Latest news with #SheelaFoam
Business Standard
15-05-2025
- Business
- Business Standard
Sheela Foam consolidated net profit declines 66.74% in the March 2025 quarter
Sales rise 0.53% to Rs 849.60 crore Net profit of Sheela Foam declined 66.74% to Rs 21.49 crore in the quarter ended March 2025 as against Rs 64.62 crore during the previous quarter ended March 2024. Sales rose 0.53% to Rs 849.60 crore in the quarter ended March 2025 as against Rs 845.15 crore during the previous quarter ended March 2024. For the full year,net profit declined 47.33% to Rs 96.09 crore in the year ended March 2025 as against Rs 182.44 crore during the previous year ended March 2024. Sales rose 15.32% to Rs 3439.19 crore in the year ended March 2025 as against Rs 2982.31 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 849.60845.15 1 3439.192982.31 15 OPM % 3.889.53 - 7.2710.08 - PBDT 58.8490.23 -35 260.30349.02 -25 PBT 8.9648.89 -82 77.69233.23 -67 NP 21.4964.62 -67 96.09182.44 -47
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Business Standard
29-04-2025
- Business
- Business Standard
Duroflex to push ahead with IPO, eyes double-digit revenue growth
Indian mattress maker Duroflex is looking to go public in the next 18 months and is charting out plans to hit double-digit revenue growth in the next few years, its top boss told Reuters. The company, which competes with Sleepwell-owner Sheela Foam and Wakefit in the more than $2 billion mattress market, however, did not disclose how much it plans to raise or whether the listing would be a fresh issue or an offer for sale. "Markets are what the markets are. That's not something within our control ... Boringly consistent performance is generally what does the trick with the markets," Duroflex CEO Sridhar Balakrishnan said. Duroflex, founded about six decades ago in the south Indian state of Kerala, receives 85 per cent of its revenue from mattresses. It plans to double the contribution from other categories, including recliners and sofas, over five years. Global mattress sales have slowed since the height of the Covid-19 pandemic, when people splurged to upgrade their bedrooms, but analysts expect the focus on wellness to drive steady growth in the sector. For Duroflex, which owns the Sleepyhead brand, revenue would grow in the double-digit percentage range over the next three years, with profits rising faster, Balakrishnan said. The company posted sales of ₹1,001 crore ($117.53 million) and core earnings of ₹43,900 crore in fiscal 2024, data from business insights provider Tofler showed. In the latest financial year, Duroflex's revenue climbed in single-digit percentage range, Balakrishnan said, with core earnings jumping more than 50 per cent. The company also plans to open 20 to 25 stores to reach 100 locations by the year-end.
Reuters
29-04-2025
- Business
- Reuters
Indian mattress maker Duroflex to push ahead with IPO, eyes double-digit revenue growth
April 29 (Reuters) - Indian mattress maker Duroflex is looking to go public in the next 18 months and is charting out plans to hit double-digit revenue growth in the next few years, its top boss told Reuters. The company, which competes with Sleepwell-owner Sheela Foam ( opens new tab and Wakefit in the more than $2 billion mattress market, however, did not disclose how much it plans to raise or whether the listing would be a fresh issue or an offer for sale. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. "Markets are what the markets are. That's not something within our control ... Boringly consistent performance is generally what does the trick with the markets," Duroflex CEO Sridhar Balakrishnan said. Duroflex, founded about six decades ago in the south Indian state of Kerala, receives 85% of its revenue from mattresses. It plans to double the contribution from other categories, including recliners and sofas, over five years. Global mattress sales have slowed since the height of the COVID-19 pandemic, when people splurged to upgrade their bedrooms, but analysts expect the focus on wellness to drive steady growth in the sector. For Duroflex, which owns the Sleepyhead brand, revenue would grow in the double-digit percentage range over the next three years, with profits rising faster, Balakrishnan said. The company posted sales of 10.01 billion rupees ($117.53 million) and core earnings of 439 million rupees in fiscal 2024, data from business insights provider Tofler showed. In the latest financial year, Duroflex's revenue climbed in single-digit percentage range, Balakrishnan said, with core earnings jumping more than 50%. The company also plans to open 20 to 25 stores to reach 100 locations by the year-end. ($1 = 85.1700 Indian rupees)
