The Company witnessed subdued demand in the emerging markets during the period under review. While engagements with existing customers remained steady, SHK saw healthy enquiries and wins from new customers. European markets registered strong performance on the back of higher consumption and demand trends.
Overall, the Company has reported a stable performance during the first half of the fiscal, despite the impact of the second wave of COVID-19. As the demand environment normalizes, SHK anticipates better performance in the second half of the fiscal.
On a consolidated basis, sales improved by 16% on a like-to-like basis. In H1 FY 2021-22, sales stood at ~Rs713cr as compared to Rs543cr in H1 FY 2020-21, higher by 31% yoy. Emerging markets sales grew by 9% during the first half of the year.
As per the amended Schedule III of the Companies Act, 2013, the Company has excluded lease liabilities from its total debt position, which are to be disclosed separately.
Accordingly, comparative figures for previous periods are also mentioned henceforth. As on September 30, 2021, the Company’s net debt position stood at ~Rs349cr compared to Rs334cr as on June 30, 2021 and Rs324cr in March 31, 2021.
At around 2:13 PM, S H Kelkar & Company was trading at Rs156.20 apiece down by Rs0.9 or 0.57% on the BSE.