Sheela Foam Ltd. · NSE:SFL
Sheela Foam — Q3 FY2023 Earnings Presentation
23 slides from Sheela Foam's earnings presentation, Feb 3, 2023
Slide 1: Exchange filing cover letter
Date: February 03, 2023 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 Q3/9M-FY23
Sheela Foam Ltd. Earnings Presentation Q3/9M-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: Q3/9M-FY23 Performance Highlights
Q3/9M-FY23 Performance Highlights Earnings Presentation Q3-FY23 4
Slide 6: Q3/9M-FY23 Financial and Operational Highlights
Q3/9M-FY23 Financial and Operational Highlights Q3-FY23 Consolidated Financial Performance Q3/9M-FY23 Operational Highlights • Decline in quarterly revenues primarily attributed to weaker INR 757 Mn INR 612 Mn INR 6.27 than expected demand and a higher base in FY22 due to pent Basic/ up demand drive
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) 8, 000 20. 00% 8,830 10, 000 25. 00% 7, 000 6,511 18. 00% 9, 000 8,170 6, 000 5,692 16. 00% 25. 00% 8, 000 20. 00% 1,144 14. 00% 1, 400 7, 000 5, 000 1, 400 1,206 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) 2,664 2,328 1,435 1,655 1,315 866 703 1,214 Q3-FY22 Q3-FY23 Q3-FY22 Q3-FY23 Q3-FY22 Q3-FY23 Q3-FY22 Q3-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) 6,531 6,597 4,122 3,816 3,235 3,447 2,031 1,969 9M-FY22 9M-FY23 9M-FY22 9M-FY23 9M-FY22 9M-FY23 9M-FY22 9M-FY23 Mattresses (Volumes in 000’s) Furniture Fo
Slide 10: Raw Material Prices and Gross Margins (%)
Raw Material Prices and Gross Margins (%) TDI & Polyol Price Trend (INR/KG) SFL Consolidated Gross Margins (%) 267 44.6% 42.2% 227 39.2% 39.8% 212 248 37.4% 243 203 178 174 131 119 Q3-FY22 Q4-FY22 Q1-FY23 Q2-FY23 Q3-FY23 Q3-FY22 Q4-FY22 Q1-FY23 Q2-FY23 Q3-FY23 TDI POLYOL Gross Margins (%) SFL India
Slide 11: Quarterly Standalone Financial Performance
Quarterly Standalone Financial Performance Particulars (INR Mn) Q3-FY23 Q3-FY22 Y-O-Y Q2-FY23 Q-O-Q Revenue from Operations 5,692 6,511 (12.6)% 5,334 6.7% Operating Expenses 5,170 5,788 (10.7)% 4,704 9.9% EBITDA 522 723 (27.8)% 630 (17.1)% EBITDA Margin (%) 9.17% 11.10% (193) Bps 11.81% (264) Bps Ot
Slide 12: YTD Standalone Income Statement
YTD Standalone Income Statement PARTICULARS (INR Mn) 9M-FY23 9M-FY22 Y-o-Y Operational Revenue 16,170 15,647 3.3% Operating Expenses 14,570 13,819 5.4% EBITDA 1,600 1,828 (12.5)% EBITDA Margins (%) 9.89% 11.68% (179 Bps Other Income 602 511 17.8% Depreciation 236 238 (0.8)% Finance Cost 56 64 (12.5)
Slide 13: Quarterly Consolidated Financial Performance
Quarterly Consolidated Financial Performance Particulars (INR Mn) Q3-FY23 Q3-FY22 Y-O-Y Q2-FY23 Q-O-Q Revenue from Operations 8,170 8,830 (7.5)% 7,222 13.1% Operating Expenses 7,413 7,863 (5.7)% 6,439 15.1% EBITDA 757 967 (21.7)% 783 (3.3)% EBITDA Margin (%) 9.27% 10.95% (168) Bps 10.84% (157) Bps O
Slide 14: YTD Consolidated Income Statement
YTD Consolidated Income Statement PARTICULARS (INR Mn) 9M-FY23 9M-FY22 Y-o-Y Operational Revenue 22,683 22,221 2.1% Operating Expenses 20,484 19,751 3.7% EBITDA 2,199 2,470 (11.0)% EBITDA Margins (%) 9.69% 11.12% (143) Bps Other Income 691 595 16.1% Depreciation 636 571 11.4% Finance Cost 151 148 2.
Slide 15: Historical Financial Overview
Historical Financial Overview Earnings Presentation Q3-FY23 14
Slide 16: Historical Standalone Income Statement
Historical Standalone Income Statement PARTICULARS (INR Mn) FY20 FY21 FY22 9M-FY23 Operational Revenue 17,548 16,939 21,244 16,170 Operating Expenses 15,278 14,566 18,906 14,570 EBITDA 2,270 2,373 2,338 1,600 EBITDA Margins (%) 12.94% 14.01% 11.01% 9.89% Other Income 413 474 702 602 Depreciation 331
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) FY20 FY21 FY22 9M-FY23 Operational Revenue 21,736 24,372 29,818 22,683 Operating Expenses 18,732 20,730 26,669 20,484 EBITDA 3,004 3,642 3,149 2,199 EBITDA Margins (%) 13.82% 14.94% 10.56% 9.69% Other Income 400 502 792 691 Depreciation 5
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, 500 25. 00% 3, 500 3,149 2,187 24,372 3,004 25. 00% 22,683 1,943 21,736 3, 000 2, 000 20. 00% 1,573 20. 00% 2, 500 2,199 1,
Slide 21: Capital Market Data
Capital Market Data 1 year Stock Performance (As on 31st December 2022) 30% 20% 10% 0% -10% -20% -30% Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Sheela Foam Midcap Index Sensex Shareholding Pattern as on 31st December, 2022 Price Data (As on 31st December, 20
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 Q3-FY23 22