Sheela Foam

₹849.8 -21.7 | 2.5%

WEBSITE BSE:540203 NSE : SFL 22 Oct, 16:01

Market Cap ₹9237 Cr.

Stock P/E 49.8

P/B 3.4

Current Price ₹849.8

Book Value ₹ 248.8

Face Value 5

52W High ₹1297.4

Dividend Yield 0%

52W Low ₹ 849.2

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

New

Volume

Price

Price: NSE50 DMA200 DMAVolume

Quarterly Price

Quarterly Monthly

Show Value Show %

Peer Comparison

Sheela Foam Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

Sheela Foam Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Net Sales	1003	1136	1265	1429	1657	1814	1755	1694	2008	2039	1880
Other Income	8	15	21	26	25	32	44	47	70	75	97
Total Income	1011	1151	1286	1455	1681	1846	1799	1741	2078	2114	1976
Total Expenditure	947	1073	1125	1267	1465	1632	1530	1457	1774	1830	1670
Operating Profit	64	78	162	188	216	214	268	285	304	283	307
Interest	12	10	7	7	6	7	8	9	7	8	44
Depreciation	20	22	23	24	28	31	33	33	32	41	58
Exceptional Income / Expenses	0	0	0	0	0	0	-12	0	0	0	18
Profit Before Tax	32	46	132	157	183	176	215	243	265	234	222
Provision for Tax	7	11	42	46	57	52	50	62	67	63	54
Profit After Tax	25	34	90	111	126	124	166	181	197	171	168
Adjustments	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	25	34	90	111	126	124	166	181	197	171	168
Adjusted Earnings Per Share	2.6	3.5	9.2	11.4	12.9	12.7	17	18.6	20.2	17.5	15.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-8%	4%	1%	6%
Operating Profit CAGR	8%	3%	7%	17%
PAT CAGR	-2%	-2%	6%	21%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-21%	-11%	6%	NA%
ROE Average	8%	13%	16%	20%
ROCE Average	10%	18%	22%	27%

Sheela Foam Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	186	220	311	421	546	669	830	1013	1210	1362	2674
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	39	18	4	4	0	0	0	0	0	99	787
Other Non-Current Liabilities	35	40	50	55	75	88	90	307	327	177	242
Total Current Liabilities	212	262	281	295	267	266	249	342	319	402	660
Total Liabilities	471	540	645	775	888	1023	1170	1663	1855	2040	4363
Fixed Assets	165	190	201	232	252	265	275	274	253	307	501
Other Non-Current Assets	47	48	68	90	147	168	305	818	1111	606	3444
Total Current Assets	259	301	376	454	489	589	589	571	491	1126	418
Total Assets	471	540	645	775	888	1023	1170	1663	1855	2040	4363

Sheela Foam Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	29	70	108	49	105	139	11	29	35	14	13
Cash Flow from Operating Activities	121	110	171	102	114	120	130	178	196	147	246
Cash Flow from Investing Activities	-26	-41	-41	4	-71	-240	-103	-163	-210	-187	-2160
Cash Flow from Financing Activities	-54	-31	-32	-50	-9	-8	-9	-9	-6	38	1915
Net Cash Inflow / Outflow	40	39	97	56	34	-129	18	6	-21	-2	-0
Closing Cash & Cash Equivalent	70	108	205	105	139	11	29	35	14	13	13

Sheela Foam Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	2.56	3.53	9.24	11.4	12.91	12.68	16.96	18.57	20.22	17.54	15.48
CEPS(Rs)	4.64	5.73	11.57	13.81	15.75	15.86	20.36	21.9	23.54	21.75	20.85
DPS(Rs)	0	0	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	19.05	22.58	31.83	43.18	56	68.58	85.08	103.87	123.97	139.62	245.8
Core EBITDA Margin(%)	4.91	4.91	9.95	10.19	11.27	10.04	12.79	13.58	10.74	9.31	10.03
EBIT Margin(%)	3.85	4.41	9.85	10.35	11.1	10.09	12.72	14.44	12.47	10.83	12.72
Pre Tax Margin(%)	2.81	3.59	9.37	9.89	10.76	9.68	12.26	13.94	12.15	10.47	10.63
PAT Margin (%)	2.22	2.71	6.39	6.99	7.43	6.82	9.43	10.37	9.06	7.65	8.04
Cash Profit Margin (%)	4.01	4.4	8	8.47	9.07	8.53	11.32	12.23	10.55	9.48	10.83
ROA(%)	5.57	6.82	15.21	15.65	15.14	12.94	15.1	12.79	11.22	8.78	5.25
ROE(%)	14.42	16.96	33.96	30.39	26.03	20.35	22.08	19.65	17.75	13.31	8.34
ROCE(%)	15.49	19.7	42.85	42.11	38.71	30.07	29.78	27.35	24.44	17.92	10.39
Receivable days	25.35	22.82	19.73	19.94	21.64	20.55	23.82	30.25	25.06	22.38	28.54
Inventory Days	27.76	25.46	21.3	21.09	25.84	28.46	33.09	41.12	36.18	33.45	31.07
Payable days	37.6	43.01	50.66	52.57	50.22	42.48	50.9	70.81	62.08	58.14	59.61
PER(x)	0	0	0	49.38	57.89	49.63	38.26	53.22	85.94	56.77	60.77
Price/Book(x)	0	0	0	13.03	13.34	9.17	7.63	9.51	14.02	7.13	3.83
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	0.04	-0.02	-0.11	3.71	4.31	3.38	3.59	5.67	8.44	4.82	5.94
EV/Core EBITDA(x)	0.6	-0.26	-0.88	28.15	33.08	28.62	23.49	33.74	55.72	34.7	36.4
Net Sales Growth(%)	13.23	13.3	11.37	12.94	15.95	9.49	-3.25	-3.47	18.56	1.51	-7.8
EBIT Growth(%)	-10.04	29.02	147.92	18.45	14.32	-2.83	22.05	12.92	7.75	-10.83	9.85
PAT Growth(%)	4.04	37.73	161.75	23.35	13.25	-1.8	33.83	9.45	8.92	-13.29	-1.67
EPS Growth(%)	4.04	37.73	161.75	23.35	13.25	-1.8	33.83	9.45	8.92	-13.29	-11.75
Debt/Equity(x)	0.49	0.33	0.15	0.01	0	0	0	0	0	0.1	0.36
Current Ratio(x)	1.23	1.15	1.34	1.54	1.83	2.22	2.36	1.67	1.54	2.8	0.63
Quick Ratio(x)	0.82	0.8	1.08	1.16	1.34	1.64	1.7	1	0.9	2.29	0.41
Interest Cover(x)	3.68	5.36	20.54	22.25	32.71	24.93	27.44	29.05	38.21	29.8	6.08
Total Debt/Mcap(x)	0	0	0	0	0	0	0	0	0	0.01	0.09

Sheela Foam Shareholding Pattern

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	72.95	72.95	72.95	72.95	72.95	65.48	65.48	65.48	65.48	65.48
FII	3.11	3.16	3.19	3.26	3.21	6.04	6.12	6.32	6.4	6.59
DII	22.85	22.74	22.43	22.29	21.95	25.08	24.99	24.53	23.4	22.3
Public	1.1	1.15	1.43	1.5	1.89	3.4	3.4	3.67	4.72	5.63
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	3.56	3.56	7.12	7.12	7.12	7.12	7.12	7.12	7.12	7.12
FII	0.15	0.15	0.31	0.32	0.31	0.66	0.67	0.69	0.7	0.72
DII	1.11	1.11	2.19	2.17	2.14	2.73	2.72	2.67	2.54	2.42
Public	0.05	0.06	0.14	0.15	0.18	0.37	0.37	0.4	0.51	0.61
Others	0	0	0	0	0	0	0	0	0	0
Total	4.88	4.88	9.76	9.76	9.76	10.87	10.87	10.87	10.87	10.87

Pros

Company is almost debt free.

Cons

Company has a low return on equity of 13% over the last 3 years.
Debtor days have increased from 58.14 to 59.61days.
Stock is trading at 3.4 times its book value.
The company has delivered a poor profit growth of 6% 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.