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S H Kelkar and Company (SHK) had a P/E of 20.4× on 6 Nov 2026, below the industry P/E of 22.1×, and the shares are 38% below their 52-week high. Its ROCE of 9.4% is the lowest among the 7 largest Specialty Chemicals peers, and sales and net profit grew 12% and 4.2% a year over 3 years. Its dividend yield is 0.8%, and debt is 0.82× equity. It is a small-cap company with a market cap of ₹1,800 Cr, ranked 61st of 204 Specialty Chemicals companies by market cap; the shares fell 40% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Jun 2026.How we calculate this

past year
Open
₹132.60
Day high
₹132.60
Day low
₹127.64
Prev. close
₹132.60
Volume
1.7 L

Health check

2 fair · 4 to check
  • ReturnsBehind

    −40.4% over a year, better than 0 of 7 peers.

  • Price tagIn line

    P/E 20.4 vs industry 22.1.

  • GrowthSteady

    Sales +12.0%, profit +4.2% a year over 3 years.

  • ProfitabilityWeak

    ROCE 9.4% vs peer median 24.4%.

  • Balance sheetStretched

    Debt 0.82× equity, interest covered 3.1×, Piotroski 3 of 9.

  • Red flags2 to check

    Return on equity is low at 6.9%.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Specialty Chemicals

203 listed peers. Screen the industry

Small cap

₹1,800 Cr, #61 of 204 in its industry by size.

Market sensitivity

Measuring against the NIFTY 50…

Key metrics

Last 12 months to Jun 2026: sales ₹2,534 Cr · profit ₹95 Cr
Market cap
₹1,800 Cr
Small cap
P/E
20.4
Industry 22.1
Price to book
1.27
Peers 13.33
Dividend yield
0.77%
ROE
6.9%
Peers 23.0%
ROCE
9.4%
Peers 24.4%
Debt to equity
0.82
Debt ₹1,163 Cr
EPS (TTM)
₹6.39
Face value ₹10
OPM (TTM)
10.6%
Net margin 3.7%
Sales growth
+14.1%
Latest quarter vs a year ago
Profit growth
+77.6%
Latest quarter vs a year ago
Price to sales
0.71
EV/EBITDA 11.1

Strengths and risks

Strengths

  • Quarterly profit up 77.6% on a year ago.
  • Positive operating cash flow in each of the last 4 years.

Risks to check

  • Return on equity is low at 6.9%.
  • 38% below its 52-week high.

Derived automatically from reported figures. Not a recommendation.

About S H Kelkar and Company

S H Kelkar and Company Limited, together with its subsidiaries, manufactures and supplies fragrances, flavors, and aroma ingredients in India, Europe, and internationally. The company offers fragrances for personal, hair, home, fabric, and skin care products; food flavors and flavoring agents in liquid, emulsion, and dry mix forms for beverages, bakery, dairy, savory, and pharmaceutical products; and aroma ingredients. It is also involved in biotechnology…

Headquarters
Mumbai
Employees
650
Sector
Basic Materials
ISIN
INE500L01026
Website
keva.co.in

Price range

52 weeks

₹111.98₹210.00

Today

₹127.64₹132.60
Avg volume (3M)
3.4 L
1-year return
minus 40.4%
From 52-week high
minus 38.1%

Peers · Specialty Chemicals

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
ASIANPAINTAsian Paints2,546.00plus 0.88%2,44,02550.535.024.4%18.9%0.211.1%plus 1.5%
SOLARINDSSolar Industries India18,608.00plus 0.48%1,68,38474.464.129.5%27.8%0.2212.4%plus 35.9%
PIDILITINDPidilite Industries1,579.00plus 1.63%1,60,82760.044.428.5%23.5%0.037.4%plus 6.8%
LINDEINDIALinde India6,859.00plus 8.73%58,496118.464.216.3%31.5%0.23–plus 5.4%
BERGEPAINTBerger Paints India478.35minus 5.28%55,77645.429.420.6%15.3%0.154.2%minus 6.0%
FLUOROCHEMGujarat Fluorochemicals4,665.50minus 0.94%51,25175.944.09.6%24.1%0.26−4.5%plus 28.0%
ACUTAASAcutaas Chemicals3,786.60plus 0.42%31,00170.964.127.7%39.4%0.0129.4%plus 105.6%
SHKS H Kelkar and Company130.06minus 1.92%1,80020.410.59.4%10.6%0.8212.0%minus 40.4%
Median of 7 peers–0.48%58,49670.944.424.4%24.1%0.215.8%6.8%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Sep 25Dec 25Mar 26Jun 26
578552581647660
505499525587571
73.152.756.16088.7
12.6%9.5%9.7%9.3%13.4%
0.900.48.20
13.113.913.51515
26.427.42738.635.1
2.10.733.1–30
36.712.24914.668.5
30.2%24.6%33.5%87.7%34.5%
25.69.232.71.945.4
1.850.662.360.133.28

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+12.0%
Profit CAGR 3Y
+4.2%
EPS CAGR 3Y
+3.3%
ROE
6.9%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
1,6771,8332,1132,359
–+9.3%+15.3%+11.6%
1,4601,5221,8082,095
217311305264
12.9%17.0%14.4%11.2%
−3.4−11.6−2.3−11.2
15.426.148.953.4
80.589.394.7119
−12.9−0.3−44.432.2
104183115112
39.7%32.5%35.5%38.5%
61.212273.269.3
–+100.1%minus 40.2%minus 5.4%
4.538.935.315.00

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
138138138138
9261,0741,1341,223
6206668321,029
538524581522
2,2222,4022,6852,913
409428505762
22.79.244.7120
0.30.311.211.3
86.511086.564.3
1,7031,8552,0371,956
2,2222,4022,6852,913

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
19710715.7263
−103−81.8−72.3−205
−1758.299.3−158
−81.133.942.8−100
−68.8−60.9−95.7−206
12846.5−8056.7
−18.7−29.4−10.4−27.7

Shareholding pattern

Source: NSE filings

NSE hasn’t returned a shareholding pattern for this company. Institutions hold about 7.0% (Yahoo estimate).

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you