SH Kelkar & Company , a prominent player in the fragrance and flavor industry, has announced a significant change in its leadership structure. The company has appointed Ms. Deepti Chandratre as its Interim Chief Financial Officer (CFO), effective October 07, 2025. This appointment comes as part of the company's strategic management reshuffle.

Key Highlights of the Appointment

• Appointment Date: October 07, 2025
• Position: Interim Chief Financial Officer
• Additional Roles: Global Legal Counsel and Company Secretary
• Term: Until a permanent CFO is appointed

Ms. Deepti Chandratre's Profile

Ms. Chandratre brings a wealth of experience to her new role:

• Educational Background:

  • Commerce graduate
  • Bachelor's degree in Law
  • Member of the Institute of Company Secretaries of India

• Professional Experience:

  • Over 19 years in legal and corporate secretarial functions
  • Expertise in mergers, acquisitions, and corporate restructurings
  • Previous association with Mahindra & Mahindra Limited

Appointment Details

The Board of Directors of SH Kelkar & Company, based on the recommendation of the Nomination and Remuneration Committee, approved Ms. Chandratre's appointment. As the Interim CFO, she will continue to serve as a Key Managerial Personnel and remain part of the Senior Management team.

Corporate Governance Compliance

The company has ensured compliance with regulatory requirements:

• The appointment was made in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• Necessary disclosures have been made to the BSE Limited and the National Stock Exchange of India Limited.

Company's Securities Status

As of September 30, 2025:

• All securities of SH Kelkar & Company are held in dematerialized form.
• No requests for dematerialization, mutilation, or cancellation of securities were received during the quarter.

This appointment reflects SH Kelkar & Company's commitment to maintaining strong leadership and ensuring smooth transitions in key positions. Ms. Chandratre's multifaceted role as Interim CFO, Global Legal Counsel, and Company Secretary underscores the company's strategy of leveraging internal talent and expertise across various critical functions.

SH Kelkar & Company (SHK), India's largest Indian-origin Fragrance & Flavour Company, has unveiled a series of strategic moves aimed at aligning its group entities with business units, alongside reporting robust financial results for the first quarter.

Corporate Restructuring

The company's Board of Directors has approved an internal corporate restructuring plan that includes:

1. Sale of Keva UK Limited: Keva Europe BV will sell its entire stake in Keva UK Limited to Keva Fragrances Private Limited for €2 million (approximately Rs. 20.48 crore).

2. Sale of Keva USA Inc.: SH Kelkar will sell its entire stake in Keva USA Inc. to Keva Fragrances Private Limited for $2 million (approximately Rs. 17.54 crore).

3. Incorporation of Keva Middle East FZE: Keva Fragrances Private Limited will incorporate Keva Middle East FZE in the United Arab Emirates with an investment of AED 150,000.

These moves are expected to streamline operations and enhance the company's global footprint in the fragrance and flavour industry.

Q1 Financial Highlights

For the quarter ended June 30, SH Kelkar reported:

• Consolidated revenue from operations of Rs. 580.63 crore, up 23.5% year-on-year
• EBITDA of Rs. 76.40 crore, with an EBITDA margin of 13.2%
• Profit after tax of Rs. 25.55 crore, compared to a loss in the same quarter last year

The company's performance was driven by strong growth in both its Fragrance and Flavours segments.

Management Commentary

Kedar Vaze, Whole Time Director and CEO at SH Kelkar, commented on the results: "In Q1, the Company reported consolidated revenue of Rs. 579 crore, achieving growth of approximately 14.8% over the H1 average. This performance was supported by healthy traction in the domestic market across both our Fragrance and Flavour divisions."

He added, "Gross margin improved by 94 bps QoQ to 42.4%, moving closer to our longer-term trend range of 43-45%, supported by stabilising raw material availability, selective pricing actions, and an optimised product mix."

Future Outlook

The company remains optimistic about its future prospects, with expectations of margin improvement in the second half and more meaningfully from the following fiscal year onwards. SH Kelkar is committed to leveraging its enhanced capacities and innovation-led approach to strengthen its global footprint and deliver sustained value to stakeholders.

The corporate restructuring initiatives, coupled with strong financial performance, position SH Kelkar well for continued growth in the fragrance and flavour industry both domestically and internationally.