S H Kelkar and Company Limited has informed the Exchange about Investor Presentation
SHK · price
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S H Kelkar (SHK), India's largest fragrance and flavour company, reported FY26 revenue of Rs 2,368 crore, up 11.5% YoY driven by strong demand in domestic and European markets. However, adjusted EBITDA declined to Rs 323 crore from Rs 335 crore, with margins contracting to 13.9% from 15.9% — a 200 basis points decline. Q4 FY26 showed similar trends: revenue up 14.6% to Rs 650 crore but EBITDA margin fell to 13.5% from 14.6%. The CFO flagged rising raw material costs due to Middle East geopolitical developments, warning that cost pressures may impact margins in coming quarters. The company is implementing pricing measures, cost optimisation, and business mix adjustments to protect margins. Net debt to EBITDA ratio worsened to 3.3x from 2.2x, reflecting increased leverage.
The stock faces pressure as revenue growth failed to translate to bottom-line improvement — margin contraction and rising leverage are red flags for investors focused on profitability. Near-term earnings may remain under strain from raw material cost pressures.