S H KELKAR AND CO. LTD.

S H Kelkar & Company Limited was incorporated on July 1, 1955 in Mumbai. After incorporation, the Company took over businesses carried on by Mr. V.G. Vaze as a sole proprietor of M/s S.H. Kelkar & Co and in partnership by the Firm 'M/s Saraswati Chemical Works'. The Company is engaged into manufacture, supply and exports of fragrances and aroma ingredients used in the food, beverage, personal care or household product industries. The Company has a diverse and large client base including leading national and multinational FMCG companies, blenders of fragrances & flavours and fragrance & flavour producers. The Company operate 2 business segments, fragrance and flavours segment and also has global ingredients business segment. The Company's strength is its capability to provide innovative and customised products created by the proficient team of specialised perfumers at the creative development centres in India, Singapore and Europe. The company established First manufacturing unit at Vapi in 1979. During the year 2007, the company commissioned a manufacturing unit at Vashivali. During 2014 and 2015, the company has received numerous awards for Best Performance in quality, for Best HR strategy in Line with Business and also award for 'Dream Companies to Work For (Manufacturing)' at the Dream Companies to Work For Awards. The company created a new brand identity of 'KEVA' which was launched during the financial year ended 31 March 2016. In October 2015, the company successfully completed an Initial public issue of 28,231,827 equity shares of face value Rs 10 each for cash at a price of Rs 180 per equity share (including a share premium of Rs 170 per equity share) aggregating Rs 5,081.73 million consisting of a fresh issue of 11,666,666 equity shares by the Company and an offer for sale of 13,141,000 equity shares, 86,575 equity shares and 3,337,586 equity shares by Blackstone Capital Partners (Singapore) VI FDI Two Pte. Ltd., Blackstone Family Investment Partnership (Singapore) VI-ESC FDI Two Pte. Ltd. and Mrs. Prabha Vaze. The shares of company got listed on BSE Limited (BSE) and National Stock Exchange of India Limited (NSE) on 16 November 2015. Rasiklal Hemani Agencies Pvt. Ltd. (RHAPL) was acquired by the Company on April 2, 2016 to strengthen its base in the northern region and reach closer to the customers. RHAPL has been the indenting agents in Northern region for Company's fragrances for 50 years. Through deep industry knowledge and wide network of trade contacts of its promoters, RHAPL has over the years built a strong portfolio of customers for the Company's fragrances. The acquisition will aid in expansion of the marketing and field activities in Northern region in coming years. During the financial year ended 31 March 2017, Keva forayed into Fine Fragrances. For Fine Fragrances, it intends to increase growth by focusing on fast growing end-market customers. During the year under review, S H Kelkar & Company acquired part of the ingredients technology from PFW Aroma Ingredients BV. As part of S H Kelkar & Company's long term strategy all the technologies and IP of the group will reside in the company. During the year under review, the company acquired the Business Undertaking of High-Tech Technologies comprising of Flavours Division through its subsidiary Keva Flavours Pvt. Ltd. The acquisition helped Keva power its flavours portfolio throughout the regions in which it operates and thus, expand of Keva's presence in the Flavours business. During the year under review, Keva Fragrances Pvt. Ltd. ('Transferor Company'), a wholly-owned subsidiary of the Company got amalgamated with K V Arochem Private Limited ('Transferee Company'), a wholly-owned subsidiary of the Company pursuant to the Scheme of Amalgamation (the 'Scheme') sanctioned by the Honorable High Court of Bombay vide its order dated 22 September 2016. Thereafter, the name of the Transferee Company was changed to Keva Fragrances Pvt. Ltd.' with effect from 14 December 2016. The objective of merger was to enable optimal utilisation of existing resources through consolidation of operations into a single legal entity, provide an opportunity to leverage and pool skilled and experienced manpower of the respective companies and derives operational and financial synergies through prudent financial management and cost reduction. On April 24, 2017, S H Kelkar & Company, through Keva Chemicals Pvt. Ltd. ('KCPL'), step-down subsidiary of the Company, acquired Fragrance Encapsulation Technology from Tanishka Fragrance Encapsulation Technologies LLP ('TFET LLP'). As a part of the transaction, KCPL has also contributed to the capital of TFET LLP on the said date and thus, has become a majority capital contributing partner in TFET LLP. The unique technology has enhanced Keva's technological infrastructure and would enable the company to offer differentiated fragrance products especially in fabric care which is a fast-growing area in which Keva's unique capabilities would give it a solid competitive edge. S H Kelkar and Company, through its subsidiary Keva Fragrances Pvt. Ltd., acquired VN Creative Chemicals Pvt. Ltd. ('VNCC') on September 29, 2017. The company entered into an agreement to acquire Creative Flavours and Fragrances S.p.A. ('CFF') along with its subsidiaries on January 15, 2018. The company through its subsidiary Keva Fragrance Industries Pte. Ltd., acquired 90% stake in Anhui Ruibang Aroma Co. Ltd. on May 25, 2018. In 2018-19, a new herbal extraction manufacturing facility was set-up by Keva at Vapi. The aroma ingredients manufacturing facility at Mahad, Maharashtra commissioned during the year. Keva ventured into xtension of its BSP (Branded Small Packs) Segment by launching an extensive portfolio of roll-ons in the retail market. It also launched new range of food flavours under a new brand - Auris. The Company, through its subsidiary Keva Fragrances Pvt. Ltd., acquired 50% equity stake in Purandar Fine Chemicals Pvt. Ltd on November 01, 2018. The Company incorporated a wholly owned subsidiary, in the name of Keva Europe B.V., in The Netherlands on April 02, 2019. The Company's flavours business launched new formats like Granulz and Seasoning in 2020. In 2022, the Company acquired businesses namely, Creative Flavours and Fragrances Spa, Nova Fragranze Srl, and Holland Aromatics BV, delivered robust performance led by improved demand and volume off-take in the Italian and European markets. The Company also acquired Holland Aromatics BV to further strengthen its position in the European market in 2024. Company created a milestone with the commissioning a new Creative Development Centre (CDC) in Germany during the year 2025.