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

₹ 189 -3.99%
06 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 ₹ 2,611 Cr.
  • Current Price ₹ 189
  • High / Low ₹ 232 / 103
  • Stock P/E 28.0
  • Book Value ₹ 52.1
  • Dividend Yield 1.06 %
  • ROCE 15.0 %
  • ROE 10.8 %
  • Face Value ₹ 10.0
Edit ratios

Pros

  • Company has been maintaining a healthy dividend payout of 36.2%
  • Debtor days have improved from 76.1 to 59.1 days.

Cons

  • Stock is trading at 3.62 times its book value
  • The company has delivered a poor sales growth of 5.23% over past five years.
  • Company has a low return on equity of 10.3% over last 3 years.
  • Working capital days have increased from 53.5 days to 76.4 days

* 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

Sector: Chemicals Industry: Chemicals

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
186 221 193 175 218 221 209 221 216 233 224 238 231
157 192 180 156 188 199 178 185 188 205 189 202 196
Operating Profit 29 29 14 19 30 23 32 36 29 28 35 36 36
OPM % 16% 13% 7% 11% 14% 10% 15% 16% 13% 12% 16% 15% 15%
17 10 2 2 3 5 1 -21 2 2 15 1 2
Interest 1 2 1 1 1 1 1 1 1 2 2 2 2
Depreciation 7 7 7 7 7 7 7 8 6 6 6 6 6
Profit before tax 38 31 8 13 25 21 25 7 23 22 42 29 29
Tax % 17% 18% 25% 26% 26% 58% 26% 59% 31% 32% 17% 25% 27%
31 25 6 10 18 9 18 3 16 15 35 22 22
EPS in Rs 2.21 1.77 0.43 0.68 1.29 0.63 1.33 0.19 1.16 1.08 2.51 1.58 1.56
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
305 341 399 471 559 615 682 694 719 761 807 880 926
240 276 317 405 466 514 579 629 646 661 722 754 791
Operating Profit 64 65 81 66 93 101 103 65 73 100 85 125 135
OPM % 21% 19% 20% 14% 17% 16% 15% 9% 10% 13% 11% 14% 15%
7 2 3 32 24 11 14 19 10 34 13 -16 20
Interest 25 19 15 13 14 3 3 7 12 6 4 5 7
Depreciation 12 12 13 15 13 7 11 15 28 28 28 27 26
Profit before tax 35 36 57 70 89 103 103 62 43 100 66 77 122
Tax % 29% 41% 23% 12% 26% 28% 33% 28% 26% 20% 36% 32%
25 22 44 62 66 74 69 45 32 80 42 52 93
EPS in Rs 4,784.20 1,792.19 3,316.70 4.66 4.54 5.14 4.77 3.11 2.26 5.64 3.07 3.77 6.73
Dividend Payout % 0% 37% 34% 23% 33% 34% 37% 0% 42% 31% 24% 53%
Compounded Sales Growth
10 Years: 10%
5 Years: 5%
3 Years: 7%
TTM: 7%
Compounded Profit Growth
10 Years: 12%
5 Years: 0%
3 Years: 29%
TTM: 30%
Stock Price CAGR
10 Years: %
5 Years: 5%
3 Years: 7%
1 Year: 73%
Return on Equity
10 Years: 11%
5 Years: 9%
3 Years: 10%
Last Year: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 5 12 13 132 145 145 145 145 141 141 138 138 138
Reserves 136 292 256 168 401 474 483 452 427 494 463 504 583
Preference Capital 102 0 1 9 0 0 0 0 0 0 0 0
181 94 118 145 0 1 19 87 76 67 47 95 76
154 79 108 109 114 140 207 207 298 329 370 347 396
Total Liabilities 477 477 495 555 660 759 854 891 943 1,031 1,018 1,086 1,193
97 98 104 94 93 114 154 201 254 222 224 202 202
CWIP 21 26 0 0 0 5 18 24 13 17 3 8 0
Investments 112 113 98 99 167 220 269 269 253 321 322 311 356
246 241 293 361 400 421 412 397 422 472 470 565 635
Total Assets 477 477 495 555 660 759 854 891 943 1,031 1,018 1,086 1,193

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
59 90 10 21 45 67 118 105 187 84 84 -11
-17 -14 -30 26 -57 -92 -88 -87 -32 -65 10 -24
-38 -66 10 0 3 -3 -49 -13 -124 -24 -116 33
Net Cash Flow 4 10 -9 47 -9 -28 -19 5 31 -5 -21 -3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 84 76 76 59 75 82 100 66 74 96 73 59
Inventory Days 252 218 273 244 217 198 147 164 147 136 185 239
Days Payable 54 96 113 65 94 71 131 127 199 211 234 193
Cash Conversion Cycle 282 198 236 238 198 209 117 103 23 21 25 104
Working Capital Days 213 154 133 142 151 160 109 98 33 49 35 76
ROCE % 14% 13% 19% 17% 21% 18% 17% 10% 8% 16% 10% 15%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
58.57% 58.57% 58.57% 58.46% 58.46% 57.66% 58.47% 58.65% 58.95% 58.95% 58.95% 58.95%
7.08% 7.38% 7.60% 9.33% 9.77% 9.54% 9.27% 9.30% 9.68% 8.33% 8.24% 8.86%
4.85% 5.00% 4.70% 3.85% 3.82% 3.81% 3.74% 2.78% 1.37% 1.42% 1.27% 0.27%
27.17% 26.71% 26.80% 26.01% 25.61% 26.65% 26.19% 26.92% 27.66% 31.28% 31.52% 31.92%
2.34% 2.34% 2.34% 2.34% 2.34% 2.34% 2.34% 2.34% 2.34% 0.00% 0.00% 0.00%
No. of Shareholders 44,81954,07854,93750,75948,41247,14445,60245,15544,88042,08641,94646,379

* 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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