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Sheela Foam Ltd.

BSE: 540203 Sector: Industrials
NSE: SFL ISIN Code: INE916U01025
BSE 00:00 | 22 Aug 1135.55 -22.20
(-1.92%)
OPEN

1140.00

HIGH

1150.00

LOW

1124.10

NSE 00:00 | 22 Aug 1143.70 -8.75
(-0.76%)
OPEN

1153.00

HIGH

1153.00

LOW

1121.05

OPEN 1140.00
PREVIOUS CLOSE 1157.75
VOLUME 158
52-Week high 1817.95
52-Week low 1084.00
P/E 44.37
Mkt Cap.(Rs cr) 5,539
Buy Price 1116.00
Buy Qty 1.00
Sell Price 1157.00
Sell Qty 50.00
OPEN 1140.00
CLOSE 1157.75
VOLUME 158
52-Week high 1817.95
52-Week low 1084.00
P/E 44.37
Mkt Cap.(Rs cr) 5,539
Buy Price 1116.00
Buy Qty 1.00
Sell Price 1157.00
Sell Qty 50.00

Sheela Foam Ltd. (SFL) - Company History

Sheela Foam is a leading manufacturer of mattresses in India marketed under its flagship brand 'Sleepwell'. Its share in the organised Mattress Market is more than 23%. In addition it manufactures other foam-based home comfort products targeted primarily at Indian retail consumers as well as technical grades of polyurethane foam ('PU Foam') for end use in a wide range of industries. The foam production continues to be more than double of its nearest competitor. As part of its international footprint the company manufactures PU Foam in Australia through its wholly owned subsidiary Joyce Foam Pty Ltd. Joyce Foam is the largest producer of Foam in Australia and supplies its high quality Foam to Global Mattresses and Furnishing Companies.The company was incorporated in 1971 and over the last two decades has developed Sleepwell as an overarching brand associated with comprehensive and quality home-comfort solutions. The company believes that the recall of its brand has been established by an extensive suite of products that range from baseline bedding and furniture cushioning material to ergonomically tailored offerings an emphasis on quality control and focused brand building. In respect of its technical foam manufacture business the company believes that 'Sheela Foam' is a recognised name associated with diverse and sophisticated grades of technical foam. The company has developed a pan-India distribution network that consists of over 110 exclusive distributors over 2750 exclusive retail dealers and over 3500 multi-brand outlets.Sheela Foam currently owns and operates 11 manufacturing facilities in India. All of its facilities are utilized for manufacturing home comfort products while five of these facilities also manufacture PU Foam. Three of its facilities located in Greater Noida Talwada and Hyderabad are ISO:9001 certified. The company is led by Ms. Sheela Gautam and Mr. Rahul Gautam who have been instrumental in the growth of its business from a small foam producing unit to the position of a leading manufacturer of mattresses and technical PU Foam in India. The company's market position has been achieved by adherence to the vision of its Promoters and senior management team and their experience of over four decades in the home comfort and PU Foam industry.Sheela Foam Ltd was originally incorporated as a private limited company on June 18 1971 at Delhi with the name `Sheela Foam Private Limited'. Sheela Foam commenced manufacture of PU Foam in 1972. The company became a deemed public limited company on July 1 1989 and was restored to its status of private limited company with effect from November 30 1990. The company was converted to a public limited company pursuant to a special resolution on April 30 2016 and the name of the company was changed to `Sheela Foam Limited' on June 6 2016. In order to reorganise its group structure to subsume similar and complementary business lines of its subsidiaries and associates within its business the company has on three instances effected mergers of certain of its subsidiaries and associates with itself through schemes of amalgamation. In Fiscal Year 2003 three of its erstwhile wholly owned subsidiaries namely Feather Foam Enterprises Private Limited Soft Foam Industries Private Limited and Pallavi Foam Industries Private Limited which were involved in similar lines of business of the company merged with itself. Subsequently in Fiscal Year 2011 Serta India Private Limited a subsidiary company were merged with the company. Furthermore in Fiscal Year 2013 five of its erstwhile subsidiaries namely SNB Bedding International Private Limited Starlite India Private Limited RG Pillow (India) Private Limited Kanpav Overseas Private Limited and Auora Foams Private Limited merged with the company. Sheela Foam's promoter Polyflex Marketing Pvt Ltd. offloaded shares worth Rs 510 crore by way of an initial public offer (IPO) during the period from 29 November 2016 to 1 December 2016. The IPO was priced at Rs 730 per share. The stock was listed on the bourses on 9 December 2016. The company introduced economy model mattress Starlite and Mid Level Mattress Feather Foam in July 2017 and February 2018 respectively. Post successful test marketing of the model in North India these models are being launched pan India. On the furniture side of the business the company has tied up with carpenters & upholsters under Anmol Bandhan Scheme. This will help in selling Sleepwell and Feather Foam Furniture Foam.