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Sheela Foam Consolidated September 2023 Net Sales at Rs 613.19 crore, down 15.09% Y-o-Y

Sheela Foam reported a consolidated profit of Rs 44.3 crore, down 17.3 percent from the year-ago period. Revenue declined 10.2 percent to Rs 613.2 crore

Sheela Foam trades lower on dismal Q2 numbers

 Sheela Foam has completed the acquisition of 35% stake in Furlenco on a fully diluted basis for an aggregate consideration of Rs 300 crore. 

Sheela Foam completed acquisition of 35% stake in Furlenco 

Sheela Foam Consolidated June 2023 Net Sales at Rs 645.09 crore, down 11.53% Y-o-Y

Sheela Foam Standalone June 2023 Net Sales at Rs 447.83 crore, down 12.94% Y-o-Y

ICICI Securities is bullish on Sheela Foam recommended buy rating on the stock with a target price of Rs 1400 in its research report dated July 18, 2023.

Buy Sheela Foam; target of Rs 1400: ICICI Securities

The Street believes the deal with Kurlon is financially attractive while the acquisition of Furlenco will allow Sheela Foam to enter the branded furniture market and facilitate cross-selling between the two companies.

Sheela Foam soars 15% as Street cheers Kurlon buyout, Furlenco acquisition

The Board of Sheela Foam at its meeting held on 17 July 2023 has approved the acquisition of Kurlon Enterprise (KEL) and House of Kieraya (Furlenco).The companys acquisition of 94.66% stake in KEL at an equity valuation of Rs 2150 crore is expected to be completed by or before 30 November 2023. The companys acquisition of 35% stake in Furlenco for a consideration of Rs 300 crore is expected to be completed by 31 August 2023. 

Board of Sheela Foam to acquire stake in Kurlon and Furlenco

The company is acquiring 94.66 percent of Kurlon Enterprises' stake at an equity valuation of Rs 2,150 crore, and 35 percent stake in Furlenco for Rs 300 crore.

Sheela Foam confirms acquisition of rival Kurlon, to buy 35% in furniture maker Furlenco

Sheela Foam Ltd will fully acquire rival Kurlon Enterprise for a cash consideration of Rs 3,250 crore, according to a person familiar with the deal.

Sheela Foam surges 7% on Kurlon acquisition buzz

Sheela Foam Ltd. engages in the manufacture and sale of polystyrene foam products. Its products include mattresses, furniture-cushioning material, pillows, cushions, sofa-cum-beds and comfort accessory products under the Sleepwell brand. It also offers technical products and Joyce foam. The company was founded by Sheela Gautama on June 18, 1971 and is headquartered in Noida, India.

Watchers	39
52-Wk Low	906.60
52-Wk High	1,400.00

Market Cap	124.79B
Volume (M)	62,869.00
52-Wk High	1,400.00
52-Wk Low	906.60

SFL.NSE Sheela Foam Ltd

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