S H Kelkar And Company Ltd · NSE:SHK
S H Kelkar And — Q2 & H1 FY24 Earnings Presentation
22 slides from S H Kelkar And's earnings presentation, Nov 3, 2023
Slide 1: Submission of Earnings Presentation and Press Release cover letter
November 03, 2023 To To The Manager The Manager The Department of Corporate Services The Listing Department BSE Limited National Stock Exchange of India Limited Floor 25, P. J. Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai – 400 001 Bandra (East), Mumbai – 400 051 Scrip Code: 53
Slide 2: Q2 & H1 FY24 Earnings Presentation
S H KELKAR AND COMPANY LIMITED Q2 & H1 FY24 Earnings Presentation November 03, 2023
Slide 3: Disclaimer
Disclaimer Certain statements and opinions with respect to the anticipated future performance of SH Kelkar (SHK) in the presentation (“forward-looking statements”), which reflect various assumptions concerning the strategies, objectives and anticipated results may or may not prove to be correct. Suc
Slide 4: Management Comment
Management Comment Commenting on the performance, Mr. Kedar Vaze, Whole Time Director & CEO at SH Kelkar and Company Ltd. said: “I am pleased to report that the positive momentum witnessed at the beginning of the year was sustained in the second quarter. Specifically, our core Fragrance division gre
Slide 5: Key Developments
Key Developments Successfully acquired the final tranche of Holland Aromatics ▪ Keva Europe BV, a wholly-owned subsidiary of the Company, has completed the acquisition of the remaining 19% equity stake in Holland Aromatics ▪ As a result of this strategic transaction, Holland Aromatics is now 100% ow
Slide 6: Q2 & H1 FY24 – Key Financial Highlights
Q2 & H1 FY24 – Key Financial Highlights Total Income Gross Profit EBITDA* Cash Profit 903 838 150 393 102 322 116 89 423 457 200 76 52 161 60 46 Q2 FY23 Q2 FY24 H1 FY23 H1 FY24 Q2 FY23 Q2 FY24 H1 FY23 H1 FY24 Q2 FY23 Q2 FY24 H1 FY23 H1 FY24 Q2 FY23 Q2 FY24 H1 FY23 H1 FY24 Shift % (Y-o-Y) 8.1% 7.8% 2
Slide 7: Revenue Performance (excl Global Ingredients) – Q2 & H1 FY24
Q2 FY24 Q2 FY24 H1 FY23 H1 FY24 Revenue Performance (excl Global Ingredients) – Q2 & H1 FY24 Business Segment Market Segment 774 691 617 674 349 394 314 343 174 194 81 96 47 45 100 94 Fragrances Flavour Emerging Market Europe Shift % (Y-o-Y) 13.0% 12.0% -3.9% -5.4% Shift % (Y-o-Y) 9.1% 9.3% 18.6% 11
Slide 8: Segmental Performance (excl Global Ingredients) – Q2 & H1 FY24
Segmental Performance (excl Global Ingredients) – Q2 & H1 FY24 Fragrance Division - Revenue Fragrance Division - EBIT ▪ Core Fragrance division delivered healthy performance during the period under 691 774 review 111 − In Q2FY24, India revenues grew by 349 394 75 58 a notable 15%, primarily driven b
Slide 9: Segmental Performance Region-wise
Segmental Performance Region-wise Fragrance (excl Global Ingredients) Revenue Break-up – Q2 FY24 Revenue Q2 FY24 H1 FY24 RoW, 16% Y-o-Y Growth (%) India 15.1% 10.2% Europe, Europe 9.7% 11.7% 27% India, 58% Rest of the World (RoW) 11.6% 21.0% Total Growth 13.0% 12.0% Flavours Revenue Break-up – Q2 FY
Slide 10: Europe Core Business Performance (Euro Mn)
Europe Core Business Performance (Euro Mn) Revenue Core Gross Margins (%) EBITDA (%) 17.6 53.9% 16.7 46.5% 21.1% 7.6% H1 FY23 H1 FY24 H1 FY23 H1 FY24 H1 FY23 H1 FY24 Shift % (Y-o-Y) 5.4% ▪ Core business has sustained stable performance in Europe amid a challenging environment ▪ The Company achieved
Slide 11: Global Ingredients – Q2 & H1 FY24
Global Ingredients – Q2 & H1 FY24 Revenue 32.6 28.3 16.9 14.6 Q2 FY23 Q2 FY24 H1 FY23 H1 FY24 Shift % (Y-o-Y) -13.3% -13.0% ▪ The Company has prioritized enhancing productivity and minimizing losses by controlling costs. Additionally, strategies for EBIT backward integration have been put in place,
Slide 12: Balance Sheet Snapshot – As on September 30, 2023
Balance Sheet Snapshot – As on September 30, 2023 451 1,141 913 158 0.40x Networth Net Debt Fixed Assets Cash & Investments & Net Debt to Equity (x) Note: 11 1) Figures in Rs. crore unless specified otherwise
Slide 13: Annexure
Annexure 12
Slide 14: Consolidated Summarized P&L Statement
Consolidated Summarized P&L Statement Particulars (Rs. crore) Q2 FY24 Q1 FY24 Q2 FY23 YoY Gr % H1 FY24 H1 FY24 YoY Gr % Revenues from Operations Sales 434.0 426.4 394.8 9.9% 860.4 785.5 9.5% Sales - Contract Manufacturing 19.8 17.0 17.6 12.3% 36.7 38.3 -4.1% Other Operating Income 1.7 2.2 1.8 -6.7%
Slide 15: Consolidated Balance Sheet
Consolidated Balance Sheet Consolidated Statement of Assets and Liabilities As at Sept 30, 2023 As at March 31, 2023 Consolidated Statement of Assets and Liabilities As at March 31, 2023 As at March 31, 2022 Particulars Audited Audited Particulars Audited Audited A ASSETS B EQUITY AND LIABILITIES 1
Slide 16: Conference Call Details
Conference Call Details S H Kelkar and Company – Q2 & H1 FY24 Earnings Conference Call Time • 12.00 noon IST on November 06, 2023 Primary dial-in number • +91 22 6280 1141 • +91 22 7115 8042 To enable participants to connect to the conference call without having to Pre-registration wait for an opera
Slide 17: About Us
About Us S H Kelkar and Company Limited (SHK) is the largest Indian-origin Fragrance & Flavour Company For further information please contact: in India. It has a long-standing reputation in the fragrance industry, developed over 100 years of experience. Its fragrance products and ingredients are use
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Slide 19: S H Kelkar announces Q2 & H1 FY2024 results
S H Kelkar and Company Limited Corporate Office: L.B.S Marg, Near Balrajeshwar Temple, Mulund (W), Mumbai – 400080 Registered Office: Devkaran Mansion, 36, Mangaldas Road, Mumbai 400 002. S H Kelkar announces Q2 & H1 FY2024 results H1 FY2024 Revenue from operations grew 9% to Rs. 900.9 cr EBITDA* st
Slide 20: Press release: management commentary
− Cash profit (excluding exceptional items) at Rs. 101.9 crore as against Rs. 88.7 crore, growing by 15% Note: • *EBITDA excluding tender fee amortization of Rs. 2.63 cr in Q1 FY24 and Rs. 5.26 cr in H1 FY24 • **Q1 FY 23 PAT includes exceptional gain of Rs 1.22 cr on account of reprocessing of Inven
Slide 21: Key Developments
Key Developments Successfully acquired the final tranche of Holland Aromatics • Keva Europe BV, a wholly-owned subsidiary of the Company, has completed the acquisition of the remaining 19% equity stake in Holland Aromatics • As a result of this strategic transaction, Holland Aromatics is now 100% ow
Slide 22: About S H Kelkar and Company Limited
About S H Kelkar and Company Limited: S H Kelkar and Company Limited (SHK) is the largest Indian-origin Fragrance & Flavour Company in India. It has a long-standing reputation in the fragrance industry, developed over 100 years of experience. Its fragrance products and ingredients are used as a raw
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