Mumbai India — Sheela Foam India's largest flexible foam maker, had total consolidated sales of INR 5.3bn ($77 m) in first quarter of 2019. This is up a total of 1.3 % on the equivalent period last year.
EBITDA across the business rose 7.7 % and reached INR 560m in the first quarter of 2019.
Revenue from Joyce Foam operations in Australia was INR 840m up significantly on INR 790m recorded in the first quarter of 2018. EBITDA at Joyce foam increased by 50% from INR 60m in the first quarter of 12018 to INR 90m in the first quarter of 2019.
The company said that the cost of materials consumed fell by INR 418m or 16% between the first quarter of 2018 and the first quarter of 2019.
Sheela expects that the fall in price of TDI during the first quarter of 2019 will be fully realised in the first quarter of 2020.
The company also said it had launched an eCommerce brand for sale via Amazon and Flipkart.
|Sheela Foam numbers Q1 2019 ( INR m)|
|Group||Q1 2019||Q1 2018||Change %|
|Source: Sheela Foam|