Sheela Foam · forward-looking guidance across the available source record.
Guidance tracker
Management targets 15% revenue growth for India business over the medium term, with the journey currently underway and visibility improving. The target applies to the India business including Kurlon, technical foams, and intermediate grades.
Management expects margins to reach 14-15% EBITDA by FY28, with somewhere between current margins and 15% in FY27. The journey to 15% margins is ongoing with continuous improvement through synergies.
The remaining synergy target of ₹30-40 crore from Kurlon acquisition (towards total ₹250 crore) is on track. A new machine for material production is arriving and will be installed by mid-quarter, with full impact in Q1 FY27.
Australia and Spain operations are expected to sustain approximately 12% EBIT margins going forward, up from 10% for 9 months, driven by cost discipline and operational efficiencies.
Management expects revenue growth to exceed 15% in FY27, aided by higher raw material prices and volume growth.
Capex includes maintenance, debottlenecking, and new store openings, with ₹125-150 crore planned for FY27.
Furleno is expected to achieve revenue of ~₹500 crore in FY27, up from ₹370 crore in FY26.
India debt of ~₹300 crore is expected to be repaid from cash flows within 1-1.5 years.