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

₹ 230 -1.01%
21 May 2:26 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
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 ₹ 3,185 Cr.
  • Current Price ₹ 230
  • High / Low ₹ 336 / 142
  • Stock P/E 29.6
  • Book Value ₹ 91.9
  • Dividend Yield 0.33 %
  • ROCE 11.3 %
  • ROE 8.66 %
  • Face Value ₹ 10.0
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Pros

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

Cons

  • Stock is trading at 2.53 times its book value
  • Company has a low return on equity of 8.77% 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

Sector: Chemicals Industry: Chemicals

Part of BSE SmallCap BSE Allcap BSE Commodities

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
451 415 414 385 472 423 455 472 513 470 542 543 567
391 360 363 341 405 355 384 396 424 392 462 480 494
Operating Profit 60 55 52 43 67 68 72 76 90 78 80 64 73
OPM % 13% 13% 12% 11% 14% 16% 16% 16% 17% 17% 15% 12% 13%
3 1 9 2 -20 2 2 2 -0 -120 21 1 61
Interest 5 5 5 6 7 10 10 10 10 10 13 14 13
Depreciation 20 20 20 20 21 21 22 22 22 22 24 23 25
Profit before tax 37 31 35 19 19 39 41 46 57 -74 64 27 97
Tax % 64% 26% 28% 29% 94% 28% 27% 30% 42% 17% 38% 36% -6%
14 23 25 13 1 28 30 32 33 -87 40 18 103
EPS in Rs 0.90 1.56 1.75 0.94 0.17 1.96 2.12 2.33 2.45 -6.25 2.87 1.27 7.41
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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
761 834 925 981 1,021 1,048 1,114 1,322 1,564 1,687 1,930 2,123
628 716 774 814 862 908 955 1,083 1,350 1,469 1,622 1,828
Operating Profit 132 119 151 167 159 141 160 239 215 217 308 296
OPM % 17% 14% 16% 17% 16% 13% 14% 18% 14% 13% 16% 14%
12 25 10 12 13 21 -28 36 6 -8 5 -38
Interest 18 19 22 6 5 16 26 20 16 24 41 49
Depreciation 19 29 30 19 24 31 52 62 72 80 89 95
Profit before tax 109 94 110 153 143 115 54 194 132 104 182 114
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
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
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: 10%
Compounded Profit Growth
10 Years: 6%
5 Years: 13%
3 Years: -12%
TTM: -13%
Stock Price CAGR
10 Years: %
5 Years: 36%
3 Years: 20%
1 Year: 17%
Return on Equity
10 Years: 11%
5 Years: 11%
3 Years: 9%
Last Year: 9%

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
Equity Capital 13 132 145 145 145 145 141 141 138 138 138 138
Reserves 467 368 571 667 712 719 683 810 875 926 1,074 1,134
212 252 85 74 172 342 365 518 698 620 666 832
169 187 201 187 246 222 277 405 568 518 502 581
Total Liabilities 861 939 1,003 1,073 1,275 1,427 1,466 1,874 2,279 2,202 2,381 2,685
251 274 227 296 352 462 472 741 959 914 933 960
CWIP 50 10 18 7 60 38 18 28 9 26 13 39
Investments 0 0 35 50 96 97 97 1 1 23 10 11
559 655 722 720 767 830 879 1,103 1,309 1,239 1,425 1,675
Total Assets 861 939 1,003 1,073 1,275 1,427 1,466 1,874 2,279 2,202 2,381 2,685

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 -72
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 43

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 93 87
Inventory Days 255 252 239 247 233 239 201 216 225 228 231 230
Days Payable 80 76 116 78 104 86 103 125 143 138 125 128
Cash Conversion Cycle 261 261 213 250 228 252 202 195 190 185 199 189
Working Capital Days 157 146 152 148 152 178 149 143 157 145 147 164
ROCE % 18% 14% 17% 19% 17% 12% 10% 15% 10% 8% 12% 11%

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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