| Management target | Revenue 12.0% |
|---|
| Revenue growth | 15% YoY growth to ₹636 Cr in Q2 FY27. |
|---|---|
| Margins | EBITDA margins improved to 13%; targeting 15% in 12-18 months. |
| Demand visibility | Strong demand in Asia and Europe; Middle East remains subdued. |
| Management confidence | Optimistic about long-term global expansion despite short-term margin pressures. |
Growth
Revenue grew 15% YoY to ₹636 Cr; flavor segment surged 47%, while fragrance grew 12%.
Outlook
Management targets 12% revenue growth and expects debt reduction by March 2027 through inventory optimization.
Risks
High inventory levels and geopolitical instability in the Middle East impact working capital and demand predictability.
Last quarter's promises, checked
Delivered
- Guided double-digit growth 'across the board' → Q rev +15%, Fragrance +12%, Flavour +47% (= BEAT)
Partly delivered
- Guided Vanvate operational Q3 FY27 → factory renewal complete by end-FY27 (= PARTIAL)
- Guided US revenue 1.5–2 Mn for FY27 → only first sales disclosed (= PARTIAL)
- Guided double-digit FY growth → Q +15%, FY not yet testable (= PARTIAL)
Missed
- Guided net debt ~flat at ₹852 Cr in Sep qtr → ₹911 Cr (= MISS)
- Guided ~₹50 Cr remaining India capex → ₹80 Cr remaining FY27-28 (= MISS)
- Guided FY margin above Q1's 13.4% → 13% (= MISS)
Earnings Call Transcript filed with NSE, NSE: SHK. Summary written with AI assistance from the document.
S H Kelkar & Company Ltd: key numbers
- Share price
- ₹130.35
- Market cap
- ₹1,804 Cr
- Revenue (annual)
- ₹2,368 Cr
- Net profit (annual)
- ₹69.26 Cr
- P/E (TTM)
- 19.1×Sector 40.9×
- Promoter holding
- 54.87%+0.00% QoQ
- FII holding
- 5.27%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from S H Kelkar & Company Ltd
All →S H Kelkar & Company Annual General Meeting
S H Kelkar and Company has issued a postal ballot notice seeking shareholder approval for three independent director re-appointments and one non-executive director appointment. E-voting runs from 9 November to 8 December 2026.
S H Kelkar & Company Results Update
S H Kelkar and Company released its Q2 and H1 FY27 results press release and investor presentation. H1 revenue rose 14.5% and EBITDA margin reached 13.0%.
S H Kelkar & Company Management Change
S H Kelkar appointed Sumedha Karmarkar as non-executive director and re-appointed three independent directors for five-year terms. Changes take effect between November 2026 and May 2027.
- Execution
- 60 months for each re-appointed independent director; term for Sumedha Karmarkar not stated
S H Kelkar & Company Q2 FY27 Results: Net Profit ₹14.6 Cr, Up 58.7% YoY
S H Kelkar & Company Ltd reported revenue from operations of ₹636.2 Cr (+14.9% YoY) and net profit of ₹14.6 Cr (+58.7% YoY) for Q2 FY27.
- Key figure
- Net profit ₹14.6 Cr · +58.7% YoY
S H Kelkar & Company Legal & Regulatory
S H Kelkar received cautionary letters from BSE and NSE for filing late the schedule of an analyst meet held on March 3, 2025. The company states the matter had no financial impact.
S H Kelkar & Company Share Pledge
Promoter group entity Keva Constructions released a pledge on 15.99 lakh equity shares. The company reports no shares are currently under pledge.
- Value
- ₹21.59 Cr