Sheela Foam the maker of ‘Sleepwell’ mattresses provided little comfort to its investors as the company fared miserably during the fiscal first quarter to June 30, suffering from poor demand.
Sheela Foam reported 69.52% decline in Q1FY21 consolidated net profit at Rs 11.8 crore, as compared to Q1FY20, when it had reported Rs 38.72 crore.
Consolidated net revenue in Q1FY21 stood at Rs 268.97 crore, down 47.7% from Rs 514.24 crore in Q1FY20.
EBITDA decreased by 55.23% to Rs 27.84 crore in Q1FY21. For Q1FY20, it had posted EBITDA of Rs 62.19 crore. EBITDA margin as of Q1FY21 was at 10.35%, showing a decline of 174 bps against the same quarter, the previous year.
The net profit margin in Q1FY21 came in at 4.39% as compared to 7.53% reported in the corresponding period.
The profit attributable to equity shareholders in Q1FY21 is Rs 11.33 crore as against Rs 38.72 crore for the same quarter, previous year.
Sheela Foam key Products/Revenue Segments include PU Foam Sheets/Mattresses/Rolls/Bolster/Pillows etc.
Promoters hold 74.99% stake of the company.
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