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Sheela Foam Board Defers Interim Dividend Decision; No Dividend Declared
Sheela Foam Limited's Board of Directors met on March 02, 2026, to consider the declaration of an interim dividend. Following a lengthy meeting that lasted over nine hours, the board decided to deliberate further on the matter in due course. As a result, no interim dividend was declared during this specific board meeting. This deferral suggests that the company is still evaluating its cash allocation or financial position before committing to a payout.
Key Highlights
Board meeting held on March 02, 2026, specifically to consider an interim dividend.
The Board decided to postpone the decision and deliberate further in due course.
No interim dividend has been declared as of the conclusion of the meeting at 07:00 PM.
The meeting duration of approximately 9 hours and 15 minutes indicates extensive board discussion.
💼 Action for Investors
Investors should maintain a neutral stance and wait for subsequent board meeting updates regarding the deferred dividend. Monitor upcoming quarterly results to see if cash flow constraints or capital expenditure plans influenced this delay.
Sheela Foam Q3 FY26: Consolidated PAT Jumps 3x to ₹53 Cr; Core EBITDA Margin at 10.9%
Sheela Foam reported a robust Q3 FY26 with consolidated revenue for the nine-month period rising 7% YoY to ₹2,771 crores. The company achieved a significant turnaround in its Kurlon acquisition, with consolidated core EBITDA margins expanding 220 bps to 10.9% in Q3. Net profit for the quarter witnessed a 3x jump to ₹53 crores, supported by strong volume growth in mattresses (11%) and foam (20%). International operations in Australia and Spain also turned around, posting 12% EBITDA margins.
Key Highlights
Consolidated PAT for Q3 FY26 increased 3x YoY to ₹53 crores.
Mattress volumes grew 11% and Foam volumes grew 20% YoY during the quarter.
E-commerce revenue surged 53% YoY to ₹180 crores for the nine-month period.
Kurlon integration is complete, with combined India margins sustained above 10%.
Furlenco achieved an annualized revenue run rate of ₹400 crores and ₹18 crores PAT for 9M.
💼 Action for Investors
The successful Kurlon integration and international turnaround make SFL a strong recovery play in the home comfort space. Investors should maintain a positive outlook as the company scales its high-growth U2O and E-commerce segments.
Sheela Foam Q3 FY26: Core EBITDA Jumps 39% YoY to ₹117 Cr; Revenue Up 11%
Sheela Foam reported a robust performance for Q3 FY26, with consolidated revenue growing 11% YoY to ₹1,074 crore. The company's Core EBITDA saw a significant jump of 39% YoY to ₹117 crore, driven by margin expansion from 8.7% to 10.9%. Volume growth was strong across segments, with mattresses up 11% and foam up 20% YoY. While 9M PAT remains slightly lower YoY at ₹69 crore due to higher finance costs, the quarterly recovery indicates strong operational momentum and successful integration of Kurlon.
Key Highlights
Consolidated Revenue for Q3 FY26 grew 11% YoY to ₹1,074 crore.
Core EBITDA increased by 39% YoY to ₹117 crore with margins improving to 10.9%.
Mattress segment recorded 11% volume growth, while Foam segment saw 20% volume growth YoY.
E-commerce sales on Brand.com witnessed a massive 138% YoY growth.
International operations showed stability with Spain (Interplasp) achieving 11.9% EBITDA margin in Q3.
💼 Action for Investors
The strong recovery in margins and volume growth across segments suggests the Kurlon integration is yielding results. Investors should monitor the sustainability of these margins and the reduction in finance costs in upcoming quarters.
Sheela Foam Q3 FY26 PAT Surges 213% YoY to ₹53 Cr; Core EBITDA Up 39%
Sheela Foam Limited (SFL) reported a robust Q3 FY26 performance with consolidated revenue growing 11% YoY to ₹1,074 crore, driven by strong volume growth in both mattress (11%) and foam (20%) segments. Core EBITDA for the quarter jumped 39% YoY to ₹117 crore, with margins expanding significantly by 220 bps to 10.9%. While 9M FY26 PAT was down 10% at ₹69 crore due to a high base effect from a one-time insurance claim last year, the Q3 PAT saw a massive 213% increase to ₹53 crore. The company attributed this turnaround to the successful integration of the Kurlon acquisition and improved performance across India, Australia, and Spain.
Key Highlights
Q3 FY26 Revenue increased 11% YoY to ₹1,074 crore from ₹967 crore.
Core EBITDA grew 39% YoY to ₹117 crore with margin expansion of 220 bps to 10.9%.
Quarterly PAT surged 213% YoY to ₹53 crore compared to ₹17 crore in the previous year.
Mattress segment recorded 11% volume growth, while Foam volumes grew by 20% in Q3.
E-commerce volumes for 9M FY26 grew by 138% on the company's own website and 39% on third-party platforms.
💼 Action for Investors
Investors should note the significant margin expansion and the positive impact of the Kurlon acquisition on the company's bottom line. The strong double-digit volume growth across segments suggests a healthy recovery, making it a positive development for long-term holders.
Sheela Foam Q3 Standalone PAT Surges 124% YoY to ₹38.7 Cr; Allots Shares for Kurlon Merger
Sheela Foam Limited (SFL) reported a strong standalone performance for the quarter ended December 31, 2025, with revenue growing 7.8% YoY to ₹841.64 crore. Net profit (PAT) witnessed a significant jump of 124% YoY to ₹38.70 crore, driven by improved operating margins and a 51.6% reduction in finance costs. The company also progressed on its inorganic growth strategy by allotting 4.88 lakh equity shares to Kurlon Enterprise shareholders as part of its merger scheme. Debt levels have improved, with the debt-equity ratio falling to 0.21 from 0.39 a year ago.
Key Highlights
Standalone Revenue from operations increased 7.8% YoY to ₹841.64 crore from ₹780.69 crore.
Net Profit (PAT) surged 124% YoY to ₹38.70 crore compared to ₹17.26 crore in Q3 FY25.
Finance costs dropped significantly to ₹11.29 crore from ₹23.32 crore in the year-ago quarter.
Allotted 4,88,146 equity shares to Kurlon Enterprise Limited shareholders following NCLT approval.
Debt-Equity ratio improved to 0.21, while outstanding NCDs reduced to ₹362.50 crore from ₹725 crore YoY.
💼 Action for Investors
Investors should view the sharp recovery in profitability and the reduction in debt as highly positive; the focus now shifts to the realization of synergies from the Kurlon acquisition in consolidated results.
Sheela Foam Shareholders Approve Redesignation of Rahul and Tushaar Gautam to Top Leadership Roles
Sheela Foam Limited (SFL) has successfully passed two key management resolutions via postal ballot with overwhelming shareholder support. Mr. Rahul Gautam has been redesignated as Chairman and Managing Director, receiving 99.86% of the total votes cast. Additionally, Mr. Tushaar Gautam has been appointed as Vice Chairman and Joint Managing Director with 99.99% approval. These changes, effective January 29, 2026, signify a structured leadership hierarchy and continuity within the promoter-led organization.
Key Highlights
Special Resolution for Rahul Gautam as CMD passed with 94,895,611 votes in favor (99.86%)
Ordinary Resolution for Tushaar Gautam as Vice Chairman passed with 95,026,477 votes in favor (99.99%)
Promoter group participation was high at 96.95% of their total shareholding
Public institutional support for the CMD resolution was 99.48%, indicating strong confidence from professional investors
💼 Action for Investors
These redesignations ensure leadership stability and continuity within the company. Investors should maintain their current outlook on the stock as the core management team remains the same, albeit with updated titles.
Sheela Foam Sets Jan 30 Record Date for Kurlon Merger; Swap Ratio 52:100
Sheela Foam Limited has announced that its Composite Scheme of Arrangement, involving the merger of Kurlon Enterprise Limited and several other entities into SFL, is now effective following the filing of the NCLT order with the ROC on January 15, 2026. The company has fixed January 30, 2026, as the record date to determine eligible shareholders for the merger. Under the approved swap ratio, Kurlon Enterprise shareholders will receive 52 equity shares of Sheela Foam for every 100 shares held. This consolidation is expected to significantly strengthen Sheela Foam's market position in the Indian mattress industry.
Key Highlights
NCLT Mumbai Bench approved the merger of Kurlon Enterprise and five other entities into Sheela Foam Limited.
Certified copy of the NCLT order filed with the Registrar of Companies (ROC) on January 15, 2026.
Record date for determining shareholder eligibility for allotment is fixed as Friday, January 30, 2026.
Share exchange ratio set at 52 equity shares of Sheela Foam for every 100 equity shares of Kurlon Enterprise Limited.
The scheme involves the consolidation of Belvedore International, Kanvas Concepts, Kurlon Retail, and others.
💼 Action for Investors
Investors should view this as a major milestone in Sheela Foam's expansion strategy, likely leading to operational synergies and market share gains. Existing shareholders of Kurlon Enterprise should ensure their holdings are reflected by the January 30 record date to receive SFL shares.