Transcript of Investor Call of May 15, 2026
SFL · price
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Sheela Foam reported its highest-ever annual revenue and EBITDA in FY '26. Consolidated revenue grew 11% to INR3,821 crores, with core EBITDA of INR414 crores (margin of 10.8%, up 261 bps). PAT stood at INR161 crores, up 78%. India standalone grew 11% with Q4 growth at 24%. Key highlights include strong U2O segment (volume growth 65%, value growth 111%), e-commerce surge (brand.com up 136%), and 600 new showrooms added. Australia posted INR422 crores revenue with 10% EBITDA margins (up 400 bps), and Spain INR391 crores with 10.4% margins. The company declared its first-ever dividend of 20%, and reduced net debt by INR156 crores. Management guided for 15%+ growth and expects to sustain margins in the 11-12% bracket. Furlenco is tracking toward INR500 crores revenue in FY '27 and may consider an IPO in the next 3-4 months.
Strong execution with margin expansion, first dividend, and debt reduction signal improving fundamentals. The stock could see positive re-rating as Kurlon synergies materialise and margins hold in the 11-12% range, with near-term tailwinds from raw material price softening.