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Revenue
₹1,050 Cr
verified against source
Revenue YoY
24%
reported change
EBITDA
₹121 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Sheela Foam reported a strong Q4 FY26 with consolidated revenue of ₹1,050 crore (+24% YoY) and EBITDA of ₹121 crore (+90% YoY), driven by broad-based growth across mattress, foam, and U2O segments. EBITDA margin expanded 400 bps to 11.5% aided by operating leverage and cost discipline. PAT surged 7x to ₹92 crore. The Kurlon integration is yielding results, with mattress volumes up 13% and U2O value growth of 111%. Management guided for continued 15%+ revenue growth in FY27, with capex of ₹125-150 crore. Key risks include raw material price volatility (TDI/polyol) and Middle East supply chain disruptions.
Colored figures show movement against the previous available record.
Guidance to track
- 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.
Risks flagged
- TDI and polyol prices have been highly volatile due to Middle East tensions and supply disruptions, impacting margins if not passed through.
- Evolving situation in the Middle East could affect raw material availability, though the company has managed without material disruption so far.
- Analyst raised concern that Q1/Q2 margins could be under pressure due to higher-cost inventory; management argued pass-through is timely.
- Analyst questioned whether strong Q4 foam growth was due to one-off orders or channel stocking; management denied material stocking.
Key quotes
- FI26 has been a year of implementation of the benefits of the Kuron acquisition and its integration with Chilafoam.
- Our core IITra margins for Q4 climbed to 11.5%. For full year of last fiscal, the core riveta margin stood at 10.7%. This indicates that we are already in a 11 to 12% bracket and should move further onwards with growth.
- We are open to that and I think our position remains the same that we are open to that but that doesn't mean that we are switched off from it we will pursue that and wait for right person to come at the right time.
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