Sheela Foam

₹679.5 -7.4 | 1.1%

WEBSITE BSE:540203 NSE : SFL 09 Jul, 15:52

Market Cap ₹7386 Cr.

Stock P/E 77.3

P/B 2.4

Current Price ₹679.5

Book Value ₹ 278.4

Face Value 5

52W High ₹1062.7

Dividend Yield 0%

52W Low ₹ 613.8

Edit Ratio

Sheela Foam Research see more...

Equity Research: Sheela Foam Limited

Overview Inc. Year: 1971Industry: Household & Personal Products

Sheela Foam Ltd, formerly Sheela Foam Private Ltd, manufactures mattresses underneath Sleepwell logo. The Company manufactures other foam-based home comfort products focusing primarily at Indian retail consumers, in addition to technical grades of polyurethane (PU) foam for end use in various industries. Its home comfort line consists of products, inclusive of furniture-cushioning, cushions and sofa-cum-beds, as well as PU Foam cores utilized for manufacturing finished home comfort merchandise, and comfort add-ons, which includes bed sheets and toddler care sheets. Its mattress line, supplied below its Sleepwell range, consists of pure foam mattresses, in addition to hybrids of spring and coir with foam that are able to customization as in keeping with the necessities of purchasers. Its furniture-cushioning line, offered underneath Sleepwell and Feather Foam manufacturers, includes PU Foam that constitutes upholstery material of various densities. Through its subsidiary, it manufactures PU Foam in Australia.

Sheela Foam Share Price

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Peer Comparison

Sheela Foam Quarterly Results

#(Fig in Cr.)	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Net Sales	761	729	645	613	879	845	810	813	967	850
Other Income	28	18	24	24	32	37	31	32	7	61
Total Income	789	747	669	638	911	882	840	845	975	911
Total Expenditure	685	651	567	547	803	765	750	743	879	817
Operating Profit	104	96	102	91	108	117	90	101	95	94
Interest	5	7	8	9	25	27	28	28	29	35
Depreciation	22	26	23	22	30	41	40	48	45	50
Exceptional Income / Expenses	0	0	-11	0	0	34	31	0	0	-0
Profit Before Tax	77	63	60	60	53	83	53	25	21	9
Provision for Tax	15	19	17	16	14	14	7	16	3	-12
Profit After Tax	61	44	43	45	38	68	47	9	18	21
Adjustments	-1	-0	-0	-1	-8	-4	-1	1	0	0
Profit After Adjustments	61	43	43	44	31	65	46	10	19	21
Adjusted Earnings Per Share	6.2	4.4	4.4	4	2.8	5.9	4.2	0.9	1.7	2

Sheela Foam Profit & Loss

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Net Sales	1418	1550	1733	1965	2141	2174	2437	2866	2873	2982	3439	3440
Other Income	11	17	23	21	29	40	50	79	86	117	131	131
Total Income	1429	1567	1756	1986	2171	2214	2487	2945	2959	3099	3570	3571
Total Expenditure	1327	1374	1537	1749	1932	1873	2073	2551	2575	2682	3189	3189
Operating Profit	102	193	219	237	239	340	414	394	384	418	381	380
Interest	16	12	11	9	10	13	18	17	21	69	121	120
Depreciation	28	29	30	35	40	59	73	81	90	116	183	183
Exceptional Income / Expenses	0	0	0	0	0	-12	0	0	0	23	31	31
Profit Before Tax	58	152	178	193	189	256	324	296	273	256	108	108
Provision for Tax	15	47	52	60	56	62	84	78	72	61	13	14
Profit After Tax	43	105	126	134	134	194	240	219	201	195	96	95
Adjustments	0	0	0	0	0	-1	-2	-1	-2	-12	1	0
Profit After Adjustments	43	105	126	134	134	193	238	217	199	182	96	96
Adjusted Earnings Per Share	4.4	10.7	12.9	13.7	13.7	19.8	24.4	22.3	20.4	16.8	8.8	8.8

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	15%	6%	10%	9%
Operating Profit CAGR	-9%	-1%	2%	14%
PAT CAGR	-51%	-24%	-13%	8%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-35%	-20%	-1%	NA%
ROE Average	3%	8%	13%	20%
ROCE Average	5%	10%	16%	24%

Sheela Foam Balance Sheet

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Shareholder's Funds	245	338	464	597	730	920	1184	1393	1598	2920	3035
Minority's Interest	0	0	0	0	0	7	9	8	8	61	60
Borrowings	73	35	22	8	6	157	133	228	284	945	530
Other Non-Current Liabilities	40	47	53	72	84	176	417	438	264	276	266
Total Current Liabilities	322	368	380	365	342	385	855	550	682	1129	1523
Total Liabilities	679	788	918	1043	1162	1644	2598	2616	2837	5331	5414
Fixed Assets	286	288	317	347	348	792	835	827	812	3078	3106
Other Non-Current Assets	21	36	55	103	128	95	646	1003	592	1378	845
Total Current Assets	373	465	546	592	686	757	1116	786	1433	875	1419
Total Assets	679	788	918	1043	1162	1644	2598	2616	2837	5331	5414

Sheela Foam Cash Flow

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Opening Cash & Cash Equivalents	77	117	61	118	152	17	44	57	41	42	44
Cash Flow from Operating Activities	147	159	122	134	138	157	254	197	218	406	252
Cash Flow from Investing Activities	-49	-34	2	-80	-246	-287	-208	-306	-274	-2258	-29
Cash Flow from Financing Activities	-59	-25	-67	-20	-27	157	-32	93	56	1854	-226
Net Cash Inflow / Outflow	40	100	57	34	-135	27	13	-17	-0	2	-3
Closing Cash & Cash Equivalent	117	217	118	152	17	44	57	41	42	44	41

Sheela Foam Ratios

#	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Earnings Per Share (Rs)	4.37	10.73	12.87	13.7	13.71	19.83	24.37	22.28	20.39	16.78	8.84
CEPS(Rs)	7.24	13.73	15.98	17.32	17.76	25.97	32.08	30.7	29.77	28.55	25.59
DPS(Rs)	0	0	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	25.12	34.69	47.52	61.22	74.83	94.27	121.38	142.73	163.82	268.42	278.41
Core EBITDA Margin(%)	5.81	10.37	10.35	10.79	9.78	13.82	14.56	10.38	9.68	9.13	6.58
EBIT Margin(%)	4.75	9.64	9.97	10.09	9.3	12.39	13.65	10.32	9.55	9.86	6.02
Pre Tax Margin(%)	3.7	8.96	9.39	9.65	8.85	11.79	12.95	9.76	8.86	7.78	2.85
PAT Margin (%)	2.75	6.17	6.63	6.67	6.25	8.94	9.6	7.21	6.52	5.91	2.52
Cash Profit Margin (%)	4.55	7.9	8.23	8.43	8.09	11.65	12.51	9.87	9.43	9.43	7.32
ROA(%)	6.54	14.27	14.71	13.64	12.13	13.85	11.32	8.39	7.37	4.76	1.78
ROE(%)	19.33	35.89	31.31	25.21	20.15	23.55	22.83	16.98	13.43	8.61	3.21
ROCE(%)	19.02	38.75	38.68	34.61	28.32	28.47	27.09	20.08	15.5	10.36	5.41
Receivable days	27.56	24.92	24.65	26.05	25.52	30.89	37.79	34.36	32.66	35.81	34.09
Inventory Days	28.47	23.97	24.19	29.05	30.66	34.76	39.56	37.86	38.25	37.19	33.12
Payable days	46.9	52.81	54.77	53.63	46.33	52.83	66.96	62.36	58.11	69.55	64.6
PER(x)	0	0	43.73	54.52	45.9	32.74	40.55	78.02	48.82	56.03	80.41
Price/Book(x)	0	0	11.84	12.21	8.41	6.89	8.14	12.18	6.08	3.5	2.55
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	0.03	-0.06	3.08	3.65	2.87	2.99	4.02	6.02	3.53	3.84	2.59
EV/Core EBITDA(x)	0.44	-0.44	24.36	30.24	25.77	19.1	23.62	43.78	26.42	27.43	23.36
Net Sales Growth(%)	11.53	9.33	11.8	13.42	8.96	1.5	12.13	17.58	0.27	3.79	15.32
EBIT Growth(%)	33.29	121.94	15.45	7.04	-1.54	35.32	26.79	-8.26	-6.12	10.33	-29.5
PAT Growth(%)	53.28	145.38	19.9	6.49	0.02	45.27	23.61	-8.92	-8.18	-3.15	-50.89
EPS Growth(%)	53.28	145.39	19.9	6.49	0.03	44.63	22.9	-8.58	-8.46	-17.69	-47.33
Debt/Equity(x)	0.59	0.34	0.13	0.08	0.04	0.23	0.17	0.24	0.29	0.44	0.4
Current Ratio(x)	1.16	1.26	1.44	1.62	2	1.97	1.31	1.43	2.1	0.78	0.93
Quick Ratio(x)	0.79	0.98	1.05	1.15	1.46	1.38	0.94	0.86	1.62	0.47	0.7
Interest Cover(x)	4.55	14.02	17.22	23.32	20.68	20.73	19.31	18.46	13.96	4.73	1.9
Total Debt/Mcap(x)	0	0	0.01	0.01	0	0.03	0.02	0.02	0.05	0.13	0.16

Sheela Foam Shareholding Pattern

#	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Promoter	72.95	72.95	72.95	65.48	65.48	65.48	65.48	65.48	65.7	65.69
FII	3.19	3.26	3.21	6.04	6.12	6.32	6.4	6.59	6.55	6.23
DII	22.43	22.29	21.95	25.08	24.99	24.53	23.4	22.3	21.04	21.17
Public	1.43	1.5	1.89	3.4	3.4	3.67	4.72	5.63	6.71	6.91
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Promoter	7.12	7.12	7.12	7.12	7.12	7.12	7.12	7.12	7.14	7.14
FII	0.31	0.32	0.31	0.66	0.67	0.69	0.7	0.72	0.71	0.68
DII	2.19	2.17	2.14	2.73	2.72	2.67	2.54	2.42	2.29	2.3
Public	0.14	0.15	0.18	0.37	0.37	0.4	0.51	0.61	0.73	0.75
Others	0	0	0	0	0	0	0	0	0	0
Total	9.76	9.76	9.76	10.87	10.87	10.87	10.87	10.87	10.87	10.87

Pros

Debtor days have improved from 69.55 to 64.6days.
Company has reduced debt.
Company is almost debt free.

Cons

Company has a low return on equity of 8% over the last 3 years.
The company has delivered a poor profit growth of -13% over past five years.

* 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.