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    Sheela Foam scales new 52-week high post Q3 results

    Synopsis

    Total income of the company also jumped 15.19 per cent to Rs 665.15 crore during the quarter under review.

    shutterstock_222583357Shutterstock.com
    The average per kg price of key raw material Toluene Diisocyanate (TDI), a chemical used for foam manufacturing, decreased sharply to Rs 129 in Q3FY20 from Rs 255 in Q3FY19.
    NEW DELHI: Shares of Sheela Foam scaled new 52-week in Tuesday’s trade after the company on Monday posted 65 per cent year-on-year rise in consolidated profit at Rs 64.28 crore for the quarter ended December 31.

    The scrip advanced as much as 11.56 per cent to an intraday high of Rs 1,770.

    Total income of the company also jumped 15.19 per cent to Rs 665.15 crore during the quarter under review. Ebitda for Q3FY20 increased to Rs 94 crore from Rs 61 crore in the corresponding quarter last year.

    The average per kg price of key raw material Toluene Diisocyanate (TDI), a chemical used for foam manufacturing, decreased sharply to Rs 129 in Q3FY20 from Rs 255 in Q3FY19. The figure stood at RS 133 in Q2FY20.

    On a standalone basis, revenue from operations from India business increased 6.40 per cent to Rs 518 crore in Q3FY20. The topline from Australia also jumped 9.80 per cent YoY to Rs 90 crore. This was also the first quarter for which results of Spain were consolidated. The revenue from operations from Spain stood at Rs 50 crore.

    On a year-to-date basis, the share price of Sheela Foam has already spiked more than 25 per cent till February 10, while the benchmark BSE Sensex inched lower by 0.66 per cent during the same period.

    The BSE Midcap and Smallcap index gained 5.43 per cent and 7.89 per cent, respectively YTD.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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