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S H Kelkar & Company Ltd

Q4 FY25Chemicals & Petrochemicals

S H Kelkar & Company Q4 FY25 earnings call: Revenue & Margins

Q4 FY25 earnings call: what management said on revenue, margins and capex.

Price₹157
Market cap₹2.4K Cr
P/E50.0
Updated23 Aug 2026
Read5 min read

The short version

The company targets a 12%+ CAGR sales growth for FY26, driven by existing markets in Europe, India, and Southeast Asia, as well as new geographies like Middle East and the U.S. Revenue Growth: Company projects a 12-15% CAGR growth for FY26, driven by both existing and new clients across India, Middle East, Southeast Asia, and Europe.

From S H Kelkar & Company Ltd's Q4 FY25 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • The company targets a 12%+ CAGR sales growth for FY26, driven by existing markets in Europe, India, and Southeast Asia, as well as new geographies like Middle East and the U.S.
  • Flavours division expects a strong, robust growth of around 15% CAGR, including contributions from existing and new clients.
  • Fragrance division anticipates 12% growth guided for the coming year, with steady contributions from global MNC accounts and new business wins.
  • Incremental growth from new overseas centres (Germany, USA, UK) is projected, aiming for Rs. 50-60 crore new business annually from these centres, cumulatively Rs. 250-300 crore over three years.
  • Global Ingredient business sees good emerging opportunities due to China plus One strategy and favorable global export trends.

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

  • Ongoing rebuilding of the Vashivali Fragrance facility expected to be commissioned within the current financial year; fully insured with related claims ongoing.
  • Construction of a new Greenfield facility at Vanavate slated for commissioning later this calendar year; proximity to Vashivali site to enable operational synergies and better inventory management.
  • Additional factory being built in parallel with the rebuilding of Vashivali due to a major incident; plans to close Mulund operations faster to offset CAPEX with OPEX savings.
  • Approximately Rs. 200 crore of CAPEX planned over the next two years, partly for reconstruction and capacity expansion.
  • New facility investment in Europe, including Germany and Manchester, with a CAPEX of around €6-7 million (~Rs. 60-70 crore) expected this year.

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
Rev 1Mar 2
2Yasho Industries
Rev 1Mar 3
3
Rev 1Mar 3
4
Rev 1Mar 3
5
Rev 1Mar 3
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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

  • The company does not have many long-term contracts but has good visibility based on client behavior and business growth in the past year.
  • To achieve the FY26 growth guidance of 12%, the company expects to secure 7-8% new business wins, consistent with past performance.
  • New wins and a robust pipeline of RFQs (Request for Quotations) are in progress, with some small wins already moving from development to commercial discussions.
  • The global MNC consumer fragrance business achieved roughly $10 million sales last year and continues to gain traction.

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 Q4 FY25 results?

The company targets a 12%+ CAGR sales growth for FY26, driven by existing markets in Europe, India, and Southeast Asia, as well as new geographies like Middle East and the U.S. Revenue Growth: Company projects a 12-15% CAGR growth for FY26, driven by both existing and new clients across India, Middle East, Southeast Asia, and Europe.

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?

Ongoing rebuilding of the Vashivali Fragrance facility expected to be commissioned within the current financial year; fully insured with related claims ongoing. - Construction of a new Greenfield facility at Vanavate slated for commissioning later this calendar year; proximity to Vashivali site to enable operational synergies and better inventory management. - Additional factory being built in parallel with the rebuilding of Vashivali due to a major incident; plans to close Mulund operations faster to offset CAPEX with OPEX savings. - Approximately Rs.

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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.