Analysts/Institutional Investor Meet/Con. Call Updates

SHK delivered strong Q1 FY27: Revenue +14% to Rs. 662 Cr, EBITDA +21% to Rs. 89 Cr, margins at 13.4%. Flavours led growth (partly due to order timing), while India Fragrance was soft from exiting low-margin business and price corrections.

Global Ingredients saw lower demand.

Net debt hit Rs. 852 Cr from strategic inventory and capex.

Management anticipates double-digit revenue growth and improved margins for FY27, despite geopolitical caution.

European plant is operational, Vanvate factory by Q3. Debt expected to reduce from Q3. Focus is on R&D investments, customer intimacy, and expanding new markets like Europe/US with an aim for breakeven in 3 years.

Overall tone: Strategic growth despite macro caution.