StockWatch
·
Filing
Q2

S H Kelkar and Company Ltd

SHKFY2607 Nov 2025
Revenue-4.6%
Net Profit-64.1%
OPM9.64%

P&L

Quarterly Consolidated

Revenue
-4.6%553.89
Expenditure
-0.8%542.51
Net Profit
-64.1%9.17
NPM 1.65%-62.4%EPS ₹0.66-64.3%

vs Q1 FY26

S H Kelkar and Company Announces Q2 & H1 FY2026 Results: Revenue at Rs. 1,135 Cr, Adjusted EBITDA at Rs. 164 Cr (Standalone & Consolidated)

10 Nov 2025 · 10 Nov 2025, 10:22 pm

Summary

S H Kelkar and Company, the largest Indian origin Fragrance and Flavour Company in India, has announced its financial results for the quarter and half year ended September 30, 2025. The company reported H1 FY2026 revenue from operations at Rs. 1,134.5 crore and adjusted EBITDA at Rs. 164 crore. The performance was driven by resilient demand across core categories and continued traction with both existing and new customers. The company is focusing on building a stronger foundation for sustainable growth over the long term.

Key Highlights

  1. 1

    H1 FY2026 Revenue from operations stood at Rs. 1,135 cr

  2. 2

    Adjusted EBITDA stood at Rs. 164 cr

  3. 3

    Investments in strategic initiatives across Germany, the UK, and the US, along with capacity expansion projects in the Netherlands are expected to strengthen execution and operating leverage

  4. 4

    The greenfield facility at Vanavate and the brownfield expansion at Holland Aromatics are progressing well and are expected to be commissioned by Q4 FY2026

Management Comments

M

Mr. Kedar Vaze

Whole Time Director and Group CEO at SH Kelkar and Company

We delivered a steady performance, with consolidated revenues for the half year growing by 12.2% YoY. This growth momentum was driven by resilient demand across our core categories and continued traction with both existing and new customers. Our domestic business maintained healthy momentum, supported by deeper engagement with small and mid-sized clients. The European operations remained broadly steady amid a subdued market environment. Investments in strategic initiatives across Germany, the UK, and the US, along with capacity expansion projects in the Netherlands are expected to strengthen execution and operating leverage. As these projects scale up over the next 15-18 months, margins and profitability are expected to improve. With capacity expansion advancing steadily and our global Creative Development Centres (CDCs) strengthening innovation capabilities, these collective initiatives are expected to enhance efficiency and performance. We remain focused on building a stronger foundation for sustainable growth over the long term.

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