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Latest: S H Kelkar & Company Ltd Q2 FY27 (Jul–Sep 2026) results →This page is Q3 FY26 (Oct–Dec 2025).All Q3 FY26 results →
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S H Kelkar & Company Ltd

Q3 FY26Chemicals & Petrochemicals

S H Kelkar & Company Q3 FY26 earnings call: Revenue & Margins

Q3 FY26 earnings call: what management said on revenue, margins and capex.

Price₹157
Market cap₹2.4K Cr
P/E50.0
Updated23 Aug 2026
Read4 min read

S H Kelkar & Company Ltd Q3 FY26 key numbers

Revenue
Additional capacity in Southeast Asia (3,600 tons) is expected to add 5-7 million in turnover sales.

As stated in S H Kelkar & Company Ltd's Q3 FY26 earnings call transcript · published 14 Jun 2026. Reported figures, not investment advice.

The short version

The company targets a 12% year-on-year CAGR growth with FY '24-'25 as the base year. Flavours EBIT margins expected to remain steady at 20%-22% through FY27-FY28.

From S H Kelkar & Company Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • The company targets a 12% year-on-year CAGR growth with FY '24-'25 as the base year.
  • Additional capacity in Southeast Asia (3,600 tons) is expected to add 5-7 million in turnover sales.
  • European capacity catering to €50 million is about 90% utilized; plans to increase capacity by 1.5x soon to support aggressive growth in Europe.
  • India has current capacity of ~20,000 tons with expansions adding 9,000 tons in Q1 next year and another 15,000 tons thereafter, indicating strong growth headroom.
  • Strong double-digit growth is seen in Middle East, Africa, Central Asia, and Southeast Asia markets.
  • U.S. market initiatives are beginning to generate orders, with business expected to grow from Q4 this year and into FY '29.

2 more points from S H Kelkar & Company Ltd's call on revenue

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Profitability & Margins

See what S H Kelkar & Company Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Europe: Committed EUR 7-8 million capex, mostly done; expects another EUR 2-3 million outflow in next 6-12 months. New factory expected operational by Q4 FY26, expanding capacity 1.5x from current 90% utilization.
  • India: Capex of Rs. 70-80 crore over next 12-18 months focused on rebuilding facilities (Vashivali and Vanavate) post-fire and new expansions; adding 9,000 tons capacity in Q1 FY27 and further 15,000 tons later.
  • U.S.: Investment primarily opex for leased manufacturing and creative development centres (~$1.5-2 million invested); expecting $2-2.5 million business by end of next year. Minimal capex as manufacturing is operational lease-based.

2 more points from S H Kelkar & Company Ltd's call on capex

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Top-ranked in Chemicals & Petrochemicals

Ranked on what management guided this quarter

Guidance-ranked
1Shiv Texchem
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2Yasho Industries
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3
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4
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5
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

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Order Book & Pipeline

  • It mentions that the U.S. Creative Development Centre secured its first customer order, with execution expected from Q4 this year to Q1 next year.
  • European business showed 3% YoY growth in euro terms this quarter, indicating healthy demand.
  • The company is seeing green shoots and new business opportunities in the U.S., Europe, U.K., Middle East, and Southeast Asia.
  • There is some softness in demand in India post-GST changes, but the company expects sales momentum to recover shortly.

2 more points from S H Kelkar & Company Ltd's call on order book

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S H Kelkar & Company Ltd — Quarterly revenue & net profit

Revenue Net profit
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹650 Cr, net profit ₹2 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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Frequently Asked Questions

What were S H Kelkar & Company Ltd Q3 FY26 results?

The company targets a 12% year-on-year CAGR growth with FY '24-'25 as the base year. Flavours EBIT margins expected to remain steady at 20%-22% through FY27-FY28.

What is S H Kelkar & Company Ltd share price analysis?

S H Kelkar & Company Ltd currently shows a neutral. The stock trades at a P/E of 50.0 with a market cap of ₹2,363 Cr. Investors should review the full earnings analysis for detailed insights.

Is S H Kelkar & Company Ltd planning capital expenditure?

Europe: Committed EUR 7-8 million capex, mostly done; expects another EUR 2-3 million outflow in next 6-12 months.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.