Analyst Meet / AGM     16-Aug-21
Conference Call
Sheela Foam
Margins to remain impacted

Sheela Foam conducted conference call on 16 August 2021 to discuss the financial results and performance of the company for the quarter ended June'21. Mr. Rahul Gautam - Managing Director, Mr. Tushaar Gautam- Director, Mr. Rakesh Chahar – Director, Sales and Marketing and Mr. Davinder Ahuja – CFO Indian Operation, of the company addressed the Concall.

Highlights of the Concall

  • Mattresses business was Rs 140 crore in Q1FY22 compared to Rs 67 crore in Q1FY21 and Rs 210 crore in Q4FY21.

  • Home comfort products business was Rs 6 crore in Q1FY22 compared to Rs 4 crore in Q1FY21 and Rs 12 crore in Q4FY21..

  • Furniture foam business was Rs 39 crore in Q1FY22 compared to Rs 17 crore in Q1FY21 and Rs 72 crore in Q4FY21.

  • Foam core business was Rs 66 crore in Q1FY22 compared to Rs 23 crore in Q1FY21 and Rs 127 crore in Q4FY21.

  • Technical foam business was Rs 75 crore in Q1FY22 compared to Rs 16 crore in Q4FY21 and Rs 113 crore in Q4FY21.

  • Raw material prices continue to double up with wild fluctuations with almost changes to the extent of 15 to 20% and by one particular month it saw a almost 25% change mainly due to availabilty and global shipping. Global shipping is in complete disarray.

  • Average TDI price was Rs.214 per kg in Q1FY22 compared to Rs. 124 per kg in Q1FY21 and Rs.184 per kg in Q4FY 21

  • Average POLYOL price was Rs.236 per kg in Q1FY22 compared to Rs. 108 per kg in Q1FY21 and Rs.206 per kg in Q4FY21

  • The company expects raw materials to fluctuate for few more months before settling down. As a result the company could see wide variations in margins quarter to quarter

  • The company generally saw that TDI prices were double of polypol prices which are now more than the TDI prices. Polyol prices had never seen such wide fluctuations.

  • Australia performance has been stable as they did not have much of a lockdown. But now they are impacted as the number of corona cases is increasing.

  • Revenue from Australia operations was Rs. 103 crore compared to Rs. 82 crore of Q1FY21, registering a growth of 27%. The EBITDA for the quarter was Rs. 12 crore as compared to Rs. 13 crore of corresponding quarter. Net Profit (PAT) was Rs. 3 crore compared to Rs. 4 crore of corresponding quarter.

  • Revenue from Spain operations was Rs. 122 crore compared to Rs. 60 crore of Q1FY21, registering a growth of 103%. The EBITDA for the quarter was Rs. 7 crore as compared to Rs. 11 crore of corresponding quarter and the Net Profit (PAT) was Rs. 4 crore compared to Rs. 7 crore of corresponding quarter.

  • The IT initiative based in India is progressing well both in the Indian market as well as in the outside market.

  • The company is trying to scale up export orders from India and Spain operations.
Previous News
  Sheela Foam consolidated net profit rises 10.77% in the September 2021 quarter
 ( Results - Announcements 30-Oct-21   08:07 )
  Sheela Foam standalone net profit declines 12.88% in the March 2022 quarter
 ( Results - Announcements 12-May-22   14:34 )
  Sheela Foam to hold board meeting
 ( Corporate News - 27-Jul-22   16:45 )
  Sheela Foam to announce Quarterly Result
 ( Corporate News - 01-Feb-24   16:18 )
  Sheela Foam receives affirmation in credit rating for NCDs
 ( Corporate News - 25-Sep-24   13:45 )
  Sheela Foam to convene AGM
 ( Corporate News - 26-Jul-21   16:24 )
  Sheela Foam to declare Quarterly Result
 ( Corporate News - 30-Oct-23   16:11 )
  Sheela Foam standalone net profit declines 7.62% in the June 2017 quarter
 ( Results - Announcements 04-Aug-17   16:52 )
  Sheela Foam consolidated net profit rises 118.98% in the June 2021 quarter
 ( Results - Announcements 16-Aug-21   08:20 )
  Sheela Foam announces board meeting date
 ( Corporate News - 27-Jan-23   11:08 )
  Volumes spurt at CCL Products (India) Ltd counter
 ( Hot Pursuit - 14-Jan-19   11:00 )
Other Stories
  MAS Financial Services
  21-Sep-24   17:18
  Motherson Sumi Wiring India
  22-Aug-24   17:22
  SKF India
  22-Aug-24   15:34
  Gabriel India
  16-Aug-24   16:01
  Cantabil Retail India
  14-Aug-24   19:26
  Fiem Industries
  14-Aug-24   16:54
  Senco Gold
  14-Aug-24   11:25
  Advanced Enzymes Technologies
  14-Aug-24   09:45
  Pennar Industries
  14-Aug-24   09:07
  RVNL
  14-Aug-24   09:06
Back Top