S H Kelkar & Company Ltd

S H Kelkar & Co. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

S H Kelkar & Company Ltd

₹ 244 0.31%
30 May - close price
keva.co.in BSE: 539450 NSE: SHK
About

S H Kelkar and Company Limited is engaged in manufacture, supply and exports of fragrances and aroma ingredients[1] It is the largest domestic fragrance producer in India and the only company of Indian origin to file patents in the field of Fragrance & Novel aroma molecules.

Key Points

Product Portfolio
Fragrances - Personal care, Hair care, Skin care & cosmetics, fabric care, House products, etc.
Flavors - Food applications format, High-performance formats, etc...
Services - Biotechnology research service, Cosmetic research services, custom synthesis service. [1]
Co. offers products under the SHK, Cobra, Auris, Wheel, Three Birds and Keva brands. In FY23, the Fragrance segment remained the primary revenue contributor with ~87% share[2].The company has about 9700+SKUs.[3]

Website BSE NSE
  • Market Cap ₹ 3,373 Cr.
  • Current Price ₹ 244
  • High / Low ₹ 336 / 142
  • Stock P/E 59.4
  • Book Value ₹ 53.0
  • Dividend Yield 0.31 %
  • ROCE 7.54 %
  • ROE 7.61 %
  • Face Value ₹ 10.0
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Pros

Cons

  • Stock is trading at 4.60 times its book value
  • The company has delivered a poor sales growth of 9.61% over past five years.
  • Company has a low return on equity of 10.5% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
221 209 221 216 233 224 238 231 248 237 324 298 278
199 178 185 188 205 189 202 196 220 211 294 278 272
Operating Profit 23 32 36 29 28 35 36 36 28 25 30 20 6
OPM % 10% 15% 16% 13% 12% 16% 15% 15% 11% 11% 9% 7% 2%
5 1 -21 2 2 15 1 2 2 -108 2 1 50
Interest 1 1 1 1 2 2 2 2 2 2 4 7 5
Depreciation 7 7 8 6 6 6 6 6 6 6 6 6 8
Profit before tax 21 25 7 23 22 42 29 29 22 -91 21 8 43
Tax % 58% 26% 59% 31% 32% 17% 25% 27% 27% 1% 48% 19% -40%
9 18 3 16 15 35 22 22 16 -92 11 6 61
EPS in Rs 0.63 1.33 0.19 1.16 1.08 2.51 1.58 1.56 1.17 -6.63 0.80 0.46 4.40
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
399 471 559 615 682 694 719 761 807 880 941 1,137
317 405 466 514 579 629 646 661 722 754 806 1,055
Operating Profit 81 66 93 101 103 65 73 100 85 125 134 82
OPM % 20% 14% 17% 16% 15% 9% 10% 13% 11% 14% 14% 7%
3 32 24 11 14 19 10 34 13 -16 21 -55
Interest 15 13 14 3 3 7 12 6 4 5 7 19
Depreciation 13 15 13 7 11 15 28 28 28 27 26 26
Profit before tax 57 70 89 103 103 62 43 100 66 77 123 -18
Tax % 23% 12% 26% 28% 33% 28% 26% 20% 36% 32% 23% -27%
44 62 66 74 69 45 32 80 42 52 94 -14
EPS in Rs 3,316.70 4.66 4.54 5.14 4.77 3.11 2.26 5.64 3.07 3.77 6.81 -0.98
Dividend Payout % 34% 23% 33% 34% 37% 0% 42% 31% 24% 53% 11% -102%
Compounded Sales Growth
10 Years: 9%
5 Years: 10%
3 Years: 12%
TTM: 21%
Compounded Profit Growth
10 Years: 1%
5 Years: 13%
3 Years: 10%
TTM: -40%
Stock Price CAGR
10 Years: %
5 Years: 33%
3 Years: 23%
1 Year: 27%
Return on Equity
10 Years: 10%
5 Years: 10%
3 Years: 11%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 13 132 145 145 145 145 141 141 138 138 138 138
Reserves 256 168 401 474 483 452 427 494 463 504 620 595
119 154 0 1 19 87 76 67 47 95 83 326
107 100 114 140 207 207 298 329 370 347 359 380
Total Liabilities 495 555 660 759 854 891 943 1,031 1,018 1,086 1,201 1,439
104 94 93 114 154 201 254 222 224 202 186 197
CWIP 0 0 0 5 18 24 13 17 3 8 6 16
Investments 98 99 167 220 269 269 253 321 322 311 343 502
293 361 400 421 412 397 422 472 470 565 666 724
Total Assets 495 555 660 759 854 891 943 1,031 1,018 1,086 1,201 1,439

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
10 21 45 67 118 105 187 84 84 -11 30 -13
-30 26 -57 -92 -88 -87 -32 -65 10 -24 -20 -178
10 0 3 -3 -49 -13 -124 -24 -116 33 4 182
Net Cash Flow -9 47 -9 -28 -19 5 31 -5 -21 -3 14 -8

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 76 59 75 82 100 66 74 96 73 59 66 52
Inventory Days 273 244 217 198 147 164 147 136 185 239 269 182
Days Payable 113 65 94 71 131 127 199 211 234 193 192 147
Cash Conversion Cycle 236 238 198 209 117 103 23 21 25 104 143 88
Working Capital Days 133 142 151 160 109 98 33 49 35 76 100 96
ROCE % 19% 17% 21% 18% 17% 10% 8% 16% 10% 15% 16% 8%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
58.46% 57.66% 58.47% 58.65% 58.95% 58.95% 58.95% 58.95% 58.75% 55.63% 55.63% 55.48%
9.77% 9.54% 9.27% 9.30% 9.68% 8.33% 8.24% 8.86% 8.71% 9.40% 7.54% 7.22%
3.82% 3.81% 3.74% 2.78% 1.37% 1.42% 1.27% 0.27% 0.27% 2.26% 3.10% 3.44%
25.61% 26.65% 26.19% 26.92% 27.66% 31.28% 31.52% 31.92% 32.27% 32.72% 33.75% 33.87%
2.34% 2.34% 2.34% 2.34% 2.34% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
No. of Shareholders 48,41247,14445,60245,15544,88042,08641,94646,37946,91242,01445,63947,229

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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