Sheela Foam
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Sheela Foam (SFL) investor relations material

Sheela Foam Q3 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 25/26 earnings summary4 Feb, 2026

Executive summary

  • Completed Kurl-on merger and integration, driving operational turnaround and synergies, with consolidated revenue up 7% YoY to INR 2,771 crore for 9M FY26 and core EBITDA margin at 10.6% for 9 months and 10.9% in Q3.

  • Mattress volumes grew 11% YoY for 9 months, foam volumes up 12%, and e-commerce business grew 53% YoY with net revenues of INR 180 crore for 9 months.

  • International businesses in Australia and Spain delivered improved EBITDA margins (~12% in Q3, ~10% for 9 months), with profitability rebounding.

  • Board approved unaudited financial results for Q3 and 9M FY26, including the allotment of 488,146 equity shares to Kurlon Enterprise Limited shareholders.

  • PAT for 9M FY26 stood at INR 69 crore, with cash EPS of INR 19.06 and diluted EPS of 6.25.

Financial highlights

  • Consolidated revenue for Q3 FY26 was INR 1,074.43 crore, up from INR 874.94 crore in Q3 FY25; standalone revenue for Q3 FY26 was INR 841.64 crore.

  • Core consolidated EBITDA margin at 10.9% for Q3, up 220 bps YoY; Q3 EBITDA grew from INR 84 crore to INR 117 crore.

  • Q3 PAT at INR 53 crore, tripling YoY; nine-month PAT at INR 69 crore.

  • Standalone net profit for Q3 FY26 was INR 38.70 crore, up from INR 17.26 crore in Q3 FY25.

  • Basic EPS for Q3 FY26 was INR 3.54 standalone and INR 4.77 consolidated.

Outlook and guidance

  • Targeting 15% revenue growth and 15% EBITDA margin for India business over the medium term, with margin improvement to 14-15% by FY 2028.

  • Targeting ~700 new showrooms in FY26, with 607 already launched in 9M FY26.

  • Price increases of 4-5% implemented in Q3, with full impact expected in Q4.

  • International EBITDA margins expected to sustain at ~12%.

  • Management is evaluating the impact of new Indian labour codes, but expects no material effect.

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Q4 25/2614 May, 2026
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