Dealers-Commercial Vehicles, Tractors, Construction Vehicles industry

3 companies · ₹445 cr · 1 with AI deep dives · Q1FY27 report

Exhibit 3Structure

₹445 cr

Jinkushal Industries Ltd is 88.8% of this industry by market cap. The top 5 are 100% and the top 10 are 100%.

micro 30 above ₹500 cr

Exhibit 5Coverage (2 of 2)

Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.

Company	Mcap	P/E	EV/EBITDA	ROCE	Margin	Rev YoY	Read
Jinkushal Industries Ltd	₹433 cr	51.1x	23.4x	7.3%	5.8%	+15.9%	Unlock
Seemax Resources Ltd	₹39 cr	14.4x	10.7x	20.7%	25.6%	-

Jinkushal Industries Ltd

Mcap: ₹433 cr
P/E: 51.1x
EV/EBITDA: 23.4x
ROCE: 7.3%
Margin: 5.8%
Rev YoY: +15.9%

Unlock

Seemax Resources Ltd

Mcap: ₹39 cr
P/E: 14.4x
EV/EBITDA: 10.7x
ROCE: 20.7%

Exhibit 6What managements said

from Agricultural, Commercial & Construction Vehicles earnings calls · as of 2026-06-30

headwindCommodity inflation compressing margins across the bucket despite record volumes7 managements

Steel, aluminium, copper, natural rubber, and polymers moved higher simultaneously. TMCV quantified a 340 bps variable cost headwind of ₹649 crore; Ashok Leyland saw material cost…

TMCV (Q1FY27): “EBITDA was ₹2,300 crore at a margin of 11.7%, down 60 basis points YoY. Variable costs…”

mixed5 managements tailwind5 managements

Exhibit 7Outlook

The outlook and what resolves next quarter

Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.

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AppendixThe other 0 companies

1-0

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