Sheela Foam Ltd. · NSE:SFL
Sheela Foam — Q2 FY2023 Earnings Presentation
23 slides from Sheela Foam's earnings presentation, Nov 8, 2022
Slide 1: Investor presentation cover letter to stock exchanges
Date: November 08, 2022 To The Secretary The Manager, (Listing Department) The National Stock Exchange India Limited The BSE Limited Exchange Plaza, Bandra Kurla Complex Phiroze Jeejeebhoy Towers Bandra(E), Mumbai-400051 Dalal Street, Mumbai-400001 BSE Scrip Code: 540203 NSE Symbol: SFL Subject: Inv
Slide 2: Sheela Foam Ltd. Earnings Presentation Q2/H1-FY23
Sheela Foam Ltd. Earnings Presentation Q2/H1-FY23
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 20-25% 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 the market leader and 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 polyuret
Slide 5: Q2/H1-FY23 Performance Highlights
Q2/H1-FY23 Performance Highlights Earnings Presentation Q2-FY23 4
Slide 6: Q2/H1-FY23 Financial and Operational Highlights
Q2/H1-FY23 Financial and Operational Highlights Q2-FY23 Consolidated Financial Performance Q2/H1-FY23 Operational Highlights • Gross Margins improved due to improved raw material scenario, with Polyol prices continued their consistent downward correction, while INR 783 Mn INR 536 Mn INR 10.98 TDI pr
Slide 7: Quarterly and YTD Geographical Revenues
Quarterly and YTD Geographical Revenues SFL India (INR Mn) Australia - Joyce (INR Mn) Spain - Interplasp (INR Mn) Consolidated (INR Mn) 10, 000 15. 00% 14.00% 7,856 9, 000 13. 00% 7, 000 5,857 20. 00% 8, 000 7,221 6, 000 5,334 18. 00% 7, 000 10.80% 11. 00% 1, 300 20. 00% 1,058 16. 00% 9. 00% 15.36%
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) 2,470 1,452 1,437 2,075 1,170 780 1,156 640 Q2-FY22 Q2-FY23 Q2-FY22 Q2-FY23 Q2-FY22 Q2-FY23 Q2-FY22 Q2-FY23 Mattresses (Volumes in 000’s) Furniture
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) 4,270 3,867 2,688 2,233 2,161 1267 1,920 1,165 H1-FY22 H1-FY23 H1-FY22 H1-FY23 H1-FY22 H1-FY23 H1-FY22 H1-FY23 Mattresses (Volumes in 000’s) Furniture Foa
Slide 10: Raw Material Prices and Gross Margins
Raw Material Prices and Gross Margins TDI & Polyol Price Trend SFL Consolidated Gross Margins (%) 267 44.6% 227 39.9% 39.8% 39.1% 212 248 37.4% 200 203 178 174 173 131 Q2-FY22 Q3-FY22 Q4-FY22 Q1-FY23 Q2-FY23 Q2-FY22 Q3-FY22 Q4-FY22 Q1-FY23 Q2-FY23 TDI POLYOL Gross Margins (%) SFL India Australia - J
Slide 11: Quarterly Standalone Financial Performance
Quarterly Standalone Financial Performance Particulars (INR Mn) Q2-FY23 Q2-FY22 Y-O-Y Q1-FY23 Q-O-Q Revenue from Operations 5,334 5,857 (8.9)% 5,144 3.7% Operating Expenses 4,705 4,961 (5.2)% 4,695 0.2% EBITDA 629 896 (29.8)% 449 40.1% EBITDA Margin (%) 11.79% 15.30% (351) Bps 8.73% 306 Bps Other In
Slide 12: YTD Standalone Income Statement
YTD Standalone Income Statement PARTICULARS (INR Mn) H1-FY23 H1-FY22 Y-o-Y Operational Revenue 10,478 9,113 15.0% Operating Expenses 9,399 8,032 17.0% EBITDA 1,079 1,081 (0.2)% EBITDA Margins (%) 10.30% 11.86% (156) Bps Other Income 360 311 15.8% Depreciation 151 150 0.7% Finance Cost 47 42 11.9% PB
Slide 13: Quarterly Consolidated Financial Performance
Quarterly Consolidated Financial Performance Particulars (INR Mn) Q2-FY23 Q2-FY22 Y-O-Y Q1-FY23 Q-O-Q Revenue from Operations 7,222 7,856 (8.1)% 7,291 (1.0)% Operating Expenses 6,439 6,758 (4.7)% 6,633 (2.9)% EBITDA 783 1,098 (28.8)% 658 19.0% EBITDA Margin (%) 10.84% 13.98% (314) Bps 9.02% 182 Bps
Slide 14: YTD Consolidated Income Statement
YTD Consolidated Income Statement PARTICULARS (INR Mn) H1-FY23 H1-FY22 Y-o-Y Operational Revenue 14,513 13,369 8.6% Operating Expenses 13,071 11,888 10.0% EBITDA 1,442 1,481 (2.6)% EBITDA Margins (%) 9.94% 11.08% (114) Bps Other Income 409 357 14.6% Depreciation 411 371 10.8% Finance Cost 103 91 13.
Slide 15: Historical Financial Overview
Historical Financial Overview Earnings Presentation Q2-FY23 14
Slide 16: Historical Standalone Income Statement
Historical Standalone Income Statement PARTICULARS (INR Mn) FY19 FY20 FY21 FY22 H1-FY23 Operational Revenue 18,138 17,548 16,939 21,244 10,478 Operating Expenses 16,302 15,278 14,566 18,906 9,399 EBITDA 1,835 2,270 2,373 2,338 1,079 EBITDA Margins (%) 10.12% 12.94% 14.01% 11.01% 10.30% Other Income
Slide 17: Historical Standalone Balance Sheet
Historical Standalone Balance Sheet PARTICULARS (INR Mn) FY21 FY22 H1-FY23 PARTICULARS (INR Mn) FY21 FY22 H1-FY23 ASSETS EQUITY & LIABILITIES Non-current Assets 8,497 11,159 10,020 Equity 10,134 12,095 12,972 Property, Plant & Equipment 2,536 2,350 2,354 (A) Share Capital 244 244 244 Capital Work In
Slide 18: Historical Consolidated Income Statement
Historical Consolidated Income Statement PARTICULARS (INR Mn) FY19 FY20 FY21 FY22 H1-FY23 Operational Revenue 21,414 21,736 24,372 29,818 14,513 Operating Expenses 19,305 18,732 20,730 26,669 13,071 EBITDA 2,109 3,004 3,642 3,149 1,442 EBITDA Margins (%) 9.85% 13.82% 14.94% 10.56% 9.94% Other Income
Slide 19: Historical Consolidated Balance Sheet
Historical Consolidated Balance Sheet PARTICULARS (INR Mn) FY21 FY22 H1-FY23 PARTICULARS (INR Mn) FY21 FY22 H1-FY23 ASSETS EQUITY & LIABILITIES Non-current Assets 12,381 15,589 14,794 Equity 11,932 14,002 14,995 Property, Plant & Equipment 4,300 4,355 5,568 (A) Share Capital 244 244 244 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% 29,818 4, 000 3,642 30. 00% 2,402 2,187 2, 500 25. 00% 3, 500 3,004 3,149 25. 00% 24,372 3, 000 1,943 21,414 21,736 2, 000 20. 00% 20. 00% 2, 500 2,109 1, 500 1
Slide 21: Capital Market Information
Capital Market Information 1- year Stock Performance (Up to 30th September 2022) 70% 60% 50% 40% 30% 20% 10% 0% -10% -20% Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Sheela Foam Midcap Index Sensex Shareholding Pattern as on 30th September 2022 Price Data as o
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-FY23 22