Summary

SH Kelkar and Company Ltd reported a strong 15% revenue growth in FY25, driven by sustained demand across segments and solid traction in the domestic market across both Fragrance and Flavour divisions. The company expects gradual margin recovery due to improving raw material availability and calibrated price hikes. Incremental costs have stabilized, positioning the company to benefit from operating leverage. The company received an interim payment of Rs. 95 crore from their insurer for a fire-related claim, which will support working capital requirements and strengthen the balance sheet.

Key Highlights

1. 1

   SH Kelkar reported strong revenue growth for the year, driven by sustained demand across segments and solid traction in the domestic market across both Fragrance and Flavour divisions

2. 2

   Increased wallet share from small and mid-sized customers reflects improved account penetration and stronger customer relationships

3. 3

   Improving raw material availability, together with calibrated price hikes, is expected to enable gradual margin recovery

4. 4

   On April 2, 2025, the company received an interim payment of Rs. 95 crore from their insurer as an on-account interim relief for the fire-related claim