Sheela Foam Ltd

Sheela Foam Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Sheela Foam Ltd

₹ 787 -2.65%
15 Jul 2:44 p.m.
sheelafoam.com BSE: 540203 NSE: SFL
About

Sheela Foam Limited is a leading player in India’s mattress and foam products industry and a leader in Polyurethane (PU) Foam. It has a nationwide presence in manufacturing PU Foam with a track record, since 1971. [1]

Key Points

Largest Manufacturer of Polyurethane Foam
The company is India's largest manufacturer of flexible slab stock Polyutherane (PU) foam and mattresses under Sleepwell, Furlenco, and Kurlon [1] with a 30% market share in India’s mattress segment and a 40% market share in Australia. The Kurlon brand holds a 12-13% market share of the modern mattress market.[2] [3] [4]

Website BSE NSE
  • Market Cap ₹ 8,599 Cr.
  • Current Price ₹ 787
  • High / Low ₹ 829 / 457
  • Stock P/E 70.8
  • Book Value ₹ 267
  • Dividend Yield 0.12 %
  • ROCE 6.27 %
  • ROE 4.27 %
  • Face Value ₹ 5.00
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Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 2.99 times its book value
  • The company has delivered a poor sales growth of 11.8% over past five years.
  • Company has a low return on equity of 3.76% over last 3 years.
  • Dividend payout has been low at 2.79% of profits over last 3 years
  • Promoter holding has decreased over last 3 years: -7.26%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Consumer Durables Consumer Durables Furniture, Home Furnishing

Part of BSE Consumer Discretionary Nifty Microcap 250 Nifty Total Market BSE Premium Consumption BSE 1000

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
519 456 423 513 487 504 615 791 662 635 667 842 819
461 395 377 460 437 456 560 720 650 574 604 757 729
Operating Profit 58 61 46 53 50 48 55 71 12 60 63 84 90
OPM % 11% 13% 11% 10% 10% 9% 9% 9% 2% 9% 9% 10% 11%
18 11 22 22 59 37 30 9 59 8 -0 8 32
Interest 2 2 3 18 20 22 22 23 29 23 22 11 15
Depreciation 12 11 13 15 20 19 35 23 34 30 33 31 17
Profit before tax 62 59 52 42 69 44 27 34 8 16 8 50 90
Tax % 32% 27% 26% 27% 18% 27% 23% 27% -71% 33% 29% 23% 16%
42 43 38 31 56 32 21 25 14 11 6 39 76
EPS in Rs 4.28 4.38 3.52 2.84 5.18 2.95 1.94 2.29 1.25 0.98 0.52 3.56 6.92
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1,077 1,265 1,376 1,580 1,738 1,703 1,694 2,008 2,039 1,880 2,675 2,962
1,013 1,124 1,213 1,387 1,555 1,478 1,457 1,774 1,830 1,669 2,488 2,663
Operating Profit 64 141 162 193 184 224 237 234 208 210 187 300
OPM % 6% 11% 12% 12% 11% 13% 14% 12% 10% 11% 7% 10%
13 21 26 23 30 32 47 70 75 114 151 46
Interest 10 7 7 6 7 8 9 7 8 44 97 71
Depreciation 22 23 24 28 31 33 33 32 41 58 130 110
Profit before tax 46 132 157 182 176 215 243 265 234 222 111 165
Tax % 24% 32% 29% 31% 30% 23% 26% 25% 27% 24% 16% 21%
34 90 111 126 124 166 181 197 171 168 93 131
EPS in Rs 10.60 27.74 11.39 12.90 12.67 16.96 18.56 20.22 17.54 15.48 8.53 11.96
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 8%
Compounded Sales Growth
10 Years: 9%
5 Years: 12%
3 Years: 13%
TTM: 11%
Compounded Profit Growth
10 Years: 3%
5 Years: -6%
3 Years: -8%
TTM: 212%
Stock Price CAGR
10 Years: %
5 Years: -7%
3 Years: -10%
1 Year: 18%
Return on Equity
10 Years: 10%
5 Years: 6%
3 Years: 4%
Last Year: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 16 16 24 24 24 24 24 24 49 54 55 55
Reserves 204 294 397 522 645 806 989 1,185 1,313 2,620 2,722 2,858
72 46 4 1 0 3 2 19 149 1,000 956 475
248 288 350 341 353 337 406 379 406 521 738 775
Total Liabilities 540 645 775 888 1,023 1,170 1,421 1,608 1,917 4,196 4,470 4,162
190 201 233 254 269 279 278 257 311 504 2,270 2,279
CWIP 8 2 3 4 1 17 1 1 103 80 54 25
Investments 30 53 73 195 416 443 623 839 960 3,068 1,082 784
311 390 466 436 337 431 519 511 543 543 1,064 1,073
Total Assets 540 645 775 888 1,023 1,170 1,421 1,608 1,917 4,196 4,470 4,162

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
110 171 102 114 120 130 178 196 147 246 232 259
-41 -41 4 -71 -240 -103 -163 -210 -186 -2,160 -46 292
-31 -32 -50 -9 -8 -9 -9 -6 38 1,915 -173 -570
Net Cash Flow 39 97 56 34 -129 18 6 -21 -2 -0 13 -19
Free Cash Flow 71 144 45 65 75 76 162 183 32 112 120 245
CFO/OP 185% 143% 105% 84% 96% 81% 97% 114% 103% 152% 125% 94%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 27 21 26 23 22 27 35 25 25 37 30 35
Inventory Days 48 41 52 53 57 73 93 55 63 51 60 63
Days Payable 57 49 63 46 43 50 95 53 57 55 60 74
Cash Conversion Cycle 17 13 15 30 35 50 33 27 30 33 30 24
Working Capital Days -23 -32 -10 4 9 20 19 13 1 -49 -71 -54
ROCE % 20% 42% 42% 39% 29% 29% 25% 23% 16% 8% 4% 6%

Insights

In beta
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Dec 2023 Mar 2025 Mar 2026
Manufacturing Capacity - Australia (Joyce)
MTPA (Metric Tonnes Per Annum)

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Manufacturing Capacity - India
MTPA (Metric Tonnes Per Annum)
Market Share - Modern Mattress (India)
%
EBO Showroom Count (Sleepwell + Kurlon)
Number of outlets
Foam Volumes - Total (SFL + KEL)
Tonnes
Mattress Volumes (SFL + KEL)
Thousand units
E-commerce Revenue
INR Crore
U2O/STI Dealers Count (Small Town Initiative)
Number of dealers

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
72.95% 65.48% 65.48% 65.48% 65.48% 65.48% 65.69% 65.69% 65.69% 65.69% 65.69% 65.69%
3.21% 6.04% 6.12% 6.32% 6.40% 6.60% 6.56% 6.23% 4.62% 4.07% 4.18% 4.15%
21.95% 25.08% 24.99% 24.52% 23.40% 22.30% 21.03% 21.17% 21.12% 21.11% 20.39% 20.55%
1.89% 3.40% 3.40% 3.68% 4.72% 5.62% 6.71% 6.91% 8.55% 9.14% 9.75% 9.60%
No. of Shareholders 30,57444,13739,44439,10351,04755,95460,35460,08965,04670,54472,35966,611

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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Credit ratings

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