Sham FoamNSE SME / BSE SME:
Analyzed by ViewIPO Financial Research Team
Consumer Durables & Home ComfortIndia•Filed 2026-08-11•Listing 2026-08-18•Size ₹40.67Cr •Lot Size 1000
The total amount of money the company is trying to raise from the public through this IPO.
The minimum number of shares an investor must bid for in an IPO.
Is Sham Foam IPO Good? Quick Verdict
Sham Foam IPO scored 73/100 (Moderate Risk) in our deep analysis. The strongest pillar is Dilution at 80/100, while Competition is the primary concern at 55/100. Sham Foam Limited is a growing PU foam and mattress manufacturer with solid profitability and low debt, but faces single-facility and customer concentration risks.
IPO Score
73/100
Moderate Risk
Quick Verdict
Exceptional return metrics with ROE of 81.95% and ROCE of 45.73%.
Conservative leverage with a Debt-to-Equity ratio of 0.19.
Established pan-India distribution network with over 1,300 dealers across 13 states.
High revenue concentration risk on a few major customers.
Single manufacturing facility concentration in Ambala, Haryana.
Company Snapshot
Revenue (TTM)
₹92.31Cr↑ 13.77% YoYTotal money brought in by the company's operations before deducting any expenses.
Profitability
PositiveNet Income ₹8.65CrThe company's total profit after all expenses, taxes, and costs have been deducted.
Gross Margin
— Market Cap (Post-IPO)
₹38.5CrAt upper band ₹130The total value of all the company's shares combined. It shows the overall size of the company.
IPO Size
₹40.67Cr The total amount of money the company is trying to raise from the public through this IPO.
Industry
Consumer Durables & Home Comfort P/E Ratio
23.38xValuation MultiplePrice-to-Earnings. How much you pay for ₹1 of company profit. A high P/E might mean the stock is expensive.
Return on Equity
81.95%ProfitabilityReturn on Equity. Shows how efficiently the company generates profit using the shareholders' money.
Debt to Equity
0.19xLeverageShows how much debt the company has compared to its own funds. >1 means more debt than equity.
Risk Breakdown
Governance
65
Moderate
Financial
75
Moderate
Valuation
80
Excellent
Competition
55
Expensive
Dilution
80
Excellent
Promoter / Mgmt
80
Excellent
AI Summary
Sham Foam Limited is an Indian manufacturer of polyurethane (PU) foam, mattresses, pillows, furniture cushions, and customized industrial-grade PU foam products sold under brands such as Featherfresh and Restivia. Operating a 2,04,460 sq. ft. manufacturing facility in Ambala, Haryana with an installed capacity of 15,000 TPA, the company distributes across 13 Indian states through a network of over 1,300 dealers. Through its ₹40.48 Crore SME IPO on BSE SME, Sham Foam Limited aims to fund facility expansion, purchase machinery, and support working capital requirements. The company has demonstrated strong financial momentum, increasing its annual revenue to ₹92.31 Crore and profit after tax to ₹8.65 Crore in FY26.
Overall Verdict: Sham Foam Limited is a growing PU foam and mattress manufacturer with solid profitability and low debt, but faces single-facility and customer concentration risks.
Key Highlights
- •Operates an in-house manufacturing facility in Ambala, Haryana (2,04,460 sq. ft.) with an installed PU foam capacity of 15,000 TPA.
- •Markets home comfort products under proprietary brands Featherfresh and Restivia alongside industrial-grade PU foam.
- •Maintains an extensive network of over 1,300 dealers across 13 states and Union Territories in India.
- •ISO 9001:2015 quality management certified and holds BIS Certification No. IS 7933:2022.
- •Financial growth trajectory showed revenue expanding from ₹73.72 Crore in FY24 to ₹92.31 Crore in FY26.
- •Net profit margin expanded significantly to 9.37% with PAT reaching ₹8.65 Crore in FY26.
Financial Performance
Revenue (Annual) Total money brought in by the company's operations before deducting any expenses.
↑ +13.8% YoYTotal money brought in by the company's operations before deducting any expenses.
INR in Crores
Net Income (Annual) The company's total profit after all expenses, taxes, and costs have been deducted.
↑ +141.6% YoYThe company's total profit after all expenses, taxes, and costs have been deducted.
INR in Crores
EBITDA vs PAT Earnings Before Interest, Taxes, Depreciation, and Amortization. Shows pure operating performance.
↑ +106.8% YoYEarnings Before Interest, Taxes, Depreciation, and Amortization. Shows pure operating performance.
INR in Crores
EBITDA PAT
IPO Timeline
IPO Opens2026-08-11
IPO Closes2026-08-13
Basis of Allotment2026-08-14
Refunds & Demat2026-08-15
Listing Date2026-08-18
Valuation Analysis
IPO Price₹130
Estimated Fair Value Pending Data
The theoretical true worth of the company based on its financial performance and peers.
Valuation Premium Pending
How much more expensive this IPO is compared to its estimated fair value or its industry peers.
vs Fair Value
IPO DNA
Growth 65
Evaluates the company's historical and projected revenue and profit expansion.
Governance 65
Assesses the quality, transparency, and track record of the company's management team.
Profitability 75
Measures how effectively the company turns its sales into actual profit.
Valuation 80
Analyzes whether the IPO price is cheap, fair, or expensive compared to peers.
Competition 55
Evaluates the company's market share, moats, and competitive threats in its industry.
Execution 80
Assesses the company's ability to successfully utilize IPO proceeds and deliver on its promises.
Pros vs Cons
Pros
- High return capital efficiency with ROE of 81.95% and ROCE of 45.73%.
- Low financial leverage with a healthy Debt-to-Equity ratio of 0.19.
- In-house production capability with 15,000 TPA installed capacity supporting product customization.
- Wide pan-India distribution network with 1,300+ dealers in 13 states/UTs.
Cons
- Revenue reliance on a limited number of major clients.
- Single manufacturing facility exposure in Ambala, Haryana.
- Lack of long-term formal agreements with key suppliers and dealers.
- Past history of negative operating cash flows and high working capital intensity.
Financial Health
Revenue Growth13.8% YoY (FY26) (Good)
The year-over-year percentage increase in the company's total sales.
Debt LevelDebt to Equity ratio of 0.19 (Excellent)
An assessment of whether the company's borrowing is manageable or risky.
Cash & EquivalentsUndisclosed (Moderate)
How much liquid cash the company has on hand to fund daily operations.
Institutional Signals
Anchor InvestorsNo
Large institutional investors who buy shares before the IPO opens to the public, signaling confidence.
VC Backing TierNone
Whether renowned Venture Capital or Private Equity firms have invested in the company.
Founder Ownership100%
The percentage of the company still owned by its original founders after the IPO.
Strategic PartnersNone
Key business alliances that give the company a competitive edge.
Sham Foam IPO — Frequently Asked Questions
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Source Citation: All financial data and risk metrics are derived from the official prospectus filed with the regulator (SEBI DRHP/RHP). ViewIPO algorithms process this public data for informational purposes. Not financial advice.
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