Buy Sheela Foam, target price Rs 1150: ICICI Securities

ICICI Securities has buy call on Sheela Foam with a target price of Rs 1150. The current market price of Sheela Foam Ltd. is Rs 953.95.

Sheela Foam Ltd., incorporated in the year 1971, is a Mid Cap company (having a market cap of Rs 10191.46 Crore) operating in Consumer Durables sector.

Sheela Foam Ltd. key Products/Revenue Segments include PU Foam Sheets/Mattresses/Rolls/Bolster/Pillows etc., Sale of services, Scrap, Other Operating Revenue for the year ending 31-Mar-2023.



Financials
For the quarter ended 31-12-2023, the company reported a Consolidated Total Income of Rs 910.72 Crore, up 42.84 % from last quarter Total Income of Rs 637.58 Crore and up 7.76 % from last year same quarter Total Income of Rs 845.14 Crore. Company reported net profit after tax of Rs 38.44 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 65.48 per cent stake in the company as of 31-Dec-2023, while FIIs owned 6.12 per cent, DIIs 24.99 per cent.