S H Kelkar & Company Ltd (SHK): Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: July 26, 2025, 1:34 pm

Market Cap	3,626 Cr.
Current Price	262
High / Low	336/142
Stock P/E	38.0
Book Value	91.9
Dividend Yield	0.38 %
ROCE	10.3 %
ROE	7.68 %
Face Value	10.0
PEG Ratio	-3.07

Quick Insight

S H Kelkar & Company Ltd (SHK) currently trades at ₹262 with a market capitalization of ₹3,626 crore, reflecting a P/E ratio of 38.0, which suggests that investors expect significant growth despite its relatively modest return on equity (ROE) of 7.68% and return on capital employed (ROCE) of 10.3%. The company's operational efficiency is underscored by an operating profit margin (OPM) of 13% and a robust interest coverage ratio (ICR) of 6.49x, indicating strong earnings relative to its debt obligations. However, with borrowings of ₹832 crore against reserves of ₹1,134 crore, investors should be cautious about leverage. Given the diverse shareholder base—55.63% promoters, 7.54% FIIs, and 3.10% DIIs—SHK exhibits a stable ownership structure. Ultimately, while the stock presents a growth narrative, potential investors should weigh

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for S H Kelkar & Company Ltd (SHK)

Competitors of S H Kelkar & Company Ltd (SHK)

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Diamines & Chemicals Ltd	384 Cr.	392	650/305	141	165	0.64 %	3.31 %	1.76 %	10.0
Deco-Mica Ltd	31.7 Cr.	75.6	114/56.0	16.3	64.1	0.00 %	11.8 %	7.51 %	10.0
Andhra Sugars Ltd	1,089 Cr.	80.4	124/64.9	25.3	117	1.24 %	3.77 %	2.71 %	2.00
Tamil Nadu Petro Products Ltd	922 Cr.	102	111/63.6	20.7	101	1.17 %	6.89 %	5.04 %	10.0
SRF Ltd	92,963 Cr.	3,136	3,325/2,127	74.4	426	0.23 %	12.3 %	10.4 %	10.0
Industry Average	14,461.22 Cr	1,108.67		51.97	182.74	0.49%	11.40%	9.53%	7.60

All Competitor Stocks of S H Kelkar & Company Ltd (SHK)

Quarterly Result

Metric	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Sales	451	415	414	385	472	423	455	472	513	470	542	543	567
Expenses	391	360	363	341	405	355	384	396	424	392	462	480	494
Operating Profit	60	55	52	43	67	68	72	76	90	78	80	64	73
OPM %	13%	13%	12%	11%	14%	16%	16%	16%	17%	17%	15%	12%	13%
Other Income	3	1	9	2	-20	2	2	2	-0	-120	21	1	61
Interest	5	5	5	6	7	10	10	10	10	10	13	14	13
Depreciation	20	20	20	20	21	21	22	22	22	22	24	23	25
Profit before tax	37	31	35	19	19	39	41	46	57	-74	64	27	97
Tax %	64%	26%	28%	29%	94%	28%	27%	30%	42%	17%	38%	36%	-6%
Net Profit	14	23	25	13	1	28	30	32	33	-87	40	18	103
EPS in Rs	0.90	1.56	1.75	0.94	0.17	1.96	2.12	2.33	2.45	-6.25	2.87	1.27	7.41

Last Updated: May 31, 2025, 7:55 am

Below is a detailed analysis of the quarterly data for S H Kelkar & Company Ltd (SHK) based on the most recent figures (Mar 2025) and their trends compared to the previous period:

For Sales, as of Mar 2025, the value is 567.00 Cr.. The value appears strong and on an upward trend. It has increased from 543.00 Cr. (Dec 2024) to 567.00 Cr., marking an increase of 24.00 Cr..
For Expenses, as of Mar 2025, the value is 494.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 480.00 Cr. (Dec 2024) to 494.00 Cr., marking an increase of 14.00 Cr..
For Operating Profit, as of Mar 2025, the value is 73.00 Cr.. The value appears strong and on an upward trend. It has increased from 64.00 Cr. (Dec 2024) to 73.00 Cr., marking an increase of 9.00 Cr..
For OPM %, as of Mar 2025, the value is 13.00%. The value appears strong and on an upward trend. It has increased from 12.00% (Dec 2024) to 13.00%, marking an increase of 1.00%.
For Other Income, as of Mar 2025, the value is 61.00 Cr.. The value appears strong and on an upward trend. It has increased from 1.00 Cr. (Dec 2024) to 61.00 Cr., marking an increase of 60.00 Cr..
For Interest, as of Mar 2025, the value is 13.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 14.00 Cr. (Dec 2024) to 13.00 Cr., marking a decrease of 1.00 Cr..
For Depreciation, as of Mar 2025, the value is 25.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 23.00 Cr. (Dec 2024) to 25.00 Cr., marking an increase of 2.00 Cr..
For Profit before tax, as of Mar 2025, the value is 97.00 Cr.. The value appears strong and on an upward trend. It has increased from 27.00 Cr. (Dec 2024) to 97.00 Cr., marking an increase of 70.00 Cr..
For Tax %, as of Mar 2025, the value is -6.00%. The value appears to be improving (decreasing) as expected. It has decreased from 36.00% (Dec 2024) to -6.00%, marking a decrease of 42.00%.
For Net Profit, as of Mar 2025, the value is 103.00 Cr.. The value appears strong and on an upward trend. It has increased from 18.00 Cr. (Dec 2024) to 103.00 Cr., marking an increase of 85.00 Cr..
For EPS in Rs, as of Mar 2025, the value is 7.41. The value appears strong and on an upward trend. It has increased from 1.27 (Dec 2024) to 7.41, marking an increase of 6.14.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: July 22, 2025, 3:06 pm

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	761	834	925	981	1,021	1,048	1,114	1,322	1,564	1,687	1,841	2,123
Expenses	628	716	774	814	862	908	955	1,083	1,350	1,469	1,537	1,828
Operating Profit	132	119	151	167	159	141	160	239	215	217	304	296
OPM %	17%	14%	16%	17%	16%	13%	14%	18%	14%	13%	17%	14%
Other Income	12	25	10	12	13	21	-28	36	6	-8	5	-38
Interest	18	19	22	6	5	16	26	20	16	24	40	49
Depreciation	19	29	30	19	24	31	52	62	72	80	86	95
Profit before tax	109	94	110	153	143	115	54	194	132	104	183	114
Tax %	27%	26%	34%	31%	35%	24%	34%	26%	-13%	40%	32%	36%
Net Profit	79	70	73	105	94	88	36	144	149	63	124	73
EPS in Rs	5,980.35	5.32	5.05	7.25	6.49	6.12	2.53	10.24	10.73	4.42	8.84	5.29
Dividend Payout %	19%	28%	30%	24%	27%	0%	38%	17%	7%	45%	8%	19%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	-11.39%	4.29%	43.84%	-10.48%	-6.38%	-59.09%	300.00%	3.47%	-57.72%	96.83%	-41.13%
Change in YoY Net Profit Growth (%)	0.00%	15.68%	39.55%	-54.31%	4.09%	-52.71%	359.09%	-296.53%	-61.19%	154.54%	-137.95%

S H Kelkar & Company Ltd (SHK) has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	10%
5 Years:	14%
3 Years:	11%
TTM:	15%

Compounded Profit Growth
10 Years:	4%
5 Years:	11%
3 Years:	-15%
TTM:	-22%

Stock Price CAGR
10 Years:	%
5 Years:	29%
3 Years:	23%
1 Year:	34%

Return on Equity
10 Years:	11%
5 Years:	11%
3 Years:	8%
Last Year:	8%

Last Updated: Unknown

Balance Sheet

Last Updated: July 25, 2025, 2:27 pm

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	13	132	145	145	145	145	141	141	138	138	138	138
Reserves	467	368	571	667	712	719	683	810	875	926	1,074	1,134
Borrowings	212	252	85	74	172	342	365	518	698	620	666	832
Other Liabilities	169	187	201	187	246	222	277	405	568	518	502	556
Total Liabilities	861	939	1,003	1,073	1,275	1,427	1,466	1,874	2,279	2,202	2,381	2,660
Fixed Assets	251	274	227	296	352	462	472	741	959	914	933	953
CWIP	50	10	18	7	60	38	18	28	9	26	13	46
Investments	0	0	35	50	96	97	97	1	1	23	10	11
Other Assets	559	655	722	720	767	830	879	1,103	1,309	1,239	1,425	1,650
Total Assets	861	939	1,003	1,073	1,275	1,427	1,466	1,874	2,279	2,202	2,381	2,660

Below is a detailed analysis of the balance sheet data for S H Kelkar & Company Ltd (SHK) based on the most recent figures (Mar 2025) and their trends compared to the previous period:

For Equity Capital, as of Mar 2025, the value is 138.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 138.00 Cr..
For Reserves, as of Mar 2025, the value is 1,134.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,074.00 Cr. (Mar 2024) to 1,134.00 Cr., marking an increase of 60.00 Cr..
For Borrowings, as of Mar 2025, the value is 832.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 666.00 Cr. (Mar 2024) to 832.00 Cr., marking an increase of 166.00 Cr..
For Other Liabilities, as of Mar 2025, the value is 556.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 502.00 Cr. (Mar 2024) to 556.00 Cr., marking an increase of 54.00 Cr..
For Total Liabilities, as of Mar 2025, the value is 2,660.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 2,381.00 Cr. (Mar 2024) to 2,660.00 Cr., marking an increase of 279.00 Cr..
For Fixed Assets, as of Mar 2025, the value is 953.00 Cr.. The value appears strong and on an upward trend. It has increased from 933.00 Cr. (Mar 2024) to 953.00 Cr., marking an increase of 20.00 Cr..
For CWIP, as of Mar 2025, the value is 46.00 Cr.. The value appears strong and on an upward trend. It has increased from 13.00 Cr. (Mar 2024) to 46.00 Cr., marking an increase of 33.00 Cr..
For Investments, as of Mar 2025, the value is 11.00 Cr.. The value appears strong and on an upward trend. It has increased from 10.00 Cr. (Mar 2024) to 11.00 Cr., marking an increase of 1.00 Cr..
For Other Assets, as of Mar 2025, the value is 1,650.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,425.00 Cr. (Mar 2024) to 1,650.00 Cr., marking an increase of 225.00 Cr..
For Total Assets, as of Mar 2025, the value is 2,660.00 Cr.. The value appears strong and on an upward trend. It has increased from 2,381.00 Cr. (Mar 2024) to 2,660.00 Cr., marking an increase of 279.00 Cr..

Notably, the Reserves (1,134.00 Cr.) exceed the Borrowings (832.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Month		Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Cash from Operating Activity +	32	62	86	102	103	77	205	195	50	197	107	16
Cash from Investing Activity +	-62	-17	-77	-103	-162	-138	-42	-148	-134	-110	-84	-72
Cash from Financing Activity +	36	-7	-24	-16	28	49	-196	88	12	-175	8	99
Net Cash Flow	6	37	-14	-17	-31	-12	-33	135	-71	-88	32	43

Free Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	-80.00	-133.00	66.00	93.00	-13.00	-201.00	-205.00	-279.00	-483.00	-403.00	-362.00	-536.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	94	86	85	90	81	99	99	104	103	108	95	93
Inventory Days	234	255	252	239	247	233	239	201	216	225	228	231
Days Payable	77	80	76	116	78	104	86	103	125	143	138	125
Cash Conversion Cycle	252	261	261	213	250	228	252	202	195	190	185	199
Working Capital Days	156	157	146	152	148	152	178	149	143	157	145	147
ROCE %	17%	18%	14%	17%	19%	17%	12%	10%	15%	10%	8%	12%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoters	58.46%	58.46%	57.66%	58.47%	58.65%	58.95%	58.95%	58.95%	58.95%	58.75%	55.63%	55.63%
FIIs	9.33%	9.77%	9.54%	9.27%	9.30%	9.68%	8.33%	8.24%	8.86%	8.71%	9.40%	7.54%
DIIs	3.85%	3.82%	3.81%	3.74%	2.78%	1.37%	1.42%	1.27%	0.27%	0.27%	2.26%	3.10%
Public	26.01%	25.61%	26.65%	26.19%	26.92%	27.66%	31.28%	31.52%	31.92%	32.27%	32.72%	33.75%
Others	2.34%	2.34%	2.34%	2.34%	2.34%	2.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
No. of Shareholders	50,759	48,412	47,144	45,602	45,155	44,880	42,086	41,946	46,379	46,912	42,014	45,639

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Tata Small Cap Fund	1,663,248	0.41	25.91	1,663,248	2025-04-22 17:25:21	0%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	5.31	8.93	4.53	10.81	10.48
Diluted EPS (Rs.)	5.31	8.93	4.53	10.81	10.48
Cash EPS (Rs.)	12.22	15.38	10.37	15.98	14.52
Book Value[Excl.RevalReserv]/Share (Rs.)	91.89	87.72	79.66	79.01	67.55
Book Value[Incl.RevalReserv]/Share (Rs.)	91.89	87.72	79.66	79.01	67.55
Revenue From Operations / Share (Rs.)	153.40	139.43	121.84	113.00	93.54
PBDIT / Share (Rs.)	23.18	22.60	16.55	16.77	18.35
PBIT / Share (Rs.)	16.34	16.15	10.74	11.59	14.00
PBT / Share (Rs.)	8.39	13.17	7.55	9.55	13.68
Net Profit / Share (Rs.)	5.37	8.93	4.56	10.79	10.17
NP After MI And SOA / Share (Rs.)	5.29	8.84	4.42	10.73	10.24
PBDIT Margin (%)	15.11	16.21	13.58	14.84	19.61
PBIT Margin (%)	10.65	11.58	8.81	10.25	14.96
PBT Margin (%)	5.47	9.44	6.19	8.45	14.62
Net Profit Margin (%)	3.50	6.40	3.74	9.55	10.87
NP After MI And SOA Margin (%)	3.44	6.34	3.62	9.49	10.94
Return on Networth / Equity (%)	5.75	10.09	5.74	14.66	15.20
Return on Capital Employeed (%)	14.55	15.22	9.82	10.20	14.93
Return On Assets (%)	2.72	5.09	2.75	6.46	7.62
Long Term Debt / Equity (X)	0.13	0.14	0.29	0.35	0.34
Total Debt / Equity (X)	0.58	0.50	0.53	0.62	0.51
Asset Turnover Ratio (%)	0.83	0.83	0.74	0.55	0.60
Current Ratio (X)	1.39	1.46	1.70	1.70	1.82
Quick Ratio (X)	0.75	0.75	0.85	0.93	1.07
Inventory Turnover Ratio (X)	1.82	1.65	1.72	1.58	1.82
Dividend Payout Ratio (NP) (%)	0.00	22.61	16.96	7.13	9.76
Dividend Payout Ratio (CP) (%)	0.00	13.07	7.32	4.81	6.85
Earning Retention Ratio (%)	0.00	77.39	83.04	92.87	90.24
Cash Earning Retention Ratio (%)	0.00	86.93	92.68	95.19	93.15
Interest Coverage Ratio (X)	6.49	7.58	9.59	14.35	15.19
Interest Coverage Ratio (Post Tax) (X)	3.75	3.99	4.49	10.97	8.69
Enterprise Value (Cr.)	3118.96	3356.30	1912.25	2576.78	1935.94
EV / Net Operating Revenue (X)	1.47	1.74	1.13	1.65	1.46
EV / EBITDA (X)	9.72	10.73	8.35	11.10	7.46
MarketCap / Net Operating Revenue (X)	1.16	1.47	0.81	1.27	1.19
Retention Ratios (%)	0.00	77.38	83.03	92.86	90.23
Price / BV (X)	1.93	2.34	1.29	1.96	1.66
Price / Net Operating Revenue (X)	1.16	1.47	0.81	1.27	1.19
EarningsYield	0.02	0.04	0.04	0.07	0.09

After reviewing the key financial ratios for S H Kelkar & Company Ltd (SHK), here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 25, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 10.00.
For Basic EPS (Rs.), as of Mar 25, the value is 5.31. This value is within the healthy range. It has decreased from 8.93 (Mar 24) to 5.31, marking a decrease of 3.62.
For Diluted EPS (Rs.), as of Mar 25, the value is 5.31. This value is within the healthy range. It has decreased from 8.93 (Mar 24) to 5.31, marking a decrease of 3.62.
For Cash EPS (Rs.), as of Mar 25, the value is 12.22. This value is within the healthy range. It has decreased from 15.38 (Mar 24) to 12.22, marking a decrease of 3.16.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 91.89. It has increased from 87.72 (Mar 24) to 91.89, marking an increase of 4.17.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 91.89. It has increased from 87.72 (Mar 24) to 91.89, marking an increase of 4.17.
For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 153.40. It has increased from 139.43 (Mar 24) to 153.40, marking an increase of 13.97.
For PBDIT / Share (Rs.), as of Mar 25, the value is 23.18. This value is within the healthy range. It has increased from 22.60 (Mar 24) to 23.18, marking an increase of 0.58.
For PBIT / Share (Rs.), as of Mar 25, the value is 16.34. This value is within the healthy range. It has increased from 16.15 (Mar 24) to 16.34, marking an increase of 0.19.
For PBT / Share (Rs.), as of Mar 25, the value is 8.39. This value is within the healthy range. It has decreased from 13.17 (Mar 24) to 8.39, marking a decrease of 4.78.
For Net Profit / Share (Rs.), as of Mar 25, the value is 5.37. This value is within the healthy range. It has decreased from 8.93 (Mar 24) to 5.37, marking a decrease of 3.56.
For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 5.29. This value is within the healthy range. It has decreased from 8.84 (Mar 24) to 5.29, marking a decrease of 3.55.
For PBDIT Margin (%), as of Mar 25, the value is 15.11. This value is within the healthy range. It has decreased from 16.21 (Mar 24) to 15.11, marking a decrease of 1.10.
For PBIT Margin (%), as of Mar 25, the value is 10.65. This value is within the healthy range. It has decreased from 11.58 (Mar 24) to 10.65, marking a decrease of 0.93.
For PBT Margin (%), as of Mar 25, the value is 5.47. This value is below the healthy minimum of 10. It has decreased from 9.44 (Mar 24) to 5.47, marking a decrease of 3.97.
For Net Profit Margin (%), as of Mar 25, the value is 3.50. This value is below the healthy minimum of 5. It has decreased from 6.40 (Mar 24) to 3.50, marking a decrease of 2.90.
For NP After MI And SOA Margin (%), as of Mar 25, the value is 3.44. This value is below the healthy minimum of 8. It has decreased from 6.34 (Mar 24) to 3.44, marking a decrease of 2.90.
For Return on Networth / Equity (%), as of Mar 25, the value is 5.75. This value is below the healthy minimum of 15. It has decreased from 10.09 (Mar 24) to 5.75, marking a decrease of 4.34.
For Return on Capital Employeed (%), as of Mar 25, the value is 14.55. This value is within the healthy range. It has decreased from 15.22 (Mar 24) to 14.55, marking a decrease of 0.67.
For Return On Assets (%), as of Mar 25, the value is 2.72. This value is below the healthy minimum of 5. It has decreased from 5.09 (Mar 24) to 2.72, marking a decrease of 2.37.
For Long Term Debt / Equity (X), as of Mar 25, the value is 0.13. This value is below the healthy minimum of 0.2. It has decreased from 0.14 (Mar 24) to 0.13, marking a decrease of 0.01.
For Total Debt / Equity (X), as of Mar 25, the value is 0.58. This value is within the healthy range. It has increased from 0.50 (Mar 24) to 0.58, marking an increase of 0.08.
For Asset Turnover Ratio (%), as of Mar 25, the value is 0.83. There is no change compared to the previous period (Mar 24) which recorded 0.83.
For Current Ratio (X), as of Mar 25, the value is 1.39. This value is below the healthy minimum of 1.5. It has decreased from 1.46 (Mar 24) to 1.39, marking a decrease of 0.07.
For Quick Ratio (X), as of Mar 25, the value is 0.75. This value is below the healthy minimum of 1. There is no change compared to the previous period (Mar 24) which recorded 0.75.
For Inventory Turnover Ratio (X), as of Mar 25, the value is 1.82. This value is below the healthy minimum of 4. It has increased from 1.65 (Mar 24) to 1.82, marking an increase of 0.17.
For Dividend Payout Ratio (NP) (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 20. It has decreased from 22.61 (Mar 24) to 0.00, marking a decrease of 22.61.
For Dividend Payout Ratio (CP) (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 20. It has decreased from 13.07 (Mar 24) to 0.00, marking a decrease of 13.07.
For Earning Retention Ratio (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 40. It has decreased from 77.39 (Mar 24) to 0.00, marking a decrease of 77.39.
For Cash Earning Retention Ratio (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 40. It has decreased from 86.93 (Mar 24) to 0.00, marking a decrease of 86.93.
For Interest Coverage Ratio (X), as of Mar 25, the value is 6.49. This value is within the healthy range. It has decreased from 7.58 (Mar 24) to 6.49, marking a decrease of 1.09.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 3.75. This value is within the healthy range. It has decreased from 3.99 (Mar 24) to 3.75, marking a decrease of 0.24.
For Enterprise Value (Cr.), as of Mar 25, the value is 3,118.96. It has decreased from 3,356.30 (Mar 24) to 3,118.96, marking a decrease of 237.34.
For EV / Net Operating Revenue (X), as of Mar 25, the value is 1.47. This value is within the healthy range. It has decreased from 1.74 (Mar 24) to 1.47, marking a decrease of 0.27.
For EV / EBITDA (X), as of Mar 25, the value is 9.72. This value is within the healthy range. It has decreased from 10.73 (Mar 24) to 9.72, marking a decrease of 1.01.
For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 1.16. This value is within the healthy range. It has decreased from 1.47 (Mar 24) to 1.16, marking a decrease of 0.31.
For Retention Ratios (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 30. It has decreased from 77.38 (Mar 24) to 0.00, marking a decrease of 77.38.
For Price / BV (X), as of Mar 25, the value is 1.93. This value is within the healthy range. It has decreased from 2.34 (Mar 24) to 1.93, marking a decrease of 0.41.
For Price / Net Operating Revenue (X), as of Mar 25, the value is 1.16. This value is within the healthy range. It has decreased from 1.47 (Mar 24) to 1.16, marking a decrease of 0.31.
For EarningsYield, as of Mar 25, the value is 0.02. This value is below the healthy minimum of 5. It has decreased from 0.04 (Mar 24) to 0.02, marking a decrease of 0.02.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of S H Kelkar & Company Ltd (SHK) as of July 27, 2025 is: 215.38

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of July 27, 2025, S H Kelkar & Company Ltd (SHK) is Overvalued by 17.79% compared to the current share price 262.00

Intrinsic Value of S H Kelkar & Company Ltd (SHK) as of July 27, 2025 is: 188.73

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of July 27, 2025, S H Kelkar & Company Ltd (SHK) is Overvalued by 27.97% compared to the current share price 262.00

Last 5 Year EPS CAGR: -12.37%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has higher reserves (750.50 cr) compared to borrowings (403.00 cr), indicating strong financial stability. The company has shown consistent growth in sales (292.50 cr) and profit (125.42 cr) over the years.	The stock has a low average ROCE of 14.08%, which may not be favorable. The stock has a high average Working Capital Days of 152.50, which may not be favorable. The stock has a high average Cash Conversion Cycle of 224.00, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in S H Kelkar & Company Ltd (SHK):
1. Net Profit Margin: 3.5%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 14.55% (Industry Average ROCE: 11.4%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 5.75% (Industry Average ROE: 9.53%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 3.75
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 0.75
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 38 (Industry average Stock P/E: 51.97)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.58
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

S H Kelkar & Company Ltd. is a Public Limited Listed company incorporated on 01/07/1955 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L74999MH1955PLC009593 and registration number is 009593. Currently Company is involved in the business activities of Manufacture of organic and inorganic chemical compounds. Company's Total Operating Revenue is Rs. 1137.47 Cr. and Equity Capital is Rs. 138.42 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Personal Care	Devkaran Mansion, Mumbai Maharashtra 400002	investors@keva.co.in https://www.keva.co.in

Management
Name	Position Held
Mr. Ramesh Vaze	Chairman & Non-Exe.Director
Mr. Kedar Vaze	WholeTime Director & Group CEO
Mrs. Prabha Vaze	Non Executive Director
Mr. Deepak Raj Bindra	Independent Director
Mr. Shrikant Oka	Independent Director
Mr. Vasant Gujarathi	Independent Director
Ms. Neela Bhattacherjee	Independent Director

FAQ

What is the intrinsic value of S H Kelkar & Company Ltd (SHK)?

S H Kelkar & Company Ltd (SHK)'s intrinsic value (as of 26 July 2025) is 215.38 17.79% lower the current market price of 262.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's 3,626 Cr. market cap, FY2025-2026 high/low of 336/142, reserves of 1,134 Cr, and liabilities of 2,660 Cr.

What is the Market Cap of S H Kelkar & Company Ltd (SHK)?

The Market Cap of S H Kelkar & Company Ltd (SHK) is 3,626 Cr..

What is the current Stock Price of S H Kelkar & Company Ltd (SHK) as on 26 July 2025?

The current stock price of S H Kelkar & Company Ltd (SHK) as on 26 July 2025 is 262.

What is the High / Low of S H Kelkar & Company Ltd (SHK) stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of S H Kelkar & Company Ltd (SHK) stocks is ₹336/142.

What is the Stock P/E of S H Kelkar & Company Ltd (SHK)?

The Stock P/E of S H Kelkar & Company Ltd (SHK) is 38.0.

What is the Book Value of S H Kelkar & Company Ltd (SHK)?

The Book Value of S H Kelkar & Company Ltd (SHK) is 91.9.

What is the Dividend Yield of S H Kelkar & Company Ltd (SHK)?

The Dividend Yield of S H Kelkar & Company Ltd (SHK) is 0.38 %.

What is the ROCE of S H Kelkar & Company Ltd (SHK)?

The ROCE of S H Kelkar & Company Ltd (SHK) is 10.3 %.

What is the ROE of S H Kelkar & Company Ltd (SHK)?

The ROE of S H Kelkar & Company Ltd (SHK) is 7.68 %.

What is the Face Value of S H Kelkar & Company Ltd (SHK)?

The Face Value of S H Kelkar & Company Ltd (SHK) is 10.0.