Q4FY23 Quarterly & FY23 Annual Result Announced for S H Kelkar & Company Ltd.
Personal Products company S H Kelkar & Company announced Q4FY23 & FY23 results: Q4FY23: Revenues from operations at Rs 472.4 crore as against Rs 450.6 crore, higher by 4.8% Fragrance and Flavours revenues (excluding global ingredients) increased 5.2% to Rs 460 crore Emerging market sales (excluding global ingredients) at Rs 359 crore, up 7.7% EBITDA at Rs 74.6 crore as against Rs 68.5 crore EBITDA margin at 15.7% as against 14.9% PAT stood at Rs 1.1 crore as against Rs 13.6 crore Cash profit at Rs 52.7 crore as against Rs 45.8 crore FY23: Revenues from operations at Rs 1,686.5 crore as against Rs 1,564.2 crore, up 7.8% Fragrance and Flavours revenues (excluding global ingredients) increased 9.8% to Rs 1,631 crore Emerging markets (excluding global ingredients) sales stood at Rs 1,278 crore, registering a growth of 12.0% EBITDA at Rs 235.1 crore as against Rs 232.1 crore EBITDA margin at 13.8% vs 14.7% Reported PAT at Rs 63 crore as against Rs 149.4 crore Adjusted for one-offs, PAT stood at Rs 96.1 crore as against Rs 108.7 crore Cash Profit stood at Rs 176.6 crore as against Rs 180.5 crore Commenting on the performance, Kedar Vaze, Whole Time Director and Group CEO at SH Kelkar and Company said, “Our core Fragrance and Flavour divisions reported a stable performance over last year while operating in a subdued external environment. However, the Global Ingredient segment faced distinct challenges that contributed to an overall muted performance. On the other hand, the issues encountered by the Flavour division during the third quarter have since been resolved. The global Ingredient segment was impacted by raw material dependency on China, which has affected its competitiveness in the market. In order to address that the Company has developed processes for backward integration and is in the final stage of discussion to close the local sourcing of key raw materials. As we reach a momentous milestone of 100 years in our Company's history this fiscal year, we take tremendous pride in reflecting on our remarkable journey. While recent years have presented challenges, our firm belief in the potential of our business continues to drive us forward. Through the implementation of strategic measures and a steadfast focus on long-term goals, we are confident in our ability to steer our Company towards improved results in the years ahead. Despite the modest near-term outlook for the domestic FMCG industry, our active involvement in the RFP process with a global FMCG company places us in a promising position to outperform industry expectations in our core Fragrance division. Furthermore, the strength of our existing client base and our expanded global presence significantly contribute to our confidence in achieving sustainable business growth in the future.” Result PDF31-05-2023