S H Kelkar & Company Ltd. share price target

Subdued performance on delayed recovery post GST: SHKL's overall revenue declined 9.5% YoY to INR2,219m (est. of INR2,953m) in 2QFY18. The fragrance business reported de-growth of 12.1% YoY to INR1,943m, while the flavor business reported growth of 17% YoY to INR266m. EBITDA margin shrunk 110bp YoY to 16% (est. of 17.7%) in 2QFY18. EBITDA during the quarter declined 16% YoY to INR355m (est. of INR523m). Gross margin improved by a healthy 400bp to 48.4%, offset by a 150bp increase in employee cost and a 360bp rise in other expenses. Consequently, adj. PAT...

S H Kelkar & Company Ltd: Q2FY18 Result Update : GST related issues impact topline; H2FY18 likely to see rebound in growth. S H Kelkar & Company Ltd. (SHK) reported consolidated Q2FY18...

S H Kelkar & Company Ltd. (SHK) is the largest Indian-origin Fragrances & Flavours (F&F) company in India. Its fragrance products and ingredients are used as a raw material in personal...

volumes in H2FY17 offset the benefits the company enjoyed from higher realizations, raw material procurement efficiencies, operating leverage & continuing moderation in other expenses. This led to SHK clocking a flat 70 basis points EBITDA margin improvement from...

efficiencies and moderation in other expenses contributed to an improvement of 220 basis points in EBITDA margins, leading to a ~ 35.6 % expansion in operating profits. A combination of reduction of finance costs on account of repayment of debt with the IPO proceeds and...

We recently met the management of SH Kelkar & Company (SHK) to understand its business model and outlook, going forward. SHK is one of the largest domestic fragrance and flavour companies by revenue with a...

SH Kelkar & Co Ltd. is India's oldest and most renowned manufacturer and supplier of Fragrance & Flavours (F&F;). The company commands a market share of ~20.5% in the fragrance...

Mumbai-based SH Kelkar & Company is the country's largest domestic producer of fragrance with 12% market share (Fragrances and Flavours) in CY13. The Company exports fragrance products to 52 countries and also the...

S H Kelkar and Company Limited are one of the largest fragrance and flavour companies in India by revenue, with a market share of approximately 12.0% for the year ended December 31, 2013 (Source: Market Study on Fragrances and Flavours by Nielsen, March 22, 2015). The Company is the largest domestic fragrance producer in India with a market share of approximately 20.5% for the year ended December 31, 2013 (Source: Market Study on Fragrances and Flavours by Nielsen, March 22, 2015), with exports of fragrance products to 52 countries. They are an emerging flavour producer in India with exports to 15 countries. Its fragrance manufacturing plants in Mumbai and Raigad in Maharashtra comply with the regulations of the International Fragrance Association (IFRA) and its flavour manufacturing plant in Raigad in Maharashtra is registered with the United States Food and Drug Administration (US FDA). The Company has a long standing reputation...