S H Kelkar and Company earnings calls.

SH Kelkar reported Q4 FY26 adjusted EBITDA of Rs 83Current reported value: 83. No comparable prior figure is available in the source record. crore at 13.5Current 13.5 crore vs previous available quarter 13 crore.% margin, with approximately Rs 35 crore of one-time low/negative margin product liquidation impacting results. The company is navigating a highly dynamic raw material environment where 40% of inputs are directly crude-linked, with material prices up 12-13%+ across the board. Management has taken structural steps to exit approximately Rs 50 crore of structurally low-margin business to protect portfolio quality. The Almare Netherlands Greenfield facility is now fully operational with ~Rs 10 million annual sales, while development centers in Germany, Manchester, and US represent Rs 80-85 crore annual investments with 3-4 year breakeven timelines. The Wasuli facility rebuild is delayed due to fire incident. Management expressed confidence in delivering Rs 300 crore+ EBITDA in FY27 with 10% annual debt reduction targets, though admitted the three-year outlook to 17% EBITDA margin has been deprioritized given near-term operational focus. FX contributed 3-3.5% to revenue growth. Key risk: raw material inflation could refract into Q1-Q2Current reported value: 2. No comparable prior figure is available in the source record. results despite current inventory coverage, and the US market remains highly competitive with only Rs 1 million contracted business to date.