S H Kelkar and Company Limited — PPTs, 08-02-2026: Investor Presentation

S H Kelkar reported steady business performance for the nine months ended December 31, 2025. Revenues from operations grew 10.4% year-on-year to ₹1,718 Cr. EBITDA stood at ₹182 Cr, with adjusted EBITDA at ₹240 Cr (14% margin). PBT before exceptional items was ₹63 Cr. The Flavour segment was a key growth driver, surging 37.9% to ₹177 Cr, fueled by strong international demand. Fragrance revenue also grew 8.9% to ₹1,488 Cr. Geographically, India and Rest of World (RoW) showed robust growth.

The company's strategy involves significant investments in global Creative Development Centres and capacity expansion to enhance innovation and customer engagement for long-term sustainable growth. A notable recent development is the US Creative Development Centre securing its first customer order, marking its entry into the largest global market. Management is committed to strengthening financial discipline, optimizing working capital, and improving cash conversion. While debt may increase in the near term due to ongoing strategic initiatives, benefits are expected to accrue progressively. EPS for 9M FY26 was ₹4.9.