Sheela Foam floats after strong Q4 outcome

Sheela Foam gained 2.21% to Rs 1,320 at 10:12 IST on BSE after consolidated net profit jumped 92.69% to Rs 32.16 crore on 14.43% rise in total income to Rs 534.56 crore in Q4 March 2018 over Q4 March 2017.

The announcement was made after market hours on Friday, 18 May 2018.

Meanwhile, the S&P BSE Sensex was up 10.01 points or 0.03% at 34,858.31.

On the BSE, 539 shares were traded in the counter so far compared with average daily volumes of 23,000 shares in the past two weeks. The stock had hit a high of Rs 1,398.25 and a low of Rs 1,300.05 so far during the day. The stock hit a record high of Rs 1,850 on 29 November 2017. The stock hit a 52-week low of Rs 1,192 on 12 July 2017.

Sheela Foam's consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) surged 108% to Rs 52 crore in Q4 March 2018 over Q4 March 2017. EBITDA margin stood at 9.9% in Q4 March 2018.

Sheela Foam is engaged in manufacturing of home comfort products and technical foam products. The company is one of the leading manufacturers of mattresses in India, marketed under its flagship brand, Sleepwell. In addition, it manufactures other foam-based home comfort products targeted primarily at Indian retail consumers, as well as technical grades of polyurethane (PU) foam for end use in a wide range of industries.

Powered by Capital Market - Live News