Sunday, 3 February 2019

KURL-ON LTD & KURLON ENTERPRISES LTD – FY 2018 RESULT HIGHLIGHTS!



Kurl-On Ltd (KL) incorporated in 1962, is India’s largest manufacturer and seller of mattress. It is involved in manufacturing of rubberized coir, latex foam and polyurethane foam along with entire range of home comfort solutions, high end soft furnishing such as pillows, cushions, bed linen/ sofa, ergonomically designed furniture, furnishing, etc.

The flagship brand “Kurl-On” enjoys ~35% market share in organized sector with sales of over 1.2 million mattress p.a.

Kurlon Ltd (KL) has a subsidiary company Kurlon Enterprises Ltd (KEL) incorporated in 2011. KL has transferred its business of Rubberized Coir, Latex Foam, Polyurethane Foam, Pillows, Spring Mattresses, Furniture, Furnishing, sofa and entire home comforts and related products were transferred to the subsidiary company effective 1st April, 2014. KEL is an operating company with headquarter in Bengaluru.

KEL markets its products under the flagship brand “Kurl-On with Bounty, Luxurino, Angelica Box TOP, Klassic, Mermaid, Kurlo bond, Convenio, Ortho, Relish, SpineKare, etc. as sub brands.

Kurlon has 8 manufacturing facilities, dealer network comprising more than 7000 dealers, 70 branch and stock points.

Kurlon Ltd (Holding Company) & Kurlon Enterprises Ltd (Subsidiary) are an “Unlisted Company”.


FINANCIAL HIGHLIGHTS: (All Fig.in Crs.)         
PARTICULAR
KURLON LTD
FY 2018
FY 2017
STANDALONE
CONSOLIDATE
STANDALONE
CONSOLIDATE
INCOME
133.92
1108.60
110.18
1027.42
PAT
6.3
85.72
5.9
62.95
EPS
4.25
57.60
3.93
42.30
EQUITY
14.88
14.88
14.88
14.88
FV
10
10
10
10
BV
112.99
299.04
108.74
233.90

PARTICULAR
KURLON ENTERPRISES LTD
FY 2018
FY 2017
STANDALONE
CONSOLIDATE
STANDALONE
INCOME
1118.14
1120.62
1038.76
PAT
83.99
84.15
60.79
EPS
30.23
30.28
27.07
EQUITY
13.89
13.89
11.23
FV
5
5
5
BV
112.66
112.67
105.01



EXPANSION & FUTURE STRATEGIES:
-Kurlon proposed to come up with an IPO to raise Rs. 500 Crs after successful debut of Sheela Foam Ltd on NSE/BSE. The funds are to be utilized for expansion program.

-Kurlon Ltd is expecting nearly 2 fold rise in its revenue at over Rs. 2000 Crs. in next 3 year time frame.

-It is planning to expand its current chain of home furniture & furnishing outlets “Home Komfort” to 2500 by 2020 from 920.

-The company is focusing on mid – premium segment, Delhi NCR & Northern market as a part of expansion strategy expecting 25% growth in its Total Revenue from these segments.

-In AGM held in Sept, 2018 KEL had proposed to issue bonus shares to existing shareholders under the ratio of 713 shares for every 2000 shares held. Record Date for the same was fixed 3rd Oct, 2018. With this the new equity paid up capital of KEL shall be Rs. 18.84 Crs with face value of Rs.5 per share for FY 2019.

Thus based on strong expansion plans to be supported by upcoming IPO, ever growing financial performance y-o-y and a leading brand in the market, We Recommend BUY- Kurlon Ltd & Kurlon Enteprises Ltd” from long run growth perspective.




For buying and selling any unquoted / unlisted / delisted or suspended shares in physical or demat you can reach us at Contact No.91+ 09215709100 or Email us on mittalmanish2003@gmail.com


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