Skip to main content
Sister Publication Links
  • Middle East Foam & Polyurethane
  • UTECH Asia/PU China
  • UTECH Europe
  • UTECH Las Americas
Subscribe
  • My Account
  • Login
  • Subscribe
  • Ukraine
  • News
    • Asia
    • Americas
    • Europe
    • M & A
    • Financial results
    • Automotive
  • Data
  • Information
    • Country Overview
    • Market Sector overviews
    • Technical articles
    • Company profiles and strategies
  • Events
    • Exhibitions
    • Conferences
    • Webinars / Livestreams
    • Become a Speaker
  • Advertise
  • Contact Us
  • Issues
  • Subscribe
MENU
Breadcrumb
  1. Home
  2. News
May 15, 2017 12:00 AM

Sheela Foam grows profits in 2017 despite headwinds

Simon Robinson
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    New Delhi, India — Sheela Foam  saw a 14 % increase in sales between 2016 and 2017 despite the impacts of demonetisation in 2016 and a sharp spike in the price of isocyanates in the last quarter of the financial year.

    Sheela: flying the flag

    The firm had sales of INR 3.98 bn ($ 62 m) in the fourth quarter of its 2017 financial year, which ended on 31 March 2017, and were down slightly from the INR 4.09 bn recorded in the third quarter, which ended on 31 December 2016.

    The company made an operating profit of INR 123m in the fourth quarter compared with INR 289m in the equivalent 2016 quarter. This, was due to "abnormally high raw material prices," the company said in its discussion of results. The price of TDI in India, grew from INR 11o/kg in the fourth quarter of 2016 to InR 275 in the first quarter of 2017.

    The company added that "post demonetisation, the focus of the company was on market share and growth. Hence, despite substantial increases in raw material costs, the company did not increase the price of its products. This strategy helped it regain its growth momentum."

    Looking at complete financial years, in 2016, Sheela had sales of  INR 12.65 bn, in 2017 this rose by 14% to INR 14.45 bn, a filing with the Bombay Stock Exchange shows. During the same time, the company's operating profit increased by 16.9% from INR 1.17 bn in 2016 to INR 1.38 bn in 2017.

    Sheela Foam is India's largest flexible polyurethane foam maker. It is integrated into bedding manufacture and owns Joyce Foam of Australia and New Zealand.

    Currency conversion: XE.com 15 May 2017.

    Recommended for You
    Joerg Palmersheim at Polyurethanes Technical Conference
    Isopa: Reach regulations could extend to all isocyanates
    Stepan gains its first ISCC Plus certification
    Stepan gains its first ISCC Plus certification
    Foamer Eagle Industries issues Warn notice of potential layoffs
    Foamer Eagle Industries issues Warn notice of potential layoffs
    Latest Issue
    urethanes technology
    Get the latest edition here
    View All Archives
    Get our newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Register to access our archive of leading information on the polyurethanes industry.

    Subscribe now
    Connect with Us
    • Twitter
    • LinkedIn
    • Facebook
    • Youtube

    Follow us on social media for the latest polyurethanes industry news and event updates.

    Logo
    Contact Us

    Crain Communications
    11, Ironmonger Lane
    London
    EC2V 8EY
    United Kingdom

    Editorial
    Phone +44 (0) 20 3287 5935
    Email click to send

    Customer Service
    Phone +1 313 446 0450
    Email click to send

    Resources
    • Advertise with Us
    • Media Kit
    • Staff
    • Careers
    • Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • Ukraine
    • News
      • Asia
      • Americas
      • Europe
      • M & A
      • Financial results
      • Automotive
    • Data
    • Information
      • Country Overview
      • Market Sector overviews
      • Technical articles
      • Company profiles and strategies
    • Events
      • Exhibitions
      • Conferences
      • Webinars / Livestreams
      • Become a Speaker
    • Advertise
    • Contact Us
    • Issues
    • Subscribe