sh kelkar & company reported consolidated revenues of Rs. 660 crore for the quarter ended June 30, 2026, reflecting a growth of 13.7% compared to the corresponding quarter of the previous year. The company, the largest Indian origin Fragrance and Flavours Company in India, noted that gross margins remained stable during the period. As of June 30, 2026, net debt stood at Rs. 864 crore, attributed to planned investments in capacity and capabilities, along with strategic inventory build-up to support business continuity in a fluid operating environment. The financial information is based on provisional and unaudited consolidated financial results, subject to limited review by the Statutory Auditors of the Company.

Q1 FY2027 Financial Highlights

The following table summarises the key financial metrics reported by S H Kelkar for Q1 FY2027:

The 13.7% revenue growth reflects the company's ability to scale its consolidated business operations during the quarter. The net debt of Rs. 864 crore has been characterised as a reflection of planned investments in capacity and strategic inventory build-up, indicating that the capital deployment is aligned with the company's strategic expansion agenda.

Net Debt and Capacity Investments

S H Kelkar's net debt position of Rs. 864 crore as of June 30, 2026, is directly linked to its ongoing capacity investment programme. The company has indicated that this debt level is a planned outcome of its capital expenditure activities and inventory management, rather than a result of operational stress. Such investments are aimed at strengthening production infrastructure to support future revenue growth.

Key Takeaways

• Consolidated revenues stood at Rs. 660 crore in Q1 FY2027
• Year-on-year revenue growth of 13.7% recorded for the quarter
• Gross margins remained stable during the period
• Net debt of Rs. 864 crore reflects planned capacity investments and inventory build-up

S H Kelkar & Company Limited has scheduled its 70th Annual General Meeting (AGM) for Friday, July 31, 2026, at 4:30 p.m. IST through Video Conferencing (VC) and Other Audio Visual Means (OAVM). The meeting will transact business including the adoption of financial statements, the appointment of Statutory Auditors, and the re-appointment of Directors. The company reported a steady financial performance for the financial year ended March 31, 2026, with consolidated total income increasing by 11% to ₹ 2,377.8 crores from ₹ 2,147.3 crores in the previous year.

In compliance with Regulation 36(1)(b) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has informed shareholders who have not registered their e-mail addresses that the Annual Report for FY 2025-26 and the Notice of the 70th AGM are accessible via a specific web-link on the company’s website. The documents are also available on the websites of BSE Limited, National Stock Exchange of India Limited, and Central Depository Services (India) Limited (CDSL).

The company has engaged CDSL as the authorised e-voting agency. Remote e-voting will commence on Monday, July 27, 2026, at 9:00 am IST and conclude on Thursday, July 30, 2026, at 5:00 pm IST. Members holding shares as of the cut-off date, Friday, July 24, 2026, are entitled to vote. Members who cast their vote by remote e-voting prior to the AGM may attend the meeting but shall not be entitled to cast their vote again.

Financial Performance

The Fragrance division recorded a growth of 10.4% during the year, with revenue reaching ₹ 2,052 crores from ₹ 1,859 crores. The Flavours business reported robust growth, with revenue increasing by 30% to ₹ 240 crores from ₹ 185 crores. The ingredients business faced softer performance due to geopolitical headwinds. EBITDA stood at ₹ 241.8 crores, with EBITDA margins at 10.3%. Profit After Tax (PAT) stood at ₹ 69.15 crores compared to ₹ 73.01 crores in the previous year.

FY 2025-26 marked a defining chapter in the Group’s evolution, with strategic investments across Germany, the UK, the US and the Netherlands. The Group is transitioning from a regional player to a globally integrated platform. The US Creative Development Centre secured its first customer order and commenced revenue generation. The greenfield expansion at Holland Aromatics commissioned in early Q1 FY27, and the Vanavate facility is expected to be commissioned in Q2 FY27.