General Updates

October 09, 2026 To To The Manager The Manager The Department of Corporate Services The Listing Department BSE Limited National Stock Exchange of India Limited Floor 25, P. J. Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai – 400 001 Bandra (East), Mumbai – 400 051 Scrip Code: 539450 Scrip Symbol: SHK Dear Sir / Madam, Sub: Business Update – Q2 FY 2026-27 Please find enclosed herewith business update for Q2 FY 2026-27 of the Company for your information and record. Thanking you, Yours faithfully, For S H Kelkar and Company Limited Deepti Chandratre Global Legal Counsel and Company Secretary Encl: As above S H Kelkar and Company Limited Corporate Office: L.B.S Marg, Near Balrajeshwar Temple, Mulund (W), Mumbai – 400080 Registered Office: Devkaran Mansion, 36, Mangaldas Road, Mumbai 400 002. Mumbai, October 09, 2026: S H Kelkar and Company Ltd (SHK), the largest Indian origin Fragrance and Flavours Company in India, would like to share the following business update for Q2 2027. Operational Update:  The Company reported consolidated revenues of Rs. 632.7 crore for the quarter ended September 30, 2026, reflecting a growth of 15% compared to the corresponding quarter of the previous year.  Gross margins during the quarter are expected to remain broadly stable as compared to corresponding quarter previous year. The external operating environment continues to remain challenging, with volatility across global supply chains and commodity markets leading to inflationary pressure, which is weighing on gross margins.  The Company continues to closely monitor the operating environment while maintaining its focus on supply continuity, customer service levels, and strengthening its underlying business platform. Despite the near-term pressures, the Company remains focused on its strategic priorities and long-term growth objectives.  As of September 30, 2026, net debt stood at Rs. 911 crore, reflecting continued investments towards capacity expansion and capabilities, along with working capital requirements. The focus remains on deleveraging over the medium to long term.  The above financial information is based on provisional and unaudited consolidated financial results, subject to limited review by the Statutory Auditors of the Company.