S H Kelkar and Company Ltd · NSE:SHK
S H Kelkar and — Q2 FY2027 Earnings Presentation
20 slides from S H Kelkar and's earnings presentation, Nov 2, 2026
Slide 1: Cover letter to BSE and NSE
November 02, 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 Q2 & H1 FY2027 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 Q2 & H1 FY2027 results H1 FY2027 Revenue from operations stood at Rs. 1,298.6 cr, hig
Slide 3: Management commentary on performance and strategic direction
Commenting on the Company’s performance and strategic direction, Mr. Kedar Vaze, Whole Time Director & CEO at S H Kelkar and Company Limited, said: “Our first-half performance has been encouraging. We remain focused on staying close to customers and strengthening our presence across the Fragrance an
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 Q2 and H1 FY 26-27
S H KELKAR AND COMPANY LIMITED Q2 and H1 FY 26-27 EARNINGS PRESENTATION November 2026
Slide 6: Disclaimer
Disclaimer Certain statements and opinions with respect to the anticipated future performance of 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. Such forward-lo
Slide 7: Management Comment
Management Comment Commenting on the performance, Mr. Kedar Vaze, Whole Time Director & CEO at SH Kelkar and Company Ltd. said: “Our first-half performance has been encouraging. We remain focused on staying close to customers and strengthening our presence across the Fragrance and Flavour businesses
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: “In H1 FY27, consolidated revenues grew 14% YoY to Rs. 1,299 crore, while EBITDA rose 33% to Rs. 168 crore, with margins at 13.0%. Proacti
Slide 9: H1 FY27 – Financial Highlights
H1 FY27 – Financial Highlights Healthy revenue growth with improved operating leverage ₹1,299 crore 42.6% ₹167 crore ₹60 crore H1 FY27 Revenue from operations Gross Margin EBITDA PAT 14.5% YoY 25 bps YoY 33.3% YoY 72.4% YoY Revenue from operation Gross Profit EBITDA PAT 1,299 551 167 1,134 4
Slide 10: Revenue Performance (excl Global Ingredients) – H1 FY27
Revenue Performance (excl Global Ingredients) – H1 FY27 Growth supported by Flavours and international markets Business Segment Revenue Market Segment Revenue Geography-wise Revenue Fragrance Flavours Total Emerging Markets Europe Total India Europe RoW RoW 1,272 +15.9% 1,272 +15.9% 1,272 +18.4% YoY
Slide 11: Revenue Performance (excl Global Ingredients) – Q2 FY27
Revenue Performance (excl Global Ingredients) – Q2 FY27 Growth supported by Flavours and international markets Business Segment Revenue Market Segment Revenue Geography-wise Revenue Fragrance Flavours Total Emerging Markets Europe Total India Europe RoW RoW +16.2% +16.2% 621 -1.0% 621 YoY 621 YoY Yo
Slide 12: Segmental Performance (excl. Global Ingredients) – H1 FY27
Segmental Performance (excl. Global Ingredients) – H1 FY27 Strong Flavour momentum alongside continued Fragrance growth Fragrance Flavour Revenue EBITDA Revenue EBITDA H1 FY27 ₹1,088 11.9% YoY ₹121 24.1% YoY ₹184 47.4% YoY ₹52 92.0% YoY 184 52 121 1,088 973 97 125 27 H1 FY27 H1 FY26 H1 FY27
Slide 13: Segmental Performance – Region-wise
Segmental Performance – Region-wise International markets continue to drive incremental growth Fragrance Revenue Mix - H1 FY27 Revenue Growth – H1 FY27 YoY RoW Total Growth 18% 43% Europe India International revenue share +11.9% 57% (Europe + RoW) +9.6% +16.4% +13.2% YoY 25% Flavour Revenue Mix - H1
Slide 14: Global Ingredients – H1 FY27
Global Ingredients –H1FY27 Near-term export headwinds impact performance Revenue EBITDA 32 1 20 -5 H1 FY27 H1 FY26 H1 FY27 H1 FY26 Global Ingredients’ business continued to navigate a challenging operating environment, marked by volatility across global supply chains and commodity markets. Focus rem
Slide 15: Balance Sheet Snapshot – As on September 30, 2026
Balance Sheet Snapshot – As on September 30, 2026 Networth Fixed Assets 1,420 1,312 Net Debt & Cash & Investments Net Debt to Equity (x) 62 911/0.64x Note: 1) Figures in Rs. crore unless specified otherwise 11
Slide 16: Annexure
Annexure 12
Slide 17: Consolidated Summarized P&L Statement
Consolidated Summarized P&L Statement Particulars (Rs. crore) Q2 FY 27 Q1 FY 26 Q2 FY 26 YoY Gr % H1 FY27 H1 FY26 YoY Shift Revenues from Operations Sales 614.8 642.9 531.4 15.7% 1,257.7 1,093.2 15.0% Sales - Contract Manufacturing 18.3 16.9 20.0 -8.9% 35.1 36.7 -4.2% Other Operating Income 3.1 2.7
Slide 18: Consolidated Balance Sheet
Consolidated Balance Sheet As at September As at March 31, As at September As at March 31, Consolidated Statement of Assets and Liabilities Consolidated Statement of Assets and Liabilities 30, 2026 2026 30, 2026 2026 Particulars Unaudited Unaudited Particulars Unaudited Unaudited A ASSETS B EQUITY A
Slide 19: About Us
About Us 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 For further information, please contact: 100 years of experience. Its fragrance products and ingredients are us
Slide 20: Thank You
Thank You
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