Q2 FY27 update: consolidated revenue Rs. 632.7 crore, up 15%; net debt Rs. 911 crore

S H Kelkar and Company Ltd shared a business update for Q2 FY 2026-27, for the quarter ended September 30, 2026.

Fri 9 Oct 2026

Consolidated Revenue (Q2 FY27)

Rs. 632.7 crore

Revenue Growth YoY

a growth of 15% over the same quarter last year

Net Debt

Rs. 911 crore as of September 30, 2026

What the company shared

• S H Kelkar and Company Ltd has issued a business update for Q2 FY 2026-27, covering the quarter ended September 30, 2026.
• The update is a set of operational and financial highlights for the quarter, and the company describes itself in the update as the largest Indian origin Fragrance and Flavours Company in India.

Revenue

• The company reported consolidated revenues of Rs. 632.7 crore for the quarter ended September 30, 2026.
• This reflects a growth of 15% compared to the corresponding quarter of the previous year.

Margins and operating environment

• Gross margins during the quarter are expected to remain broadly stable as compared to the corresponding quarter of the previous year.
• The company states that the external operating environment continues to remain challenging, with volatility across global supply chains and commodity markets leading to inflationary pressure, which is weighing on gross margins.
• It says it continues to closely monitor the operating environment while maintaining its focus on supply continuity, customer service levels and strengthening its underlying business platform, and that despite near-term pressures it remains focused on its strategic priorities and long-term growth objectives.

Net debt

• As of September 30, 2026, net debt stood at Rs. 911 crore.
• The company attributes this to continued investments towards capacity expansion and capabilities, along with working capital requirements.
• The stated focus remains on deleveraging over the medium to long term.

Status of the numbers

• The company states that the above financial information is based on provisional and unaudited consolidated financial results, subject to limited review by the Statutory Auditors of the Company.

How a reader may view it

• The update pairs a double-digit revenue growth figure with a mention of margin pressure from input and supply-chain costs, and quantifies the net debt position along with the company's stated deleveraging intent.
• Because the figures are described as provisional and unaudited, they are the company's own quarterly update numbers, with the reviewed results to follow separately.

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