S H Kelkar and Company Limited

BSE:539450 Stock Report

Market Cap: ₹23.5b

S H Kelkar Management

Management criteria checks 2/4

S H Kelkar's CEO is Kedar Vaze, appointed in Sep 2014, has a tenure of 11.17 years. total yearly compensation is ₹30.00M, comprised of 82.3% salary and 17.7% bonuses, including company stock and options. directly owns 12.14% of the company’s shares, worth ₹2.85B. The average tenure of the management team and the board of directors is 1.3 years and 5.7 years respectively.

Key information

Kedar Vaze

Chief executive officer

₹30.0m

Total compensation

CEO salary percentage82.33%
CEO tenure11.2yrs
CEO ownership12.1%
Management average tenure1.3yrs
Board average tenure5.7yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Kedar Vaze's remuneration changed compared to S H Kelkar's earnings?
DateTotal CompensationSalaryCompany Earnings
Sep 30 2025n/an/a

₹2b

Jun 30 2025n/an/a

₹2b

Mar 31 2025₹30m₹25m

₹743m

Dec 31 2024n/an/a

₹70m

Sep 30 2024n/an/a

₹220m

Jun 30 2024n/an/a

₹109m

Mar 31 2024₹49m₹22m

₹1b

Dec 31 2023n/an/a

₹910m

Sep 30 2023n/an/a

₹718m

Jun 30 2023n/an/a

₹668m

Mar 31 2023₹28m₹20m

₹612m

Dec 31 2022n/an/a

₹714m

Sep 30 2022n/an/a

₹908m

Jun 30 2022n/an/a

₹887m

Mar 31 2022₹35m₹19m

₹1b

Dec 31 2021n/an/a

₹2b

Sep 30 2021n/an/a

₹2b

Jun 30 2021n/an/a

₹2b

Mar 31 2021₹29m₹15m

₹1b

Dec 31 2020n/an/a

₹1b

Sep 30 2020n/an/a

₹710m

Jun 30 2020n/an/a

₹325m

Mar 31 2020₹17m₹13m

₹357m

Dec 31 2019n/an/a

₹426m

Sep 30 2019n/an/a

₹749m

Jun 30 2019n/an/a

₹883m

Mar 31 2019₹17m₹13m

₹885m

Compensation vs Market: Kedar's total compensation ($USD338.61K) is above average for companies of similar size in the Indian market ($USD187.15K).

Compensation vs Earnings: Kedar's compensation has been consistent with company performance over the past year.

CEO

Kedar Vaze (52 yo)

11.2yrs
Tenure
₹30,000,000
Compensation

Mr. Kedar Ramesh Vaze has been Group Chief Executive Officer and Whole-Time Director of S H Kelkar and Company Limited since September 18, 2014 and September 04, 2010 respectively. Mr. Vaze has experience...

Leadership Team

NamePositionTenureCompensationOwnership
Kedar Vaze
Group CEO & Whole-Time Director11.2yrs₹30.00m12.14%
₹ 2.9b
Deepti Chandratre
Interim CFOless than a year₹1.08mno data
Avani Mainkar
Chief Scientific Officer5.8yrsno datano data
Swapneel Kore
Chief Information Officer2.5yrsno datano data
Amit Gulati
Chief Operating Officer of Asia Fragrance & Flavoursless than a yearno datano data
Medha Bhagat
Executive VP of Fragrance Asia Corporate & Global Accounts1.8yrsno datano data
Vivek Kulkarni
Executive Vice President of Ingredients Divisionless than a yearno datano data
Natarajan Krishnan
Chief Executive Officer - Keva Flavours Private Limitedless than a yearno datano data
1.3yrs
Average Tenure

Experienced Management: 539450's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.

Board Members

NamePositionTenureCompensationOwnership
Kedar Vaze
Group CEO & Whole-Time Director15.2yrs₹30.00m12.14%
₹ 2.9b
Neela Bhattacherjee
Non-Executive Independent Director3.5yrs₹1.30mno data
Vasant Gujarathi
Non-Executive Independent Director3.8yrs₹1.60mno data
Ramesh Vaze
Non-Executive Chairman44.8yrs₹500.00k21.61%
₹ 5.1b
Prabha Vaze
Non-Executive Non-Independent Director45.1yrs₹200.00k1.3%
₹ 305.0m
Deepak Bindra
Non-Executive Independent Director3.9yrs₹700.00kno data
Shrikant Oka
Non-Executive Independent Director7.5yrs₹1.40mno data
Pallavi Gokhale
Additional Non-Executive Non-Independent Directorless than a yearno datano data
5.7yrs
Average Tenure
70.5yo
Average Age

Experienced Board: 539450's board of directors are considered experienced (5.7 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/17 09:48
End of Day Share Price 2025/11/14 00:00
Earnings2025/09/30
Annual Earnings2025/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

S H Kelkar and Company Limited is covered by 10 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullAsian Markets Securities Private Limited
Anil BurraFirstCall Research
Richard LiuJM Financial Institutional Securities Limited