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SH Kelkar & Company

S H Kelkar & Company Ltd

SHK NSE
₹131.20 +3.94 (+3.10%)
P/E
20.40
View as Markdown
MCP
Close 4 Nov 2026 ₹131.20 −85.45 −39.4% 1Y
Start ₹216.65

Key Fundamentals

MicrocapChemicals & PetrochemicalsChemicals

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
5.85%
Debt to Equity
0.76
EPS (TTM)
₹6.43
Book Value
₹102.59
Market Cap
—
P/E (TTM)
20.40
P/B
1.28
ROE
3.71%
Dividend Yield
0.79%
EBITDA
₹251 Cr
52W High
₹222.50
52W Low
₹111.98
Day Range
₹126.00 – ₹131.49
Volume
3,53,960

Peer Comparison

Commodities › Chemicals › Specialty Chemicals

SH Kelkar & Company peer comparison
Pidilite Industries
₹1,510.2058.04₹1,54,107 Cr13.721.42%23.90%31.00%₹15,399 Cr₹2,677 Cr
Gujarat Fluorochemicals
₹4,613.3083.76₹49,073 Cr6.040.07%7.82%9.64%₹5,303 Cr₹600 Cr
Navin Fluorine International
₹8,785.0057.03₹44,060 Cr10.100.09%19.60%21.00%₹3,634 Cr₹789 Cr
Deepak Nitrite
₹1,578.4027.48₹20,919 Cr3.320.49%9.82%11.40%₹8,575 Cr₹784 Cr
Aether Industries
₹1,540.7086.90₹20,030 Cr7.880.00%9.66%11.90%₹1,231 Cr₹235 Cr
Aarti Industries
₹447.5530.57₹15,838 Cr2.590.23%7.13%6.86%₹9,010 Cr₹531 Cr
Atul
₹5,156.5019.67₹14,827 Cr2.310.59%11.50%14.90%₹6,969 Cr₹788 Cr
SH Kelkar & Company (this company)
₹131.2020.40₹1,780 Cr1.280.79%3.71%5.85%₹2,450 Cr₹89 Cr
Median 8 companies₹1,559.5543.80₹20,474 Cr4.680.36%9.74%11.65%₹6,136 Cr₹692 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

50 Average

Data confidence 98/100

Category scores

Quality
61
Good
Returns, margins, earnings quality 22% weight
Valuation
57
Good
Cheap vs sector & own history 24% weight
Growth
50
Average
Sales & profit trajectory 9% weight
Financial Health
25
Poor
Solvency, leverage, coverage 9% weight
Momentum
26
Poor
Trend strength, vol-adjusted 12% weight
Ownership
50
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company's working capital requirements have reduced from 53.1 days to 38.0 days

Weaknesses

4
  • Company has a low return on equity of 7.23% over last 3 years.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.74.1 Cr.
  • Promoter holding has decreased over last 3 years: -4.08%

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1063
OscillatorsBearish261
Moving AveragesStrong Bearish802

Key readings

RSI (14)
45.90
Neutral
MACD (12,26,9)
−3.47
Bullish
SMA (50)
139.50
Bearish
SMA (200)
142.16
Bearish

As of

Analyst Rating

Based on 1 analysts
BUY100%

1 of 1 analyst rates Buy, 0 Hold, 0 Sell.

As of

BUY
1
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+9.86%
5Y+12.36%
3Y+11.97%
1Y+11.54%
TTM+9.77%

Net profit

Net profit growth by window
10Y−0.56%
5Y−13.68%
3Y+3.08%
1Y−5.48%
TTM−52.41%

Operating cash flow

Operating cash flow growth by window
10Y+11.83%
5Y+6.17%
3Y+10.11%
1YTiny base
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−6.10 pp
5Y−7.86 pp
3Y−2.64 pp
1Y−3.72 pp
TTM−2.54 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹981 Cr
Mar 2018₹1,021 Cr
Mar 2019₹1,048 Cr
Mar 2020₹1,114 Cr
Mar 2021₹1,322 Cr
Mar 2022₹1,564 Cr
Mar 2023₹1,687 Cr
Mar 2024₹1,930 Cr
Mar 2025₹2,123 Cr
Mar 2026₹2,368 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹105 Cr
Mar 2018₹94.00 Cr
Mar 2019₹88.00 Cr
Mar 2020₹36.00 Cr
Mar 2021₹144 Cr
Mar 2022₹149 Cr
Mar 2023₹63.00 Cr
Mar 2024₹124 Cr
Mar 2025₹73.00 Cr
Mar 2026₹69.00 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹306 Cr +21.9% vs FY26
Reported High Mean Low

Quarterly Results

₹ Cr
SHK quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
423
455
472
513
470
542
543
567
580
554
584
650
662
636
Expenses
355
384
396
424
392
462
480
494
507
502
528
589
575
557
Operating Profit
68
72
76
90
78
80
64
73
73
52
55
61
88
—
OPM %
16%
16%
16%
17%
17%
15%
12%
13%
13%
9%
9%
9%
13%
—
Other Income
2
2
2
0
−120
21
1
61
3
0.32
34
7
31
—
Interest
10
10
10.8
10
10
13
14
13
13
14
14
15
15
17
Depreciation
21
22
22.69
22.67
22
24
23
25
26
27
27
39
35
38
PBT
39
41
46
57
−74
64
28.26
97
37
12
49.79
13.65
69
27
Tax %
28%
27%
30%
42%
17%
38%
36%
−6%
30%
25%
33%
88%
34%
45%
Net Profit
28
30
32
33
−87
40
18
103
26
9
33
2
45
15
EPS (₹)
1.96
2.12
2.33
2.45
−6.25
2.87
1.27
7.41
1.85
0.66
2.36
0.13
3.28
—

Sep 2026: from the results filed on 2 Nov 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
SHK profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
834
925
981
1,021
1,048
1,114
1,322
1,564
1,687
1,930
2,123
2,368
2,450
Expenses
716
774
814
862
908
955
1,083
1,350
1,469
1,622
1,828
2,126
2,193
Operating Profit
119
151
167
159
141
160
239
215
217
308
296
242
256
OPM %
14%
16%
17%
16%
13%
14%
18%
14%
13%
16%
14%
10%
10%
Other Income
25
10
12
13
21
−28
36
6
−8
5
−38
45
74
Interest
19
22
6
5
16
26
20
16
24
41
49
56
57
Depreciation
29
30
19
24
31
52
62
72
80
89
95
119
128
PBT
94
110
153
143
115
54
194
132
104
182
114
112
145
Tax %
26%
34%
31%
35%
24%
34%
26%
−13%
40%
32%
36%
38%
—
Net Profit
70
73
105
94
88
36
144
149
63
124
73
69
89
EPS (₹)
5.32
5.05
7.25
6.49
6.12
2.53
10.24
10.73
4.42
8.84
5.29
5
6.43
Div. Payout %
28%
30%
24%
27%
0%
38%
17%
7%
45%
8%
19%
20%
—

Balance Sheet

₹ Cr
SHK balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
132
145
145
145
145
141
141
138
138
138
138
138
Reserves
368
571
667
712
719
683
810
875
926
1,074
1,134
1,223
Borrowings
252
85
74
172
342
365
518
698
620
666
832
1,029
Other Liabilities
187
201
187
246
222
277
405
568
518
502
556
493
Total Liabilities
939
1,003
1,073
1,275
1,427
1,466
1,874
2,279
2,202
2,381
2,660
2,884
Fixed Assets
274
227
296
352
462
472
741
959
914
933
953
1,182
CWIP
10
18
7
60
38
18
28
9
26
13
46
96
Investments
0
35
50
96
97
97
1
1
23
10
11
11
Other Assets
655
722
720
767
830
879
1,103
1,309
1,239
1,425
1,650
1,594
Total Assets
939
1,003
1,073
1,275
1,427
1,466
1,874
2,279
2,202
2,381
2,660
2,884

Cash Flow

₹ Cr
SHK cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
62
86
102
103
77
205
195
50
197
107
16
263
Investing
−17
−77
−103
−162
−138
−42
−148
−134
−110
−84
−69
−209
Financing
−7
−24
−16
28
49
−196
88
12
−175
8
99
−158
Net Cash Flow
37
−14
−17
−31
−12
−33
135
−71
−88
32
46
−104
Free Cash Flow
40
63
64
−17
−39
161
165
52
149
47
−80
60
CFO/EBITDA
76
84
89
87
81
146
87
52
109
54
24
135

Ratios

SHK financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
85
90
81
99
99
104
103
108
95
93
87
98
Inventory Days
252
239
247
233
239
201
216
225
228
231
227
182
Days Payable
76
116
78
104
86
103
125
143
138
125
127
91
Cash Conversion Cycle
261
213
250
228
252
202
195
190
185
199
188
189
Working Capital Days
70
135
128
110
86
55
91
90
88
60
62
38
ROCE %
14%
17%
19%
17%
12%
10%
15%
10%
8%
12%
10%
6%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view SH Kelkar & Company insights

65 extracted metrics across FY12–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 54.87%
  • Public 18.91%
  • Others 14.60%
  • DIIs 6.35%
  • FIIs 5.28%

8.30% of promoter holding pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: FIIs and Others. Not available separately for this quarter: the holding is recorded inside Others, so both are left blank rather than shown at a wrong split.

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about SH Kelkar & Company

What does S H Kelkar & Company Ltd do?
S H Kelkar and Company Limited is engaged in manufacture, supply and exports of fragrances and aroma ingredients 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.
Where is S H Kelkar & Company Ltd (SHK) listed?
S H Kelkar & Company Ltd trades as SHK on the NSE and under code 539450 on the BSE.
Which sector does S H Kelkar & Company Ltd belong to?
S H Kelkar & Company Ltd is classified under the Chemicals sector, in the Specialty Chemicals industry.
What is the PE ratio of S H Kelkar & Company Ltd?
S H Kelkar & Company Ltd trades at a PE ratio of 20.40 as of 4 Nov 2026, on earnings per share of ₹6.43, against a book value of ₹102.59 per share.
What is the 52-week high and low of S H Kelkar & Company Ltd?
Over the last 52 weeks S H Kelkar & Company Ltd has traded between ₹111.98 and ₹222.5 as of 4 Nov 2026.
Does S H Kelkar & Company Ltd pay dividends?
S H Kelkar & Company Ltd has a dividend yield of 0.79%.
What is the Return on Equity (ROE) of S H Kelkar & Company Ltd?
S H Kelkar & Company Ltd reported a return on equity of 3.71%. Its debt-to-equity ratio is 0.76.

Company Information

S H Kelkar and Company Limited is engaged in manufacture, supply and exports of fragrances and aroma ingredients 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.

Website keva.co.in
CEO Mr. Kedar Ramesh Vaze
Employees 635
Listed 16 Nov 2015
Face Value ₹10

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