, was subscribed 65.1x
** Trading vols at 2.9 mln shares so far
** Proceeds from IPO to be used to fund long-term incremental working capital requirement and general corporate purposes
(Reporting by Vijay Malkar)
(([email protected];))
** Shares of Jinkushal Industries JINK.NS drop to exchange-allowed maximum of 118.75 rupees in trading debut
** Stock down 1.9% from IPO price of 121 rupees; it had opened at 125 rupees
** Co's 1.16-bln-rupee IPO, which comprised issue of fresh shares and sale of shares by existing shareholders, was subscribed 65.1x
** Trading vols at 2.9 mln shares so far
** Proceeds from IPO to be used to fund long-term incremental working capital requirement and general corporate purposes
(Reporting by Vijay Malkar)
(([email protected];))
Events:
Lockin Period Expiry (Anchor)
Lockin Period Expiry (Anchor)
More Nano Cap Ideas
See similar 'Nano' cap companies with recent activity
Promoter Buying
Companies where the promoters are bullish
Capex
Companies investing on expansion
Superstar Investor
Companies where well known investors have invested
Popular questions
-
Business
-
Financials
-
Share Price
-
Shareholdings
What does Jinkushal Industries do?
Jinkushal Industries is primarily engaged in business of selling heavy construction machines (including refurbished machines), machine hiring services, warehousing and business auxiliary services. Further, it specializes in export trading of construction machines such as hydraulic excavators, motor graders, backhoe loaders, soil compactors, wheel loaders, bulldozers, cranes, and asphalt pavers.
Who are the competitors of Jinkushal Industries?
Jinkushal Industries major competitors are Action Const. Equip, Vision Infra Equip.. Market Cap of Jinkushal Industries is ₹268 Crs. While the median market cap of its peers are ₹5,717 Crs.
Is Jinkushal Industries financially stable compared to its competitors?
Jinkushal Industries seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does Jinkushal Industries pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Jinkushal Industries latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%
How has Jinkushal Industries allocated its funds?
Companies resources are allocated to majorly unproductive assets like Accounts Receivable
How strong is Jinkushal Industries balance sheet?
Balance sheet of Jinkushal Industries is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of Jinkushal Industries improving?
No, profit is decreasing. The profit of Jinkushal Industries is ₹13.42 Crs for TTM, ₹18.29 Crs for Mar 2025 and ₹18.64 Crs for Mar 2024.
Is the debt of Jinkushal Industries increasing or decreasing?
The net debt of Jinkushal Industries is decreasing. Latest net debt of Jinkushal Industries is -₹56.58 Crs as of Sep-25. This is less than Mar-25 when it was ₹45.51 Crs.
Is Jinkushal Industries stock expensive?
Jinkushal Industries is not expensive. Latest PE of Jinkushal Industries is 14.65, while 3 year average PE is 20.88. Also latest EV/EBITDA of Jinkushal Industries is 12.65 while 3yr average is 20.04.
Has the share price of Jinkushal Industries grown faster than its competition?
There is not enough historical data for the companies share price.
Is the promoter bullish about Jinkushal Industries?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Jinkushal Industries is 74.99% and last quarter promoter holding is 74.99%.
Are mutual funds buying/selling Jinkushal Industries?
There is Insufficient data to gauge this.
