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

₹ 206 -1.53%
26 Apr - 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 ₹ 2,851 Cr.
  • Current Price ₹ 206
  • High / Low ₹ 232 / 103
  • Stock P/E 30.4
  • Book Value ₹ 82.5
  • Dividend Yield 0.97 %
  • ROCE 8.04 %
  • ROE 6.66 %
  • Face Value ₹ 10.0
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Pros

  • Company has been maintaining a healthy dividend payout of 23.1%

Cons

  • The company has delivered a poor sales growth of 10.6% over past five years.
  • Company has a low return on equity of 12.3% 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
378 397 356 359 399 451 415 414 385 472 445 455 496
311 330 314 305 340 391 360 363 341 405 375 384 419
Operating Profit 67 67 41 54 59 60 55 52 43 67 70 72 77
OPM % 18% 17% 12% 15% 15% 13% 13% 12% 11% 14% 16% 16% 15%
5 8 3 -5 4 3 1 9 2 -20 1 2 2
Interest 4 4 3 4 4 5 5 5 6 7 10 10 11
Depreciation 17 18 17 17 17 20 20 20 20 21 22 22 23
Profit before tax 51 53 24 27 43 37 31 35 19 19 39 41 46
Tax % 31% 25% -233% 19% 25% 64% 26% 28% 29% 94% 29% 27% 29%
35 40 81 22 32 14 23 25 13 1 28 30 32
EPS in Rs 2.50 2.84 5.76 1.57 2.29 0.90 1.56 1.75 0.94 0.17 1.97 2.12 2.32
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
569 666 761 834 925 981 1,021 1,048 1,114 1,322 1,564 1,687 1,869
465 546 628 716 774 814 862 908 955 1,083 1,350 1,469 1,583
Operating Profit 104 119 132 119 151 167 159 141 160 239 215 217 286
OPM % 18% 18% 17% 14% 16% 17% 16% 13% 14% 18% 14% 13% 15%
6 -1 12 25 10 12 13 21 -28 36 6 -8 -16
Interest 29 23 18 19 22 6 5 16 26 20 16 24 38
Depreciation 17 17 19 29 30 19 24 31 52 62 72 80 87
Profit before tax 63 79 109 94 110 153 143 115 54 194 132 104 145
Tax % 33% 31% 27% 26% 34% 31% 35% 24% 34% 26% -13% 40%
42 62 79 70 73 105 94 88 36 144 149 63 91
EPS in Rs 7,533.72 5,134.66 5,980.35 5.32 5.05 7.25 6.49 6.12 2.53 10.24 10.73 4.42 6.58
Dividend Payout % 0% 13% 19% 28% 30% 24% 27% 0% 38% 17% 7% 45%
Compounded Sales Growth
10 Years: 10%
5 Years: 11%
3 Years: 15%
TTM: 12%
Compounded Profit Growth
10 Years: 1%
5 Years: -7%
3 Years: 6%
TTM: 30%
Stock Price CAGR
10 Years: %
5 Years: 7%
3 Years: 14%
1 Year: 79%
Return on Equity
10 Years: 12%
5 Years: 11%
3 Years: 12%
Last Year: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 264 460 467 368 571 667 712 719 683 810 875 926 1,003
Preference Capital 102 0 1 9 0 0 0 0 0 0 0 0
231 152 211 243 85 74 172 342 365 518 698 620 657
206 147 170 196 201 187 246 222 277 405 568 518 571
Total Liabilities 706 770 861 939 1,003 1,073 1,275 1,427 1,466 1,874 2,279 2,202 2,369
206 210 251 274 227 296 352 462 472 741 959 914 885
CWIP 28 43 50 10 18 7 60 38 18 28 9 26 28
Investments 33 41 0 0 35 50 96 97 97 1 1 23 65
438 476 559 655 722 720 767 830 879 1,103 1,309 1,239 1,391
Total Assets 706 770 861 939 1,003 1,073 1,275 1,427 1,466 1,874 2,279 2,202 2,369

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
73 103 32 62 86 102 103 77 205 195 50 197
-37 -33 -62 -17 -77 -103 -162 -138 -42 -148 -134 -110
-57 -61 36 -7 -24 -16 28 49 -196 88 12 -175
Net Cash Flow -21 9 6 37 -14 -17 -31 -12 -33 135 -71 -88

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 94 86 85 90 81 99 99 104 103 108 95
Inventory Days 283 234 255 252 239 247 233 239 201 216 225 228
Days Payable 59 77 80 76 116 78 104 86 103 125 143 138
Cash Conversion Cycle 307 252 261 261 213 250 228 252 202 195 190 185
Working Capital Days 192 156 157 146 152 148 152 178 149 143 157 145
ROCE % 16% 17% 18% 14% 17% 19% 17% 12% 10% 15% 10% 8%

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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