Sheela Foam

Q1 FY26Consumer Durables

Sheela Foam Q1 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q1 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹647

Market cap₹7.3K Cr

P/E35.7

Updated26 Aug 2026

Read5 min read

The short version

The company targets around 15% top-line growth over the next few years, driven by market share gains and premiumization (Page 18). - Volumes in the mattress segment showed 9%-10% growth in recent quarters, with expectations of market share expansion irrespective of overall demand (Page 17-18). - The Tarang and Aaram brands achieved a run rate of Rs. Q1 FY '26 showed robust performance with expectations of continued improvement. - Company targets approximately 15% revenue growth annually for the coming years. - Operating expenses expected to remain largely flat this year due to cost-saving initiatives, despite inflation. - EBITDA margins projected to improve towards 14%-15% within three years, aided by cost savings and operating leverage. - Net profit (PAT) expected between Rs.

From Sheela Foam's Q1 FY26 earnings-call transcript · updated 26 Aug 2026.

Revenue & Sales Performance

The company targets around 15% top-line growth over the next few years, driven by market share gains and premiumization (Page 18).
Volumes in the mattress segment showed 9%-10% growth in recent quarters, with expectations of market share expansion irrespective of overall demand (Page 17-18).
The Tarang and Aaram brands achieved a run rate of Rs. 80 crores per annum in Q1 FY ‘26, targeting to cross Rs. 100 crores by year-end, indicating strong growth potential, especially in rural markets (Page 22, Page 8).
Online (e-com) revenues aim to grow approximately 50% year-on-year with cautious optimism on sustainable growth beyond that rate (Page 10).
The foam segment volume growth is around 6%-8%, with value growth lower due to raw material price pass-through (Page 13).
Expansion plans include increasing Kurlon store count and opening new showrooms to support sales growth (Page 10).
No significant CAPEX planned before 2029-2030; growth will be driven by operating leverage and market expansion (Page 14).

Profitability & Margins

Q1 FY '26 showed robust performance with expectations of continued improvement.
Company targets approximately 15% revenue growth annually for the coming years.
Operating expenses expected to remain largely flat this year due to cost-saving initiatives, despite inflation.
EBITDA margins projected to improve towards 14%-15% within three years, aided by cost savings and operating leverage.
Net profit (PAT) expected between Rs. 150 crores to Rs. 200 crores for the current year.
Plans to reduce net debt by Rs. 300-350 crores through cash generation and asset monetization, positively impacting interest costs and EPS.
EPS expected to be diluted in near term due to interest and appreciation, but guided growth and profitability suggest recovery over time.
Synergy savings of Rs. 130-190 crores from Kurlon integration supporting margin expansion.
Normalized other income expected in the range of Rs. 30-40 crores per quarter, supporting overall profitability.

See what Sheela Foam said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

No major fresh CAPEX is planned before 2029-2030; brownfield maintenance CAPEX will continue annually. (Page 13-14)
Focus on capacity utilization by organizing facilities into zones with foam and mattress manufacturing combined for operational efficiency. (Page 13)
Exploring retail expansion, including opening around 1,000 new showrooms primarily driven by Kurlon brand expansion in North and West India. (Page 11)
Investing in strengthening the channel network, new product launches, and management team enhancements to drive growth and profitability. (Page 12)
Investments made in Dubai and GCC countries via retail pilots with plans to scale after initial evaluations; these are own brands Sleepwell and Kurlon. (Page 8-9)
No immediate plans for large acquisitions in Furlenco; current focus on growth with potential equity infusion of Rs. 100-125 crores, with a decision on further acquisitions/IPO targeted around FY ‘27. (Page 15-16)

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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

- Sheela Foam is currently involved in a fundraising process for Furlenco, looking to raise around Rs. 100 to Rs. 125 crores in fresh equity. - Sheela Foam may participate partially to avoid dilution but is also open to outside equity infusion. - There is no current plan to acquire full control of Furlenco; the focus remains on growth and reassessment by FY ‘27. - For Sheela Foam group, they are focused on reducing debt by Rs. 300 to Rs. 350 crores through PAT generation and asset monetization. - No major CAPEX is planned before 2029-2030, and no immediate large-scale debt raising mentioned. - The company has sold some non-core assets worth about Rs. 40 crores and is in the process of monetizing two larger facilities. Overall, the focus is on controlled equity participation in Furlenco and internal debt reduction via asset monetization and profits, with no new large-scale debt or equity fundraises announced.

See what Sheela Foam said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The transcript pages provided from the Sheela Foam Limited conference call do not mention any details about the current or expected order book or pending orders. There is no information related to order backlogs or pending order status in the discussed content. The focus of the discussion is primarily on: - Q1 financial performance and growth outlook - Synergies from Kurlon integration - Revenue and volume growth, especially in mattress and e-commerce segments - Market expansion plans including retail network growth and international markets - Warranty policies and cost management - Furlenco subscription business growth and capital raise If you need detailed order book or pending order data, this information is not present on page 23 or surrounding pages referenced. Please provide specific pages or sections if available.

Sheela Foam — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹1.1K Cr, net profit ₹92 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Sheela Foam Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Sheela Foam Q1 FY26 results?

What is Sheela Foam share price analysis?

Sheela Foam currently shows a neutral. The stock trades at a P/E of 35.7 with a market cap of ₹7,261 Cr. Investors should review the full earnings analysis for detailed insights.

Is Sheela Foam planning capital expenditure?

No major fresh CAPEX is planned before 2029-2030; brownfield maintenance CAPEX will continue annually.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.