S.H. Kelkar Ltd


(Pavas) #21

Curiously this valuation also gets promoter stake to ~75% …the permissible limit…


(Pankaj) #22

Thanks Mahesh. I agree that valuations are not exorbitant.


(Kiran K) #23

@Mahesh and members tracking,
Any reason why the working capital is stretched over the years ? (data from screener)


(Mahesh Shah) #24

There seems to be some inaccuracy in data posted by you. Do refer prospectus/past consolidated ARs of SHK to arrive at figures and they seem to be more or less stable over last many years. The nature of the industry is such that the company has to hold on to a large inventory of varied RMs as each F&F blend is composed of multi ingredients mixed in minuscule proportions.

Rgds.

Discl. - Not Invested in SHK


(Kiran K) #25

@Mahesh Yes. There was some inconsistency in the data I extracted from sceener. Got the below data from RHP. Thanks


(kaustubhkale) #26

Attached are my notes from annual report (posting link, since jotted too many points):

Disclosure: Invested


(rkrish1) #27

Hi Kaustubhkale,
would like to know on SH Kelkar,last week Kedar Vaze Reuduced his holdings.Any idea?
what is going on SH Kelkar.

Thanks,
Venkat.


(kaustubhkale) #28

Yes saw that he reduced his holding. Stock price has done nothing in the last many quarters, in-line with company. I am not adding more, but continue to hold existing holdings. Wondering whether it is a case of good company, great business and not so good management (not saying from CG perspective, but from managing the business perspective). Can be a case where mgmt is not mcap hungry also. Will have to watch and wait. Can tolerate mistakes, but not mischief. I am pretty sure this is not a case of mischief.