Sheela Foam Ltd. · NSE:SFL
Sheela Foam — Q2 FY24 Earnings Presentation
23 slides from Sheela Foam's earnings presentation, Nov 3, 2023
Slide 1: Investor Presentation cover letter to exchanges
November 02, 2023 To The BSE Limited The National Stock Exchange India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex Dalal Street, Mumbai-400001 Bandra(E), Mumbai-400051 Scrip Code: 540203 NSE Symbol: SFL Subject: Investor Presentation Dear Sir/Madam, Furtherance to our inti
Slide 2: Sheela Foam Ltd. Earnings Presentation Q2/H1-FY24
Sheela Foam Ltd. Earnings Presentation Q2/H1-FY24
Slide 3: Company Snapshot
Company Experienced Snapshot Management ‘Sleepwell’ mattresses a Backward Integrated household Brand and Player with a wide one of the most trusted product basket brands in India Largest 30-35% Market Share 40% market share in Presence across manufacturers of PU in the Mattresses Australia multiple
Slide 4: Company Overview
Company Overview • Incorporated in 1971, Sheela Foam is one of the largest manufacturer of Polyurethane Foam (PU) in India. India Operations • The Company manufactures various foam-based home comfort products like mattresses, furniture cushions, as well as technical grades of polyurethane foams for
Slide 5: Q2/H1-FY24 Performance Highlights
Q2/ H1-FY24 Performance Highlights Earnings Presentation Q2/H1-FY24 4
Slide 6: Q2/H1-FY24 Financial and Operational Highlights
Q2/H1-FY24 Financial and Operational Highlights Q2-FY24 Consolidated Financial Performance Q2/H1-FY24 Operational Highlights • Consolidated Gross Margin improved from 37 % to 39% on a QoQ basis INR 443 Mn INR 4.48 and from 40% to 41% on a YoY primarily because of lower raw material INR 663 Mn Basic/
Slide 7: Quarterly and Annual Geographical Revenues
Quarterly and Annual Geographical Revenues 8,000 SFL India (INR Mn) 20.00% Australia - Joyce (INR Mn) Spain - Interplasp (INR Mn) Consolidated (INR Mn) 10,000 25.00% 18.00% 7,000 9,000 16.00% 6,827 8,000 20.00% 6,000 4,957 14.00% 5,000 4,169 25.00% 7,000 6,132 12.69% 1,041 12.00% 1,030 1,395 6,000 1
Slide 8: Quarterly Business Segment Revenues
Quarterly Business Segment Revenues Mattresses (INR Mn) Furniture Foam (INR Mn) Technical FoamFoam Technical (INR Mn) Comfort Foam and HC Line (INR Mn) 1,926 1,676 1,353 1,130 1,074 595 509 835 Q2-FY23 Q2-FY24 Q2-FY23 Q2-FY24 Q2-FY23 Q2-FY24 Q2-FY23 Q2-FY24 Mattresses (Volumes in 000’s) Furniture Fo
Slide 9: YTD Business Segment Revenues
YTD Business Segment Revenues Mattresses (INR Mn) Furniture Foam (INR Mn) Technical FoamFoam Technical (INR Mn) Comfort Foam and HC Line (INR Mn) 4,014 3,435 1,000 2,081 1,780 1,192 1,086 2,529 2,310 100 H1-FY23 H1-FY24 H1-FY23 H1-FY24 H1-FY23 H1-FY24 H1-FY23 H1-FY24 Mattresses (Volumes in 000’s) Fu
Slide 10: Raw Material Prices and Gross Margins (%)
Raw Material Prices and Gross Margins (%) TDI & Polyol Price Trend (INR/KG) SFL Consolidated Gross Margins (%) 39.9% 39.4% 40.6% 38.7% 248 243 37.0% 231 209 191 131 139 130 125 119 Q2-FY23 Q3-FY23 Q4-FY23 Q1-FY24 Q2-FY24 Q2-FY23 Q3-FY23 Q4-FY23 Q1-FY24 Q2-FY24 TDI POLYOL Gross Margins (%) SFL India
Slide 11: Quarterly Standalone Financial Performance
Quarterly Standalone Financial Performance Particulars (INR Mn) Q2-FY24 Q2-FY23 Y-O-Y Q1-FY24 Q-O-Q Revenue from Operations 4,169 4,958 (15.9)% 4,478 (6.9)% Operating Expenses 3,683 4,330 (14.9)% 3,859 (4.6)% EBITDA 486 628 (22.6)% 619 (21.5)% EBITDA Margin (%) 11.66% 12.67% (101) Bps 13.82% (216) B
Slide 12: YTD Standalone Income Statement
YTD Standalone Income Statement Particulars (INR Mn) H1-FY24 H1-FY23 Y-O-Y Revenue from Operations 8,648 9,835 (12.1)% Operating Expenses 7,544 8,756 (13.8)% EBITDA 1,104 1,079 2.3% EBITDA Margin (%) 12.77% 10.97% 180 Bps Other Income 466 351 32.8% Depreciation 198 151 31.1% Finance Cost 43 38 13.2%
Slide 13: Quarterly Consolidated Financial Performance
Quarterly Consolidated Financial Performance Particulars (INR Mn) Q2-FY24 Q2-FY23 Y-O-Y Q1-FY24 Q-O-Q Revenue from Operations 6,132 6,827 (10.2)% 6,451 (4.9)% Operating Expenses 5,469 6,044 (9.5)% 5,674 (3.6)% EBITDA 663 783 (15.3)% 777 (14.7)% EBITDA Margin (%) 10.81% 11.47% (66) Bps 12.04% (123) B
Slide 14: YTD Consolidated Income Statement
YTD Consolidated Income Statement Particulars (INR Mn) H1-FY24 H1-FY23 Y-O-Y Revenue from Operations 12,583 13,834 (9.0)% Operating Expenses 11,145 12,392 (10.1)% EBITDA 1,438 1,442 (0.3)% EBITDA Margin (%) 11.43% 10.42% 101 Bps Other Income 486 400 21.5% Depreciation 445 412 8.0% Finance Cost 164 9
Slide 15: Historical Financial Overview
Historical Financial Overview Earnings Presentation Q2/H1-FY24 14
Slide 16: Historical Standalone Income Statement
Historical Standalone Income Statement PARTICULARS (INR Mn) FY20 FY21 FY22 FY23 H1-FY24 Operational Revenue 16,344 16,117 20,082 20,198 8,648 Operating Expenses 14,074 13,744 17,744 17,975 7,544 EBITDA 2,270 2,373 2,338 2,223 1,104 EBITDA Margins (%) 13.89% 14.72% 11.64% 11.01% 12.77% Other Income 4
Slide 17: Historical Standalone Balance Sheet
Historical Standalone Balance Sheet PARTICULARS (INR Mn) FY22 FY23 H1-FY24 PARTICULARS (INR Mn) FY22 FY23 H1-FY24 ASSETS EQUITY & LIABILITIES Non-current Assets 11,171 6,909 11,630 Equity 12,095 13,958 26,682 Property, Plant & Equipment 2,350 2,371 2,344 (a) Share Capital 244 488 543 Capital Work In
Slide 18: Historical Consolidated Income Statement
Historical Consolidated Income Statement PARTICULARS (INR Mn) FY20 FY21 FY22 FY23 H1-FY24 Operational Revenue 20,532 23,550 28,656 28,733 12,583 Operating Expenses 17,528 19,908 25,507 25,760 11,145 EBITDA 3,004 3,642 3,149 2,973 1,438 EBITDA Margins (%) 14.63% 15.46% 10.99% 10.35% 11.43% Other Inco
Slide 19: Historical Consolidated Balance Sheet
Historical Consolidated Balance Sheet PARTICULARS (INR Mn) FY22 FY23 H1-FY24 PARTICULARS (INR Mn) FY22 FY23 H1-FY24 ASSETS EQUITY & LIABILITIES Non-current Assets 15,767 12,775 17,971 Equity 14,002 16,087 28,690 Property, Plant & Equipment 4,355 4,290 4,819 (a) Share Capital 244 488 543 Capital Work
Slide 20: Consolidated Financial Performance
Consolidated Financial Performance Revenues (INR Mn) EBITDA (INR Mn) and EBITDA Margins (%) PAT (INR Mn) and PAT Margins (%) 3,000 30.00% 4,000 3,642 30.00% 2,402 28,656 28,733 2,500 25.00% 3,500 3,149 2,187 3,004 2,973 25.00% 2,031 23,550 3,000 2,000 1,943 20.00% 20,532 2,500 20.00% 1,500 15.00% 2,
Slide 21: Capital Market Data
Capital Market Data 1 year stock performance (As on 30th September, 2023) 40% 30% 20% 10% 0% -10% -20% -30% -40% Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Sheela Sensex Midcap Shareholding Pattern as on 30th September, 2023 Price Data (As on 30st September,
Slide 22: Disclaimer
Disclaimer No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the d
Slide 23: THANK YOU
THANK YOU Earnings Presentation Q2/H1-FY24 22