S H Kelkar Q1 net rises 41% to Rs 28 cr

S H Kelkar & Company, one of the biggest players in fragrance and flavour business, today reported 41.3% jump in net profit to Rs 27.5 crore for the first quarter ended June 30.

The company's net profit's stood at Rs 19.5 crore in the same period last year.

Total income grew 15.7% to Rs 255.9 crore in the April-June quarter from Rs 221.1 crore in the same period last year, a company statement said here.

"We have begun the financial year on a strong note with healthy performance in both fragrance and flavours businesses. Top-line growth was primarily driven by the domestic market, which grew by 21%. The results also reinforce the operating leverage in our business with profitability growing at a much faster pace than revenues," S H Kelkar Chief Executive Officer Kedar Vaze said.

"We are focusing on expanding our market share and increasing investments in R&D to drive product innovation. We continue to evaluate strategic opportunities on the back of our strong balance sheet which should enable us to deliver sustainable growth going forward," Vaze said.

The city-based S H Kelkar, which launched its IPO in October, is in the business of fragrances, flavours and aroma chemicals. It has four manufacturing facilities, three of them in India (Mumbai, Vapi and Raigad) and one in the Netherlands.

The firm's fragrance products and ingredients are used as raw material in personal wash, fabric care, skin and hair care, fine fragrances and household products.