Kurl-on Enterprise Unlisted Shares
Kurlon is one of the oldest mattress companies in India. It offers a wide range of home comfort solutions ranging from mattresses (RC mattress, spring mattress & foam mattress), polyurethane foam, home furniture & furnishing products under the brand name Kurlon.
Kurlon Enterprise Ltd (KEL) was incorporated in 2011 as a wholly-owned subsidiary of Kurl On Ltd. As on 31.03.2019, the Kurl-On Limited holds 85.06% shares in Kurl-On Enterprise.
In the year 2011, consequent upon the Business Transfer Agreement between Kurl-on Limited and Kurl-On Enterprise, the 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( KEL) effective 1st April 2014. This means the main business of the mattress is with Kurl-ON Enterprise now.
Headquartered in Bengaluru, KEL is now the operating company. Both the companies are closely held, an unlisted public Ltd. Kurl-On Enterprise has one wholly-owned subsidiary i.e. Kurl-on Retail. Kurlon Retail Limited was incorporated under the name and style of Kurlon Mattress Private Limited on 31.08.2012.
The Company commenced its commercial operation during 2012. The name of the Company was changed to Kurlon Retail Pvt Ltd on 01.02.2018 and subsequently to Kurlon Retail Ltd wef 16.05.2018.
Mr. T Sudhakar Pai Chairman & Managing Director
Mrs. Jaya S Pai Non-Executive Director
Dr. Nitin G Khot Non-Executive & Independent Director
Sri. S Ananthnarayanan Non-Executive & Independent Director
Mr. Vishal Tulsyan Non-Executive & Independent Director
Mr. Shambhu Kumar Bhotika Chief Financial officer
Mr. Monu KumarCompany Secretary
Category of shareholder No. of shares Holding (in %)
Promoters 3,09,47,449 85.06%
India Business Excellence Fund IIA 23,54,086 6.47%
IL AND FS Trust Company Ltd 13,24,174 3.64%
Others 17,56,684 4.83%
Total outstanding shares 3,63,82,393 100%
The Company has established itself as the top mattress producer / seller in the Country with the brand Kurlon being a Superbrand.
• COVID - 19 pandemic has adversely affected the economy. To support the Economy, the Government of India has rolled out policy stimulus equivalent to INR 20 trillion. It is expected that by end of the year the Indian economy would be back on track.
• With Work From Home expected to be the new normal and more people spending greater time at home, it is expected that the demand for the products used at home would go up specially in the Mattress and furniture space
• Online segment is expected to experience significant growth due to thrust on online mode of purchasing by customers
• The company has acquired the licensee rights of Spring Air and Englander brands which are premium luxury brands in
the global market which would improve the penetration in the luxury segment of the Company
• The Industry is largely unorganized and with greater awareness and higher income levels, the market share of the organized players would eventually go up
• In the current challenging scenario, your Company foresees a good opportunity for growth and off take of its products owing to its strong manufacturing base, established marketing & logistics infrastructure, & strong financials.