S H Kelkar & Company Ltd
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.
- Market Cap ₹ 4,524 Cr.
- Current Price ₹ 327
- High / Low ₹ 330 / 129
- Stock P/E 40.0
- Book Value ₹ 87.6
- Dividend Yield 0.22 %
- ROCE 12.5 %
- ROE 10.8 %
- Face Value ₹ 10.0
Pros
- Company has been maintaining a healthy dividend payout of 20.2%
Cons
- Stock is trading at 3.65 times its book value
- Company has a low return on equity of 11.0% 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
666 | 761 | 834 | 925 | 981 | 1,021 | 1,048 | 1,114 | 1,322 | 1,564 | 1,687 | 1,930 | 1,935 | |
546 | 628 | 716 | 774 | 814 | 862 | 908 | 955 | 1,083 | 1,350 | 1,469 | 1,622 | 1,619 | |
Operating Profit | 119 | 132 | 119 | 151 | 167 | 159 | 141 | 160 | 239 | 215 | 217 | 308 | 316 |
OPM % | 18% | 17% | 14% | 16% | 17% | 16% | 13% | 14% | 18% | 14% | 13% | 16% | 16% |
-1 | 12 | 25 | 10 | 12 | 13 | 21 | -28 | 36 | 6 | -8 | 5 | -116 | |
Interest | 23 | 18 | 19 | 22 | 6 | 5 | 16 | 26 | 20 | 16 | 24 | 41 | 41 |
Depreciation | 17 | 19 | 29 | 30 | 19 | 24 | 31 | 52 | 62 | 72 | 80 | 89 | 90 |
Profit before tax | 79 | 109 | 94 | 110 | 153 | 143 | 115 | 54 | 194 | 132 | 104 | 182 | 70 |
Tax % | 31% | 27% | 26% | 34% | 31% | 35% | 24% | 34% | 26% | -13% | 40% | 32% | |
62 | 79 | 70 | 73 | 105 | 94 | 88 | 36 | 144 | 149 | 63 | 124 | 9 | |
EPS in Rs | 5,134.66 | 5,980.35 | 5.32 | 5.05 | 7.25 | 6.49 | 6.12 | 2.53 | 10.24 | 10.73 | 4.42 | 8.84 | 0.64 |
Dividend Payout % | 13% | 19% | 28% | 30% | 24% | 27% | 0% | 38% | 17% | 7% | 45% | 8% |
Compounded Sales Growth | |
---|---|
10 Years: | 10% |
5 Years: | 13% |
3 Years: | 13% |
TTM: | 14% |
Compounded Profit Growth | |
---|---|
10 Years: | 5% |
5 Years: | 7% |
3 Years: | -2% |
TTM: | 66% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 20% |
3 Years: | 27% |
1 Year: | 116% |
Return on Equity | |
---|---|
10 Years: | 11% |
5 Years: | 11% |
3 Years: | 11% |
Last Year: | 11% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 12 | 13 | 132 | 145 | 145 | 145 | 145 | 141 | 141 | 138 | 138 | 138 |
Reserves | 460 | 467 | 368 | 571 | 667 | 712 | 719 | 683 | 810 | 875 | 926 | 1,074 |
152 | 212 | 252 | 85 | 74 | 172 | 342 | 365 | 518 | 698 | 620 | 666 | |
147 | 169 | 187 | 201 | 187 | 246 | 222 | 277 | 405 | 568 | 518 | 502 | |
Total Liabilities | 770 | 861 | 939 | 1,003 | 1,073 | 1,275 | 1,427 | 1,466 | 1,874 | 2,279 | 2,202 | 2,381 |
210 | 251 | 274 | 227 | 296 | 352 | 462 | 472 | 741 | 959 | 914 | 933 | |
CWIP | 43 | 50 | 10 | 18 | 7 | 60 | 38 | 18 | 28 | 9 | 26 | 13 |
Investments | 41 | 0 | 0 | 35 | 50 | 96 | 97 | 97 | 1 | 1 | 23 | 10 |
476 | 559 | 655 | 722 | 720 | 767 | 830 | 879 | 1,103 | 1,309 | 1,239 | 1,425 | |
Total Assets | 770 | 861 | 939 | 1,003 | 1,073 | 1,275 | 1,427 | 1,466 | 1,874 | 2,279 | 2,202 | 2,381 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
103 | 32 | 62 | 86 | 102 | 103 | 77 | 205 | 195 | 50 | 197 | 107 | |
-33 | -62 | -17 | -77 | -103 | -162 | -138 | -42 | -148 | -134 | -110 | -84 | |
-61 | 36 | -7 | -24 | -16 | 28 | 49 | -196 | 88 | 12 | -175 | 8 | |
Net Cash Flow | 9 | 6 | 37 | -14 | -17 | -31 | -12 | -33 | 135 | -71 | -88 | 32 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 94 | 86 | 85 | 90 | 81 | 99 | 99 | 104 | 103 | 108 | 95 | 93 |
Inventory Days | 234 | 255 | 252 | 239 | 247 | 233 | 239 | 201 | 216 | 225 | 228 | 231 |
Days Payable | 77 | 80 | 76 | 116 | 78 | 104 | 86 | 103 | 125 | 143 | 138 | 125 |
Cash Conversion Cycle | 252 | 261 | 261 | 213 | 250 | 228 | 252 | 202 | 195 | 190 | 185 | 199 |
Working Capital Days | 156 | 157 | 146 | 152 | 148 | 152 | 178 | 149 | 143 | 157 | 145 | 147 |
ROCE % | 17% | 18% | 14% | 17% | 19% | 17% | 12% | 10% | 15% | 10% | 8% | 12% |
Documents
Announcements
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Business Update - Q2 FY 2024-25
4 Oct - Q2 FY2025 business update with revenue growth.
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Closure of Trading Window
27 Sep - Closure of trading window from October 1, 2024.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 13 Sep
- Shareholder Meeting / Postal Ballot-Scrutinizer''s Report 23 Aug
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Shareholder Meeting / Postal Ballot-Outcome of AGM
22 Aug - Summary of 68th Annual General Meeting proceedings.
Annual reports
Concalls
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Aug 2024Transcript PPT
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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Jun 2023Transcript PPT
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Feb 2023TranscriptPPT
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Feb 2023Transcript PPT
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Feb 2023TranscriptNotesPPT
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Nov 2022Transcript PPT
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Oct 2022TranscriptNotesPPT
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Aug 2022Transcript PPT
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Jun 2022Transcript PPT
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Feb 2022Transcript PPT
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Nov 2021Transcript PPT
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Aug 2021Transcript PPT
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Jul 2021TranscriptNotesPPT
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Jun 2021Transcript PPT
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Feb 2021Transcript PPT
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Dec 2020Transcript PPT
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Nov 2020TranscriptNotesPPT
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Sep 2020TranscriptPPT
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Sep 2020Transcript PPT
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Jul 2020TranscriptPPT
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May 2020TranscriptNotesPPT
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Feb 2020Transcript PPT
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Nov 2019Transcript PPT
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Sep 2019Transcript PPT
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Jun 2019TranscriptPPT
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May 2019TranscriptNotesPPT
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Feb 2019Transcript PPT
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Dec 2018Transcript PPT
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Sep 2018Transcript PPT
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Aug 2018TranscriptNotesPPT
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Jun 2018Transcript PPT
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Feb 2018TranscriptPPT
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Jan 2018Transcript PPT
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Nov 2017TranscriptPPT
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Oct 2017TranscriptNotesPPT
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Sep 2017Transcript PPT
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Jun 2017TranscriptPPT
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Mar 2017Transcript PPT
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Nov 2016Transcript PPT
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Sep 2016TranscriptPPT
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Aug 2016TranscriptNotesPPT
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Jun 2016Transcript PPT
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Mar 2016TranscriptPPT
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]