Sham Foam IPO

Sham Foam is engaged in the business of manufacturing, distribution, marketing and sale of polyurethane (PU) foam, mattresses and other allied home-comfort products. The company also manufactures industrial-grade PU foam used across furniture, sports products, automobile seat covers, footwear, innerwear, jackets and other apparel applications.

The company was incorporated in 2020 and its product portfolio includes PU foam, mattresses, pillows, furniture cushions, rebonded foam, quilting foam, comforters and protectors, with mattresses primarily sold under the Featherfresh and Restivia brands. PU foam contributed the largest share of revenue at 86.2% in FY26, followed by quilting foam at 6.2% and mattresses at 5.4%.

The company's manufacturing facility is located in Ambala, Haryana, spans 2,04,460 sq. ft. and has an installed PU foam capacity of 15,000 TPA. Production increased from 4,692 tonnes in FY24 to 5,257 tonnes in FY26, taking capacity utilisation from 78.2% to 87.6%.

Sham Foam has developed a pan-India dealer network of more than 1,300 dealers across 13 states and union territories and does not operate retail stores. Uttar Pradesh was the largest revenue contributor in FY26 at 27.3%, followed by Punjab at 21.1% and Haryana at 12.9%. The top 10 customers contributed 25.1% of revenue from operations in FY26, while the top 10 suppliers accounted for 78.5% of total purchases, with the largest supplier contributing 16.5%. The company plans to expand its geographical reach and customer base, improve operational efficiency and economies of scale, and increase its focus on customised and personalised home-comfort products.