House of Kieraya Ltd (Furlenco) - Unlisted Shares
Fundamentals
- Current Price
- ₹185
- Market Cap
- ₹1,059.21 Cr
- ISIN
- INE467V01019
- Face Value
- ₹1
- P/E Ratio
- 370.00
- EPS
- 0.5
- P/B Ratio
- 12.79
- Book Value
- ₹14.47
- Debt / Equity Ratio
- 1.81
Key Financials
Profit & Loss
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Net Revenue | 228.74 | 139.56 | 155.78 | 129.24 | 84.31 |
| Growth % | 63.90% | -10.41% | 20.54% | 53.29% | 0 |
| Total Operating Expenses | 173.69 | 215.11 | 189.48 | 229.92 | 127.51 |
| Growth % | -19.26% | 13.53% | -17.59% | 80.32% | 0 |
| Operating Profit (EBITDA) | 55.05 | -75.55 | -33.70 | -100.68 | -43.20 |
| Operating Profit Margin % | 24.07% | -54.13% | -21.63% | -77.90% | -51.24% |
| Other Income | 11.31 | 12.34 | 1.71 | 7.38 | 3.66 |
| Finance Costs | 18.62 | 32.12 | 66.89 | 36.13 | 21.22 |
| Depreciation and Amortization Expense | 44.63 | 34.89 | 29.50 | 22.04 | 26.82 |
| Profit Before Tax | 3.11 | -130.22 | -128.38 | -151.47 | -87.58 |
| Income Tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Profit After Tax | 3.11 | -130.22 | -128.38 | -151.47 | -87.58 |
| Growth % | 102.39% | -1.43% | 15.24% | -72.95% | 0 |
| PAT % | 1.36% | -93.31% | -82.41% | -117.20% | -103.88% |
Company Financials
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Equity Capital | 50.39 | 111.05 | 91.93 | 22.73 | 21.40 |
| Reserves and Surplus | 32.46 | -136.11 | -321.77 | -198.63 | -95.47 |
| Other Equity | 0.00 | 0.00 | 0.00 | 0.05 | 0.05 |
| Total Equity | 82.9 | -25.1 | -229.8 | -175.9 | -74.0 |
| Long Term Borrowings | 91.32 | 48.68 | 17.60 | 72.56 | 33.39 |
| Other Long Term Liabilities | 19.48 | 20.30 | 24.33 | 1.80 | 1.61 |
| Total Non-Current Liabilities | 110.80 | 68.98 | 41.93 | 74.36 | 35.00 |
| Short Term Borrowings | 58.72 | 30.80 | 167.35 | 122.61 | 168.00 |
| Other Current Liabilities | 208.78 | 210.87 | 208.94 | 129.99 | 67.56 |
| Total Current Liabilities | 267.50 | 241.67 | 376.29 | 252.60 | 235.56 |
| Equity + Liabilities | 461.15 | 285.59 | 188.38 | 151.11 | 196.54 |
| Fixed Assets (incl. WIP) | 339.51 | 188.41 | 112.40 | 79.65 | 62.94 |
| Other Non Current Assets | 15.28 | 7.60 | 30.62 | 21.22 | 83.17 |
| Total Non Current Assets | 354.79 | 196.01 | 143.02 | 100.87 | 146.11 |
| Trade Receivables | 8.11 | 5.01 | 14.35 | 7.90 | 6.15 |
| Cash and Bank Balances | 32.01 | 35.37 | 9.62 | 13.00 | 32.21 |
| Other Current Assets | 66.24 | 49.20 | 21.39 | 29.34 | 12.07 |
| Total Current Assets | 106.36 | 89.58 | 45.36 | 50.24 | 50.43 |
| Total Assets | 461.15 | 285.59 | 188.38 | 151.11 | 196.54 |
Shareholding Pattern
- Sheela Foam(Sleepwell Mattress)
- 45%%
- Lightbox
- 22.40%%
- Promoters
- 8.80%%
- Crescent
- 4%%
- Eagles
- 2.20%%
- Others
- 17.60%%
Strengths & Weaknesses
Strengths
- Strong market position in the furniture rental industry, with established brand: Furniture is largely an unorganised market. HoK, one of the two largest players in the furniture rental business, and has a subscriber base of over 1 lakh customers with a net addition of 4,000-5,000 customers every month The net addition to the subscriber base is expected to improve over the medium term.
- MOAT(Competitive advantage): HoK differentiates itself from competitors through its high-quality offerings, in-house designing, wide range of products, and large in-house manufacturing capacity, which accounts for 40-50% of its production, contributing to improved customer satisfaction and driving growth.
- Strong Investor Confidence: Sheela Foam Limited, the company behind the popular Sleepwell mattress brand has invested 30 Cr in HoK recently. SFL has invested ~ Rs 400 crore in HoK till date. HoK is strategically important for SFL as it is in the allied sector and can be a potential growth vehicle.
Weaknesses
- Capital-intensive operations: The business requires continuous addition of furniture for renting out to customers. Consequently, to continue growing, the company needs to invest more in fixed assets.
About House of Kieraya Ltd (Furlenco)
A pan-India online furniture and lifestyle brand, best known for its furniture rental business. House of Kieraya offers a host of items such as furniture, mattresses, appliances etc. The company is currently available in 26 cities across India. HoK presently has four brands to capture the entire lifecycle of a customer: Furlenco is one of India’s largest residential furniture and lifestyle rental businesses. Furbicle sells refurbished and recycled furniture that has completed its lifecycle in the Furlenco business. Unlmtd is an annual furniture and appliance subscription service. Prava sells high-end retail furniture.
Board of Directors
- Ajith Mohan Karimpana - Director
- Meena Jagtiani - Director
- Tushaar Gautam - Director
- Rahul Gautam - Director
- Ravindra Dhariwal - Director
- Sandeep Murthy - Director
Senior Management
- Ajith Mohan Karimpana - Founder and CEO
- Ankur Maheshwari - Chief Financial Officer
- Kulkarni Ravindra Sanjeev - Company Secretary
Frequently Asked Questions
- Is there any lock in period for House of Kieraya Ltd (Furlenco) unlisted shares?
- The lock-in period for House of Kieraya Ltd (Furlenco) Unlisted Shares differs based on the investor category, as per SEBI regulations:
● Venture Capital Funds and Foreign Venture Capital Investors (FVCIs):
A lock-in period of 6 months from the date of acquisition of the shares.
● Alternative Investment Funds – Category II (AIF-II): No lock-in period is applicable.
● Other investors (including retail investors, high net-worth individuals (HNIs), and body corporates):
A lock-in period of 6 months from the date of IPO listing of House of Kieraya Ltd (Furlenco).
These norms were introduced by SEBI in August 2021, reducing the earlier lock-in requirement from one year to six months. The change was aimed at improving liquidity and encouraging investor participation in companies preparing for public listings. Since then, interest in pre-IPO investments has increased, with investors exploring opportunities to participate in companies ahead of their potential listing. - How much long term capital gains tax do I have to pay on House of Kieraya Ltd (Furlenco) unlisted shares?
- Long-Term Capital Gains (LTCG) on Unlisted Shares in India arise when such shares are sold after being held for a period of more than two years. The key aspects of LTCG taxation on House of Kieraya Ltd (Furlenco) unlisted shares are outlined below:
1. Tax Rate
Earlier, LTCG on unlisted shares was taxed at 20% with indexation benefits. However, as per Union Budget 2024, the tax structure has been revised. For transfers made on or after 23rd July 2024, LTCG on unlisted shares is taxed at a flat rate of 12.5%.
2. Indexation Benefit
Previously, investors could avail indexation benefits to adjust the purchase price for inflation, thereby reducing taxable gains.
This indexation benefit has been removed under Budget 2024 for unlisted shares transferred on or after 23rd July 2024.
3. Importance for Investors
Understanding LTCG taxation is important for both retail investors and High Net-Worth Individuals (HNIs), as it directly impacts investment returns, exit planning, and overall tax strategy.
4. Calculation Method
For eligible transactions after 23rd July 2024, LTCG will be calculated at a flat tax rate of 12.5% on the capital gains, without indexation.
5. Applicability
LTCG tax is applicable when unlisted shares are held for more than 24 months before being sold.
6. Relevance
These tax provisions are particularly relevant for investors in the unlisted share market who are considering exiting their investments after a long-term holding period. - How do I start investing in House of Kieraya Ltd (Furlenco) unlisted shares through InCred Money?
- Buying House of Kieraya Ltd (Furlenco) Unlisted Shares on InCred Money is quick, seamless, and fully digital.
Step 1: Create Your Account
Sign up using your mobile number and email ID.
Complete your KYC by submitting your PAN, Aadhaar, bank account, and demat account details. Once submitted, your KYC is reviewed and approved.
Step 2: Select & Buy Shares
Browse and select House of Kieraya Ltd (Furlenco) from our Unlisted Shares list and place your order.
Step 3: Share Transfer
Based on the settlement period for the shares noted on the platform, the purchased shares are transferred and reflected in both your InCred Money portfolio and your demat account. - What documents are needed to invest in House of Kieraya Ltd (Furlenco) unlisted shares?
- To invest in House of Kieraya Ltd (Furlenco) Unlisted Shares on InCred Money, you need to complete your KYC verification by submitting the following documents:
● PAN Card
● Aadhaar Card
● Bank account details
● Demat account details
Once your KYC is successfully completed and approved, you can start investing in unlisted shares on the platform.
