S H Kelkar & Co.

Why is S H Kelkar & Company Ltd falling/rising?

As of 09-Aug, S H Kelkar & Company Ltd's stock price is declining at 167.80, down 1.79%, following a trend reversal after two days of gains. The company has underperformed its sector and market averages, showing weak financial fundamentals and decreased institutional investor participation, contributing to negative sentiment around the stock.

As of 09-Aug, S H Kelkar & Company Ltd is experiencing a decline in its stock price, currently at 167.80, reflecting a change of -3.05 (-1.79%). This drop follows a trend reversal after two consecutive days of gains, with the stock opening down by 2.02% today. The intraday performance shows that the stock reached a high of Rs 174.75 but fell to a low of Rs 165.3, indicating significant volatility within the trading day.<BR><BR>The stock has underperformed its sector by 3.1% today and has generated a return of -31.24% over the past year, which is considerably worse than the market average return of 4.11% during the same period. Additionally, the company's financial fundamentals reveal weak long-term strength, with a -6.22% CAGR growth in operating profits over the last five years and a high Debt to EBITDA ratio of 4.24 times, suggesting low ability to service debt.<BR><BR>Moreover, institutional investor participation has decreased, with a reduction of -0.67% in their stake over the previous quarter. This decline in institutional interest may contribute to the negative sentiment surrounding the stock. Despite a recent increase in delivery volume, which rose by 67.79% against the 5-day average, the overall financial performance, including a -62.6% drop in profits and a low return on equity of 9.04%, indicates underlying weaknesses that are likely influencing the stock's current downward trajectory.

Which are the latest news on S H Kelkar & Co.?

Are S H Kelkar & Company Ltd latest results good or bad?

S H Kelkar & Company Ltd's latest results show strong revenue and profit growth, with a net profit increase of 77.55% year-on-year. However, concerns about margin sustainability, operational efficiency, and low return on equity suggest caution for long-term investors.

S H Kelkar & Company Ltd's latest results present a mixed picture. On one hand, the company reported a significant net profit of ₹45.40 crores for Q1 FY27, which marks a remarkable increase of 77.55% year-on-year. Revenue also grew by 14.11% to ₹662.42 crores, indicating sustained demand for its products in the fragrance and aroma sectors.<BR><BR>However, despite these headline figures, there are underlying challenges that raise concerns about the company's long-term prospects. The operating margin improved to 13.44%, but this remains volatile and below historical performance levels. The profit after tax margin of 6.80% shows that while there is growth, converting revenue into profit remains a struggle, especially when compared to previous years.<BR><BR>Additionally, the company's return on equity (ROE) has dropped to a concerning 3.32%, significantly below industry standards, indicating inefficiencies in capital utilization. The increase in employee costs outpacing revenue growth suggests potential operational inefficiencies that need to be addressed.<BR><BR>Overall, while the latest results show some positive trends, the persistent challenges in margin sustainability, operational efficiency, and capital returns suggest that the company's long-term investment appeal is questionable. Investors may want to approach with caution given these factors.

Should I buy, sell or hold S H Kelkar & Company Ltd?

When is the next results date for S H Kelkar & Company Ltd?

The next results date for S H Kelkar & Company Ltd is 28 July 2026.

The next results date for S H Kelkar & Company Ltd is scheduled for 28 July 2026.

What does S H Kelkar & Co. do?

S H Kelkar & Company Ltd is the largest Indian-origin fragrance and flavor company in the specialty chemicals industry, with a market cap of INR 1,728 Cr. As of March 2026, it reported net sales of 650 Cr and a net profit of 2 Cr.

Overview:<BR>S H Kelkar & Company Ltd is the largest Indian-origin fragrance and flavour company operating in the specialty chemicals industry, categorized as a small-cap company.<BR><BR>History:<BR>The company was incorporated on July 1, 1955, in Mumbai, taking over businesses previously conducted by Mr. V.G. Vaze and the firm M/s Saraswati Chemical Works. The latest quarterly results reported net sales and profit for March 2026.<BR><BR>Financial Snapshot:<BR>- Net Sales: 650 Cr (Quarterly Results - Mar 2026)<BR>- Net Profit: 2 Cr (Quarterly Results - Mar 2026)<BR>- Market Cap: INR 1,728 Cr (Small Cap)<BR><BR>Key Metrics:<BR>- P/E: 38.00<BR>- Industry P/E: 42<BR>- Dividend Yield: 1.60%<BR>- Debt-Equity: 0.71<BR>- Return on Equity: 3.32%<BR>- Price to Book: 1.27<BR><BR>Contact Details:<BR>Address: Devkaran Mansion, 36 Mangaldas Road, Mumbai, Maharashtra: 400002 <BR>Tel: 91-22-21649163 <BR>Email: investors@keva.co.in <BR>Website: http://www.keva.co.in

How big is S H Kelkar & Co.?

As of 10th June, S H Kelkar & Company Ltd has a market capitalization of 1,728.00 Cr, with recent net sales of 2,368.26 Cr and a net profit of 69.26 Cr. Shareholder's funds are valued at 1,271.96 Cr, and total assets amount to 2,659.80 Cr.

As of 10th June, S H Kelkar & Company Ltd has a market capitalization of 1,728.00 Cr, categorizing it as a Small Cap company.<BR><BR>In the latest four quarters, the company reported Net Sales of 2,368.26 Cr and a Net Profit of 69.26 Cr.<BR><BR>For the latest annual period ending March 2025, Shareholder's Funds were valued at 1,271.96 Cr, while Total Assets amounted to 2,659.80 Cr.

Who are in the management team of S H Kelkar & Co.?

The management team of S H Kelkar & Co. includes Ramesh Vinayak Vaze (Chairman), Kedar Ramesh Vaze (Whole-time Director), and several non-executive and independent directors, including Shrikant Oka and Mark Elliott, among others. They oversee the company's strategic direction and regulatory compliance.

The management team of S H Kelkar & Co. includes the following members:<BR><BR>1. **Ramesh Vinayak Vaze** - Chairman (Non-Executive)<BR>2. **Prabha Ramesh Vaze** - Non-Executive & Non-Independent Director<BR>3. **Kedar Ramesh Vaze** - Whole-time Director<BR>4. **Shrikant Oka** - Non-Executive & Independent Director<BR>5. **Mark Elliott** - Non-Executive & Independent Director<BR>6. **Vasant Gujarathi** - Independent Director<BR>7. **Neela Bhattacherjee** - Independent Director<BR>8. **Rohit Saraogi** - Company Secretary & Compliance Officer<BR>9. **Deepak Raj Bindra** - Non-Executive & Independent Director<BR><BR>This team is responsible for guiding the company's strategic direction and ensuring compliance with regulatory requirements.

Who are the peers of the S H Kelkar & Co.?

Peers of S H Kelkar & Co. include NOCIL, DDev Plastiks, Camlin Fine, and others. S H Kelkar & Co. has average management risk and a 1-year return of -50.71%, better than Camlin Fine but worse than Titan Biotech, which has the highest return at 412.73%.

Peers: The peers of S H Kelkar & Co. are NOCIL, DDev Plastiks, Camlin Fine, Bhansali Engg., Titan Biotech, Vidhi Specialty, Indokem, Nitta Gelatin, Platinum Industr, and Paushak.<BR><BR>Quality Snapshot: Excellent management risk is observed at NOCIL, DDev Plastiks, Bhansali Engg., Titan Biotech, Vidhi Specialty, Nitta Gelatin, Platinum Industr, and Paushak, while Average management risk is found at S H Kelkar & Co., Indokem, and the rest. Good growth is noted at DDev Plastiks, while Average growth is seen at Nitta Gelatin, Indokem, and the rest. Below Average growth is present at NOCIL, Camlin Fine, Bhansali Engg., Titan Biotech, S H Kelkar & Co., Vidhi Specialty, and Platinum Industr.<BR><BR>Return Snapshot: The peer with the highest 1-year return is Titan Biotech at 412.73%, while the lowest is Camlin Fine at -57.53%. S H Kelkar & Co. has a 1-year return of -50.71%, which is better than Camlin Fine but worse than Titan Biotech. Additionally, the six-month return is negative for DDev Plastiks, Camlin Fine, Bhansali Engg., S H Kelkar & Co., Vidhi Specialty, Indokem, Platinum Industr, and Paushak.

Is S H Kelkar & Co. technically bullish or bearish?

As of November 26, 2025, S H Kelkar & Co. is in a bearish trend with moderate strength, indicated by bearish signals from the weekly MACD, Bollinger Bands, and daily moving averages, while monthly indicators show mild bearishness.

As of 26 November 2025, the technical trend has changed from mildly bearish to bearish. The current technical stance is bearish with a moderate strength. Key indicators driving this stance include the weekly MACD and Bollinger Bands both signaling bearish conditions, along with daily moving averages also indicating a bearish trend. The monthly MACD and KST are mildly bearish, suggesting some weakness but not a strong sell signal. The Dow Theory shows no trend on a weekly basis but is mildly bearish on a monthly basis. Overall, the combination of these indicators points to a bearish outlook for S H Kelkar & Co.

How has been the historical performance of S H Kelkar & Co.?

S H Kelkar & Co. has shown consistent growth in net sales, reaching 2,123.40 crore in March 2025, but profitability metrics have declined, with profit after tax dropping to 75.46 crore from 123.80 crore the previous year. Total assets and liabilities increased, indicating a rise in debt to 744.85 crore, while cash flow from operating activities decreased.

Answer:<BR>The historical performance of S H Kelkar & Co. shows a consistent growth trend in net sales and total operating income over the past several years, culminating in net sales of 2,123.40 crore in March 2025, up from 1,840.83 crore in March 2024 and 1,686.52 crore in March 2023. The total operating income followed a similar trajectory, reaching 2,123.40 crore in March 2025. However, the total expenditure also increased, amounting to 1,826.39 crore in March 2025, compared to 1,537.58 crore in March 2024. Operating profit, excluding other income, was 297.01 crore in March 2025, slightly down from 303.25 crore in the previous year, while the overall operating profit stood at 320.86 crore. Profit before tax decreased to 116.19 crore in March 2025 from 183.28 crore in March 2024, leading to a profit after tax of 75.46 crore, down from 123.80 crore. The earnings per share also declined to 5.29 in March 2025 from 8.84 in March 2024. <BR><BR>In terms of assets and liabilities, total assets increased to 2,659.80 crore in March 2025 from 2,380.68 crore in March 2024, with total liabilities also rising to 2,659.80 crore. The company’s total debt rose to 744.85 crore in March 2025, compared to 616.92 crore in March 2024. Cash flow from operating activities showed a decrease to 107.00 crore in March 2024 from 196.00 crore in March 2023, while net cash inflow was positive at 32.00 crore in March 2024, following a negative outflow in the previous year. Overall, while S H Kelkar & Co. has demonstrated growth in sales and operating income, profitability metrics have shown volatility, and the increase in liabilities and debt warrants attention.<BR><BR>Breakdown:<BR>S H Kelkar & Co. has shown a steady increase in net sales, reaching 2,123.40 crore in March 2025, up from 1,840.83 crore in March 2024. This growth in total operating income mirrors the sales trend, with a total of 2,123.40 crore reported in March 2025. However, total expenditure also rose to 1,826.39 crore, impacting profitability. Operating profit, excluding other income, was slightly lower at 297.01 crore in March 2025 compared to 303.25 crore in March 2024, while the overall operating profit was 320.86 crore. Profit before tax saw a significant drop to 116.19 crore, resulting in a profit after tax of 75.46 crore, down from 123.80 crore the previous year. The earnings per share decreased to 5.29 from 8.84. On the balance sheet, total assets increased to 2,659.80 crore, with total liabilities also rising to the same figure, indicating a growing debt level of 744.85 crore. Cash flow from operating activities decreased to 107.00 crore, reflecting a challenging cash flow environment despite a positive net cash inflow of 32.00 crore in March 2024.

Is S H Kelkar & Co. overvalued or undervalued?

As of November 10, 2025, S H Kelkar & Co. is considered very attractive and undervalued in the specialty chemicals industry, with a PE ratio of 27.97 and a Price to Book Value of 0.20, especially compared to its expensive peers like Solar Industries and Gujarat Fluorochemicals, despite a year-to-date stock decline of 23.35%.

As of 10 November 2025, the valuation grade for S H Kelkar & Co. has moved from attractive to very attractive, indicating a significant improvement in its perceived value. The company is currently considered undervalued, particularly in comparison to its peers in the specialty chemicals industry. Key ratios include a PE ratio of 27.97, an EV to EBITDA of 30.82, and a Price to Book Value of 0.20, which suggest that the company is trading at a lower valuation relative to its earnings and assets.<BR><BR>In contrast, peers such as Solar Industries and Gujarat Fluorochemicals are classified as very expensive, with PE ratios of 96.11 and 62.86, respectively. This highlights S H Kelkar & Co.'s relative attractiveness in the market. Despite recent stock performance trailing the Sensex, with a year-to-date decline of 23.35% compared to the Sensex's gain of 6.91%, the company's strong valuation metrics suggest it may present a compelling investment opportunity moving forward.

Who are the top shareholders of the S H Kelkar & Co.?

The top shareholders of S H Kelkar & Co. include the Ramesh Vinayak Vaze Family Trust with 19.51%, institutional investors holding 10.98% (including 7.22% from FIIs), and individual investors at 18.6%, reflecting a strong promoter presence alongside diverse institutional and public participation.

The top shareholders of S H Kelkar & Co. include a mix of promoters, institutional investors, and individual shareholders. The majority of the shares are held by promoters, with the Ramesh Vinayak Vaze Family Trust being the largest individual shareholder, holding 19.51%. <BR><BR>In terms of institutional holdings, mutual funds collectively hold 2.76% through four schemes, while foreign institutional investors (FIIs) have a stake of 7.22% across 57 entities. The highest public shareholder is Firmenich Aromatics Production (India) Pvt Ltd, which holds 10.2%. Additionally, individual investors account for 18.6% of the shareholding. <BR><BR>Overall, the ownership structure reflects a strong presence of promoter holdings alongside significant participation from institutional and individual investors.

Has S H Kelkar & Co. declared dividend?

S H Kelkar & Company Ltd has declared a 7% dividend, amounting to 0.7 per share, with an ex-date of April 12, 2024. Despite the dividend declaration, the dividend yield is 0%, but the company has shown significant total returns over various periods, particularly in the long term.

S H Kelkar & Company Ltd has declared a 7% dividend.<BR><BR>Dividend Details:<BR>- Percentage announced: 7%<BR>- Amount per share: 0.7<BR>- Ex-date: 12 Apr 2024<BR><BR>Dividend Yield: 0%<BR><BR>Total Returns by Period:<BR>In the past 6 months, the price return was -12.24%, with a dividend return of 0%, resulting in a total return of -12.24%.<BR><BR>Over the last year, the price return was 27.73%, the dividend return was 0%, leading to a total return of 27.73%.<BR><BR>In the 2-year period, the price return was 104.52%, with a dividend return of 2.32%, culminating in a total return of 106.84%.<BR><BR>For the 3-year period, the price return was 89.96%, the dividend return was 2.51%, which resulted in a total return of 92.47%.<BR><BR>In the 4-year period, the price return stood at 54.59%, with a dividend return of 2.33%, leading to a total return of 56.92%.<BR><BR>Finally, over the past 5 years, the price return was 245.75%, the dividend return was 7.50%, resulting in a total return of 253.25%.<BR><BR>Overall, while S H Kelkar & Company Ltd has declared a dividend, the dividend yield remains at 0%. The total returns over various periods show significant growth, particularly over the longer term, indicating a positive trend in the company's performance despite recent fluctuations.