Sheela Foam Reports A Steady Progress In FY25 As Integration Stabilizes

Sheela Foam Limited - home to flagship brands Sleepwell and Kurlon and India’s leading PU foam manufacturer has announced its financial results for the fiscal year ended March 31, 2025. The company reported a steady performance during a year of transition following the acquisition of Kurlon.

With the coming together of two leading brands - Sleepwell and Kurlon, the company navigated the challenges of integration, market alignment, and evolving consumer expectations for quality sleep solutions. Synergies are now reflecting in operational efficiencies, as gross margins continue to inch higher

FY25 Financial Highlights (Consolidated):

•                              Revenue: INR 3,439 crores – YoY growth of 15 %*

•                              EBITDA: INR 286 crores^

•                              Net Profit: INR 97 crores

FY25 Financial Highlights (Standalone):

•                              Revenue: INR 2588 crores – YoY growth of 38 %*

•                              EBITDA: INR 235 crores

•                              Net Profit: INR 112 crores

* KEL post acquisition i.e. 20th Oct’23

^ EBITDA includes INR 35 crs paid by KCPL (erstwhile owner of KEL) against working capital / inventory due to quality issues, classified under ‘other income’ in financial statements

The mattress segment continues to be a key driver with volumes growing by 12 % year- on-year, with robust increase in demand across key segments. Brand Sleepwell continuing its leadership dominance, while Kurlon focused on strengthening its

presence in regional markets through deeper distribution and a sharpened product portfolio. The e-commerce business delivered strong results, positioning Sheela Foam as a leading player in the mattress category. The Small Town India initiative also scaled up expanding the company’s reach through 5,800+ retail touchpoints in semi-urban and rural areas.

SFL further strengthened its leadership position in Comfort form by adding 1000+ new dealers. The B2B foam segment continues to grow – both in volume and value terms led by the furniture and automotive sectors. The company remains focused on developing new application of technical foam for various industries including aviation, ceramic filters, Acoustic (high KVA gensets), footwear insoles etc.

The year also saw sustained investment in brand building, innovation, and omni- channel expansion. New product launches—such as Sleepwell Pro FitRest, Kurlon DuoRest, and the expanded spring mattress range under both brands which were well received by consumers and trade partners alike.

Sheela Foam also advanced its digital leadership, engaging customers meaningfully across platforms. With the sustainably increasing engagement rates on social media, the brands are building stronger connections with consumers through relevant and endearing content on the importance of sleep for a good health. Simultaneously, over 3,000+ retail outlets have been activated on Google My Business (GMB), enhancing local visibility during online search and helping consumers discover nearby stores with ease—translating into increased footfalls and improved customer service experiences.

Management Commentary:

Mr. Rahul Gautam, Executive Chairman, Sheela Foam Limited, said “FY25 has been a foundational year. We’ve made meaningful progress in aligning teams, systems, and strategies across Sleepwell and Kurlon. While topline inches upwards, higher gross margins reffect the post-merger synergies.”

Mr. Tushaar Gautam, Managing Director, Sheela Foam Limited, added “ We have emerged from a year of consolidation with clarity and focus. With sharper customer orientation, disciplined execution, and a strong product pipeline, we are well-positioned to strengthen our position in mattress and foam categories.”

For further details on Sheela Foam’s FY25 performance, please visit our Investor Relations page or contact Mr. Iquebal Ahmed, Mobile: 9717096729.

About Sheela Foam Limited

Leading the science of comfort in three continents, Sheela Foam is an Indian multinational company. Among the most RCD-focused foam manufacturers globally, Sheela Foam is a leading producer of polyurethane (PU) foam operating across Asia, Australia, and Europe. Founded in 1971, the company has always focused on delivering comfort to its consumers through its products. In India, its flagship brands - Sleepwell and Kurlon serve the comfort needs of over a billion people, reaching all states through a network of over 20,000 retail touchpoints. A strong practitioner of giving back to society, Sheela Foam has taken diverse initiatives for emotional wellness and multi- dimensional skill development under the Sleepwell Foundation.

GreenCell Mobility Secures Landmark Order Of Over 1,200 Electric Buses From CESL Under PM E-Bus Sewa Scheme

GreenCell Mobility, India’s leading electric mass mobility company, has been given the Letter of Award (LOA) for the supply and deployment of 472 Eicher electric buses in Madhya Pradesh under the PM E-Bus Sewa Scheme. GreenCell Mobility has partnered with VE Commercial Vehicles (VECV) for deployment of state-of-the-art electric buses across 6 cities in Madhya Pradesh. Additionally, GreenCell Mobility has also joined forces with Pinnacle Mobility Solutions (EKA Mobility), for the supply and deployment of 750 cutting edge electric buses across 11 cities in Andhra Pradesh.

GreenCell Mobility, backed by Eversource Capital, is driving India's transition to clean electric mass mobility, paving the way for a sustainable future. The company is also actively developing and deploying the necessary charging infrastructure to support these deployments, ensuring seamless operations. GreenCell Mobility’s 900 electric buses are already operational in Uttar Pradesh, Gujarat and Maharashtra. These new contracts will see GreenCell Mobility expand its electric bus operations across Madhya Pradesh and Andhra Pradesh, further strengthening its commitment to electrifying public transport and transforming urban mobility across India.

Commenting on the announcement, Mr. Devndra Chawla, MD & CEO, GreenCell Mobility, said, "GreenCell Mobility is honored to collaborate with the Governments of Andhra Pradesh and Madhya Pradesh to support the state’s transition to sustainable public transport. These projects are a major milestone in our mission to transform mass mobility through zero-emission electric buses. Backed by strategic partnerships with leading OEMs and a robust financing model, we are committed to making clean, efficient public transportation accessible throughout India's growing cities- while delivering a safe, reliable, and superior guest experience."

Mr. Vinod Aggarwal, MD & CEO, VE Commercial Vehicles, shared, “We are delighted to take the next step with GreenCell Mobility by introducing Eicher electric buses in their operations under the PM E-Bus Seva Scheme. These buses are built on reliable technology and have already clocked 1.4 crore kms across India. It is a matter of pride for us that these buses will operate in the state of Madhya Pradesh which has been home to Eicher Trucks and Buses for over four decades. We thank the Government of Madhya Pradesh and GreenCell Mobility for partnering with us to introduce eco-friendly public transportation.”

Dr. Sudhir Mehta, Founder & Chairman of EKA Mobility & Pinnacle Industries Limited, said, “We are proud to partner with the Government of Andhra Pradesh and collaborate with GreenCell Mobility to deliver green, smart, and efficient transportation solutions for the people of the state. This partnership marks a significant step toward building smarter, more sustainable cities across India.”

PM E-Bus Sewa Scheme is part of the Central Government's initiative to deploy 10,000 E-buses nationwide and support the Government of India’s mission to electrify public transport. In FY 2024-25, CESL (Convergence Energy Services Limited) introduced a tender for 4,588 electric buses under the PM E-Bus Sewa scheme.

GreenCell Mobility’s state of the art electric buses are designed for performance and comfort, offering over 250 kms range per charge, fast-charging capability, AI-powered energy optimization, and zero tailpipe emissions—contributing to cleaner urban air. Equipped with air conditioning, real-time tracking, CCTV surveillance, ergonomic seating, air suspension, low- noise operation, and advanced safety systems, these buses deliver a premium, safe, and seamless commuting experience.

GE Aerospace Talks Hybrid Electric Flight At IEEE’s ECCE Asia 2025 To Power Electronics Enthusiasts

GE Aerospace was at IEEE’s Energy Conversion Congress & Expo (ECCE) Asia 2025 at Bengaluru from May 11-14, as a part of their R&D focus in the field of power electronics and developing talent in India. The four-day event brought together over 600 academicians and industry professionals across all relevant areas of power conversion. At the event, Dr. Suma M N, Power Electronics Leader, Research shared how GE Aerospace has advanced scalable hybrid electric solutions for over a decade, building on its world-class expertise in propulsion and electrical power generation systems.

 Hybrid electric propulsion technologies are a key part of the aviation industry's ambition to improve equipment efficiency by helping optimize engine performance. Hybrid electric technologies are also compatible with conventional and alternative jet fuels. The GE Aerospace team also engaged with event attendees, re-affirming the company’s commitment to innovation and advancing the future of flight.

KK Wind Solutions Announces Opening Of A New Factory Near Bengaluru; To Hire 400+ Skilled Manpower Over The Next 5 Years

KK Wind Solutions, a EUR 1 billion Danish company owned by A.P. Moller Holding, has officially inaugurated a new factory and offices in Bengaluru, India. The expansion marks a major step in the company’s international growth strategy and its long-term commitment to supporting India’s renewable energy ambitions. 

The new factory will be the company’s largest manufacturing facility in Asia, employing up to 400 people. The factory is now an integral part of KK Wind Solution’s global supply chain, servicing customers across the region and around the world.

The new site was inaugurated today at a formal ceremony attended Mr. Eske Bo Knudsen Rosenberg, Consul General of Denmark in Bengaluru, as well as partners, customers, and members of the KK global leadership team. The company also inaugurated a new office in the city of Bengaluru, where 150 employees will work in a global shared services function.

“India is an increasingly important hub in the global wind energy value chain, and Bengaluru was the clear obvious choice for our expansion in India. The city has renowned universities and technical institutes, and a large talent pool of engineering professionals.” said Mauricio Quintana, CEO of KK Wind Solutions. “With these new facilities, our supply chain is now even more global, enabling us to deliver high quality power control and converter solutions to our customers around the world.”

A growing commitment to India

The inauguration comes at a time of expanding cooperation between Denmark and India under the Green Strategic Partnership, which promotes joint innovation, sustainable development, and trade in green technologies. In India alone, meeting the country’s 2030 renewable energy target of 99 GW would mean a doubling of installed wind power capacity in just five years.

“As a global company founded in Denmark, we are proud to contribute to this partnership by creating jobs, transferring know-how, and accelerating clean energy adoption,” Mauricio Quintana added. “Together with our partners in India, we are engineering solutions for a renewable future.” 

“The expansion of KK Wind Solutions underlines the close green strategic partnership between India and Denmark. India is committed to the necessary green transition and has set ambitious renewable energy targets. From the Danish side, we are committed to working together with our Indian partners and the wind industry to help achieve these targets. The investment by KK Wind Solutions in a new factory and office facilities in Bengaluru with more than 500 jobs signifies India’s growing importance as a hub for clean technology manufacturing,” says Eske Bo Rosenberg, Consul General of Denmark in Bengaluru, India.

Expansion in Bengaluru

The investment in Bengaluru reflects KK Wind Solution’s strategic focus on building sustainable operations in close collaboration with local ecosystems — from suppliers and institutions to communities and talent. The site will support engineering, manufacturing, and customer services, tailored to meet growing demand in Asia and beyond. 

KK Wind Solutions has been present in Bengaluru since 2017. The company operated an 11,000 m2 factory in the city that produced power converters and controls for the wind industry. The company’s recent growth and new business opportunities required the establishment of a new factory in the region.

The chosen site in Dobbaspet, in an industrial park on the outskirts of Bengaluru, presented the best location to build a new, larger facility of this size, benefiting from other international businesses located in the area.

The facility will become a key strategic manufacturing hub for the company, and its largest manufacturing facility in Asia. The site will create up to 400 jobs and have a significant economic contribution in Bengaluru.

In addition to the manufacturing facility in Dobbaspet, KK Wind Solutions has also opened a new office in the city of Bengaluru. The new office is three times larger than the company’s previous office and will enable the growth of the company’s global shared services function. 150 colleagues are expected to be employed at the city office.

About the new Bengaluru facilities

·         The 17,000 m2 factory consists of 14,000 m2 manufacturing and logistics space and a 3000 m2 office space, making it KK Wind Solutions’ largest manufacturing facility in Asia. 

·         The total site is 24,000 m2, with a 7,000 m2 landscape surrounding the factory.  

·         The factory will produce convertors and control systems for the wind industry.

·         The factory is fully licensed from the government and also for export (MOOWR Scheme), and fully qualified according to leading international standards for quality, safety and environmental best practice.

·         Production commenced in April 2025.

·         Sustainability was a key consideration in the design of the building. Solar panels on the roof will provide clean energy and support local charging stations for electric vehicles.

·         The factory employs 250 production and staff workers in a variety of functions from manufacturing, logistics, quality and safety, with the total number of employees expected to grow to 400.

·         150 staff workers will be employed in a global shared services function based at a new office in the city.

About KK Wind Solutions 

KK Wind Solutions is a EUR 1 billion revenue company with more than 3,700 colleagues in 10 countries. Through its core business of delivering power converters and controls for wind turbines, the company has become an industry leader in delivering integrated electrical systems, supporting the renewable energy transformation. Having a strong long-term owner in A.P. Moller Holding enables its future growth ambitions. By leveraging on its more than 40 years of expertise in the wind industry, the company is well positioned to consolidate its investment in cooling and expand into new frontiers like green hydrogen and impact more industries transitioning to electrification.

Learn more about us: www.kkwindsolutions.com

AlphaBake Launches First Ever Virtual Try-Ons For Online Clothing Brands

 

* Aims to redefine customer experience and impact business outcomes

AlphaBake, a pioneer in generative AI solutions for the fashion industry, has launched a virtual try-on option for online clothing brands, which combines the best of GenAI foundational models with proprietary AI models and workflows, to create a seamless and scalable customer experience saving time and energy. The new virtual try-ons offer much more promise in personalization and real business impact on ground compared to all the previously implemented versions like Kiosks or life size mirror like implementations in the past.

Launched commercially with brands  - www.prasantisarees.com, Jade Blue and www.maatshi.com -  virtual try-ons deliver a scalable and photorealistic try-on experience driving higher conversions, boosting revenue, cutting customer acquisition costs and increasing top-of-funnel traffic. 

Sharing more details, Krishna Sumanth, CEO & Founder of AlphaBake said, “In today’s fast-paced world, virtual try-ons are a boon helping customers see how clothes look on them in different settings, like indoor or outdoor, day or night, by uploading photos with real lighting. Close to 40% of try-ons are shared with others on WhatsApp or Instagram and close to 15% try-ons are added to carts by the customer increasing sales for the brands.  AlphaBake is redefining and enhancing shopping experience by leveraging technology to connect the digital and the physical world, and empowering customers to make smarter decisions. We are on a mission to give new-gen AI-powered experience to all our users targeting Trillion Try-ons over the next 3 years!”

AlphaBake’s efficiency and personalisation give customers better control over selection, allowing users to upload their image and instantly see how the garment looks on them. Clothing brands can integrate this intuitive interface with their websites, and it is especially easy for those brands who have built their D2C website on Shopify. Application Programming Interface (APIs) are also available for non-Shopify platform. 

On the virtual try-ons, Anand Krishnamoorthy, Founder & CEO, Prashanti sarees said, “We have been using Alphabake’s Virtual try-on software for Prashanti, and it has been a game-changer for us. The ability for our customers to visualize sarees on their own photos has significantly enhanced their shopping experience. Since we integrated Alphabake into our platform, the results have been very impressive. Customer engagement has gone up sharply, and we have seen a noticeable improvement in our conversion rates. It genuinely feels like magic when you see the try-on outputs — they are realistic, intuitive, and easy to use. The product itself is very innovative, and it’s clear that the team behind it has continuously refined the algorithm to deliver even better results over time. It’s a strong testament to the capabilities and vision of the founding team. Overall, Alphabake has added real value to our business and to our customers, and we look forward to seeing how it continues to evolve”.

With online retailers continuing to close the gap between digital and virtual spaces, AlphaBake is tackling this challenge by making the virtual try-on experience as real as possible. The new-gen AI-powered technology developed by AlphaBake is detailed and has an increased rate of customer engagement and conversions. With AI models improving rapidly, AlphaBake envisions the try-on experience evolving into a default feature in online fashion shopping, helping businesses boost their experience and conversion.

Curefoods Acquires Pan-India Rights For Krispy Kreme; To Expand Brand’s Footprint In North India

* Curefoods will now have access to 11 stores in Delhi-NCR, and operate 100+ Krispy Kreme locations across India

Curefoods, has acquired pan-India rights for Krispy Kreme— the global doughnut and coffee brand. The move marks Curefoods’ strategic expansion into the northern region of the country, enabling it to scale Krispy Kreme’s footprint across India.

Previously holding exclusive distribution rights for South India, this acquisition includes a takeover of 11 Krispy Kreme stores in Delhi NCR, comprising 7 physical retail outlets and 4 cloud kitchens, in areas such as Worldmark Aerocity, Select City Walk Mall Saket, Ambience Mall Gurgaon, Promenade Mall Vasant Kunj, and Mall of India Noida, among others.

With this expansion, Curefoods now operates over 100 Krispy Kreme outlets across the country—a mix of dine-in stores and cloud kitchens.

Ankit Nagori, Founder, Curefoods, said, “This marks a pivotal step in Krispy Kreme’s India journey. With full national rights now under our umbrella, we are excited to build a unified strategy for brand growth, customer experience, and innovation across the country. Delhi NCR is the beginning, and we are committed to scaling Krispy Kreme in a way that’s sustainable, accessible, and exciting for our consumers.”

While this announcement marks an entry into North India, Curefoods has also outlined plans to deepen its presence across other parts of the country in the future, including western markets like Mumbai.

The acquisition underscores Curefoods’ long-term vision of bringing globally loved food brands closer to Indian audiences by leveraging its deep distribution networks, operational agility, and consumer insights.

About Curefoods:

Curefoods is a Bangalore-based house of F&B brands, founded by Ankit Nagori in 2020. It houses brands like Kitchens of EatFit, CakeZone, Nomad Pizza, Sharief Bhai, Olio Pizza, Frozen Bottle, Krispy Kreme, Arambam, and many more. Additional information on Curefoods is available at https://curefoods.in.

BMW Motorrad Expands Its Dealer Network Across Indian Market

* JSP Motorrad Inaugurates Its Second Dealership Facility In Bengaluru

* Discover the exciting world of BMW Motorrad with a captivating range of motorcycles, lifestyle products and accessories.

*  Dedicated Aftersales facility for comprehensive vehicle service. #MakeLifeARide #BMWMotorradIndia #BMWMotorrad

BMW Motorrad strengthens its dealer network footprint in India by inaugurating its second dealership facility of JSP Motorrad in Bengaluru, Karnataka. The dealership is located at H. No 115/3, Property No 93/2C, 7th Main Road, B Narayanapura Mahadevapura Post, Bengaluru Urban, Karnataka – 560048.

JSP Motorrad represents BMW Motorrad with Sales and Service facilities in Hyderabad, Vijayawada and Bengaluru and is headed by Mr. Sudarshan Ponraj, Dealer Principal, JSP Motorrad.

Mr. Vikram Pawah, President and CEO, BMW Group India said, “At BMW Motorrad, we go beyond building exceptional motorcycles, we create experiences that last a lifetime. Our rider-first approach and strong dealer network have set new benchmarks in the premium segment. The launch of our second BMW Motorrad dealership in Bengaluru with our trusted partner JSP Motorrad is a testament to the growing demand in this vibrant city. This new facility will further strengthen our footprint and deliver an immersive, personalized and premium ownership journey to our customers.”

Mr. Sudarshan Ponraj, Dealer Principal, JSP Motorrad said, "We are proud to enhance our footprint in Karnataka with the opening of another world-class dealership in Bengaluru. The striking exterior and inviting interior of our facility create a welcoming haven for our rider community to explore the latest BMW Motorrad motorcycles, riding gear, and lifestyle collections. Our mission transcends business; we are devoted to fostering a vibrant riding community that embodies the spirit of adventure, living by our motto: ‘Make Life a Ride.’

The strategically located dealership is spread across 5,200 sq. ft. The showroom displays 15 motorcycles, a customer lounge, BMW Motorrad riding gear, accessories and lifestyle collections zone. The aftersales facility has 4 mechanical bays and equipped with the latest tools and equipment for complete vehicle service. JSP Motorrad delivers international standards of Sales, Service, Spareparts and Business systems in all processes to ensure best-in-class pre and post sales ownership experience.