Sheela Foam Ltd

Sheela Foam Limited is Indias top player in the mattress and foam products industry. The Company enjoys strong brand awareness, a vast product portfolio, and presence in India and Australia.(Source : 201903 Annual Report Page No: 12)

Pros:
Company has reduced debt.
Company is virtually debt free.
Company has a good return on equity (ROE) track record: 3 Years ROE 24.41%
Cons:
Stock is trading at 8.71 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
The company has delivered a poor growth of 11.09% over past five years.

Peer Comparison Sector: Textiles // Industry: Textiles - Jute - Yarn / Products

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
412 482 458 419 486 532 528 502 535 569 535 514
359 417 434 375 428 471 476 451 493 508 479 452
Operating Profit 53 65 25 45 58 61 52 51 42 61 56 62
OPM % 13% 14% 5% 11% 12% 12% 10% 10% 8% 11% 10% 12%
Other Income 3 5 9 5 4 4 7 6 6 8 9 9
Interest 3 3 2 2 2 2 2 2 2 3 2 2
Depreciation 7 8 8 8 9 9 10 9 10 10 10 10
Profit before tax 45 59 23 40 51 55 47 45 36 56 52 60
Tax % 32% 29% 29% 30% 33% 29% 32% 28% 32% 31% 27% 35%
Net Profit 30 42 17 28 34 39 32 33 24 39 38 39
EPS in Rs 8.63 3.42 5.77 7.03 8.02 6.59 6.68 4.99 7.98 7.76 7.94
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
987 1,092 1,221 1,359 1,550 1,680 1,889 2,066 2,154
931 1,011 1,136 1,267 1,374 1,484 1,673 1,857 1,933
Operating Profit 56 82 85 92 176 196 216 209 221
OPM % 6% 7% 7% 7% 11% 12% 11% 10% 10%
Other Income 6 12 0 10 16 23 21 29 32
Interest 24 23 19 16 12 11 9 10 10
Depreciation 25 31 30 28 29 30 35 40 40
Profit before tax 12 40 36 58 152 178 193 189 204
Tax % 35% 22% 23% 26% 31% 29% 31% 29%
Net Profit 8 31 28 43 105 126 134 134 140
EPS in Rs 25.74 27.41 27.42 28.67
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:11.09%
3 Years:10.05%
TTM:5.17%
Compounded Profit Growth
10 Years:%
5 Years:36.04%
3 Years:8.10%
TTM:1.27%
Return on Equity
10 Years:%
5 Years:25.44%
3 Years:24.41%
Last Year:19.69%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
16 16 16 16 16 24 24 24
Reserves 122 153 180 229 322 439 573 706
Borrowings 248 214 188 146 115 59 48 31
162 191 249 294 342 400 403 403
Total Liabilities 548 575 633 685 796 923 1,048 1,163
228 268 252 286 288 318 348 412
CWIP 41 1 17 8 10 36 52 1
Investments 5 8 0 0 10 0 98 318
274 299 364 390 488 568 549 433
Total Assets 548 575 633 685 796 923 1,048 1,163

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
60 97 124 147 159 122 134 138
-4 -30 -27 -49 -34 2 -80 -246
-64 -56 -53 -59 -25 -67 -20 -27
Net Cash Flow -8 12 45 40 100 57 34 -135

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 16% 14% 19% 38% 39% 35% 28%
Debtor Days 43 35 36 31 28 30 28 27
Inventory Turnover 10.51 10.17 11.22 13.92 13.38 11.84 11.49