SH Kelkar Releases Q3 & 9M FY26 Concall Transcript
S H Kelkar released its Q3 & 9M FY26 earnings call transcript. The company reported consolidated revenue of ₹1,718 crore for 9M FY26, a 10% YoY growth. Adjusted EBITDA margin was around 13%. The company is investing in global expansion, with plans for EUR 2-3 million in international operations and ₹70-80 crore in India over 12-18 months. The target is to reach 17% EBITDA margin within two years. An insurance claim of approximately ₹100 crore is expected within 6-12 months.
The announcement provides an update on the company's financial performance and future strategies, including investments and margin targets. This information is important for investors and analysts to assess the company's outlook.
The announcement is a transcript of a conference call, which is primarily informative. While the company discusses growth strategies and financial performance, there are no significant positive or negative surprises presented in the summary of the call.
S H Kelkar and Company Limited has released the transcript of their conference call for investors and analysts held on Monday, February 09, 2026, to discuss Q3 & 9M FY26 results. The transcript is available on the company's website.
During the call, the Whole-Time Director and Group CEO, Mr. Kedar Vaze, welcomed the new Group CFO, Mr. Jagdish Agarwal, highlighting his experience. Mr. Agarwal presented the financial performance for the 9 months ended FY26, with consolidated revenue of ₹1,718 crore, a 10% year-on-year growth despite a challenging environment. He noted that Q3 performance was softer due to a subdued environment and slower ramp-up in certain product categories. EBITDA margin was around 13% on an adjusted basis, excluding new growth investments and high insurance costs.
Key priorities for Mr. Agarwal include sharpening cash flow and balance sheet management, with potential near-term increases in debt due to strategic initiatives and capacity expansion. He also emphasized enhancing cash conversion and cost discipline. Mr. Vaze discussed investments aimed at positioning the company for future growth, particularly in global Fragrances and Flavours markets, including strengthening Creative Development Centres and expanding capacity in markets like the USA, U.K., and Europe. The company secured its first customer order in the U.S. during the quarter.
Regarding capital deployment, the company expects outflows of EUR 2-3 million for international operations and ₹70-80 crore for Indian facilities (Vashivali and Vanavate) over the next 12-18 months. US development center investments were around $1.5-2 million. The company anticipates its EBITDA margin to reach 17% over the next two years. The insurance claim for the fire incident is expected to be settled within 6-12 months, with an estimated receivable of around ₹100 crore. The company expects to normalize its EBITDA margin to 17% within two years, with gross margins also expected to improve progressively.
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S H Kelkar and Company Limited filed this with the NSE as a statutory disclosure, categorised under concall transcript released. 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.