S H Kelkar & Company announced that Nova Fragranze Srl (Italy), CFF Labs Srl, (Italy) and CFF Commerciale Srl (Italy) have been merged with Creative Flavours & Fragrances SpA (Italy). These companies are a part of Company's group companies. The merger simplifies the structure for operational synergy.

Nova, an Italy based company specializes in the fragrance development in hair care/ beauty care segments. CFF and its subsidiaries, CFF Labs and CFF Commerciale are engaged in fragrance development and have a strong presence in Europe.

Powered by Capital Market - Live News

White Organic Retail Ltd, Creative Eye Ltd, Asian Granito India Ltd and TruCap Finance Ltd are among the other losers in the BSE's 'B' group today, 03 February 2023.

S H Kelkar & Company Ltd tumbled 12.65% to Rs 121.9 at 14:32 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 44159 shares were traded on the counter so far as against the average daily volumes of 7671 shares in the past one month.

White Organic Retail Ltd crashed 10.00% to Rs 127.8. The stock was the second biggest loser in 'B' group.On the BSE, 91929 shares were traded on the counter so far as against the average daily volumes of 2.27 lakh shares in the past one month.

Creative Eye Ltd lost 7.95% to Rs 4.05. The stock was the third biggest loser in 'B' group.On the BSE, 4700 shares were traded on the counter so far as against the average daily volumes of 2662 shares in the past one month.

Asian Granito India Ltd shed 7.83% to Rs 40.6. The stock was the fourth biggest loser in 'B' group.On the BSE, 81152 shares were traded on the counter so far as against the average daily volumes of 63235 shares in the past one month.

TruCap Finance Ltd fell 7.74% to Rs 60.75. The stock was the fifth biggest loser in 'B' group.On the BSE, 1.33 lakh shares were traded on the counter so far as against the average daily volumes of 28848 shares in the past one month.

Powered by Capital Market - Live News

Net profit of S H Kelkar & Company declined 59.93% to Rs 12.97 crore in the quarter ended December 2022 as against Rs 32.37 crore during the previous quarter ended December 2021. Sales declined 3.34% to Rs 383.33 crore in the quarter ended December 2022 as against Rs 396.58 crore during the previous quarter ended December 2021.

Powered by Capital Market - Live News

As on 31 March 2022 PFW had a turnover of Rs 84.73 crore and net profit of Rs 10.57 crore.

Keva Europe BV is a wholly owned subsidiary of SH Kelkar and Company Limited and PFW Aroma Ingredients is a step down subsidiary of Keva EuropeBV. Hence the said companies are related to each other. The transaction has been done basis the valuation report procured by respective entities.None of the members of promoter and promoter group are interested in the said transaction.

The company has acquired 18,400 shares aggregating to EUR 53,83,000 of PFW. By virtue of this transaction, PFW which was earlier a step down subsidiary of Keva Europe B.V, is now a wholly owned subsidiary of Keva Europe B.V

The company said that purchase price of the shares shall be converted into a debt of the Keva Europe B.V towards Keva UK.

S H Kelkar & Company is engaged in the manufacture, supply and exports of fragrances and aroma ingredients.

The company's consolidated net profit rose 9.3% to Rs 24.29 crore on 15.1% jump in net sales to Rs 412.40 crore in Q2 FY23 over Q2 FY22.

The scrip rose 0.18% to Rs 140 on the BSE.

Powered by Capital Market - Live News