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NSE:SHK

S H KELKAR AND CO. LTD.

Chemicals › Chemicals & Petrochemicals
₹130.05
at close · 28 Oct 2026
▲ 0.06 (+0.05%)

Latest filings

Next results: Mon, 2 Nov · Financial Results
  1. BSE and NSE issue cautionary letters over delayed meeting disclosure · Compliance
  2. Pledge on promoter group shares fully released - no shares left encumbered · Ownership Changes
  3. Pledge released on 47 lakh SHK shares by Keva Constructions · Ownership Changes
All filings ↓
Ask Nexa about S H KELKAR AND CO. LTD.

Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Develops, manufactures and sells fragrance and flavour compounds for personal care, home care, food and pharmaceutical customers. The Fragrance segment accounted for ₹2,126.87 crore, or 89.8% of FY26 segment revenue, with Flavours contributing ₹241.39 crore or 10.2%. Operations are split between India and Europe, with a greenfield factory in Almere (Netherlands) fully operational and Indian facilities at Vashivali (rebuilding after an April 2024 fire), Vanavate and a new Pune plant targeted to come on stream in Q3 FY27. Raw materials represent 56.9% of FY26 revenue, and management states that around 70% of total costs are directly or indirectly linked to crude oil and citrus terpenes, exposing margins to global petrochemical and citrus pricing. Q1 FY27 consolidated revenue was ₹662 crore, with Flavours up 63% year-on-year against a 9% rise in Fragrance. FY27 capex is guided at ₹140 crore, and net debt stood at ₹707 crore as of June 2026, with management targeting roughly ₹25 crore of quarterly deleveraging from Q3 FY27 onwards.

Revenue mix · reported segments
Fragrance89.8%
Flavours10.2%
Operating scale
Heritage in fragrances & flavours
100+ yearsFY26
Almere (Netherlands) greenfield factory
Fully operationalFY27
Pune plant operationalisation
Targeted Q3 FY27FY27
Vashivali plant status
Rebuilding after April 2024 fire; insurance claim ongoingFY27
Raw material cost linkage
~70% of total costs directly or indirectly crude-linkedFY26
Permanent workforce (India)
484 permanent staff + 166 workersFY26
Who pays it
Personal care, home care, food and pharmaceutical FMCG companies globally, including India, Europe, the UK and the US
Biggest cost
Raw materials (56.9% of FY26 revenue), with around 70% of total costs directly or indirectly linked to crude oil and citrus terpenes
Kind of business
Specialty chemicals manufacturer of fragrance and flavour compounds; asset-heavy with manufacturing footprint in India and the Netherlands and ongoing capacity expansion
Where it sits
Described in the company's investor communications as India's largest Indian-origin fragrance and flavour company, with European expansion underway and a USA development centre being built
Market Cap
₹1,800 Cr
P / E (TTM)
20.2×
EV / EBITDA
7.8×
Div Yield
1.54%
Growth
12.4%▲
Revenue 5y CAGR
PAT -13.6% · EBITDA +1.1%
Quality
9.6%·
ROCE (5y median)
ROE 5.7% (5y median) · margin 12.1%
Leverage
0.62·
Debt / Equity · moderate
Net debt ₹787 Cr
Revenue FY21→FY26
1.8×▲
Margin −8.0 pts
₹1,322 Cr → ₹2,368 Cr
Cash conversion
1.31×▲
Operating cash ÷ profit · 5 yrs
₹626 Cr on ₹478 Cr
Moves on a normal day
1.52%·
Median daily move
Last 267 sessions · the yardstick for filing-day moves
Where it sits among 107 Specialty Chemicals peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#40/99
P/B#20/99
ROCE#70/106
ROE#68/99
Debt / Equity#83/99
EBITDA margin#43/99
Revenue growth#69/94
Profit growth#35/92

Scorecard

Measured from the filed financials, judged against its Specialty Chemicals peers · as of FY26 — not investment advice

Strengths
Revenue compounding 12% a year over 5 years
Over 5 years it reported ₹478 Cr of profit and ₹626 Cr of operating cash — 1.31×
Profit is converting into cash
Pays out 40% of profit as dividend
Concerns
Profit shrinking over 5 years (−14% a year)
Erratic profits — up in only 2 of the last 5 years
Carries more debt than its peers — 0.62× equity
higher than 84% of its 99 Specialty Chemicals peers
Heavy working capital — 149 days of cash tied up

Charts

How has the market priced it — with filings on the timeline?

SHK · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from S H KELKAR AND CO. LTD.'s filed financials and exchange disclosures

What does S H KELKAR AND CO. LTD. do?

S H KELKAR AND CO. LTD. is a Chemicals & Petrochemicals company listed on NSE and BSE, trading under the symbol SHK.

Is S H KELKAR AND CO. LTD. profitable?

Yes. Over the trailing twelve months S H KELKAR AND CO. LTD. reported a net profit of ₹89 Cr on revenue of ₹2,450 Cr.

Does S H KELKAR AND CO. LTD. pay a dividend?

Yes. The dividend yield is 1.54% at the current price. It paid out 40% of its profit as dividend in FY26.

Is S H KELKAR AND CO. LTD. debt-free?

No. It reported borrowings of ₹851 Cr on its 31 Mar 2026 balance sheet, or net debt of ₹787 Cr after cash. Debt stands at 0.62× equity. That is higher than 84% of its 99 Specialty Chemicals peers.

Is S H KELKAR AND CO. LTD. expensive compared with its peers?

On trailing P/E, S H KELKAR AND CO. LTD. ranks 40 of 99 in Specialty Chemicals — cheaper than 60% of them, against an industry median of 23.1×. This is a position, not a valuation judgement.

How much does the S H KELKAR AND CO. LTD. share price move in a day?

On a typical session S H KELKAR AND CO. LTD. moves 1.52% — that is the median absolute close-to-close move across its last 267 trading days. MarketPing measures each filing's price reaction against it.

When are S H KELKAR AND CO. LTD.'s next results?

Financial Results on Mon, 2 Nov. MarketPing alerts you on WhatsApp the moment the filing lands.

Where can I track S H KELKAR AND CO. LTD.'s announcements?

Every NSE and BSE filing by S H KELKAR AND CO. LTD. appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.