S H Kelkar and Company Limited

rs,

15, 2026 To The Manager The Department of Corporate Services BSE Limited Floor 25, P. J. Towers, Dalal Street, Mumbai – 400 001 To The Manager The Listing Department National Stock Exchange of

Rs. 2,368

ai 400 002. S H Kelkar announces Q4 & FY2026 results FY2026 *Revenue from operations stood at Rs. 2,368 cr, higher by 11.5% EBITDA stood at Rs. 242 cr Mumbai, May 15, 2026: S H Kelkar and Company Limit

11.5%

announces Q4 & FY2026 results FY2026 *Revenue from operations stood at Rs. 2,368 cr, higher by 11.5% EBITDA stood at Rs. 242 cr Mumbai, May 15, 2026: S H Kelkar and Company Limited (SHK), the large

Rs. 242

results FY2026 *Revenue from operations stood at Rs. 2,368 cr, higher by 11.5% EBITDA stood at Rs. 242 cr Mumbai, May 15, 2026: S H Kelkar and Company Limited (SHK), the largest Indian origin Fragranc

Rs. 2,368 crore

rch 31, 2026. FY26 performance overview compared with FY25   *Revenues from operations at Rs. 2,368 crore as against Rs. 2,123 crore, up by 11.5% **Adjusted EBITDA at Rs. 323 crore as against Rs. 335 cro

Rs. 2,123 crore

mance overview compared with FY25   *Revenues from operations at Rs. 2,368 crore as against Rs. 2,123 crore, up by 11.5% **Adjusted EBITDA at Rs. 323 crore as against Rs. 335 crore o **Adjusted EBITDA ma

Rs. 323 crore

s from operations at Rs. 2,368 crore as against Rs. 2,123 crore, up by 11.5% **Adjusted EBITDA at Rs. 323 crore as against Rs. 335 crore o **Adjusted EBITDA margin at 13.9% as against 15.9% Q4 FY26 performan

Rs. 335 crore

2,368 crore as against Rs. 2,123 crore, up by 11.5% **Adjusted EBITDA at Rs. 323 crore as against Rs. 335 crore o **Adjusted EBITDA margin at 13.9% as against 15.9% Q4 FY26 performance overview compared with

13.9%

11.5% **Adjusted EBITDA at Rs. 323 crore as against Rs. 335 crore o **Adjusted EBITDA margin at 13.9% as against 15.9% Q4 FY26 performance overview compared with Q4 FY25   *Revenues from oper

15.9%

d EBITDA at Rs. 323 crore as against Rs. 335 crore o **Adjusted EBITDA margin at 13.9% as against 15.9% Q4 FY26 performance overview compared with Q4 FY25   *Revenues from operations at Rs. 650

Rs. 650 crore

t 15.9% Q4 FY26 performance overview compared with Q4 FY25   *Revenues from operations at Rs. 650 crore as against Rs. 567 crore, up by 14.6% **Adjusted EBITDA at Rs. 83 crore as against Rs. 82 crore

Rs. 567 crore

ance overview compared with Q4 FY25   *Revenues from operations at Rs. 650 crore as against Rs. 567 crore, up by 14.6% **Adjusted EBITDA at Rs. 83 crore as against Rs. 82 crore o **Adjusted EBITDA marg

“We will continue to prioritise financial discipline, prudent capital allocation, and sustained improvement in operating performance.” 4 Q4 & FY26 – Revenue from Operations Highlights Revenue From Operations Gross Profit EBITDA** 2,368 * 2,123 979 917 650 * 567 254 234 335 297 323 242 83 60 82 73 Q4 FY26 Q4 FY25 FY26 FY25 Q4 FY26 Q4 FY25 FY26 FY25 Q4 FY26 Q4 FY25 FY26 FY25 Shift % (YoY) 14.6% 11.5% Shift % (YoY) 14.6% 11.5% Margins % 9.3% 13.0% 10.3% 14.1% Margins % #42.3% 41.5% #42.3% 43.4% Adj.”

“7 Global Ingredients – Q4 & FY26 Revenue 67 68 EBITDA 6.6 21 16 0.3 0.2 Q4 FY26 Q4 FY25 FY26 FY25 Q4 FY26 Q4 FY25 -1.4 FY26 FY25 Shift % (Y-o-Y) 27.8% -2.2% 7.3% NA  Global Ingredients segment recorded a softer performance, impacted by persistent geopolitical headwinds  Over the medium to long term, growth prospects remain favourable, supported by structural shifts in global supply chains”

“crore unless specified otherwise 8 Segmental Performance Region-wise Fragrance (excl Global Ingredients) Revenue Break-up – FY26 RoW, 21% Europe, 24% India, 55% Flavours Revenue Break-up – FY26 RoW, 44% India, 56% Revenue Y-o-Y Growth (%) India Europe Rest of the World (RoW) Total Growth Revenue Y-o-Y Growth (%) India Rest of the World (RoW) Total Growth FY26* 5.9% 6.5% 32.2% 10.4% FY26 26.5% 33.8% 29.6%”

“35 crore 3) **For FY25 and FY26 Adjusted EBITDA Margin excludes costs associated with growth-led strategic investments 11 Annexure 12 Consolidated Summarized P&L Statement Particulars (Rs.”

Note

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For further information please contact

2

About S H Kelkar and Company Limited

1

DISCLAIMER

1

CEO at SH Kelkar and Company Ltd. said

1

Note

  Revenue include one-off sale of Rs.35 crore undertaken as part of a portfolio optimization exercise. **EBITDA excluding other income, new initiatives & incremental Insurance costs. 1 Commenting on the Company’s strategic direction, Mr. Kedar Vaze, Whole Time Director & CEO at SH Kelkar and Company Ltd. said: “We delivered healthy revenue growth during FY2026 despite a dynamic operating environment. The performance was supported by sustained demand across key customer segments, continued momentum in the domestic business, and stable performance in our European operations. Over the past year, we have remained focused on strengthening the building blocks for the next phase of growth. Our investments towards expanding capacities, enhancing our global Creative Development Centres, and deepening customer engagement capabilities are progressing well and are aligned with our long-term strategic priorities. We believe these initiatives will further strengthen our ability to drive innovation

About S H Kelkar and Company Limited

S H Kelkar and Company Limited (SHK) is the largest Indian-origin Fragrance & Flavour Company in India. It has a long-standing reputation in the fragrance industry, developed over 100 years of experience. Its fragrance products and ingredients are used as a raw material in personal wash, fabric care, skin and hair care, fine fragrances and household products. Its flavour products are used as a raw material by producers of baked goods, dairy products, beverages and pharmaceutical products. The Company offers products under SHK, Cobra and Keva brands. The Company has a strong and dedicated team of scientists, perfumers, flavourists, evaluators and application executives at its facilities and five creation and development centres in India, Singapore, Amsterdam, Indonesia and Italy for the development of fragrance and flavour products. The research team has developed 10 molecules over the last four years. The Company has filed 20 patent applications in respect of molecules, systems and pro

For further information please contact

Investors Desk Anoop Poojari / Mit Shah S H Kelkar and Company Limited CDR India Tel: +91 22 2167 7777 Fax: +91 22 2164 9766 Tel: +91 98330 90434 Fax: +91 22 6645 1213 Email: investors@keva.co.in Email: anoop@cdr-india.com mit@cdr-india.com

DISCLAIMER

Certain statements and opinions with respect to the anticipated future performance of SHK in the press release (“forward-looking statements”), which reflect various assumptions concerning the strategies, objectives and anticipated results may or may not prove to be correct. Such forward-looking statements involve a number of risks, uncertainties and assumptions which could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These include, among other factors, changes in economic, political, regulatory, business or other market conditions. Such forward-looking statements only speak as at the date the press release is provided to the recipient and SHK is not under any obligation to update or revise such forward-looking statements to reflect new events or circumstances. No representation or warranty (whether express or implied) is given in respect of any information in this press release or that this press release is suita

CEO at SH Kelkar and Company Ltd. said

“We delivered steady revenue growth during FY2026 despite a dynamic operating environment. The performance was supported by sustained demand across key customer segments, continued momentum in the domestic business, and stable performance in our European operations. Over the past year, we have remained focused on strengthening the building blocks for the next phase of growth. Our investments towards expanding capacities, enhancing our global Creative Development Centres, and deepening customer engagement capabilities are progressing well and are aligned with our long-term strategic priorities. We believe these initiatives will further strengthen our ability to drive innovation-led growth across markets. The broader environment continues to remain fluid, influenced by evolving geopolitical developments and supply-side dynamics globally. Within this operating landscape, our strong customer relationships, diversified presence, and continued focus on strategic priorities provide a solid fo

Note

1) Figures in Rs. crore unless specified otherwise 2) *Revenue including ~Rs. 35 crore undertaken as part of a portfolio optimization exercise.3) #Gross margin adjusted for one-off sale of ~35 cr 4) **Adjusted EBITDA Margin excludes costs associated with growth-led strategic investments 5 Revenue Performance (excl Global Ingredients) – FY26 Q4 FY26 Q4 FY25 FY26 FY25 Fragrances 2,052 * 1,859 Flavour 240 185 Emerging Market * 1,810 1,621 Europe 482 424 564 * 492 63 57 * 488 437 138 111 Q4 FY26 Q4 FY25 FY26 FY25 Q4 FY26 Q4 FY25 FY26 FY25 Q4 FY26 Q4 FY25 FY26 FY25 Q4 FY26 Q4 FY25 FY26 FY25 Shift % (YoY) 14.7% 10.4% 10.9% 29.6% 11.8% 11.7% 24.2% 13.6% India 1,285 * 1,190 Europe 500 470 RoW 507 382 * 342 315 137 122 147 110 Q4 FY26 Q4 FY25 FY26 FY25 Q4 FY26 Q4 FY25 FY26 FY25 Q4 FY26 Q4 FY25 FY26 FY25 Shift % (YoY) 8.4% 8.0% 12.9% 6.4% 33.9% 32.5%