SH Kelkar dips 2% after Q3 PAT declines 8.5% to Rs32.37cr

8 Feb 2022 , 11:02 AM

SH Kelkar and Company Limited (SHK), the largest Indian origin Fragrance and Flavour Company in India, has announced its financial results for the quarter and nine months ended December 31, 2021.

Revenues from operations stood at Rs396.6cr in Q3FY22 as against Rs375.4cr in Q3FY21, higher by 5.6%. EBITDA stood at Rs63.8cr as against Rs71.8cr.  EBITDA margins remained stable on a sequential basis at 15.8%. Profit After Tax (PAT) stood at Rs32.37cr in Q3FY22 as against Rs35.39cr in Q3FY21, down 8.5%.

Revenues from operations stood at Rs1,109.8cr in 9MFY22 as against Rs918.6cr in 9MFY21. Emerging markets’ revenues grew by 7.1% yoy.  EBITDA at Rs163.7cr as against Rs184.1cr. EBITDA margin stood at 14.6%.  Reported PAT stood at Rs136.07cr in 9MFY22 as against Rs104.57cr, higher by 30.1%. On an adjusted basis, PAT stood at Rs77.76cr.

At around 11.08 am, SH Kelkar & Company Ltd was trading at Rs150.55 per share down by Rs3 or 1.95% from its previous closing of Rs153.55 per share on the NSE.

Kedar Vaze, Whole Time Director and Group CEO at SH Kelkar and Company said, “We have reported a steady performance in the quarter and nine months period. In our core domestic fragrance business, we saw improved demand momentum. Our CFF and Nova segment also saw healthy offtake during the quarter. Although client wins across our geographies continued to remain healthy, inflationary trends impacted volume growth in international markets.

In a strategic development during the quarter, we are happy to share that we have acquired 62% of stake in Holland Aromatics, a leading fragrance company in the Netherlands. The acquisition, while being complementary to the CFF business, supports our strategy to deepen presence in the European fragrance market.”