Financials S H Kelkar and Company Limited

Equities

Market Closed - NSE India S.E. Other stock markets 04:35:04 09/03/2026 pm IST			5-day change	1st Jan Change
129.71 ^INR	-3.49%		-12.26%	-27.61%

09/02	S H Kelkar and Company Limited, Q3 2026 Earnings Call, Feb 09, 2026
06/02	S H Kelkar and Company Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2025	CI

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	13,454	15,817	16,983	-	21,234	23,096	25,930	29,881
Change	-	17.56%	7.37%	-	-	8.77%	12.27%	15.24%
EBITDA ¹	2,359	2,177	2,291	-	2,970	2,343	2,730	3,894
Change	-	-7.71%	5.23%	-	-	-21.11%	16.5%	42.63%
EBIT	1,744	1,459	1,486	-	-	-	-	-
Change	-	-16.31%	1.82%	-	-	-	-	-
Interest Paid ¹	-170.7	-161.8	-239	-	-494.2	-584	-585	-541
Earnings before Tax (EBT)	1,933	1,323	1,044	-	-	-	-	2,119
Change	-	-31.57%	-21.06%	-	-	-	-	-
Net income ¹	1,447	1,486	612	1,224	732.4	1,194	1,383	1,499
Change	-	2.67%	-58.81%	100.03%	-40.17%	63.03%	15.83%	8.39%
Announcement Date	27/05/21	25/05/22	30/05/23	26/07/24	16/05/25	-	-	-

¹INR in Million

Estimates

Fiscal Period: March	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3
Net sales ¹	1,966	3,606	3,830	4,052	3,590	3,599	4,036	4,593	4,150	4,142	-	5,425	5,432	5,674	5,814	6,103	5,973
Change	-	83.42%	6.21%	5.78%	-11.4%	0.25%	12.13%	13.8%	-9.64%	-0.2%	-	-	0.13%	4.45%	2.48%	4.96%	-2.13%
EBITDA ¹	309.6	748.3	668.5	671.1	414.2	538.6	621	603	548.7	586.6	-	807.8	645.4	734.3	730.1	813	705
Change	-	141.7%	-10.66%	0.39%	-38.28%	30.03%	15.3%	-2.9%	-9%	6.91%	-	-	-20.1%	13.77%	-0.57%	11.35%	-13.28%
EBIT ¹	193.6	599.5	500.1	489.3	242	365.1	449.9	402.1	350.8	382.4	-	559.4	403	487.5	466.4	529	411
Change	-	209.66%	-16.58%	-2.16%	-50.54%	50.87%	23.23%	-10.62%	-12.76%	9.01%	-	-	-27.96%	20.97%	-4.33%	13.42%	-22.31%
Charge d'intérêts	-45.1	-43.7	-42.4	-39.5	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	189.3	705.1	506.9	531.6	244	273	430.8	373.8	314.9	351.5	-	637.7	273.7	970.1	366.1	415	283
Change	-	272.48%	-28.11%	4.87%	-54.1%	11.89%	57.8%	-13.23%	-15.76%	11.62%	-	-	-57.08%	254.44%	-62.26%	13.36%	-31.81%
Net income ¹	152.8	539.1	353.9	401.3	814.7	222.2	323.7	125	216	240.9	-865.8	398.1	175.2	1,025	255.7	283	212
Change	-	252.81%	-34.35%	13.39%	103.02%	-72.73%	45.68%	-61.38%	72.8%	11.53%	-459.4%	145.98%	-55.99%	485.16%	-75.06%	10.68%	-25.09%
Announcement Date	12/08/20	11/11/20	10/02/21	27/05/21	06/08/21	29/10/21	07/02/22	25/05/22	09/08/22	21/10/22	13/08/24	14/11/24	12/02/25	16/05/25	08/08/25	-	-

¹INR in Million

Estimates

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	3,537	5,094	4,988	-	6,581	7,286	6,431	6,388
Change	-	44.02%	-2.08%	-	-	10.72%	-11.73%	-0.67%
Announcement Date	27/05/21	25/05/22	30/05/23	26/07/24	16/05/25	-	-	-

¹INR in Million

Estimates

Fiscal Period: March	2021	2022	2023	2025	2026	2027	2028
CAPEX ¹	337.7	265.8	688	957.3	1,834	745	599
Change	-	-21.29%	158.84%	-	91.58%	-59.38%	-19.6%
Free Cash Flow (FCF) ¹	1,614	236.1	1,279	-799.9	153	1,743	877
Change	-	-85.37%	441.59%	-	119.13%	1,039.22%	-49.68%
Announcement Date	27/05/21	25/05/22	30/05/23	16/05/25	-	-	-

¹INR in Million

Estimates

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	17.53%	13.76%	13.49%	-	13.99%	10.15%	10.53%	13.03%
EBIT Margin (%)	12.96%	9.23%	8.75%	-	-	-	-	-
EBT Margin (%)	14.37%	8.36%	6.15%	-	-	-	-	7.09%
Net margin (%)	10.76%	9.39%	3.6%	-	3.45%	5.17%	5.33%	5.02%
FCF margin (%)	11.99%	1.49%	7.53%	-	-3.77%	0.66%	6.72%	2.93%
FCF / Net Income (%)	111.53%	15.89%	208.94%	-	-109.22%	12.81%	126.03%	58.51%
Profitability
ROA	-	-	-	-	-	-	-	-
ROE	16.3%	15.12%	9.25%	-	5.9%	3.76%	4.86%	9.94%
Financial Health
Leverage (Debt/EBITDA)	1.5x	2.34x	2.18x	-	2.22x	3.11x	2.36x	1.64x
Debt / Free cash flow	2.19x	21.58x	3.9x	-	-8.23x	47.62x	3.69x	7.28x
Capital Intensity
CAPEX / Current Assets (%)	2.51%	1.68%	4.05%	-	4.51%	7.94%	2.87%	2%
CAPEX / EBITDA (%)	14.32%	12.21%	30.03%	-	32.23%	78.27%	27.29%	15.38%
CAPEX / FCF (%)	20.93%	112.58%	53.8%	-	-119.68%	1,198.69%	42.74%	68.3%
Items per share
Cash flow per share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Dividend per Share ¹	1	0.75	-	-	1	2.492	2.888	3.129
Change	-	-25%	-	-	-	149.22%	15.88%	8.34%
Book Value Per Share ¹	67.34	73.2	76.9	-	91.89	98.02	105.1	112.8
Change	-	8.71%	5.04%	-	-	6.67%	7.25%	7.32%
EPS ¹	10.48	10.81	4.5	8.93	5.31	8.6	10	10.8
Change	-	3.15%	-58.37%	98.44%	-40.54%	61.96%	16.28%	8%
Nbr of stocks (in thousands)	1,38,014	1,35,114	1,35,175	1,35,175	1,38,421	1,38,421	1,38,421	1,38,421
Announcement Date	27/05/21	25/05/22	30/05/23	26/07/24	16/05/25	-	-	-