External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Sheela Foam (SFL) in its Analyst meet (on 1st Dec’22) informed that 1) Demand recovery has remained slow in India and Spain post Q2, owing to high inflation and geopolitical unrest 2) Further correction in its key raw material prices by ~10% as on date (from Q2) will support EBITDA margin recovery 3) The Rs 350 crore capex plans to ramp up its production capacity over FY23E-24E is on track.</li><li>In India, Home care segment (80% of revenue) remains impacted owing to demand postponement amid high inflation.</li><li>However, the technical products segment (~20% of revenue) continues its performance led by strong demand from the automotive industry.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Sheela Foam (SFL) in its Analyst meet (on 1st Dec’22) informed that 1) Demand recovery has remained slow in India and Spain post Q2, owing to high inflation and geopolitical unrest 2) Further correction in its key raw material prices by ~10% as on date (from Q2) will support EBITDA margin recovery 3) The Rs 350 crore capex plans to ramp up its production capacity over FY23E-24E is on track.In India, Home care segment (80% of revenue) remains impacted owing to demand postponement amid high inflation.However, the technical products segment (~20% of revenue) continues its performance led by strong demand from the automotive industry.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Sheela Foam (SFL) - Soft Q3, Demand Recovery Delays to Q4

Sheela Foam Ltd

Sheela Foam (SFL) - Soft Q3, Demand Recovery Delays to Q4