S H Kelkar and Company Limited (SHK) — Announcement | 4 August 2026

S H Kelkar reported 14% YoY revenue growth to Rs. 662 crore in Q1 FY27, driven by strong Flavours segment performance and stable gross margins, with EBITDA margin expanding to 13.4%. Management highlighted strategic investments in R&D, capacity expansion in Europe and India, and long-term targets of 15-20% ROCE, while noting net debt of Rs. 852 crore and plans to reduce leverage. The company expects double-digit revenue growth and margin improvement in FY27, supported by new European facilities and inventory management to navigate foreign exchange volatility and raw material inflation.