S H Kelkar and Company Limited
₹125.70-₹4.65 (-3.6%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹2,311 Cr
- P/E
- 71.0x
- EV / EBITDA
- 14.6x
- Revenue
- ₹1,137 Cr
- Net margin
- 10.0%
- ROCE
- 15.9%
Price chart
Technical chartScreen technicals →-43.4% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -10.9%
- 3M
- -26.1%
- 6M
- -13.9%
- 1Y
- -43.4%
- 5Y
- -17.6%
52-week range
Day change -₹4.65 (-3.6%) from ₹130 to ₹126 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in SHK, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Strong 5-year net profit CAGR of 24.0%
Concerns1
- Negative free cash flow (₹191 Cr)
Rule-based from financial data. Not advice.
About the company
S H Kelkar and Company Limited, together with its subsidiaries, manufactures and supplies fragrances, flavors, and aroma ingredients in India. Its fragrances are used in personal care, fabric care, skin care, hair care, fine fragrances, and home care products, as well as flavors are used in baked, dairy, beverages, savoury, and pharmaceutical products.
Read moreShow less
S H Kelkar and Company Limited, together with its subsidiaries, manufactures and supplies fragrances, flavors, and aroma ingredients in India. Its fragrances are used in personal care, fabric care, skin care, hair care, fine fragrances, and home care products, as well as flavors are used in baked, dairy, beverages, savoury, and pharmaceutical products. The company is also involved in microbiology, biotechnology, cosmetic, custom synthesis, and cosmetic biotechnology research services. S H Kelkar and Company Limited markets its products under the SHK, Cobra, CFF, and Keva brand names to national and multi-national FMCG companies, blenders of fragrances and flavors, and its producers. The company exports its products. S H Kelkar and Company Limited was founded in 1922 and is based in Mumbai, India.
- Sector
- Consumer Staples
- Shares outstanding
- 13.8 Cr shares
- ISIN
- INE500L01026
- BSE code
- 539450
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹2,311 Cr
- P/E
- 71.0x
- P/B
- 3.2x
- EV / EBITDA
- 14.6x
- EV / Sales
- 2.4x
- P/S
- 2.5x
- Earnings yield
- 1.4%
- 52-week high
- ₹228.15
- 52-week low
- ₹112.00
Profitability
- Operating margin
- 14.2%
- Net margin
- 10.0%
- EBITDA margin
- 16.5%
- ROE
- 12.4%
- ROCE
- 15.9%
- ROA
- 7.8%
- Dividend payout
- 11.0%
- Tax rate
- 23.0%
- Other income, % of PBT
- 17.1%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹1,137 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 20.8%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 5.5%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹155 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 42.2%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -114.9%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 24.0%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹30.0 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -372.7%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹8.00 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 10.6%
Solvency and efficiency
- Current ratio
- 2.81
- Debt / Equity
- 0.11
- Debt / Assets
- 0.07
- Debt / EBITDA
- 0.54
- Interest coverage
- 19.14
- Financial leverage
- 1.58
- CFO / Net profit
- 0.32
- Cash / Market cap
- 28.8%
- Cash per share
- ₹48.42
- Asset turnover
- 0.78
- Fixed asset turnover
- 5.06
- Capital intensity
- 0.20
- Debtor days
- 66 days
- Inventory turnover
- 1.36
- Cash conversion cycle
- 143 days
Where the revenue went
FY2025 ended in a loss, so the lines are listed rather than drawn as a flow.
| Line | FY2025 |
|---|---|
| Sales | ₹1,137 Cr |
| Expenses | ₹1,055 Cr |
| Operating profit | ₹82 Cr |
| Other income | -₹55 Cr |
| Interest | ₹19 Cr |
| Depreciation | ₹26 Cr |
| Profit before tax | -₹18 Cr |
| Tax and other | -₹4 Cr |
| Net profit | -₹14 Cr |
Revenue and net profit
Revenue grew 20.8% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹761 Cr | ₹80 Cr |
| FY2022 | ₹807 Cr | ₹42 Cr |
| FY2023 | ₹880 Cr | ₹52 Cr |
| FY2024 | ₹941 Cr | ₹94 Cr |
| FY2025 | ₹1,137 Cr | -₹14 Cr |
Cash flows
FY2025: -₹13.0 Cr from operations, -₹191 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹84 Cr | ₹19 Cr |
| FY2022 | ₹84 Cr | ₹94 Cr |
| FY2023 | -₹11 Cr | -₹35 Cr |
| FY2024 | ₹30 Cr | ₹10 Cr |
| FY2025 | -₹13 Cr | -₹191 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹1,137 Cr+20.8%1Y
- Net profit
- -₹14 Cr-114.9%1Y
- Cash from operations
- -₹13 Cr
- Free cash flow
- -₹191 Cr-2,010.0%1Y
- Revenue CAGR, 5Y
- 5.5%
- EBITDA CAGR, 5Y
- 13.3%
- Net profit CAGR, 5Y
- 24.0%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹1,137 Cr | ₹82 Cr | — | -₹14 Cr | -₹13 Cr | -₹191 Cr | -1.9% | +20.8% | -114.9% |
Monthly returns
Month-by-month returns of SHK across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹1,439 Cr |
| Equity capital | ₹138 Cr |
| Reserves | ₹595 Cr |
| Borrowings | ₹326 Cr |
| Other liabilities | ₹380 Cr |
| Assets | ₹1,439 Cr |
| Fixed assets | ₹190 Cr |
| Capital work in progress | ₹23 Cr |
| Investments | ₹502 Cr |
| Other assets | ₹724 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
SHK trades at 71.0x earnings against a peer median of 44.5x (a 60% premium).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| S H Kelkar and Company LimitedSHKthis companyP/E ↑ premium | ₹2,311 Cr | 71.0x | 3.2x | 12.4% | 14.6x |
| Bannari Amman Sugars Ltd.BANARISUG | ₹4,515 Cr | 37.0x | 2.5x | 9.0% | 15.2x |
| VST Industries Ltd.VSTIND | ₹4,105 Cr | 18.5x | 3.3x | 24.1% | 9.0x |
| Gopal Snacks LimitedGOPAL | ₹4,056 Cr | 160.0x | 9.3x | 25.6% | 23.6x |
| BAJAJ CONSUMER CARE LIMITEDBAJAJCON | ₹3,706 Cr | 26.3x | 5.4x | 18.4% | 18.1x |
| CIAN Agro Industries & Infrastructure LimitedCIAN AGRO | ₹3,555 Cr | 1751.0x | 38.5x | 5.6% | 116.3x |
| Vadilal Industries Ltd.VADILAL | ₹3,287 Cr | 35.3x | 6.0x | 25.1% | 20.4x |
| Globus Spirits LimitedGLOBUSSPR | ₹2,920 Cr | 36.7x | 2.8x | 10.0% | 16.8x |
| SUNDROP BRANDS LIMITEDSUNDROP | ₹2,536 Cr | 62.0x | 1.7x | 2.0% | 70.0x |
| Peer median | — | 44.5x | 7.0x | 14.2% | 25.9x |
Year-to-date ROI
SHK since 1 January, against earlier years.
Historical volatility
SHK's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 13.0% |
| FY2022 | 11.0% |
| FY2023 | 14.0% |
| FY2024 | 14.0% |
| FY2025 | 7.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹1,137 Cr |
| Costs | |
| Interest | ₹19 Cr |
| Expenses | ₹1,055 Cr |
| Operating profitOperating Profit | ₹82 Cr |
| Other income and charges | |
| Profit before tax | -₹18 Cr |
| Tax | |
| Net profitNet Profit | -₹14 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹1,439 Cr |
| Equity capitalEquity Capital | ₹138 Cr |
| Reserves | ₹595 Cr |
| Borrowings | ₹326 Cr |
| Other liabilitiesOther Liabilities | ₹380 Cr |
| AssetsTotal Assets | ₹1,439 Cr |
| Fixed assetsFixed Assets | ₹190 Cr |
| Capital work in progressCWIP | ₹23 Cr |
| Investments | ₹502 Cr |
| Other assetsOther Assets | ₹724 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | -₹13 Cr |
| Investing cash flowCash from Investing Activity | -₹178 Cr |
| Financing cash flowCash from Financing Activity | ₹182 Cr |
| Change in cashNet Cash Flow | -₹8 Cr |
Learn while you research
Academy chapters picked for S H Kelkar and Company Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 71.0, learn when high multiples are justified.6 min read
- 04 Growth Investing21% revenue growth is in the top tier, learn how to value growth.7 min read
- 05 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 06 Cyclical vs Defensive StocksConsumer staples behave defensively across the business cycle.6 min read