S H Kelkar Q1 FY27: Revenue Up 14% to ₹662 Crore, EBITDA Grows 21%
S H Kelkar's Q1 FY27 revenue rose 14% to ₹662 crore, with EBITDA up 21% to ₹89 crore. The company is investing in R&D and manufacturing, with a net debt of ₹852 crore. Exceptional income of ₹30 crore was recognized from an insurance claim. Double-digit revenue growth and improved margins are expected for FY27.
The results show solid growth and improved profitability, with strategic investments for the future. While positive, the impact is moderate as it reflects a single quarter's performance and the company acknowledges ongoing environmental caution. The increase in net debt also tempers the immediate impact.
The company reported a 14% year-on-year revenue growth and a 21% increase in EBITDA, along with improved margins, indicating a positive financial performance. Strategic investments for future growth and a positive outlook for the full year also contribute to the positive sentiment.
S H Kelkar and Company Limited reported a strong Q1 FY27 with consolidated revenue from operations growing 14% year-on-year to ₹662 crore. The Fragrance segment saw healthy growth driven by Europe and select international markets, while the Flavour segment achieved strong broad-based growth across geographies. Consolidated EBITDA increased by 21% to ₹89 crore, with EBITDA margins improving to 13.4% from 12.6% in the corresponding quarter last year, benefiting from operating leverage on a higher revenue base.
The company has begun the year with sustained solid performance and encouraging revenue growth, accompanied by an improvement in operating profitability. Despite geopolitical developments contributing to volatility in energy, freight, and trade, the fundamental demand drivers in personal care, home care, and food categories remain intact and continue to grow. S H Kelkar is making strategic investments in R&D, Creative Development Centers, and manufacturing capabilities to anticipate evolving consumer preferences and build durable, differentiated positions.
Net debt increased by ₹65 crore to ₹852 crore as of June 2026, reflecting strategic inventory buildup for supply security and continued capital deployment towards capacity expansion. The company recognized exceptional income of approximately ₹30 crore towards an insurance claim related to a fire incident, with full settlement expected within the current financial year.
Looking ahead to FY27, the company anticipates delivering double-digit revenue growth and improved margins for the full year, while remaining focused on balancing growth with financial discipline. The company also noted that the Vanvate factory is expected to be operational in Q3, with bulk of investment capex for India Fragrance projects expected before the end of Q2.
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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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See the model portfoliosA plain-language summary of a public exchange filing by S H Kelkar and Company Limited. Read the original for the full detail.