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Sheela Foam (SFL) investor relations material
Sheela Foam Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 consolidated revenue rose 19% YoY to ₹1,045.03 crore; operating EBITDA was ₹87 crore, flat YoY, and PAT was ₹46.42 crore versus ₹9.96 crore.
H1 consolidated revenue increased 22% to ₹2,076.97 crore, operating EBITDA rose 23% to ₹200 crore, and PAT reached ₹108.76 crore versus ₹16.51 crore.
Pricing actions and brand investment supported customer service and absolute EBITDA amid raw-material inflation, logistics disruption and weaker affordability.
Financial highlights
Q2 reported EBITDA was ₹83 crore; operating EBITDA margin was 8.4%. H1 reported EBITDA was ₹192 crore versus operating EBITDA of ₹200 crore.
H1 diluted EPS was ₹9.85 versus ₹1.48 in the prior-year period; cash EPS was ₹18.7. Q2 diluted EPS was ₹4.2 versus ₹0.9.
Standalone revenue rose 18% to ₹1,542.19 crore and EBITDA grew 5% to ₹129 crore in H1; PAT was ₹74.78 crore.
Q2 standalone revenue was ₹781.27 crore and PAT was ₹30.84 crore, versus ₹666.80 crore and ₹5.65 crore in Q2 FY26.
Outlook and guidance
FY27 pro forma revenue target is ₹5,000 crore, comprising ₹4,300–4,400 crore from existing operations and ₹500–600 crore from Furlenco; EBITDA target exceeds ₹600 crore.
Furlenco is expected to contribute ₹200 crore EBITDA this year and existing operations ₹400–450 crore.
With raw materials and logistics normalizing, ~12% EBITDA margin is considered reasonable for existing operations; 13%–15% next-year margins depend on conditions stabilizing.
Management targets 15% annual growth; easing conditions would favor volume growth, while continued inflation would mean value-led growth and continued focus on margins.
H2 mattress volume growth depends on raw-material prices and Middle East disruption; stabilization or easing is expected to support volumes.
- Revenue grew 7%, but volatile TDI prices constrained profit growth as expansion plans advanced.SFL
Q4 18/19 - Revenue grew 11.3% as India-led gains offset GST disruption and TDI cost pressure.SFL
Q4 17/18 - PAT rose 45% as COVID-19 halted late-Q4 sales and Interplasp expanded reach.SFL
Q4 19/20 - Revenue rose 13% as new technology and retail expansion advanced amid cost pressure.SFL
Q4 16/17 - FY16 profit surged as lower input costs, stronger yields and product mix lifted performance.SFL
Q4 15/16 - Stable revenue, softer profits and an ambitious capacity build shaped FY23.SFL
Q4 22/23 - Revenue grew 23%, but raw-material inflation cut consolidated PAT to ₹219 crore.SFL
Q4 21/22 - Acquisitions expanded scale, while lower PAT and higher financing costs temper FY24 growth.SFL
Q4 23/24 - Overseas growth lifted FY21 results, while COVID’s second wave and input inflation clouded the outlook.SFL
Q4 20/21
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