S H Kelkar And Company Ltd · NSE:SHK
S H Kelkar And — Q3 FY2026 Earnings Presentation
18 slides from S H Kelkar And's earnings presentation, Feb 8, 2026
Slide 1: Cover letter to BSE and NSE
February 08, 2026 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: S H Kelkar announces Q3 & 9M FY2026 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 Q3 & 9M FY2026 results 9M FY2026 Revenue from operations stood at Rs. 1,718 crore EBITDA st
Slide 3: Management commentary on strategy, US business and finance
Commenting on the Company’s strategic direction, Mr. Kedar Vaze, Whole Time Director & CEO at SH Kelkar and Company Ltd. said: “Our current phase of investments reflects a clear strategic choice to build the Company for the next leg of growth. We are strengthening our global Creative Development Cen
Slide 4: 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
Slide 5: S H Kelkar and Company Limited Q3 & 9M FY26
S H KELKAR AND COMPANY LIMITED Q3 & 9M FY026 Earnings Presentation February 06, 2026
Slide 6: 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 7: Management Comment
Management Comment Commenting on the Company’s strategic direction, Mr. Kedar Vaze, Whole Time Director & CEO at SH Kelkar and Company Ltd. said: “Our current phase of investments reflects a clear strategic choice to build the Company for the next leg of growth. We are strengthening our global Creat
Slide 8: Management Comment
Management Comment Commenting on the performance and financial priorities, Mr. Jagdish Agarwal, Group Chief Financial Officer at SH Kelkar and Company Ltd. said: “I am excited to be part of SH Kelkar at a time when the Company is investing to build the next phase of growth. It is a leadership busine
Slide 9: 9M FY26 – Revenue from Operations Highlights
9M FY26 – Revenue from Operations Highlights Revenue From Operations Gross Profit EBITDA 724 253 1,718 683 240 1,556 224 182 9M FY26 9M FY25 9M FY26 9M FY25 9M FY26 9M FY25 Shift % (Y-o-Y) 10.4% Margins % 42.3% 44.1% Adj. EBITDA Margins % 14.0% 16.4% EBITDA margins % 10.6% 14.4% Revenues for 9M FY
Slide 10: Revenue Performance (excl Global Ingredients) – 9M FY26
9M FY26 9MFY25 Revenue Performance (excl Global Ingredients) – 9M FY26 Business Segment Market Segment 1,322 1,183 1,488 1,367 344 313 177 129 Fragrances Flavour Emerging Market Europe Shift % (Y-o-Y) 8.9% 37.9% Shift % (Y-o-Y) 11.7% 9.9% Geography Wise 948 876 361 348 356 272 India Europe ROW Shift
Slide 11: Segmental Performance (excl Global Ingredients) – 9M FY26
Segmental Performance (excl Global Ingredients) – 9M FY26 Fragrance Division - Revenue Fragrance Division – Adj EBITDA The Core Fragrance division delivered steady 216 revenue growth during the period 1,488 1,367 203 9M FY26 9M FY25 9M FY26 9M FY25 Shift % (Y-o-Y) 8.9% -6% 14% 16% Flavour Division -
Slide 12: Global Ingredients – 9M FY26
Global Ingredients – 9M FY26 Revenue EBITDA 6 46 53 -2 9M FY26 9M FY25 9M FY26 9M FY25 Shift % (Y-o-Y) -13% NA -4% 12% Global Ingredients segment recorded a softer performance, impacted by persistent geopolitical headwinds Over the medium to long term, growth prospects remain favourable, support
Slide 13: Segmental Performance Region-wise
Segmental Performance Region-wise Fragrance (excl Global Ingredients) Revenue Break-up – 9M FY26 Revenue 9M FY26 RoW, 19% Y-o-Y Growth (%) India 5.2% Europe 3.6% Europe, India, 57% 24% Rest of the World (RoW) 31.5% Total Growth 8.9% Flavours Revenue Break-up – 9M FY26 Revenue 9M FY26 Y-o-Y Growth (%
Slide 14: Balance Sheet Snapshot – As on December 31, 2025
Balance Sheet Snapshot – As on December 31, 2025 698 1,368 1,149 93 0.51x Networth Net Debt Fixed Assets Cash & Investments & Net Debt to Equity (x) Note: 1) Figures in Rs. crore unless specified otherwise 10
Slide 15: Annexure
Annexure 11
Slide 16: Consolidated Summarized P&L Statement
Consolidated Summarized P&L Statement Particulars (Rs. crore) Q3 FY26 Q2 FY26 Q3 FY25 YoYGr % 9M - FY26 9M -FY25 YoYShift Revenues from Operations Sales 564.4 531.6 521.4 8.2% 1,657.9 1,498.7 10.6% Sales - Contract Manufacturing 16.8 20.0 19.4 -13.6% 53.4 49.6 7.7% Other Operating Income 2.7 2.3 2.5
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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