S H Kelkar and Company (SHK) jumped 10.07% to Rs 166.15 after the company bagged an order in the home care segment from a large global MNC player in the domestic FMCG market.
Driven by robust R&D capabilities and innovation strategies, SHK is the only company of Indian origin to file patents in the field of fragrance and novel aroma molecules. These patented molecules along with SHK's strong & well known expertise in the Indian fragrance industry paved the way for this order win.
This strategic association will enhance the company's competitive advantage in the domestic markets and will enable SHK to build its presence in the high-potential global MNC space in the longer term.
On 22 July 2021, SHK had temporarily suspended operations at its unit in Mahad on account of unprecedented rains. The company had undertaken all necessary steps to resume operations at the earliest.
Accordingly, the company's operations and production activities at the Mahad unit have restarted in a calibrated manner from 1 September 2021 onwards. With business continuity plan implemented during the period, SHK continued to cater to customers' demands without any major disturbances.
The financial impact due to this disruption was nominal. This recommencement of operations follows receipt of all necessary approvals and is in line with the survey conducted by the insurance company.
SHK is the largest Indian-origin fragrance & flavour company. 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.
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The company's consolidated net profit surged to Rs 81.47 crore in Q1 FY22 from Rs 15.29 crore in Q1 FY21. Net sales during the quarter increased by 85.43% YoY to Rs 354.90 crore.
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