|
Revenue from operations fell 10.18% to Rs 613.18 crore in Q2 FY24 as compared with Rs 682.69 crore in Q2 FY23. Decline in Topline primarily on account of portfolio rationalization and reduction in raw material prices
Profit before tax dropped 20.06% to Rs 60.18 crore as on 30 September 2023 as against Rs 75.28 crore as on 30 September 2022.
EBITDA stood at Rs 66.3 crore during the quarter, was down 15.3% as compared with Rs 78.3 crore recorded in corresponding quarter last year. EBITDA margin improved by 66 bps to 10.81% in Q2 FY24 as against 11.47% in Q2 FY23.
EBITDA for the quarter impacted by higher manpower cost due to strengthening of management team to take care of next level of growth and managing and extracting benefits from recent acquisitions.
The company opened 52 new Showrooms (13 World + 39 Gallery) and Fourty shoppe in Q2FY24.
Meanwhile, the company’s board has approved the resignation of Rahul Gautam from the post of managing director and appointed him as whole time director and chairman. It has also approved the appointment of Tushaar Gautam as managing director of the company with immediate effect.
Sheela Foam pioneered in the manufacturing of polyurethane foams in India and has ten manufacturing facilities, using the state of the art technology at strategic locations across the country.
|