Kurlon Enterprise Limited

Kurlon Enterprise Limited is an innovator and manufacturer of coir mattresses in India. It provides high-quality mattresses to a wide range of institutional clients such as Hotels, Hospitals, and Hostels, etc. Because of a strong reputation in the industry, its unlisted shares are popular in the market.

Kurl-on Enterprise Limited was incorporated on 3rd October 2011. Kurlon Enterprises Ltd. is a subsidiary of Kurl-on Ltd. The brand has 7000 multi-brand outlets, 1300 franchise outlets, and 102 exclusive brand outlets in India.

Kurl-on has acquired US-based luxury mattress brand Spring Air for Rs 70 crore. With this acquisition, Spring Air and Englander's brand of mattresses will now be under the Kurl-on umbrella. Spring Air is among the top 10 manufacturers of bedding products in the world specializing in orthopedic beds.

Kurl-On Enterprises Unlisted Shares

About the Company

  • Kurl-on Limited (KL), is the holding company, which promoted a subsidiary company in the name and style of Kurl-on Enterprise Ltd
  • (KEL). As on 31st March 2020, 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, Sofas 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.
  • Kurl-on Enterprise Limited (KEL) provides home furniture. The Company offers sofas, mattresses, pillows, bed sheets and other home
  • furnishing products.
  • Kurl-on Enterprise was incorporated in 2011 with its registered office in Mumbai.
  • Headquartered in Bengaluru, KEL is now the operating company with sales office across 70+ cities and 9 factories in India.

History & Evolution

  • 1962 – Company formed by Mr. T Ramesh Pai and Introduced Coir Husk in the Indian Market.
  • 1965 – First Rubberized Coir Mattress launched in India.
  • 1969 – Kurl-on bagged its first Railway Project.
  • 1972 – Mass Manufacturing of Car Seats for M&M, Hindustan Motors and introduced first Moulded Pillow In India.
  • 1988 – Initiated In-house production of Polyurethane Foam.
  • 2000 – Became ISO-9000 Certified Company.
  • 2002 – Entered the Retail Industry with “KURLON NEST”.
  • 2004 – Established 9 strategically located manufacturing facilities.
  • 2006 – Started manufacturing Spring Mattresses at Bangalore Plant.
  • 2010 – Started its first exclusive Franchise Outlet “KURLON MATTRESS XPRESS”.
  • 2016- Upgraded its product with cutting edge “KURLOPEDIC TECHNOLOGY”

Company Products

  • The Company brought in Austrian technology to extract fibre from the husk and curl it into ropes. Rather than restricting himself to mattresses the Company also developed an ancillary range of products such as cushions and furniture. In 2004, it ventured beyond providing just a better sleep experience and extended its product range into the home comfort segment. Here are few products launched by Kurl-on.
  • Range of Mattress: Rubberized Mattress, Spring Mattress, Foam Mattress and Therapeutic Mattress
  • Range of Pillows: Grazel Classic, Glacies Gel, Sound Sleep Music, Nebula, Sleepzz, Snow, Mist and Chimera
  • Range of Sofas: Juliet, Bounce Plus, Merlin, Magnet, Palette, Sauve, Montana, Remo
  • Range of Furniture: Discovery, Studry, Glen, Venus Wardrobe, Crystal, Sit N Fit, Crystal Wardrobe and Venus
  • Range of Cots: Curvy, Regal, Berlin, Liner, Venus, Sassy, Woodz and Sturdy

Industry Overview

  • India's overall mattress market has grown at a CAGR of above 11% over the last five year and is enroute to attain a US $2.5 billion marks by the year 2022.
  • The global mattress market size is expected to reach the US $43.2 billion by 2025, registering a CAGR of 6.7% over the forecast periods.
  • The growth in the mattress market is largely led by factors, such as increased income levels and infrastructural developments, in terms of the increased number of residential units and hotels in the country. Demand for construction in both residential and institutional is growing in India, with the rising awareness regarding mattress types and brands.

Financial Highlights

Profit After Tax

  • Profit after Tax for the FY19-20 increased by 11.67% to INR 8,369.43 Lakhs from INR 7,494.69 Lakhs as compared to the previous year.

Earning Per Share

  • The EPS of the Company has increased by 10.32% in the FY19-20 as compared to the EPS registered in FY18-19.


  • The Company declared a final dividend of INR 3.50 (i.e., 70%) {Previous year INR 3.00 (i.e., 60%)} per equity share on the equity shares of the Company for FY19-20.


  • On a consolidated basis Net Profit after Tax increased by 13.92% to INR 7,524.53 Lakhs in FY19-20 as compared to the Net Profit after Tax of INR 6,604.94 Lakhs registered in the previous year.
  • The Company offers a wide range of comfort solutions for Retail Consumers and a wide range of institutional clients such as Hotels, Hospitals, and Hostels who prefer high performance, high quality branded mattresses with flame retardant, anti-bacterial fabrics.
  • The company is the sole manufacturer of hospital approved mattress. KL markets its products under the flagship brand “Kurl-On”, with approximately 35% of the market share with a sale of over 1.2 Million mattresses a year.
  • The Company acquired 100% of the total paid-up Equity Share Capital of M/s Manipal Natural Extracts Private Limited became Wholly Owned Subsidiary (WOS) of the Company by virtue of its shareholding.
  • The Company acquired equity shares of M/s Spring Air Bedding Company (India) Ltd (“Spring Air”) constituting 15.67 % of the total paid-up Equity Share Capital of Spring Air.
  • The Company has additionally invested, in the securities of M/s Sirar Solar Energies Private Limited, Sirar Dhotre Solar Private Limited and M/s Sevalal Solar Private Limited. As a result of which the total holdings of the Company in each company as above, became 93.8% of the total paid-up capital of said Companies.

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