India's SH Kelkar and Co slides on downbeat Q3 update

S H Kelkar And

07/01/2025 07:25

** SH Kelkar and Company  SHKE.NS  slides as much as 9.1% to
225.3 rupees; last down 6.2%
    ** Fragrance and flavour co's Q3 gross margins hurt by
supply constraints of raw materials
    ** Says margins will likely remain under pressure till Q4
    ** Consol rev for nine months ended Dec. 31 up 17% y/y
    ** As of Dec. 31, net debt increased to ~7 bln rupees
(~$81.7 mln) due to ongoing inventory replenishment after the
fire in Q1 and capital expenditure related to facility in
Maharashtra
    ** Stock falls below 200-day simple moving avg after update
    ** Around 1.4 mln shares traded, 5.5x the 30-day avg
    ** SHKE down ~5.8% YTD; was up ~70% in 2024

($1 = 85.7100 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))