S H Kelkar and Company Limited has informed the Exchange regarding Change in Auditors of the company.
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On the reaction day the stock moved 12.3 pts more than Nifty Microcap 250 and 12.4 pts more than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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S H Kelkar's board, at its May 16, 2025 meeting, approved audited Q4 and FY25 results with Deloitte issuing an unmodified opinion. Consolidated total income for FY25 rose to Rs. 2,147.25 crores (from Rs. 1,846.69 crores), but profit for the year fell sharply to Rs. 73.01 crores (from Rs. 123.55 crores), dragged by a Rs. 160.18 crore loss from the April 2024 Vashivali plant fire (partly offset by Rs. 95 crore insurance relief). The board recommended a final dividend of Re. 1 per share (10%) with the AGM set for August 12, 2025 (record date August 1, 2025). Mr. Kedar Vaze was re-appointed as Whole-time Director & Group CEO for 3 years, Ms. Pallavi Gokhale joins as an Additional Director from July 1, 2025, and new Secretarial, Internal and Cost Auditors were appointed for FY26. The company also approved incorporating a wholly owned subsidiary, Keva Middle East FZE, in the UAE to strengthen its fragrances and flavours presence.
Despite revenue growth, the sharp drop in FY25 net profit (down ~41% YoY) due to the fire-related exceptional loss is a negative for shareholders, though insurance recovery and a resumed dividend signal some stability. The CEO continuity, new director addition and overseas expansion plans are mildly positive for long-term growth, but near-term sentiment may remain cautious given the profit decline.