S H Kelkar's Scent of Success: How the Company Defied Odds in FY25

S H Kelkar & Company Ltd has posted a strong 15% year-over-year growth in FY25 consolidated revenues to ₹2,110 crore. It was influenced by the good performance from major business divisions, especially small and mid-size accounts, and steady demand in operations from Europe.

 

Even as it encountered supply chain disruptions and raw material scarcity, the firm anticipates margin recovery in FY26 on account of softening input costs and price revisions. S H Kelkar's net debt as of March 31, 2025, was ₹670 crore. The firm has recently received an interim settlement of ₹95 crore under the insurance claim in respect of a fire accident at its Vashivali unit.

 

S H Kelkar has minimal exposure to the US market and does not foresee considerable effects from latest US tariffs. The firm is also shedding its 40% holding in NuTaste Food and Drink Labs. With continued investment in growth activities, S H Kelkar is confident of gaining a bigger market share internationally.

 

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Source: Business Upturn, Financial Express, Kotak Securities.