S H Kelkar And Company Ltd · NSE:SHK
S H Kelkar And — Q4 FY2026 Earnings Presentation
20 slides from S H Kelkar And's earnings presentation, May 15, 2026
Slide 1: Covering letter to BSE and NSE
May 15, 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: 539450
Slide 2: S H Kelkar announces Q4 & FY2026 results
sssss 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 Q4 & FY2026 results FY2026 *Revenue from operations stood at Rs. 2,368 cr, higher by
Slide 3: Management commentary from CEO and CFO
Commenting on the Company’s strategic direction, Mr. Kedar Vaze, Whole Time Director & CEO at SH Kelkar and Company Ltd. said: “We delivered healthy revenue growth during FY2026 despite a dynamic operating environment. The performance was supported by sustained demand across key customer segments, c
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 Q4 & FY26
S H KELKAR AND COMPANY LIMITED Q4 & FY026 Earnings Presentation May 15, 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: “We delivered steady revenue growth during FY2026 despite a dynamic operating environment. The performance was supported by sustained demand across key cu
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: “During Q4 FY2026, the Company delivered encouraging revenue growth, supported by steady performance across both the Fragrance and Flavour
Slide 9: Q4 & FY26 – Revenue from Operations Highlights
Q4 & FY26 – Revenue from Operations Highlights Revenue From Operations Gross Profit EBITDA** 2,368* 323 335 2,123 979 917 297 242 650 * 567 254 83 82 234 60 73 Q4 FY26 Q4 FY25 FY26 FY25 Q4 FY26 Q4 FY25 FY26 FY25 Q4 FY26 Q4 FY25 FY26 FY25 Shift % (YoY) 14.6% 11.5% Shift % (YoY) 14.6% 11.5% Margins %
Slide 10: Revenue Performance (excl Global Ingredients) – FY26
Q4 FY26 Q4 FY25 FY26 FY25 Revenue Performance (excl Global Ingredients) – FY26 Fragrances Flavour Emerging Market Europe 1,810* 482 2,052 * 1,859 240 1,621 424 185 564 * 492 63 57 488* 437 138 111 Q4 FY26 Q4 FY25 FY26 FY25 Q4 FY26 Q4 FY25 FY26 FY25 Q4 FY26 Q4 FY25 FY26 FY25 Q4 FY26 Q4 FY25 FY26 FY25
Slide 11: Segmental Performance (excl Global Ingredients) – FY26
Segmental Performance (excl Global Ingredients) – FY26 Fragrance Division – Revenue Fragrance Division – Adj EBITDA 2,052 * The Core Fragrance division 1,859 284 264 continued to witness steady growth during the year, supported by 564* 492 67 sustained customer engagement 61 across the portfolio a
Slide 12: Global Ingredients – Q4 & FY26
Global Ingredients – Q4 & FY26 Revenue EBITDA 67 68 6.6 21 0.3 0.2 16 -1.4 Q4 FY26 Q4 FY25 FY26 FY25 Q4 FY26 Q4 FY25 FY26 FY25 Shift % (Y-o-Y) 27.8% -2.2% 7.3% NA Global Ingredients segment recorded a softer performance, impacted by persistent geopolitical headwinds Over the medium to long term,
Slide 13: Segmental Performance Region-wise
Segmental Performance Region-wise Fragrance (excl Global Ingredients) Revenue Break-up – FY26 Revenue FY26* Y-o-Y Growth (%) RoW, 21% India 5.9% Europe 6.5% Europe, India, 55% 24% Rest of the World (RoW) 32.2% Total Growth 10.4% Flavours Revenue Break-up – FY26 Revenue FY26 Y-o-Y Growth (%) RoW, 44%
Slide 14: Balance Sheet Snapshot – As on March 31, 2026
Balance Sheet Snapshot – As on March 31, 2026 1,279 786 1,362 734 Tangible Assets 65 0.58x 545 Intangible Assets Networth Net Debt & Fixed Assets Cash & Investments Net Debt to Equity (x) Note: 1) Figures in Rs. crore unless specified otherwise 10
Slide 15: Historical Financials and Key Ratios trend
Historical Financials and Key Ratios trend Revenue from operations Gross Profit Gross Margins (%) EBITDA EBITDA Margins (%) 43.2% 40.8% 40.4% 44.1% 43.4% 42.3%* 17.8% 16.5% ** 2,123 2,368 13.7% 15.9% ** 13.9% 1,841 917 979 12.9% 1,564 1,687 813 303 335 323 1,322 639 682 572 236 215 217 FY21 FY22 FY2
Slide 16: Annexure
Annexure 12
Slide 17: Consolidated Summarized P&L Statement
Consolidated Summarized P&L Statement Particulars (Rs. crore) Q4 FY26 Q3 FY26 Q4 FY25 YoY Gr % FY26 FY25 YoY Gr % Revenues from Operations Sales 626.4 564.4 543.8 15.2% 2,284.3 2,042.5 11.8% Sales - Contract Manufacturing 20.9 16.8 20.7 1.2% 74.3 70.3 5.8% Other Operating Income 2.6 2.7 2.9 -11.2% 9
Slide 18: Consolidated Balance Sheet
Consolidated Balance Sheet Consolidated Statement of Assets and As at March 31, As at March 31, Consolidated Statement of Assets and Liabilities As at March 31, As at March Liabilities 2026 2025 2026 31, 2025 Audited Audited Particulars Audited Audited Particulars B EQUITY AND LIABILITIES A ASSETS 1
Slide 19: About Us
About Us S H Kelkar and Company Limited (SHK) is the largest Indian-origin Fragrance & Flavour For further information please contact: 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 use
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