S H Kelkar and Company Limited

BSE: SHK539450ISIN INE500L01026

Commodities
Specialty Chemicals
BSE 1000

Share price

₹131.15+3.35 (+2.62%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹225.85
52W low: ₹111.70
Off 52W high: -41.93%
1M return: -4.34%
3M return: -21.37%
6M return: -10.75%
1Y return: -41.10%
20D avg volume: 14,196
50 DMA: ₹139.49
200 DMA: ₹142.31

Key ratios Consolidated

Market cap: ₹1,815 Cr
Current price: ₹131.15
52W high / low: ₹225.85 / ₹111.70
Face value: ₹10.00
P/E: 19.23
P/B: 1.28
EPS (TTM): ₹6.82
Book value / share: ₹102.59
ROE: —
ROCE: 9.60%
Operating margin: —
Net margin: —
Debt / equity: 0.62
Net debt: ₹786.67 Cr
Interest cover: 3.02
Dividend yield: 0.76%
Dividend / share (TTM): ₹1.00
Payout: 14.66%
Cash conversion cycle: 149.3 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	636.19	662.42	649.94	583.80	553.89	580.63	567.38	543.21	542.50	470.31	533.06	496.00
	2.87	0.81	7.28	1.12	0.32	0.81	1.66	0.89	20.65	0.65	1.51	2.21
	639.06	663.23	657.22	584.92	554.21	581.44	569.04	544.10	563.15	470.96	534.57	498.21
	612.41	623.88	643.57	568.20	542.51	547.06	531.52	515.84	498.72	424.43	478.04	452.71
	328.52	389.03	384.35	318.58	334.24	353.98	300.29	294.88	390.93	321.80	242.97	275.61
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	97.59	100.03	102.76	93.08	85.09	79.63	75.56	76.90	70.25	67.20	65.95	65.17
	17.40	15.00	15.03	13.50	13.91	13.07	12.89	13.82	12.82	9.89	10.32	10.80
	37.68	35.12	38.63	26.99	27.38	26.37	24.68	23.35	24.18	22.49	22.67	22.69
	110.21	108.59	111.00	99.08	97.90	94.76	87.99	85.26	88.84	78.52	80.65	75.69
	26.65	39.35	13.65	16.72	11.70	34.38	37.52	28.26	64.43	46.53	56.53	45.50
	0.00	29.95	0.00	33.07	0.74	2.11	59.32	0.00	0.00	-119.87	0.00	0.00
	26.65	69.30	13.65	49.79	12.44	36.49	96.84	28.26	64.43	-73.34	56.53	45.50
	11.98	23.67	12.80	16.41	2.99	11.06	5.50	9.86	23.96	12.41	23.10	13.37
	14.56	45.43	1.80	32.63	9.17	25.55	102.51	17.51	39.81	-86.82	33.43	32.13
	1.05	3.28	0.13	2.36	0.66	1.85	7.41	1.27	2.87	-6.19	2.46	2.37
Key metrics
	81.73	119.42	67.31	90.28	53.73	75.93	134.41	65.43	101.43	-40.96	89.52	78.99
	12.80%	18.00%	10.40%	15.50%	9.70%	13.10%	23.70%	12.00%	18.70%	-8.70%	16.80%	15.90%
	2.30%	6.90%	0.30%	5.60%	1.70%	4.40%	18.10%	3.20%	7.30%	-18.50%	6.30%	6.50%
	2.40%	—	1.60%	—	1.60%	—	7.10%	—	—	—	—	—
	14.90%	14.10%	14.60%	7.50%	2.10%	23.50%	6.40%	9.50%	—	—	—	—
	58.80%	77.80%	-98.20%	86.40%	-77.00%	129.40%	206.60%	-45.50%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	2,532	2,368	2,123	1,930	1,687	1,564
	12.08	9.53	23.85	6.03	11.81	17.51
	2,544	2,378	2,147	1,936	1,698	1,582
	2,448	2,301	1,971	1,754	1,574	1,438
	1,420	1,348	1,308	1,042	995.24	897.22
	0.00	0.00	0.00	—	—	—
	393.46	360.56	289.91	251.58	211.80	198.75
	60.93	55.51	49.42	41.26	23.89	16.18
	138.42	119.37	94.70	89.31	80.45	71.77
	428.88	446.13	340.61	291.12	252.72	225.29
	96.37	76.45	176.74	182.30	124.79	144.19
	63.02	35.92	-60.55	0.00	-20.27	-11.93
	159.39	112.37	116.19	182.30	104.52	132.26
	64.86	43.26	40.73	58.75	41.41	17.16
	94.42	69.15	73.01	123.55	62.95	149.42
	6.82	5.00	5.37	8.93	4.53	10.81
Key metrics
	358.74	287.25	260.31	312.87	208.86	220.21
	14.17%	12.10%	12.30%	16.20%	12.40%	14.10%
	3.73%	2.90%	3.40%	6.40%	3.70%	9.60%
	—	9.60%	10.70%	—	—	—
	12.79%	11.50%	10.00%	14.40%	7.80%	—
	-38.98%	-5.30%	-40.90%	96.30%	-57.90%	—
	—	56.66	-79.99	—	—	—
	—	3.81	0.22	—	—	—
	—	0.62	0.59	—	—	—
	—	786.67	658.40	—	—	—
	—	149.3	141.6	—	—	—
Balance sheet
	—	2,913	2,685	—	—	—
	—	1,470	1,576	—	—	—
	—	64.30	86.45	—	—	—
	—	635.02	505.86	—	—	—
	—	665.14	717.73	—	—	—
	—	92.37	157.29	—	—	—
	—	464.46	460.40	—	—	—
	—	331.37	399.97	—	—	—
	—	1,159	1,131	—	—	—
	—	850.97	744.85	—	—	—
	—	639.38	570.17	—	—	—
	—	211.59	174.68	—	—	—
	—	1,362	1,272	—	—	—
Cash flow
	—	263.13	15.74	—	—	—
	—	-205.43	-72.28	—	—	—
	—	-157.98	99.29	—	—	—
	—	206.47	95.73	—	—	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	—	337.05	336.43	297.92	306.55	339.22	278.37	298.41	323.94	236.75	247.76	231.15
	—	1.45	15.45	4.36	13.44	1.06	1.47	0.95	2.06	11.48	2.42	1.72
	—	338.50	351.88	302.28	319.99	340.28	279.84	299.36	326.00	248.23	250.18	232.87
	—	348.12	352.12	306.18	309.61	337.44	284.96	291.59	304.65	219.34	227.95	203.54
	—	288.61	266.24	197.79	225.35	265.12	183.90	185.30	294.63	203.89	153.76	148.92
	—	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	—	30.44	36.51	28.02	27.64	26.14	26.91	19.72	29.02	25.85	20.12	25.53
	—	7.71	7.30	6.92	6.85	5.75	5.37	6.91	4.48	1.99	1.69	1.57
	—	7.72	7.32	6.94	7.23	7.31	7.57	6.50	6.34	6.08	6.42	6.41
	—	39.48	47.98	45.64	46.90	41.40	46.19	43.33	38.12	32.17	29.13	24.19
	—	-9.62	-0.24	-3.90	10.38	2.84	-5.12	7.77	21.35	28.89	22.23	29.33
	—	29.95	0.00	29.21	0.74	2.11	48.48	—	—	-119.87	—	—
	—	20.33	-0.24	25.31	11.12	4.95	43.36	7.77	21.35	-90.98	22.23	29.33
	—	5.12	-0.25	6.66	0.52	0.85	-17.48	1.44	10.29	0.81	6.00	7.78
	—	15.21	0.01	18.65	10.60	4.10	60.84	6.33	11.06	-91.79	16.23	21.55
	—	1.10	0.01	1.35	0.76	0.30	4.40	0.46	0.80	-6.63	1.18	1.58
Key metrics
	—	35.76	14.38	39.17	25.20	18.01	56.30	21.18	32.17	-82.91	30.34	37.31
	—	10.60%	4.30%	13.10%	8.20%	5.30%	20.20%	7.10%	9.90%	-35.00%	12.20%	16.10%
	—	4.50%	0.00%	6.30%	3.50%	1.20%	21.90%	2.10%	3.40%	-38.80%	6.60%	9.30%
	—	—	0.70%	—	1.90%	—	5.50%	—	—	—	—	—
	—	-0.60%	20.90%	-0.20%	-5.40%	43.30%	12.40%	29.10%	—	—	—	—
	—	271.00%	-100.00%	194.60%	-4.20%	104.50%	274.90%	-70.60%	—	—	—	—

Metric	FY26	FY25	FY24	FY23	FY22
Income statement
	1,280	1,137	940.67	879.67	806.89
	34.31	15.96	20.72	13.77	12.69
	1,314	1,153	961.39	893.44	819.58
	1,305	1,101	838.75	786.66	753.48
	954.50	867.72	596.03	584.83	543.06
	0.00	0.00	—	—	—
	118.31	101.50	93.90	84.80	84.24
	26.82	18.75	6.82	4.95	3.91
	28.80	26.49	25.70	27.32	27.68
	181.92	159.81	98.86	84.04	96.15
	9.08	52.89	122.64	106.78	66.10
	32.06	-71.39	—	-30.19	—
	41.14	-18.50	122.64	76.59	66.10
	7.78	-4.94	28.31	24.42	23.61
	33.36	-13.56	94.33	52.17	42.49
	2.42	-0.98	6.88	3.86	3.09
Key metrics
	96.76	26.74	155.16	108.86	97.69
	7.60%	2.40%	16.50%	12.40%	12.10%
	2.60%	-1.20%	10.00%	5.90%	5.30%
	7.20%	0.00%	—	—	—
	12.50%	20.90%	6.90%	9.00%	—
	346.00%	-114.40%	80.80%	22.80%	—
	-14.94	-46.79	—	—	—
	2.96	0.93	—	—	—
	0.58	0.40	—	—	—
	422.65	283.49	—	—	—
	79.3	76.9	—	—	—
Balance sheet
	1,539	1,439	—	—	—
	609.39	688.12	—	—	—
	6.74	13.12	—	—	—
	232.95	162.28	—	—	—
	344.01	396.75	—	—	—
	16.35	10.50	—	—	—
	132.02	124.36	—	—	—
	298.90	319.58	—	—	—
	592.28	547.47	—	—	—
	429.39	296.61	—	—	—
	230.52	158.50	—	—	—
	198.87	138.11	—	—	—
	739.28	733.55	—	—	—
Cash flow
	98.80	-12.64	—	—	—
	-160.04	-177.86	—	—	—
	54.86	182.24	—	—	—
	113.74	34.15	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +13.32%
Sales CAGR 5Y: —
Profit CAGR 3Y: -13.85%
Profit CAGR 5Y: —
Sales YoY (TTM): —
Profit YoY (TTM): —

Consolidated

Sales CAGR 3Y: +11.98%
Sales CAGR 5Y: —
Profit CAGR 3Y: +3.18%
Profit CAGR 5Y: —
Sales YoY (TTM): +12.79%
Profit YoY (TTM): -38.98%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 54.88%

Quarter	September 2026	June 2026
Promoter %	54.88%	54.88%

Holder	Type	Holding	Previous	Change
Ramesh Vinayak Vaze Family Trust (Ramesh Vaze, Prabha Vaze & Kedar Vaze-in the capacity of trustee)	Promoter Group	19.51%	19.51%	0.00%
Knp Industries Pte Limited	Promoter Group	10.75%	10.75%	0.00%
Firmenich Aromatics Production (India) Pvt Ltd	Public	9.80%	9.80%	0.00%
Kedar Ramesh Vaze	Promoter	9.44%	9.44%	0.00%
Bandhan Small Cap Fund	Public	6.08%	5.43%	+0.65%
Keva Constructions Private Limited	Promoter Group	5.34%	5.34%	0.00%
India Insight Value Fund	Public	2.12%	2.12%	0.00%
Vinayak Ganesh Vaze Charities (Ramesh Vaze, Prabha Vaze & Kedar Vaze-in the capacity of trustee)	Promoter Group	1.37%	1.37%	0.00%
Prabha Ramesh Vaze	Promoter	1.30%	1.30%	0.00%
Ramesh Vinayak Vaze	Promoter	1.07%	1.07%	0.00%
Anagha Sandeep Nene	Promoter Group	1.06%	1.06%	0.00%
Parth Kedar Vaze	Promoter Group	0.91%	0.91%	0.00%
Nandan Kedar Vaze	Promoter Group	0.91%	0.91%	0.00%
SKK Industries Private Limited	Promoter Group	0.72%	0.72%	0.00%
Milena Kedar Vaze	Promoter Group	0.72%	0.72%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Pidilite Industries Ltd.	1,53,494	1,507.00	56.47	28.50%	+16.83% TTM	+20.94% TTM	+3.57%
Gujarat Fluorochemicals Limited	50,673	4,612.90	75.63	10.10%	+20.33% TTM	-1.47% TTM	+25.63%
Navin Fluorine International Limited	45,075	8,785.00	49.50	18.70%	+45.68% TTM	+105.04% TTM	+45.12%
Deepak Nitrite Limited	21,559	1,580.65	20.29	10.80%	+23.80% TTM	+99.83% TTM	-9.73%
Aether Industries Limited	20,478	1,542.85	82.16	12.20%	+30.76% TTM	+28.03% TTM	+103.85%
Aarti Industries Ltd	16,311	449.65	27.46	8.50%	+39.85% TTM	+104.40% TTM	+16.66%
Fine Organic Industries Limited	15,720	5,127.35	38.71	20.20%	+12.92% TTM	+18.80% TTM	+16.19%
Atul Limited.	15,177	5,155.00	19.28	13.50%	+18.15% TTM	+40.10% TTM	-12.49%
Anupam Rasayan India Limited	13,029	1,144.40	57.92	7.50%	+51.76% TTM	+14.65% TTM	+6.58%
PRIVI SPECIALITY CHEMICALS LIMITED	12,825	3,283.30	34.73	25.10%	+17.54% TTM	+44.15% TTM	+10.09%
BASF India Ltd	12,812	2,959.95	21.44	13.10%	+13.35% TTM	+59.30% TTM	-33.46%
Sudeep Pharma Limited	12,657	1,120.60	67.10	24.20%	—	—	—
Vinati Organics Ltd.	10,334	996.85	25.09	17.70%	+10.98% TTM	-5.48% TTM	-39.90%
Elantas Beck India Ltd S	10,127	12,774.65	54.20	—	+18.86% TTM	+35.25% TTM	+29.29%
Jubilant Ingrevia Limited	8,957	562.35	25.55	10.80%	+15.41% TTM	+21.73% TTM	-18.43%
Alkyl Amines Chemicals Ltd. S	8,108	1,585.25	32.77	14.60%	+13.38% TTM	+35.83% TTM	-13.31%
Galaxy Surfactants Limited	8,048	2,269.80	22.75	12.70%	+27.05% TTM	+16.13% TTM	+0.01%
Clean Science and Technology Limited	6,979	656.60	29.92	19.20%	+4.51% TTM	-12.06% TTM	-33.34%
Neogen Chemicals Limited	6,815	2,268.40	168.60	6.80%	+26.66% TTM	+55.16% TTM	+54.05%
Fineotex Chemical Limited	6,221	53.42	41.98	16.20%	+91.44% TTM	+41.07% TTM	+84.27%
Balaji Amines Ltd.	5,738	1,770.80	23.80	10.20%	+20.91% TTM	+66.05% TTM	+26.00%
Archean Chemical Industries Limited	5,291	428.60	54.04	7.80%	+5.99% TTM	-42.66% TTM	-34.05%
Prasol Chemicals Limited	4,594	776.20	—	—	—	—	—
Laxmi Organic Industries Limited	4,501	161.95	35.81	4.40%	+5.47% TTM	+25.01% TTM	-17.12%
Foseco India Ltd S	4,494	5,962.25	57.00	—	+10.33% TTM	-3.71% TTM	+5.42%
S H Kelkar and Company Limited	1,815	131.15	19.23	9.60%	+12.79% TTM	-38.98% TTM	-41.10%

Some figures use IPO-document inputs. Growth periods are shown per value; FY means annual.

Filings & corporate actions

Recent announcements

Please refer enclosed file3 Nov 2026 · Company Update / Analyst / Investor Meet
Please refer enclosed file3 Nov 2026 · Company Update / Newspaper Publication
Please refer enclosed file2 Nov 2026 · Company Update / Investor Presentation
Please refer enclosed file2 Nov 2026 · Company Update / Press Release / Media Release
Please refer enclosed file2 Nov 2026 · Company Update / Change in Management
Please refer enclosed file2 Nov 2026 · Company Update / Change in Directorate
Please refer enclosed file2 Nov 2026 · Result / Financial Results
Submission of Unaudited Standalone and Consolidated Financial Results for Q2 & H1 FY272 Nov 2026 · Board Meeting / Outcome of Board Meeting
The Company has received Exchange Letters (Cautionary) from BSE Limited and National Stock Exchange of India Limited today i.e. October 27, 2026 vide e-mails.27 Oct 2026 · Company Update / General
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Keva Constructions Pvt Ltd & PACs21 Oct 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Keva Constructions Pvt Ltd & PACs17 Oct 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
Intimation of Schedule of Analyst / Institutional Investor meeting for Q2 & H1 FY2716 Oct 2026 · Company Update / Analyst / Investor Meet
S H Kelkar And Company Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 02/11/2026 ,inter alia, to consider and approve Unaudited Standalone ....15 Oct 2026 · Board Meeting / Board Meeting
Business Update for Q2 FY 2026-279 Oct 2026 · Company Update / General
Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 20267 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Changes in the Senior Management Personnel of the Company30 Sep 2026 · Company Update / Change in Management
Changes in Senior Management Personnel of the Company30 Sep 2026 · Others / Outcome without intimation
Credit Rating by Crisil Ratings Limited28 Sep 2026 · Company Update / Credit Rating
Intimation of closure of Trading Window for the Quarter and Half Year ended September 30, 202621 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Intimation of Sad Demise of Mr. Ramesh Vaze (DIN: 00509751), Chairman of the Company15 Sep 2026 · Company Update / Demise
Intimation of Sad Demise of Mr. Ramesh Vaze (DIN: 00509751), Chairman of the Company15 Sep 2026 · Company Update / Press Release / Media Release
Intimation of Sad Demise of Mr. Ramesh Vaze (DIN: 00509751), Chairman of the Company15 Sep 2026 · Company Update / Change in Management
Appointment of Mr. Ranjeet Agrawal as Executive Vice President - Sales (India Subcontinent) and Senior Management Personnel of the Company with effect from August 20, 202619 Aug 2026 · Company Update / Change in Management
Appointment of Mr. Ranjeet Agrawal as Executive Vice President - Sales (India Subcontinent) and Senior Management Personnel of the Company with effect from August 20, 202619 Aug 2026 · Others / Outcome without intimation
ESG Rating14 Aug 2026 · Company Update / Credit Rating
We are enclosing herewith the transcript of the Conference Call for Investors and Analysts for Q1 FY27 results4 Aug 2026 · Company Update / Earnings Call Transcript
Voting results and Scrutinizer''s Report-70th Annual General Meeting1 Aug 2026 · AGM/EGM / AGM
Please find enclosed summary proceedings of the 70th Annual General Meeting of the Company31 Jul 2026 · AGM/EGM / AGM
Audio Recording of Conference Call for Investor and Analysts for Q1 FY 202729 Jul 2026 · Company Update / Analyst / Investor Meet
Newspaper Publication in respect of Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 202629 Jul 2026 · Company Update / Newspaper Publication
Submission of Investor Presentation in respect of Unaudited (Standalone and Consolidated) Financial Results for the Quarter Ended June 30,202628 Jul 2026 · Company Update / Investor Presentation
Submission of Press Release in respect of Unaudited (Standalone and Consolidated) Financial Results for the Quarter Ended June 30,202628 Jul 2026 · Company Update / Press Release / Media Release
Divestment of entire equity stake held in Keva Ventures Private Limited, Wholly Owned Subsidiary28 Jul 2026 · Company Update / Restructuring
Financial Results for the Quarter Ended June 30,202628 Jul 2026 · Result / Financial Results
Submission of Unaudited Standalone and Consolidated Financial Results for Q1 FY2728 Jul 2026 · Board Meeting / Outcome of Board Meeting
Intimation of Schedule of Analyst/ Institutional Investor meeting for Q1 FY2714 Jul 2026 · Company Update / Analyst / Investor Meet
S H Kelkar And Company Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 28/07/2026 ,inter alia, to consider and approve Unaudited Standalone ....13 Jul 2026 · Board Meeting / Board Meeting
Business Update for Q1 FY 2026-278 Jul 2026 · Company Update / General
Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended June 30, 20267 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Newspaper Advertisement regarding Notice of 70th Annual General Meeting of S H Kelkar and Company Limited and e-voting information2 Jul 2026 · Company Update / Newspaper Publication

Corporate actions

Purpose	Ex date	Record date	Payment date
Interim Dividend - Rs. - 1.0000	13 Feb 2026	13 Feb 2026	—
Final Dividend - Rs. - 1.0000	1 Aug 2025	1 Aug 2025	—

Board meetings

2 Nov 2026 Board Meeting - Financial Results
28 Jul 2026 Board Meeting - Financial Results