Date: July 01, 2026

General Disclosures

Corporate Details:

  • Corporate Identity Number (CIN): L74999MH1955PLC009593
  • Year of Incorporation: 1955
  • Corporate Office: S H Kelkar and Company Limited, LBS Marg, Mulund (West), Mumbai - 400080
  • Contact: investors@keva.co.in, +91 22 6606 7777
  • Paid-up Capital: ₹138,42,08,010/-
  • Reporting Boundary: Standalone basis (includes locations with operational control)

Business Activities:

  • Single business activity accounting for 100% of turnover: Manufacture, supply and export of fragrances and flavours including aroma & natural ingredients (NIC Code: 20119).

Operations:

  • 15 national locations (1 plant, 14 offices). No international locations within reporting boundary (international operations conducted through subsidiaries).
  • Markets served: 28 states & 8 Union Territories nationally; 12 countries internationally (via subsidiaries).
  • Export contribution: 2.95% of total turnover.
  • Customer base: Leading national and multinational FMCG companies, fragrance and flavour blenders, and manufacturers.

Employees:

  • Total Permanent Employees: 484 (Male: 322, 66.53%; Female: 162, 33.47%)
  • Total Permanent Workers: 166 (100% Male)
  • Differently abled Employees: 2 (Permanent, Male)
  • Board Diversity: 8 directors, with 3 women (37.50%)
  • Key Management Personnel: 3, with 1 woman (33.33%)
  • Employee Turnover Rate (FY 2025-26): Permanent Employees: 9.96% (Male: 4.98%, Female: 4.98%); Permanent Workers: 0.20% (Male)

Subsidiaries & Associates:

  • 16 subsidiary companies listed, with percentage holdings ranging from 70.48% to 100%.
  • 1 associate company: NuTaste Food and Drink Labs Private Limited (40% holding).
  • Only 2 subsidiaries (Keva Fragrances Private Limited, Keva Flavours Private Limited) participate in the entity's Business Responsibility initiatives.

CSR Applicability:

  • CSR is applicable as per Section 135 of the Companies Act, 2013.
  • Turnover: ₹1,268,12,35,131/-
  • Net Worth: ₹739,29,05,570/-

Complaints/Grievances (FY 2025-26):

  • Shareholders: 1 complaint, closed by year-end.
  • Customers: 201 complaints, all closed by year-end.
  • No complaints from Communities, Investors (other than shareholders), Employees and workers, or Value Chain Partners.

Material Responsible Business Conduct Issues:

The report identifies 6 material issues:

1. Climate Change and GHG Emissions (Risk)

2. Energy Efficiency and Resource Optimisation (Risk)

3. Water Stewardship and Wastewater Management (Risk)

4. Human Rights and Community Development (Opportunity)

5. Occupational Health, Safety and Well-being (Risk)

6. Responsible Supply Chain Management (Risk)

For each, the rationale, mitigation/approach, and financial implications (positive/negative) are detailed.

Management and Process Disclosures

Policies & Commitments:

  • The entity has policies covering all 9 NGRBC Principles, approved by the Board.
  • Policies extend to value chain partners.
  • National/International codes adopted include ISO 9001, SEDEX Verified, ISO 14000, ISO 45000, HALAL certification.
  • The company is committed to promoting environmental sustainability, protecting human rights, fostering an inclusive workplace, and tracking ESG performance (ESG).

Governance:

  • The Group Chief Executive Officer (Group CEO) is the highest authority for policy implementation/oversight.
  • The Group CEO (a Board member) is responsible for decision-making on sustainability issues.
  • A statement by the director highlights ESG challenges, targets, and achievements, focusing on product stewardship, community impact, and ethical business conduct.
  • Compliance with statutory requirements relevant to the principles is reviewed as required.
  • No independent external assessment of policies was conducted; oversight is done via internal management/Board reviews and internal audit.

Principle-wise Disclosures (Selected Highlights)

Principle 1 (Ethics, Transparency, Accountability):

  • Training coverage on principles: KMPs (100%), Other Employees (100%), Workers (94.5%).
  • No fines/penalties/settlements paid in proceedings with regulators/law enforcement/judicial institutions.
  • An Anti-Corruption Policy is in place.
  • No disciplinary actions for bribery/corruption against Directors, KMPs, Employees, or Workers.
  • No complaints regarding conflict of interest.
  • Number of days of accounts payables: 122 days (FY 2025-26).
  • Concentration of purchases/sales and related party transaction shares are provided in detail.

Principle 2 (Sustainable & Safe Goods/Services):

  • R&D investment in tech for environmental/social impact: 24% of total R&D (FY 2025-26). Capex: 2% (FY 2024-25).
  • Sustainable sourcing procedures are in place; 35% of inputs were sourced sustainably.
  • Waste reclamation processes are described for plastics, e-waste, hazardous waste, and other waste.
  • Extended Producer Responsibility (EPR) is applicable for plastic waste import; plan is aligned with submissions.
  • Product carbon footprint assessment conducted for 3 key fragrance products (cradle to gate).
  • Currently no use of recycled/reused input material in production.

Principle 3 (Employee Well-being):

  • 100% of permanent employees and workers covered by health insurance and accident insurance.
  • 100% of permanent employees and workers covered by Provident Fund and Gratuity, duly deposited.
  • Workplaces are accessible to differently abled employees.
  • An Equal Opportunity Policy is in place.
  • Return to work and retention rates post-parental leave are 100% for eligible employees/workers.
  • A formal Grievance Redressal Policy exists for all employees and workers.
  • 100% of permanent workers are part of a recognized association/union.
  • 100% of employees and workers received training on health and safety measures.
  • An Occupational Health and Safety Management System (ISO 45001, etc.) is implemented.
  • Detailed processes for hazard identification, risk assessment, and employee reporting are in place.
  • Employees/workers have access to non-occupational medical and healthcare services.
  • Zero lost time injuries, fatalities, or high-consequence injuries were reported for employees or workers.

Principle 4 (Stakeholder Responsiveness):

  • Key stakeholder groups identified: Government/Regulators, Employees/Workers, Customers, Suppliers/Business Partners, Investors/Shareholders, Communities.
  • Detailed channels, frequency, and purposes of engagement are provided for each group.
  • Processes for consultation between stakeholders and the Board on economic, environmental, and social topics are described, involving feedback through functional heads and management reviews.

Principle 5 (Human Rights):

  • 100% of permanent employees and workers were provided training on human rights issues/policies.
  • 100% of permanent employees and workers are paid more than the minimum wage.
  • Median remuneration figures are provided for BoD, KMPs, other employees, and workers by gender.
  • Gross wages paid to women constituted 27.20% of total wages (only permanent employees).
  • A focal point (via Human Rights & Grievance Redressal Policies) exists for addressing human rights impacts.
  • Internal grievance redressal mechanisms for human rights issues are described.
  • Zero complaints were received on sexual harassment, discrimination, child labour, forced labour, wages, or other human rights issues.
  • Zero complaints were reported under the POSH Act.
  • Mechanisms to prevent adverse consequences to complainants are in place (Whistle Blower Policy, etc.).
  • Human rights requirements form part of business agreements (Supplier Code of Conduct).
  • 100% of plants/offices were assessed for issues like child labour, forced labour, etc., with no significant findings.

Principle 6 (Environmental Protection):

  • Extensive data provided for FY 2025-26 and 2024-25 on:
  • Energy Consumption (Renewable, Non-Renewable, Intensity)
  • Water (Withdrawal, Consumption, Discharge, Intensity)
  • Air Emissions (VOC, SOx, PM)
  • GHG Emissions (Scope 1: 120,269 tCO2e; Scope 2: 6,808 tCO2e; Intensity)
  • Waste Generation (Hazardous, Non-Hazardous, by type, Intensity), Recovery, and Disposal
  • The Vashivali manufacturing facility is a Zero Liquid Discharge (ZLD) unit.
  • Projects to reduce GHG emissions include solar inverters and an electric baby boiler.
  • Waste management practices and strategies to reduce hazardous chemical usage are described.
  • No operations are in/around ecologically sensitive areas requiring specific approvals.
  • No projects required Environmental Impact Assessment (EIA) in the year.
  • The entity is compliant with applicable environmental laws (Water Act, Air Act, EPA).
  • No Scope 3 emissions calculated.
  • Initiatives to improve resource efficiency are listed (e.g., water reuse, renewable energy, waste recycling).
  • A Business Continuity and Disaster Management plan is in place.
  • No significant adverse environmental impacts from the value chain were identified.

Principle 7 (Responsible Policy Influence):

  • The entity is affiliated with 13 trade/industry chambers/associations. Top 10 are listed, including international (IFRA) and national (FAFAI) bodies.
  • No adverse orders related to anti-competitive conduct were received.
  • No public policy positions are currently advocated.

Principle 8 (Inclusive Growth):

  • No projects required Social Impact Assessment (SIA) or involved Rehabilitation and Resettlement (R&R).
  • A Grievance Redressal Policy mechanism exists for communities.
  • 7.90% of input material (by value) was sourced directly from MSMEs/Small Producers (FY 2025-26).
  • 60.60% of input material was sourced directly from within India (FY 2025-26).
  • Wage cost distribution by location: Rural (41.22%), Urban (1.03%), Metropolitan (57.75%) - permanent employees only.
  • CSR projects were not undertaken in designated aspirational districts.
  • A preferential procurement policy exists for local/marginalized farmers (raw materials).
  • Benefits from IP based on traditional knowledge are shared within the group.
  • No adverse orders in IP disputes involving traditional knowledge.
  • Details of CSR beneficiaries are provided (e.g., school computer provision, public health initiative, IIT hostel contribution, apprentices).

Principle 9 (Responsible Consumer Engagement):

  • A Grievance Redressal Policy mechanism exists for consumer complaints/feedback.
  • 100% of products/services carry information on environmental/social parameters, safe usage, and recycling/disposal.
  • 201 consumer complaints were received (category: CRM, CCS, Sales, Brigade+) and all were addressed satisfactorily during the year.
  • No complaints on data privacy, advertising, cyber security, essential services, or trade practices.
  • No instances of product recalls (voluntary or forced).
  • A Cyber Security Policy is in place.
  • No corrective actions needed relating to advertising, cyber security, data privacy, or product recalls.
  • Zero instances of data breaches.
  • Product/service information is available on the company website.
  • Consumers are informed via Safety Data Sheets and Technical Data Sheets.
  • No essential services are provided, so no disruption mechanisms are needed.
  • Product information is provided as per country laws; consumer satisfaction surveys are conducted.

No material disclosures under the following sections:

KMP / Board / Auditor Changes, Dividend Declaration, Board Meeting Outcomes, Financial Results, Auditor’s Report, Disinvestment / Strategic Actions, Media Release / Investor Communication.