Buy Sheela Foam, target price Rs 3650: ICICI Direct

ICICI Direct has buy call on Sheela Foam with a target price of Rs 3650. The current market price of Sheela Foam Ltd. is Rs 2945.6. Time period given by analyst is one year when Sheela Foam Ltd. price can reach defined target.

Sheela Foam Ltd., incorporated in the year 1971, is a Mid Cap company (having a market cap of Rs 14294.09 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 and Job Work for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 747.54 Crore, down -4.09 % from last quarter Total Income of Rs 779.38 Crore and up 31.35 % from last year same quarter Total Income of Rs 569.11 Crore. Company reported net profit after tax of Rs 42.52 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 72.95 per cent stake in the company as of 30-Jun-2022, while FIIs owned 3.11 per cent, DIIs 22.84 per cent.