S H Kelkar and Company Limited Expands European Operations with New Subsidiary in Germany

On June 4, 2024, S H Kelkar and Company Limited informed in a stock exchange filing that the company’s wholly-owned subsidiary, Keva Europe B.V., has incorporated a company in Germany. The newly incorporated company, namely Keva Germany GmbH, is the wholly owned subsidiary of Keva Europe B.V., and it has been registered in the German Trade Register (Chamber of Commerce).

Keva Europe B.V., established in 2019, operates in the essential oils manufacturing industry. The authorised share capital of Keva Germany GmbH is Euro 25,000.00 (Euro Twenty Five Thousand Only). The company was registered on May 7, 2024, in Germany. It will belong to the industry of Fragrance & Flavour (F&F).

The objective of the incorporation of a wholly owned subsidiary is to set up a Creative Development Centre (CDC) to service European operations and to offer support to Dubai and Middle East businesses.

The stock exchange filing also stated that there is no direct investment by S H Kelkar and Company Limited.

Earlier this year, in March 2024, the Board of Directors of S H Kelkar and Company Limited approved an equity investment in a wholly-owned subsidiary. The approved investment is USD 7 million at a premium of USD 7.68 per equity share in Keva Fragrance Industries Pte. Ltd, by way of subscribing to the company’s ordinary equity shares. The aforementioned investment is to aid the capital requirements of a newly established factory in Indonesia, which would cater to the company’s commitment to grow in the Southeast Asian region.

These developments show that S H Kelkar and Company Limited is expanding internationally by incorporating subsidiaries in Germany and Indonesia, enhancing operations in Europe, Dubai, and the Middle East, and growing in Southeast Asia.

In the last financial year, the company even incorporated a wholly-owned subsidiary, Keva USA Inc. This is to assess the potential of the U.S. market and capitalise on the portfolio of products, such as patented molecules. S H Kelkar and Company Limited strives to cater to the local customer base accordingly. Over the next 4-5 years, they aim to build a strong base in the U.S. market that will drive future growth.

About S H Kelkar and Company Limited

S H Kelkar and Company Limited (SHK) is India’s prominent fragrance and flavour company of Indian origin, with over 100 years of experience in the industry. The company provides fragrance products and ingredients for personal wash, fabric care, skin and hair care, fine fragrances, and household items. Its flavour products are essential raw materials for producers of baked goods, dairy products, beverages, and pharmaceuticals. The company’s products are marketed under the SHK, Cobra, and Keva brands.

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