S H Kelkar and Company Limited has informed the Exchange about approval of Incorporation of Keva Middle East FZE in the United Arab Emirates (UAE) by the Board of Directors of the Company
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S H Kelkar's board approved the incorporation of a wholly owned subsidiary, Keva Middle East FZE, in the UAE to strengthen its presence in fragrances and flavours in the Middle East market, with incorporation expected by December 31, 2025. The board also approved audited Q4 and FY25 results, showing consolidated revenue from operations of Rs 2,123.40 crores (up ~15% from Rs 1,840.83 crores) but profit after tax falling sharply to Rs 73.01 crores from Rs 123.55 crores. A final dividend of Re. 1 per share (10%) was recommended for FY25, subject to shareholder approval at the August 12, 2025 AGM. The results were impacted by an exceptional item of Rs 160.18 crores related to a major fire at the Vashivali plant in April 2024, partly offset by an insurance relief of Rs 95 crores. Director and auditor appointments were also approved, including re-appointment of Kedar Vaze as Whole-time Director & Group CEO for three years.
The UAE subsidiary signals continued international expansion, but the sharp drop in FY25 profitability driven by the fire-related exceptional loss may weigh on near-term sentiment, though the dividend declaration and insurance recovery provide some comfort to shareholders.