S H Kelkar Q4FY26 sales jump 21% YoY to ₹336 cr

Key numbers from the March 2026 update

S H Kelkar and Company Ltd. reported higher sales for the March 2026 quarter, with both standalone and consolidated numbers showing year-on-year growth. The standalone metric highlighted in the update was net sales of ₹336.43 crore for March 2026, up 20.86% from the year-ago quarter. On a consolidated basis, March 2026 net sales were reported at ₹649.94 crore, up 14.55% year-on-year. The updates were timestamped on May 18, 2026, with separate entries for standalone and consolidated performance.

The company’s stock price and valuation metrics were also cited alongside the financial update. S H Kelkar’s last traded price was ₹132.89, and the note specified the price was down 1.20% from the previous share price of ₹134.46. The stock was stated to be trading at a P/E of 38.1, with a market capitalisation of ₹1,869 crore. These figures provide context on how the market was valuing the company around the time of the disclosure.

Standalone performance: Q4FY26 revenue from operations

For the standalone business, the update specifically called out revenue from operations for Q4FY26. Revenue from operations for Q4FY26 was ₹336.43 crore, compared with ₹278.37 crore in Q4FY25. That translates into a year-on-year increase of 20.86%.

While the dataset provided focuses on the topline figure, the directional takeaway is clear: the standalone business grew at a faster pace than the consolidated March 2026 net sales growth rate mentioned in the same update. Investors typically use this split to understand whether growth is being driven primarily by the domestic standalone operations or by the broader group’s consolidated footprint.

Consolidated March 2026 net sales: growth continues

On the consolidated side, March 2026 net sales were reported at ₹649.94 crore, up 14.55% year-on-year. This consolidated figure is also reflected in the quarterly results table that lists total revenue for the fiscal period “Mar 26” at ₹649.94 crore.

The quarterly table included a “Total Revenue” line item with multiple periods for comparison, including “Jun 25” at ₹580.63 crore and “Jun 24” at ₹470.31 crore. The table also displayed a “YoY Comp” of 23.46% (for Jun 25 versus Jun 24) and a “QoQ Comp” value of 2.34% in the same row. Separately, the text also stated that revenue stood at ₹580.63 crore, reflecting a quarter-on-quarter increase of 2.34% from ₹567.38 crore, and a year-on-year growth of 23.46%.

What management said about Q1FY26 and disruption base

A management comment attributed to Kedar Vaze, Whole Time Director and Group CEO, referenced consolidated revenue for Q1FY26 and the impact of a prior disruption. He said the company reported consolidated revenue of ₹579 crore in Q1FY26 and achieved growth of approximately 14.8% over the H1FY25 average, noting that a fire-related disruption impacted Q1FY25.

This comment is relevant for interpreting growth rates because it flags that the year-ago base period was not a normal operating quarter. When disruptions affect the base, year-on-year growth comparisons can look stronger than they would under steady conditions, even when current-quarter execution is solid.

Additional topline figures cited in the update

Beyond the main standalone and consolidated March 2026 numbers, the provided text included other revenue references. It stated the company “reported a revenue earned of ₹583 crore.” It also included a line reading “Revenues (Q1 FY26): ₹574 crores, achieving 14% growth.” Another standalone-looking figure appeared as “₹340.28Cr.”

Because these figures were presented without full reconciliation in the supplied extract, they are best read as additional data points cited in the same information bundle rather than a single, standardised disclosure. The clearer, labelled metrics in the extract remain the standalone Q4FY26 revenue from operations of ₹336.43 crore and the consolidated March 2026 net sales of ₹649.94 crore.

Market view and demand commentary

The update also carried a brief demand outlook line: India and Asia markets were expected to continue steady growth, with strong demand in India and the Middle East. While this is not a quantified guidance statement in the provided text, it indicates the company sees supportive conditions in its key markets.

For investors, such commentary is typically evaluated alongside quarterly revenue progression to assess whether demand conditions are translating into reported sales, and whether any one-time events are still influencing comparisons.

Stock price snapshot and valuation metrics

The stock price snapshot in the extract provides a time-bound reference for market reaction. S H Kelkar’s share price was ₹132.89 as on May 29, 2026 at 03:58 PM IST. It was reported to be down 1.20% versus the previous share price of ₹134.46.

Valuation metrics in the same extract stated the stock trades at a P/E of 38.1 and has a market cap of ₹1,869 crore. These numbers are commonly used by investors to compare valuation with peers and with the company’s own historical trading multiples, though the extract does not provide peer comparisons.

Summary table: key reported data points

Company contact details cited

The extract also included the company’s listed contact coordinates. Address: Devkaran Mansion, 36, Mangaldas Road, Mumbai, Maharashtra 400002. Telephone: 022-22069609. Fax: 022-22081204. Email: investors@keva.co.in.

Why the update matters

The March 2026 numbers show continued topline growth on both standalone and consolidated bases, with standalone growth (20.86% YoY) exceeding the consolidated growth rate (14.55% YoY) cited for the same period. The management comment about fire-related disruption affecting Q1FY25 is important context when interpreting growth and comparing performance across quarters.

Going forward, investors will likely track how the steady demand commentary for India, Asia, and the Middle East maps into the next set of reported quarterly revenues, and whether disclosures continue to normalise after disruption-led base effects.