Sheela Foam – Capacity Addition, New Launches To Drive Topline: ICICI Direct


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We met the management of Sheela Foam Ltd. to get an insight into its business and future plans.

Sheela Foam is the market leader in the domestic mattresses industry with value market share of ~25%. The company’s brand ‘Sleepwell’ is one of the leading brands in the domestic mattresses industry. It has a pan India presence through 5400 plus exclusive retail dealers and 6100 plus multi brand outlets.

Apart from India (contributes ~70% in topline), the company also manufactures polyutherene foams in Australia and Spain with revenue contributions of 16% and 14% respectively.

Sheela Foam has envisaged a capex of Rs 350 crore to increase its consolidated capacity by ~30% in the next two years.

Revenue, earnings grew at compound annual growth rate of 11%, 12%, respectively, in FY17-22.

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