Sheela Foam Ltd

Sheela Foam Ltd announced that the second consecutive term for three Non-Executive Independent Directors, Mr. Som Mittal, Mr. Ravindra Dhariwal, and Mr. Anil Tandon, concluded on June 6, 2026. Consequently, they have ceased to hold their positions as Independent Directors and their memberships/chairmanships on various Board Committees, effective from the close of business hours on the same date. This cessation is due to the completion of their respective terms of office.

Sheela Foam Ltd. announced the completion of compensation to eligible shareholders for fractional shares resulting from the Composite Scheme of Arrangement. The compensation, totaling ₹3,07,348.00 after expenses of ₹3,23,837.90, was completed on May 08, 2026, and pertains to 575 fractional shares. This action complies with SEBI regulations and was certified by both the Audit Committee and Independent Directors.

Sheela Foam Ltd reported strong Q4 and FY26 results. FY26 PAT increased by 78% YoY to ₹161 cr. Consolidated revenues grew by 24% for Q4 and 11% for FY26. The board has recommended a 20% dividend. Mattress segment registered a YoY volume growth of 13% for Q4 FY26 and 12% for FY26. Foam volumes grew by 34% YoY in Q4 FY26 and 18% for FY26.

Sheela Foam Ltd's Board, based on the Nomination & Remuneration Committee's recommendation and subject to shareholder approval, has approved the appointment of Hiroo Mirchandani, Rajeev Srivastava, and Sudhir Shenoy as Independent Directors for five, five and three years respectively, effective June 06, 2026. Additionally, Rahul Gautam, Namita Gautam, Rakesh Chahar, and Tushaar Gautam have been re-appointed as Chairman & Managing Director, Whole-Time Director, Deputy Managing Director, and Vice Chairman & Joint Managing Director respectively, each for a five-year term starting April 01, 2027.

Sheela Foam Ltd has re-appointed M/s M S K A & Associates LLP, Chartered Accountants, as its Statutory Auditors for a second term of five consecutive years. The re-appointment, effective from the conclusion of the 54th Annual General Meeting until the conclusion of the 59th AGM in 2031, is subject to shareholder approval at the upcoming AGM. This decision was based on the recommendation of the Audit Committee and approved by the Board of Directors on May 14, 2026.

Sheela Foam Ltd's board approved the audited standalone and consolidated financial results for the quarter and year ending March 31, 2026. A final dividend of ₹1 per equity share (20% on face value of ₹5) for FY26 was recommended, payable within 30 days of shareholder approval. Auditors provided an unmodified opinion on the annual audited financial results. A NIL certificate of Security Cover for Unsecured, Redeemable, Listed, Taxable Non-Convertible Debentures is enclosed.

Sheela Foam Ltd has appointed Mr. Neeraj Jain as a Non-Executive Independent Director for a term of five years, effective May 14, 2026, subject to shareholder approval. Mr. Jain, a Chartered Accountant and Company Secretary, brings over 35 years of experience in finance, management, and governance. He is not related to any existing directors and is not debarred from holding the office.

Sheela Foam Ltd has scheduled a Board of Directors meeting on May 14, 2026, to consider and approve the audited standalone and consolidated financial results for the year ending March 31, 2026. The board will also consider recommending a final dividend on the company's equity shares for the same financial year. The trading window for designated persons remains closed from April 1, 2026, until 48 hours after the results are declared.

Sheela Foam Ltd. (SFL) announced the sale of 575 fractional shares in the open market. These shares originated from fractional entitlements arising from the share exchange ratio during the amalgamation of Kurlon Enterprise Limited (KEL) with SFL, as approved by the Hon’ble National Company Law Tribunal, Mumbai Bench. A Trust, appointed by SFL's Board, consolidated these fractional entitlements and sold the resulting shares on April 22, 2026. The net proceeds from this sale, after deducting applicable charges and taxes, will be distributed proportionally to the eligible shareholders of Kurlon Enterprise Limited who held these fractional entitlements. This action completes a procedural step in the merger process, ensuring fair compensation for fractional shareholders.

Sheela Foam Ltd has received listing and trading approval from BSE and NSE for 4,88,146 new equity shares. These shares, with a face value of ₹5 each, were allotted to eligible shareholders of Kurlon Enterprise Limited (KEL) as part of the Composite Scheme of Arrangement for the amalgamation of KEL with Sheela Foam. The newly listed shares will be available for trading from April 22, 2026, and will rank equally with the company's existing equity shares. This marks a significant step in the integration process following the merger.