S H Kelkar and Company Limited has informed the Exchange about Transcript of the Conference Call for Investors and Analysts for Q4 FY 26 results
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S H Kelkar reported Q4 FY26 adjusted EBITDA of 13.5% after excluding a one-off sale of Rs. 35 crore of low-margin products. Full year FY26 EBITDA margin was 10.2%. Management exited approximately Rs. 50 crore of annual low/negative margin business as part of portfolio optimization. The company faces raw material price inflation of 12-13%+ due to geopolitical developments, with 40% of raw materials directly linked to crude oil. The Almere factory in Netherlands is now fully operational, and Vanavate facility is expected in coming months. Management expects to reach low-teens EBITDA margins quickly in FY27 and targets Rs. 300 crore+ EBITDA for the year. FY27 capex guidance is Rs. 140 crore with debt reduction target of 10% annually from current gross debt of Rs. 851 crore.
The company is navigating a challenging raw material environment through portfolio pruning and pricing pass-throughs. Near-term margin pressure is expected but management remains confident on first-half FY27 performance, though declined to give full-year guidance due to market uncertainty.