S H Kelkar and Company Limited has informed the Exchange about Business Update for Q4 FY 2025-26
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S H Kelkar and Company Limited, India's largest fragrance and flavours company, reported consolidated revenues of Rs. 2,355 crore for FY2026, representing approximately 11.5% growth year-over-year. Gross margins remained stable on a sequential basis during Q4. Net debt stood at Rs. 789 crore as of March 31, 2026, reflecting ongoing investments in capacity expansion and capability building. The company noted a fluid operating environment with inflationary pressures linked to Middle East geopolitical developments and supply-side dynamics. Inventory levels were reduced during the quarter while maintaining adequate coverage for affected commodities. Results are provisional and subject to limited review.
The 11.5% revenue growth demonstrates solid business momentum, though the elevated net debt of Rs. 789 crore reflects significant ongoing capital expenditure. The stable gross margins and inventory management suggest operational resilience despite geopolitical headwinds.