Other income rose 33.61% to Rs 16.26 crore. Provision for interest fell 13.16% to Rs 4.62 crore. Provision for depreciation fell 31.65% to Rs 18.44 crore. Profit before EO grew 43.82% to Rs 77.32 crore. The company reported nil EO items during the quarter compared to EO expense of Rs 11.99 crore related to write off of an insurance claim towards the fire in 216-17 in its unit at Greater Noida unit . PBT after EO was up 85% to Rs 77.32. Provision for tax was expense of Rs 18.95 crore, compared to Rs 9.59 crore. Effective tax rate was 24.51% compared to 22.96%.

Minority interest decreased 52.08% to Rs 0.23 crore. Net profit attributable to owners of the company increased 83.41% to Rs 58.14 crore.

Standalone India performance

During the quarter, the revenue from operations on standalone basis were Rs. 534 crore compared to Rs. 390 crore of Q4FY20. The EBITDA for the quarter was Rs. 70 crore as compared to Rs 42 crore of corresponding quarter. The Net Profit (PAT) for Q4FY21 was Rs. 54 crore as compared to Rs. 26 crore of corresponding quarter.

During FY21 revenue from operations on standalone basis were Rs. 1689 crore compared to Rs. 1755 crore of FY20. The EBITDA for the year was Rs. 233 crore as compared to Rs 227 crore of corresponding year. The Net Profit (PAT) for FY21 was Rs. 181 crore as compared to Rs. 66 crore of corresponding year.

Standalone Australia

During this quarter, revenue from operations from Australia were Rs. 107 crore compared to Rs. 61 crore of Q4FY20, registering a growth of 75%. The EBITDA for the quarter was Rs. 9 crore as compared to Rs. 21 crore of corresponding quarter. (LY Rs. 15 crore due to change in Accounting Standard in Australia) and the Net Profit (PAT) was Rs. 1 crore compared to Rs. 0.50 crore of corresponding quarter.

During FY21 revenue from operations from Australia were Rs. 413 crore compared to Rs. 316 crore of FY20, registering a growth of 31%. The EBITDA for the year was Rs. 69 crore as compared to Rs. 52 crore of corresponding year. Net Profit (PAT) was Rs. 27 crore compared to Rs. 19 crore of corresponding year.

Standalone Spain

During this quarter, revenue from operations from Spain was Rs. 93 crore compared to Rs. 53 crore of Q4FY20, registering a growth of 76%. The EBITDA for the quarter was Rs. 6 crore as compared to Rs. 10 crore of corresponding quarter and the Net Profit (PAT) was Rs. 4 crore compared to Rs. 6 crore of corresponding quarter.

During FY21 revenue from operations from Spain was Rs. 336 crore. The EBITDA for the year was Rs. 54 crore and the Net Profit (PAT) was Rs. 35 crore.

Consolidated performance for the year ended Mar'21

Net sales (including other operating income) of Sheela Foam has increased 12.04% to Rs 2435.36 crore. Operating profit margin has jumped from 13.82% to 14.88%, leading to 20.61% rise in operating profit to Rs 362.31 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 50.03% to 56.01%. Purchase of finished goods cost fell from 0.83% to 0.74%. Employee cost decreased from 10.13% to 9.49%. Other expenses fell from 25.21% to 18.92%. Other direct service cost fell from 3.25% to 2.42%.

Other income rose 30.23% to Rs 52.08 crore. Provision for interest rose 36% to Rs 17.68 crore. Loan funds rose to Rs 334.22 crore as of 31 March 2021 from Rs 291.48 crore as of 31 March 2020. Inventories rose to Rs 315.31 crore as of 31 March 2021 from Rs 226.86 crore as of 31 March 2020. Sundry debtors were higher at Rs 302.15 crore as of 31 March 2021 compared to Rs 215.78 crore as of 31 March 2020. Cash and bank balance rose to Rs 58.10 crore as of 31 March 2021 from Rs 44.62 crore as of 31 March 2020. Investments rose to Rs 410.61 crore as of 31 March 2021 from Rs 231.43 crore as of 31 March 2020.

Provision for depreciation rose 23.42% to Rs 72.87 crore. Fixed assets increased to Rs 663.39 crore as of 31 March 2021 from Rs 614.13 crore as of 31 March 2020. Intangible assets increased from Rs 254.59 crore to Rs 263.07 crore.

Profit before EO grew 20.67% to Rs 323.84 crore. The company reported nil EO items compared to EO expense of Rs 11.99 crore related to write off of an insurance claim towards the fire in 216-17 in its unit at Greater Noida unit. PBT after EO was up 26% to Rs 323.84 crore.

Provision for tax was expense of Rs 83.69 crore, compared to Rs 62.08 crore. Effective tax rate was 25.84% compared to 24.22%.

Minority interest increased 182.56% to Rs 2.43 crore. Net profit attributable to owners of the company increased 22.90% to Rs 237.72 crore.

Promoters' stake was 72.95% as of 31 March 2021 compared to 75.00% as of 31 March 2020.

Cash flow from operating activities increased to Rs 260.30 crore for year ended March 2021 from Rs 157.31 crore for year ended March 2020. Cash flow used in acquiring fixed assets during the year ended March 2021 stood at Rs 64.75 crore, compared to Rs 404.94 crore during the year ended March 2020.

The scrip is currently trading around Rs 2034 on the BSE