Sheela Foam Limited is a leading player in India’s mattress and foam products industry and a leader in Polyurethane (PU) Foam. It has a nationwide presence in manufacturing PU Foam with a track record, since 1971.
Q3 FY26 Earnings Results
Revenue from Operations: ₹1,074 cr, up 11% YoY from ₹967 cr in Q3 FY25, +23% QoQ from ₹875 cr in Q2 FY26, driven by strong volume growth in mattresses (Sleepwell, Kurlon) and foam segments with substantial e-commerce contribution.
EBITDA / Core EBITDA: ₹117 cr, +39% YoY, 10.9% margin (+2.2% YoY expansion); total EBITDA ₹130 cr (+44.8% QoQ).
Profit After Tax (PAT): ₹53 cr, +551% QoQ from ₹7.61 cr in Q2 FY26, reflecting margin leverage and operational efficiencies.
9M YTD Performance: Revenue ₹2,771 cr (+7% YoY), Core EBITDA ₹293 cr (+34% YoY, 10.6% margin +2.1% YoY); standalone 9M revenue ₹2,143 cr (+6% YoY), Core EBITDA ₹224 cr (+33% YoY).
Management Commentary & Strategic Decisions
- Strong volume-led growth across mattresses/foam, e-commerce acceleration, and unorganized-to-organized channel expansion; international ops (Australia/Spain) showed revenue growth and margin improvement.
- Strategic moves: Strengthening omnichannel presence, Joyce/Interplasp integration benefits emerging; board approved Q3 results and Kurlon Enterprises share allotment.
Q2 FY26 Earnings Results
- Revenue from Operations: ₹885 cr, +6.5% YoY, +6.5% QoQ; mattress volumes +13%, foam +9%.
- Core EBITDA: ₹89.82 cr (+31% YoY H1 basis), margins >10%; PAT ₹9.66 cr (-51% YoY).
Management Commentary Q2
- Volume growth offset raw material price declines; deliberate margin investments for market share gains; H1 mattress volumes +11%.
To view the company’s previous earnings and latest concall transcripts, click here to visit the Alphastreet India news channel.