Noida, India — Sheela Foam, India's only publicly traded flexible foam producer, generated operating income of INR 4.97 bn ($69.5 m) in the second quarter of 2019. This is lower by 7% than the same period in 2018.
EBITDA across the business rose 67% and hit INR 700m Q2 of 2019.
The company owns two overseas subsidiaries: Joyce Foam in Australia and Interplasp of Spain. Interplasp is owned through Sheela's subsidiary International Foam Technologies Spain. The deal closed in October, and Interplasp's numbers are not included in the second quarter figures.
But, the company's Joyce foam figures are available. The generated sales which rose by 1% between Q2 of 2018 and 2019. They were INR 870.0m in Q2 of 2019. This compares with INR 860.0m Q2 2018.
At the same time, EBITDA in the division increased by 71%. It hit INR 120.0m in Q2 of 2019. This compares with INR 70m the 2018 period.
Over the first half of the year, Sheela's operating income was INR 10.1 bn down by 2% from INR 10.4bn in the first half of 2018. Pre-tax profit at the company rose significantly from INR 813m in the first half of 2018 to INR 1.3bn in the first half of 2019.
Currency Conversion: XE.com
| Sheela Foam Q2 2019 (INR m) | |||
|---|---|---|---|
| Q2 2019 | Q2 2018 | Change % | |
| Sales | 4970 | 5350 | -7.1% |
| EBITDA | 700 | 420 | 66.7% |
| Margin % | 14% | 8% | |
| Joyce Foam (Australia) | |||
| Sales | 870.0 | 860.0 | 1.2% |
| EBITDA | 120 | 70.0 | 71.4% |
| Margin % | 13.8% | 8.1% | |
| Source: Sheela Foam | |||
