SH Kelkar And Company Q2 FY27 Results: Consolidated Net Profit ₹15.22 Crore
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Reviewed byKeshav SehgalBlacklitt Research
SH Kelkar And Company (NSE: SHK) reported consolidated net profit of ₹15.22 crore on revenue from operations of ₹636.19 crore, and standalone total income of ₹350.15 crore with net profit of ₹1.65 crore, for the quarter ended 30 Sep 2026, it said in a filing on 02 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Revenue from operations: ₹636.19 crore, up 14.9% YoY and down 4.0% QoQ
- Net profit and EPS: ₹15.22 crore, up 66.0% YoY; basic EPS ₹1.10 against ₹0.66
- Exceptional item: Gain of ₹29.95 crore on an insurance claim for the Vashivali plant fire
Standalone
The company on its own, without its subsidiaries
- Total income: ₹350.15 crore, up 9.4% YoY and 3.4% QoQ
- Net profit and EPS: ₹1.65 crore, down 84.4% YoY; basic EPS ₹0.12 against ₹0.76
- Other income: ₹4.77 crore against ₹13.44 crore a year earlier
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 636.19 | 553.72 | +14.9% | 662.42 | -4.0% |
| 15.22 | 9.17 | +66.0% | 44.85 | -66.1% | |
| Profit before tax | 27.20 | 12.09 | +125.0% | 38.52 | -29.4% |
| Finance costs | 17.40 | 13.81 | +26.0% | 15.00 | +16.0% |
| Depreciation | 37.68 | 27.38 | +37.6% | 35.12 | +7.3% |
| Tax expense | 11.98 | 2.99 | +300.7% | 23.67 | -49.4% |
| EPS, basic (₹) | 1.10 | 0.66 | +66.7% | 3.28 | -66.5% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated profit grew faster than revenue. Net profit was ₹15.22 crore against ₹9.17 crore a year earlier, up 66.0%, while revenue from operations rose 14.9%. Profit before tax rose 125.0% to ₹27.20 crore, and tax of ₹11.98 crore takes 44.0% of that figure.
Finance costs of ₹17.40 crore equal 2.7% of revenue from operations this quarter, against ₹13.81 crore a year earlier. Depreciation rose 37.6% to ₹37.68 crore. Profit attributable to owners of the company was ₹10.51 crore, which is lower than the total net profit of ₹15.22 crore.
The statement shows an exceptional gain of ₹29.95 crore from an on-account insurance claim for the Vashivali plant fire, which the company presents as an exceptional item. The notes say the full and final settlement of the claim is pending with the insurance agency. The statement also shows a loss from discontinued operations of ₹0.66 crore for the quarter, and the notes say the sale of Keva Ventures Private Limited and its step-down subsidiary took effect on 1 Sep 2026 and is presented as discontinued operations.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 350.15 | 319.99 | +9.4% | 338.50 | +3.4% | |
| Revenue from operations | 345.38 | 306.55 | +12.7% | 337.05 | +2.5% |
| Other income | 4.77 | 13.44 | -64.5% | 1.45 | +229.0% |
| 1.65 | 10.60 | -84.4% | 15.21 | -89.2% | |
| Profit before tax | 1.31 | 10.38 | -87.4% | -9.62 | n/a |
| Finance costs | 8.64 | 6.85 | +26.1% | 7.10 | +21.7% |
| Depreciation | 8.97 | 7.23 | +24.1% | 7.80 | +15.0% |
| Tax expense | -0.34 | 0.52 | n/a | 5.12 | n/a |
| Net profit margin | 0.47% | 3.31% | -2.84 pp | 4.49% | -4.02 pp |
| EPS, basic (₹) | 0.12 | 0.76 | -84.2% | 1.10 | -89.1% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone total income rose 9.4%, but net profit fell 84.4% to ₹1.65 crore. Other income dropped 64.5% to ₹4.77 crore, while revenue from operations rose 12.7% to ₹345.38 crore. Other income was 1.4% of total income this quarter.
Profit before tax was ₹1.31 crore, down 87.4% from ₹10.38 crore. The statement shows a tax credit of ₹0.34 crore for the quarter, so net profit is higher than profit before tax. Finance costs of ₹8.64 crore rose 26.1% and are 2.5% of total income.
The standalone statement also shows an exceptional gain of ₹29.95 crore from the same insurance claim. The year-earlier quarter carried an exceptional item of ₹0.74 crore from a scrap sale. The notes say the company processed raw materials through its wholly owned subsidiary for the six months ended 30 Sep 2026, aggregating ₹196.87 crore, adjusted from both revenue and cost of materials consumed.
Inference
The filing reports that the Board re-appointed Deepak Raj Bindra, Vasant Gujarathi and Neela Bhattacherjee as Independent Directors for second five-year terms, subject to shareholder approval, and appointed Sumedha Karmarkar as an Additional Director from 3 Nov 2026, also subject to shareholder approval.
The notes state capital infusions of AED 22,50,000, equivalent to ₹5.83 crore, into Keva Middle East FZE on 17 Jun 2026 and 25 Aug 2026. The company also sold its 100% stake in Keva USA Inc. for ₹19.07 crore, concluded on 25 Aug 2026.
The filing does not give the reason for the change in consolidated net profit, the reason for the standalone tax credit, or the final amount and timing of the insurance settlement.
Filed with BSE on . Reference: Original filing (PDF)
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