Sheela Foam Ltd. · NSE:SFL
Sheela Foam — Q2 FY25 Earnings Presentation
60 slides from Sheela Foam's earnings presentation, Oct 29, 2024
Slide 1: Investor Presentation filing cover letter
October 29, 2024 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 intim
Slide 2: Earnings Presentation Q2 & H1 - FY25
SHEELAFOAMLIMITED Earnings Presentation Q2 & H1 - FY25
Slide 3: Leading the science of comfort in three continents
INDIA AUSTRALIA Leading the science BRISBANE PERTH ADELAIDE SYDNEY AUCKLAND of comfort in three MELBOURNE continents NEW ZEALAND
Slide 4: Sheela Foam: Safe Harbour Statement
Sheela Foam: Safe Harbour Statement All statements included or incorporated by reference in this presentation, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates, and project
Slide 5: Company Snapshot
Company Snapshot ~30% Market Share in Consistent Experienced the mattresses Positive cash flow management segment generation ‘Sleepwell’ ‘Kurlon’ are Strategic move to 40% market share amongst the most trusted focus on high in Australia brands in India margin products Backward Integrated Presence ac
Slide 6: Global Footprint
Global Footprint Kala Amb (HP) Rajpura (Punjab) Roorkee Surajpur (UP) Sahibabad (UP) Greater Noida (UP) Gwalior Jalpaiguri (WB) Jabalpur Jhagadia Talwada (Gujarat) Nandigram Silvassa (D&N Haveli) Bhubaneshwar Hyderabad (Telangana) Spain India Mfg. Units : 1 Mfg. Units : 18 Capacity: 22,000 MT Capaci
Slide 7: Indian brands, International brands
Indian brands International brands Australian subsidiary Spanish subsidiary Joyce Pty. Ltd. Interplasp S.L
Slide 8: India Business
INDIA BUSINESS plus +
Slide 9: Q2 & H1-FY25 Financial Performance
Q2 & H1-FY25 | Financial Performance Q2 | FY25 - Standalone H1 | FY25 - Standalone INR 602 Cr INR 70 Cr 11.7% INR 1106 Cr INR 118 Cr 10.7% IncomefromOperations EBITDA EBIDTAMargins IncomefromOperations EBITDA EBIDTAMargins 42%YoY 54%YoY 26%YoY 11%YoY Q2 | FY25 - Consolidated H1 | FY25 - Consolidated
Slide 10: India Business Results (SFL + KEL): Q2 & H1 FY25
India Business Results (SFL + KEL) : Q2 & H1 FY25 (INR Cr.) Q2 FY24* Q1 FY25 Q2 FY25 H1 FY24* H1 FY25 TOTAL REVENUE 423 605 625 885 1238 Gross Margin 39.9% 43.8% 44.5% 39.9% 44.5% OTHER EXPENSES 29.1% 36.0% 35.9% 27.6% 36.0% EBITDA 10.8% 7.7% 8.6% 12.2% 8.5% *ExcludingKEL
Slide 11: India Business Results | Q2 FY25 (SFL + KEL)
India Business Results | Q2 FY25 (SFL + KEL) Q2 FY25 TOTAL REVENUE 625 Cr REPORTED EBITDA 8.6% ONE TIME ADJUSTEMENT* 6.3 Cr SUSTAINABLE EBITDA 9.6% *related to MTM, Assets write-offs for RDCs etc.
Slide 12: Operational Highlights for Q2 & H1 - FY25
Operational Highlights for Q2 & H1 - FY25 KEY CALLOUTS
Slide 13: SFL + KEL Integration: Status
SFL+ KEL Integration: Status KEY CALLOUTS
Slide 14: Mattress | Segment Performance
Mattress | Segment Performance KEY CALLOUTS Q2 FY24* Q1 FY25 Q2 FY25 VALUE 177 Cr 309 Cr 300 Cr *Q2FY24-ExcludingKEL Q2 FY24* Q1 FY25 Q2 FY25 VOLUME 375K 737K 723K
Slide 15: Furniture Cushioning | Segment Performance
Furniture Cushioning| Segment Performance KEY CALLOUTS Q2 FY24* Q1 FY25 Q2 FY25 VALUE 51 Cr 49 Cr 50 Cr *Q2FY24-ExcludingKEL Q2 FY24* Q1 FY25 Q2 FY25 VOLUME 1232 Tn 1320 Tn 1354 Tn
Slide 16: Comfort Foam | Segment Performance
Comfort Foam| Segment Performance KEY CALLOUTS Q2 FY24* Q1 FY25 Q2 FY25 VALUE 60 Cr 105 Cr 115 Cr *Q2FY24-ExcludingKEL Q2 FY24* Q1 FY25 Q2 FY25 VOLUME 2876 Tn 5111 Tn 5764 Tn
Slide 17: Technical Foam | Segment Performance
Technical Foam| Segment Performance KEY CALLOUTS Q2 FY24* Q1 FY25 Q2 FY25 VALUE 115 Cr 116 Cr 128 Cr *Q2FY24-ExcludingKEL Q2 FY24* Q1 FY25 Q2 FY25 VOLUME 4012 Tn 4182 Tn 4729 Tn
Slide 18: Others | HCP & Scrap – Segment Performance
Others | HCP & SCRAP – Segment Performance Q2 FY24* Q1 FY25 Q2 FY25 VALUE 20 Cr 27 Cr 31 Cr *Q2FY24-ExcludingKEL Q2 FY24* Q1 FY25 Q2 FY25 VOLUME MIXED (N.A) MIXED (N.A) MIXED (N.A)
Slide 19: International Business & STAQO
INTERNATIONAL BUSINESS & STAQO
Slide 20: Australia | Q2 & H1 FY25
Australia | Q2 & H1 FY25 (INR Cr.) Q2 FY24 Q1 FY25 Q2 FY25 H1 FY24 H1 FY25 TOTAL REVENUE 104 96 105 204 202 Gross Margin 49.7% 49.1% 48.4% 48.3% 48.7% OTHER EXPENSES 42.0% 46.5% 46.3% 41.4% 46.4% EBITDA 7.7% 2.6% 2.1% 6.8% 2.4% HIGHLIGHTS
Slide 21: Spain | Q2 & H1 FY25
Spain | Q2 & H1 FY25 (INR Cr.) Q2 FY24 Q1 FY25 Q2 FY25 H1 FY24 H1 FY25 TOTAL REVENUE 84 90 86 171 175 Gross Margin 29.7% 27.2% 32.0% 28.4% 29.6% OTHER EXPENSES 18.2% 19.9% 20.1% 17.8% 20.0% EBITDA 11.5% 7.4% 11.9% 10.6% 9.6% HIGHLIGHTS
Slide 22: STAQO: Q2 & H1 FY25
STAQO : Q2 & H1 FY25 (INR Cr.) Q2 FY24 Q1 FY25 Q2 FY25 H1 FY24 H1 FY25 TOTAL REVENUE 9 12 12 15 24 Gross Margin 100.0% 100.0% 100.0% 100.0% 100.0% OTHER EXPENSES 75.3% 62.9% 68.3% 75.2% 65.7% EBITDA 24.7% 37.1% 31.7% 24.8% 34.3% HIGHLIGHTS
Slide 23: Consolidated Business
Consolidated Business plus --
Slide 24: Consolidated Business Summary | Q2 & H1 FY25
Consolidated Business Summary | Q2 & H1 FY25 (INR Cr.) Q2 FY24* Q1 FY25 Q2 FY25 H1 FY24* H1 FY25 TOTAL REVENUE 613 810 813 1258 1622 Gross Margin 40.6% 42.2% 44.9% 39.6% 43.6% OTHER EXPENSES 29.8% 34.9% 36.3% 28.2% 35.6% EBITDA 10.8% 7.4% 8.5% 11.4% 8.0% *ExcludingKEL
Slide 25: Raw Material Prices and Gross Margins
Raw Material | Prices and Gross Margins (%) TDI & Polyol Price Trend (INR/KG) SFL Consolidated Gross Margins* (%) 43.6% 44.9% 40.6% 41.7% 42.2% 191 190 201 188 189 125 124 132 126 115 Q2-FY24 Q3-FY24 Q4-FY24 Q1-FY25 Q2-FY25 Q2-FY24 Q3-FY24 Q4-FY24 Q1-FY25 Q2-FY25 TDI POLYOL Gross Margins (%) SFL Ind
Slide 26: Key Business Updates
Key Business Updates plus --
Slide 27: New Product Launches - Sleepwell
New Product Launches - Sleepwell
Slide 28: New Product Launches - Kurlon
New Product Launches - Kurlon
Slide 29: Mattress for every Indian
Mattress for every Indian We are committed to transforming lives in rural India by offering trusted comfortable products at affordable prices Our mission is to ensure that every Indian has access to superior quality and comfort Our products are designed to meet their needs without compromising on in
Slide 30: TARANG by Sleepwell
TARANG by Sleepwell Foldable • Convenient • Trusted comfort
Slide 31: AARAM by Kurlon
AARAM by Kurlon Foldable • Convenient • Trusted comfort
Slide 32: Expanding Distribution Network
Expanding Distribution Network Growing EBOs 5,751 6,074 4,965 4,471 3,932 3,326 FY20 FY21 FY22 FY23 FY24 H1-FY25 10,000+ MBOs
Slide 33: Brand Communication
Brand Communication SHEELA FOAM - EARNINGS PRESENTATION Q2-FY25 plus --
Slide 34: Limitless choices. Available at fingertips.
Limitlesschoices.Availableatfingertips. Ourextensiveproductrange,availableacrosstopmarketplaces,e-commerceplatformsand brand.comensures that every customer can access of over 50 years of trusted comfort, no matter where they are. Experience , convenience, variety, and trusted comfort - all in one pl
Slide 35: Kurlon brand campaign
|e SHEELA FOAM - EARNINGS PRESENTATION Q2-FY25 With the perfect balance of Kurlon mattresses, dance to the tune of comfort. Because when your back is happy, life is hula hula. kurlon.com Konnect: 81500 00103 kurlon plus --
Slide 36: Marketing Initiatives
Marketing Initiatives SHEELA FOAM - EARNINGS PRESENTATION Q2-FY25 plus --
Slide 37: Google my business
Google my business 2600+ Live Dealer Profiles (Sleepwell + KurlOn) Targeted reach and audience engagement for smart online-offline integration
Slide 38: Offline • Digital
Offline • Digital Our initiatives ensure we engage with customers at every touchpoint. We focus on building strong, authentic connections, driving both brand visibility and customer loyalty.
Slide 39: On Ground Brand Activation
On Ground Brand Activation SHEELA FOAM - EARNINGS PRESENTATION Q2-FY25 plus +. 0 a
Slide 40: Sleepwell in the News
Sleepwell in the News Indian Society of Sleep Research X Sleepwell Sleepwell is India’s No1. Mattress brand as per TOI -Collaboration for importance of sleep awareness
Slide 41: Digital Presence
Digital Presence SHEELA FOAM - EARNINGS PRESENTATION Q2-FY25 plus --
Slide 42: Digital Reach & Engagement
Digital Reach & Engagement 11.3 million 20K - Average engagement per brand post 33.7M - Total engagement One of the world’s strongest fully organic social 86.9M - Total reach media community
Slide 43: New & refreshed Kurlon brand website
New & refreshed Kurlon brand website
Slide 44: Channel Engagement
Channel Engagement SHEELA FOAM - EARNINGS PRESENTATION Q2-FY25 plus --
Slide 45: Integrated Channel Engagement
Integrated Channel Engagement Our dynamic events foster collaboration, drive motivation, and strengthen partnerships across the sales force and dealer network With sustained interactions, we ensure our partners are always aligned with our vision and motivated to achieve more.
Slide 46: Sleepwell Foundation – CSR Initiatives
Sleepwell Foundation – CSR Initiatives
Slide 47: Engaging with Community
Engaging with Community • Educating young minds on • Providing practical skills through • Organizing various upskilling • Reaching out to a wider practical bullying prevention diverse courses such as programs aimed at Teachers, audience through social strategies. Computer & Coding, Fashion Young Ent
Slide 48: Financials
Financials plus +
Slide 49: Quarterly Standalone Income Statement
Quarterly Standalone Income Statement (INR Cr) Particulars Q2-FY25 Q2-FY24 Y-O-Y Q1-FY25 Q-O-Q Revenue from Operations 602 423 42% 503 20% Operating Expenses 532 377 41% 456 17% EBITDA 71 46 55% 48 48% EBITDA Margin (%) 12% 11% 1% 10% 2% Other Income 29 22 30% 25 14% Depreciation 22 13 74% 19 13% Fi
Slide 50: Half Yearly Standalone Income Statement
Half Yearly Standalone Income Statement (INR Cr) Particulars H1-FY25 H1-FY24 Y-O-Y Revenue from Operations 1,106 879 26% Operating Expenses 988 773 28% EBITDA 118 106 11% EBITDA Margin (%) 11% 12% -1% Other Income 54 44 22% Depreciation 41 23 76% Finance Cost 43 6 6x PBT 88 122 -28% Exceptional Item
Slide 51: Quarterly Consolidated Income Statement
Quarterly Consolidated Income Statement (INR Cr) Particulars Q2-FY25 Q2-FY24 Y-O-Y Q1-FY25 Q-O-Q Revenue from Operations 813 613 33% 810 0% Operating Expenses 743 547 36% 750 1% EBITDA 69 66 4% 60 16% EBITDA Margin (%) 9% 11% -2% 7% 2% Other Income 32 24 30% 31 4% Depreciation 48 22 2.2x 40 -21% Fin
Slide 52: Half Yearly Consolidated Income Statement
Half Yearly Consolidated Income Statement (INR Cr) Particulars H1-FY25 H1-FY24 Y-O-Y Revenue from Operations 1,622 1,258 29% Operating Expenses 1,493 1,115 34% EBITDA 129 144 -10% EBITDA Margin (%) 8% 11% -3% Other Income 62 49 28% Depreciation 87 45 96% Finance Cost 57 16 3.5x PBT 48 132 -64% Excep
Slide 53: Historical Standalone Income Statement
Historical Standalone Income Statement (INR Cr) PARTICULARS FY21 FY22 FY23 FY24 H1-FY25 Operational Revenue 1,612 2,008 2,039 1,880 1,106 Operating Expenses 1,374 1,774 1,830 1,670 988 EBITDA 237 234 208 210 118 EBITDA Margins (%) 15% 12% 10% 11% 11% Other Income 47 70 75 97 54 Depreciation 33 32 41
Slide 54: Historical Consolidated Income Statement
Historical Consolidated Income Statement (INR Cr) PARTICULARS FY21 FY22 FY23 FY24 H1-FY25 Operational Revenue 2,355 2,866 2,873 2,982 1,622 Operating Expenses 1,991 2,551 2,576 2,682 1,493 EBITDA 364 315 297 301 129 EBITDA Margins (%) 15% 11% 10% 10% 8% Other Income 50 79 86 117 62 Depreciation 73 8
Slide 55: Historical Standalone Balance Sheet
Historical Standalone Balance Sheet (INR Cr) PARTICULARS FY23 FY24 H1-FY25 PARTICULARS FY23 FY24 H1-FY25 ASSETS EQUITY & LIABILITIES Non-current Assets 791 3,777 3,296 Equity 1,362 2,674 2,753 Property, Plant & Equipment 270 433 492 (a) Share Capital 49 54 54 Capital Work In Progress 103 80 31 (b) O
Slide 56: Historical Consolidated Balance Sheet
Historical Consolidated Balance Sheet (INR Cr) PARTICULARS FY23 FY24 H1-FY25 PARTICULARS FY23 FY24 H1-FY25 ASSETS EQUITY & LIABILITIES Non-current Assets 1,278 4,465 3,933 Property, Plant & Equipment 429 1,160 1,179 Equity 1,609 2,981 3,057 Capital Work In Progress 288 161 117 (a) Share Capital 49 5
Slide 57: Consolidated Historical Financial Performance
Consolidated Historical Financial Performance Revenues (INR Cr) EBITDA (INR Cr) and EBITDA Margins (%) PAT (INR Cr) and PAT Margins (%) 2,866 2,873 2,982 364 240 300 315 301 219 2,355 297 194 203 184 2,053 14.63% 15.46% 10.08% 10.99% 10.35% 9.46% 10.20% 7.63% 7.07% 6.17% FY20 FY21 FY22 FY23 FY24 FY2
Slide 58: Capital Market Data
Capital Market Data 1 year stock performance (As on 30th September, 2024) 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% -10.00% -20.00% -30.00% Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Sheela Sensex Midcap Price Data (As on 30th September, 2024) INR Share
Slide 59: 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 60: Thank you
Thank you