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 -13.06%
10 Nov 3:58 p.m.
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[1]
a) Fragrance Products: Used in personal wash, fabric care, skin and hair care, fine fragrances, and household products
b) Flavour Products: Used in baked goods, dairy products, beverages, and pharmaceuticals
c) Aroma Ingredients & Natural Actives: Includes specially created molecules and patented ingredients for personal care and flavors, some of which have commercial success in deodorants and fine fragrance

Website BSE NSE
  • Market Cap ₹ 2,613 Cr.
  • Current Price ₹ 189
  • High / Low ₹ 303 / 142
  • Stock P/E 26.2
  • Book Value ₹ 96.1
  • Dividend Yield 0.50 %
  • ROCE 10.3 %
  • ROE 7.70 %
  • Face Value ₹ 10.0
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Pros

  • Company has been maintaining a healthy dividend payout of 24.2%

Cons

  • Company has a low return on equity of 8.42% over last 3 years.
  • Company might be capitalizing the interest cost

* 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

Consolidated Figures in Rs. Crores / View Standalone

Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
414.18 384.90 472.43 422.56 455.44 471.68 513.34 470.31 542.50 543.21 567.38 580.63 553.89
362.52 341.46 405.18 354.61 383.81 395.82 423.80 392.05 462.38 479.56 493.95 507.62 501.50
Operating Profit 51.66 43.44 67.25 67.95 71.63 75.86 89.54 78.26 80.12 63.65 73.43 73.01 52.39
OPM % 12.47% 11.29% 14.23% 16.08% 15.73% 16.08% 17.44% 16.64% 14.77% 11.72% 12.94% 12.57% 9.46%
8.99 1.53 -20.44 1.62 1.80 1.90 -0.18 -120.29 20.65 0.89 61.15 3.04 1.06
Interest 5.08 6.35 7.47 9.82 9.95 10.35 10.04 9.89 12.82 13.82 12.89 13.07 13.91
Depreciation 20.42 19.72 20.52 20.85 22.31 21.68 22.03 22.49 24.18 23.35 24.68 26.37 27.38
Profit before tax 35.15 18.90 18.82 38.90 41.17 45.73 57.29 -74.41 63.77 27.37 97.01 36.61 12.16
Tax % 28.22% 29.31% 94.00% 28.46% 26.74% 29.74% 41.65% 16.68% 37.57% 36.02% -5.67% 30.21% 24.59%
25.23 13.36 1.13 27.83 30.16 32.13 33.43 -86.82 39.81 17.51 102.51 25.55 9.17
EPS in Rs 1.75 0.94 0.17 1.96 2.12 2.33 2.45 -6.25 2.87 1.27 7.41 1.85 0.66
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
761 834 925 981 1,021 1,048 1,114 1,322 1,564 1,687 1,841 2,123 2,245
628 716 774 814 862 908 955 1,083 1,350 1,469 1,537 1,828 1,983
Operating Profit 132 119 151 167 159 141 160 239 215 217 304 296 262
OPM % 17% 14% 16% 17% 16% 13% 14% 18% 14% 13% 17% 14% 12%
12 25 10 12 13 21 -28 36 6 -8 5 -38 66
Interest 18 19 22 6 5 16 26 20 16 24 40 49 54
Depreciation 19 29 30 19 24 31 52 62 72 80 86 95 102
Profit before tax 109 94 110 153 143 115 54 194 132 104 183 114 173
Tax % 27% 26% 34% 31% 35% 24% 34% 26% -13% 40% 32% 36%
79 70 73 105 94 88 36 144 149 63 124 73 155
EPS in Rs 5,980.35 5.32 5.05 7.25 6.49 6.12 2.53 10.24 10.73 4.42 8.84 5.29 11.19
Dividend Payout % 19% 28% 30% 24% 27% 0% 38% 17% 7% 45% 8% 19%
Compounded Sales Growth
10 Years: 10%
5 Years: 14%
3 Years: 11%
TTM: 12%
Compounded Profit Growth
10 Years: 5%
5 Years: 11%
3 Years: -15%
TTM: -20%
Stock Price CAGR
10 Years: %
5 Years: 19%
3 Years: 18%
1 Year: -28%
Return on Equity
10 Years: 11%
5 Years: 11%
3 Years: 8%
Last Year: 8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 13 132 145 145 145 145 141 141 138 138 138 138 138
Reserves 467 368 571 667 712 719 683 810 875 926 1,074 1,134 1,191
212 252 85 74 172 342 365 518 698 620 666 832 889
169 187 201 187 246 222 277 405 568 518 502 556 587
Total Liabilities 861 939 1,003 1,073 1,275 1,427 1,466 1,874 2,279 2,202 2,381 2,660 2,805
251 274 227 296 352 462 472 741 959 914 933 953 1,052
CWIP 50 10 18 7 60 38 18 28 9 26 13 46 59
Investments 0 0 35 50 96 97 97 1 1 23 10 11 13
559 655 722 720 767 830 879 1,103 1,309 1,239 1,425 1,650 1,681
Total Assets 861 939 1,003 1,073 1,275 1,427 1,466 1,874 2,279 2,202 2,381 2,660 2,805

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
32 62 86 102 103 77 205 195 50 197 107 16
-62 -17 -77 -103 -162 -138 -42 -148 -134 -110 -84 -69
36 -7 -24 -16 28 49 -196 88 12 -175 8 99
Net Cash Flow 6 37 -14 -17 -31 -12 -33 135 -71 -88 32 46

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 86 85 90 81 99 99 104 103 108 95 97 87
Inventory Days 255 252 239 247 233 239 201 216 225 228 243 227
Days Payable 80 76 116 78 104 86 103 125 143 138 132 126
Cash Conversion Cycle 261 261 213 250 228 252 202 195 190 185 209 187
Working Capital Days 157 70 135 128 110 86 55 91 90 88 63 62
ROCE % 18% 14% 17% 19% 17% 12% 10% 15% 10% 8% 12% 10%

Shareholding Pattern

Numbers in percentages

2 Recently
Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
58.47% 58.65% 58.95% 58.95% 58.95% 58.95% 58.75% 55.63% 55.63% 55.48% 55.03% 54.87%
9.27% 9.30% 9.68% 8.33% 8.24% 8.86% 8.71% 9.40% 7.54% 7.22% 6.96% 7.36%
3.74% 2.78% 1.37% 1.42% 1.27% 0.27% 0.27% 2.26% 3.10% 3.44% 3.37% 5.69%
26.19% 26.92% 27.66% 31.28% 31.52% 31.92% 32.27% 32.72% 33.75% 33.87% 34.64% 32.08%
2.34% 2.34% 2.34% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
No. of Shareholders 45,60245,15544,88042,08641,94646,37946,91242,01445,63947,22950,45050,971

* 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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