S H Kelkar FY26 Revenue up 11.5% to ₹2,368 crore; Q4 Revenue up 14.6%
S H Kelkar reported FY26 revenue of ₹2,368 crore (up 11.5%) and Q4 FY26 revenue of ₹650 crore (up 14.6%). FY26 Adjusted EBITDA was ₹323 crore. The results include a ₹35 crore one-off sale. Management cited sustained demand and strategic investments for growth, while acknowledging rising raw material costs.
The revenue growth is significant, but the slight decline in EBITDA margins and the mention of rising raw material costs introduce some caution. The company's strategic focus on growth and cost management will be key factors.
The company reported healthy revenue growth for both the quarter and the full fiscal year, indicating positive business momentum. While EBITDA margins saw a slight dip, the overall revenue increase and management commentary on strategic growth initiatives suggest a positive outlook.
S H Kelkar and Company Limited (SHK) has announced its financial results for the quarter and financial year ended March 31, 2026. The company reported revenues from operations of ₹2,368 crore for FY26, an increase of 11.5% compared to ₹2,123 crore in FY25. For the fourth quarter of FY26, revenues from operations stood at ₹650 crore, up by 14.6% from ₹567 crore in Q4 FY25.
Adjusted EBITDA for FY26 was ₹323 crore, a slight decrease from ₹335 crore in FY25, with the adjusted EBITDA margin at 13.9% compared to 15.9% in the previous year. In Q4 FY26, Adjusted EBITDA was ₹83 crore, marginally higher than ₹82 crore in Q4 FY25, with the margin at 13.5% compared to 14.6%.
These results include a one-off sale of ₹35 crore as part of a portfolio optimization exercise. The company's Whole Time Director & CEO, Mr. Kedar Vaze, highlighted sustained demand, domestic business momentum, and stable European operations as key drivers for revenue growth. He also emphasized ongoing investments in capacity expansion and R&D.
Mr. Jagdish Agarwal, Group Chief Financial Officer, noted that while Q4 FY26 showed encouraging revenue growth, raw material prices are rising due to geopolitical developments. The company is implementing pricing measures and cost optimization to protect margins. Longer-term priorities include improving the cash conversion cycle, strengthening accruals, and reducing debt.
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S H Kelkar and Company Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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