Sheela Foam Ltd. · NSE:SFL
Sheela Foam — Q4 FY23 Earnings Presentation
23 slides from Sheela Foam's earnings presentation, May 18, 2023
Slide 1: Cover letter to stock exchanges
18th May, 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 intimat
Slide 2: Sheela Foam Ltd. Earnings Presentation Q4-FY23/FY23
Sheela Foam Ltd. Earnings Presentation Q4-FY23/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 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 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: Q4-FY23/FY23 Performance Highlights
Q4-FY23/FY23 Performance Highlights Earnings Presentation Q4-FY23 4
Slide 6: Q4-FY23/FY23 Financial and Operational Highlights
Q4-FY23/FY23 Financial and Operational Highlights Q4-FY23 Consolidated Financial Performance Q4-FY23/FY23 Operational Highlights • Revenue growth was almost flat both on a QoQ and YoY basis primarily INR 458 Mn INR 4.69 because of a higher base in FY22 due to pent up demand post Covid-19 INR 775 Mn
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 7,368 7,290 16. 00% 6, 000 5,368 5,209 14. 00% 8, 000 20. 00% 7, 000 25. 00% 1,105 5, 000 1,066 12. 00% 1, 3
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) 2,104 2,061 1,377 1,235 1,269 700 1,079 664 Q4-FY22 Q4-FY23 Q4-FY22 Q4-FY23 Q4-FY22 Q4-FY23 Q4-FY22 Q4-FY23 Mattresses (Volumes in 000’s) Furniture
Slide 9: Annual Business Segment Revenues
Annual Business Segment Revenues Mattresses (INR Mn) Furniture Foam (INR Mn) Technical FoamFoam Technical (INR Mn) Comfort Foam and HC Line (INR Mn) 8,288 8,190 5,204 4,813 4,250 4,299 2,622 2,491 1,000 100 FY22 FY23 FY22 FY23 FY22 FY23 FY22 FY23 Mattresses (Volumes in 000’s) Furniture Foam (Volumes
Slide 10: Raw Material Prices and Gross Margins (%)
Raw Material Prices and Gross Margins (%) TDI & Polyol Price Trend (INR/KG) SFL Consolidated Gross Margins (%) 267 227 40.0% 39.4% 248 243 37.0% 231 35.3% 33.9% 178 174 131 130 119 Q4-FY22 Q1-FY23 Q2-FY23 Q3-FY23 Q4-FY23 Q4-FY22 Q1-FY23 Q2-FY23 Q3-FY23 Q4-FY23 TDI POLYOL Gross Margins (%) SFL India
Slide 11: Quarterly Standalone Financial Performance
Quarterly Standalone Financial Performance Particulars (INR Mn) Q4-FY23 Q4-FY22 Y-O-Y Q3-FY23 Q-O-Q Revenue from Operations 5,209 5,368 (3.0)% 5,154 1.1% Operating Expenses 4,586 4,818 (4.8)% 4,632 (1.0)% EBITDA 623 550 13.3% 522 19.3% EBITDA Margin (%) 11.96% 10.25% 171 bps 10.13% 183 bps Other Inc
Slide 12: Annual Standalone Income Statement
Annual Standalone Income Statement PARTICULARS (INR Mn) FY23 FY22 Y-o-Y Operational Revenue 20,198 20,082 0.6% Operating Expenses 17,975 17,744 1.3% EBITDA 2,223 2,338 (4.9)% EBITDA Margins (%) 11.01% 11.64% (63) Bps Other Income 786 702 12.0% Depreciation 338 324 4.3% Finance Cost 64 71 (9.9)% PBT
Slide 13: Quarterly Consolidated Financial Performance
Quarterly Consolidated Financial Performance Particulars (INR Mn) Q4-FY23 Q4-FY22 Y-O-Y Q3-FY23 Q-O-Q Revenue from Operations 7,290 7,368 (1.1)% 7,609 (4.2)% Operating Expenses 6,515 6,650 (2.0)% 6,852 (4.9)% EBITDA 775 718 7.9% 757 2.4% EBITDA Margin (%) 10.63% 9.74% 89 bps 9.95% 68 bps Other Incom
Slide 14: Annual Consolidated Income Statement
Annual Consolidated Income Statement PARTICULARS (INR Mn) FY23 FY22 Y-o-Y Operational Revenue 28,733 28,656 0.3% Operating Expenses 25,760 25,507 1.0% EBITDA 2,973 3,149 (5.6)% EBITDA Margins (%) 10.35% 10.99% (64) Bps Other Income 865 792 9.2% Depreciation 896 808 10.9% Finance Cost 211 169 24.9% P
Slide 15: Historical Financial Overview
Historical Financial Overview Earnings Presentation Q4-FY23 14
Slide 16: Historical Standalone Income Statement
Historical Standalone Income Statement PARTICULARS (INR Mn) FY20 FY21 FY22 FY23 Operational Revenue 16,344 16,117 20,082 20,198 Operating Expenses 14,074 13,744 17,744 17,975 EBITDA 2,270 2,373 2,338 2,223 EBITDA Margins (%) 13.89% 14.72% 11.64% 11.01% Other Income 413 474 702 786 Depreciation 331 3
Slide 17: Historical Standalone Balance Sheet
Historical Standalone Balance Sheet PARTICULARS (INR Mn) FY21 FY22 FY23 PARTICULARS (INR Mn) FY21 FY22 FY23 ASSETS EQUITY & LIABILITIES Non-current Assets 8,497 11,171 6,909 Equity 10,134 12,095 13,958 Property, Plant & Equipment 2,536 2,350 2,371 (A) Share Capital 244 244 488 Capital Work In Progre
Slide 18: Historical Consolidated Income Statement
Historical Consolidated Income Statement PARTICULARS (INR Mn) FY20 FY21 FY22 FY23 Operational Revenue 20,532 23,550 28,656 28,733 Operating Expenses 17,528 19,908 25,507 25,760 EBITDA 3,004 3,642 3,149 2,973 EBITDA Margins (%) 14.63% 15.46% 10.99% 10.35% Other Income 400 502 792 865 Depreciation 590
Slide 19: Historical Consolidated Balance Sheet
Historical Consolidated Balance Sheet PARTICULARS (INR Mn) FY21 FY22 FY23 PARTICULARS (INR Mn) FY21 FY22 FY23 ASSETS EQUITY & LIABILITIES Non-current Assets 12,381 15,767 12,775 Equity 11,932 14,002 16,087 Property, Plant & Equipment 4,300 4,355 4,290 (A) Share Capital 244 244 488 Capital Work In Pr
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,
Slide 21: Capital Market Data
Capital Market Data 1 year stock performance (As on 31st March 2023) 20% 10% 0% -10% -20% -30% -40% -50% Apr/22 May/22 Jun/22 Jul/22 Aug/22 Sep/22 Oct/22 Nov/22 Dec/22 Jan/23 Feb/23 Mar/23 Sheela Sensex Midcap Shareholding Pattern as on 31st March, 2023 Price Data (As on 31st March, 2023) INR Face V
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 Q4-FY23 22