S H Kelkar and Company Limited (SHK) Earnings Call Transcripts
S H Kelkar and Company Limited's Latest Earnings Call - Q4 FY2026
In Q4 FY 2026, S H Kelkar and Company Limited reported steady revenue growth despite a challenging operating environment, with revenues reflecting a one-off sale of low-margin products. The company achieved an adjusted EBITDA of INR 283 crores, maintaining EBITDA margins at 13.5%. Management signaled cautious optimism for the first half of FY 2027, indicating that while raw material price pressures persist, they expect to maintain margins and secure growth through strategic pricing and customer engagement initiatives.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | INR 2,100 crores (beat) |
| Adjusted EBITDA | INR 283 crores (beat) |
| EBITDA Margin | 13.5% (inline) |
| Profit After Tax | INR 150 crores (miss) |
| Gross Margin | 40% (miss) |
| CapEx | INR 140 crores (neutral) |
Guidance from management
Management expects to maintain stable performance in the first half of FY 2027, with visibility on growth and margin maintenance. However, they caution that the second half remains uncertain due to raw material supply and pricing dynamics.
What management said
Yes. You're right in the fact that we are going through the CapEx cycle. In our industry, we should also look at the development center OpEx as a sort of CapEx because it takes 2 to 3 years before we start to generate revenue on that. So at this point, we are -- we have the new initiatives last year, which we have started in Germany, Manchester just came on stream this year and the U.S., which came on stream last yea...
I would say the investments are to the tune of INR 80 crores to INR 85 crores because they're not losses. We are producing products, we are giving samples. So the development work is happening. But it is to the tune of -- as Jagdish mentioned, INR 80 crores.
What analysts pressed on
Analysts expressed concerns regarding the company's ability to generate growth amidst rising costs and the impact of ongoing geopolitical tensions. There were questions about the timeline for profitability in new markets and the effectiveness of the company's portfolio optimization strategy.
Main topics on the call
- Revenue Growth Amid Challenges — S H Kelkar reported revenue growth supported by resilient demand across core categories, despite geopolitical and inflationary pressures. Management stated, "we delivered an encouraging revenue growth, supported by resil...
- Operational Capacity Expansion — The company has successfully operationalized the Almere factory in the Netherlands, which is expected to enhance European growth capacity. Management noted, "The Almere factory at Netherlands greenfield facility is now f...
- Portfolio Optimization Efforts — Management highlighted a one-off sale of INR 35 crores of low-margin products as part of ongoing portfolio optimization. They emphasized the importance of exiting low-margin transactions to protect overall margins, stati...
- Guidance for FY 2027 — Management maintained a cautious outlook for FY 2027, indicating that while the first half looks stable, the second half remains uncertain due to raw material supply dynamics. They mentioned, "we are on track for a norma...
Read the full S H Kelkar and Company Limited transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About S H Kelkar and Company Limited
S H Kelkar and Company Limited (SHK) is a publicly listed company in the Chemicals industry, within the Materials sector. It trades on NSEI and is based in IN. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 25 calls on record spanning February 10, 2020 to July 29, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 25 S H Kelkar and Company Limited earnings call transcripts on record, spanning February 10, 2020 to July 29, 2026. Based on this history, S H Kelkar and Company Limited reports quarterly. The most recent call on file is dated July 29, 2026. The full list is below — each row opens the complete, free-to-read transcript.