Q1FY21 results: Sheela Foam net profit plunges 70 per cent YoY to Rs 11.8 crore

Sheela Foam Limited, a leading manufacturer of mattresses in India marketed under its flagship brand 'Sleepwell', announced its quarterly results on August 20, 2020. The company posted a consolidated net profit of Rs 11.8 crore for Q1FY21, which declined by 69.52 per cent YoY, as compared to Q1FY20 when it reported Rs 38.72 crore.                                                                                                                                                

The consolidated net sales reported in Q1FY21 came in at Rs 268.97 crore, which declined by 47.7 per cent YoY from Rs 514.24 crore in Q1FY20. At EBITDA level, the company stood at Rs 27.84 crore in Q1FY21 that decreased by 55.23 per cent YoY. For Q1FY20, it posted an EBITDA of Rs 62.19 crore.                                                                                                                                                 

EBITDA margin as of Q1FY21 was at 10.35 per cent that declined by 1.74 per cent YoY. The net profit margin in Q1FY21 came in at 4.39 per cent, which declined by 3.14 per cent YoY. The net profit margin in Q1FY20 was at 7.53 per cent.    

Domestic standalone revenue from operations in June quarter stood at Rs 127 crore which declined 71 per cent YoY compared to Rs. 436 crore of Q1FY20. However, revenue from operations on standalone basis from Australia grew by 4 per cent YoY to Rs 82 crore from Rs 79 crore of Q1FY20.                                                                                                                       

The share closed 4.71 per cent higher at Rs 1,435 in today’s session on BSE.