Multibagger Penny Stock Under Rs 60: Company Redeemed 250 Unlisted, Secured, Redeemable, Partly Paid, Non-Convertible Debentures Series- RX2
The stock gave multibagger returns of over 180 per cent from its 52-week low of Rs 20.90 per share.
On Tuesday, shares of Cellecor Gadgets Limited jumped 7 per cent to Rs 59.15 per share from its previous closing of Rs 55.25 per share. The stock’s 52-week high is Rs 81.50 per share and its 52-week low is Rs 20.90 per share.
Cellecor Gadgets Limited has announced the full redemption of 250 Unlisted, Secured, Redeemable, Partly Paid, Non-Convertible Debentures Series – RX2, as per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has made the complete payment against these debentures, which had a face value of Rs 1,00,000 each, aggregating to a total of Rs 2.5 Crore under Charge ID 100788817.
Additionally, the company is upcoming meeting of its Board of Directors, scheduled for Wednesday, April 16, 2025, at their registered office in Delhi. The agenda for this crucial meeting includes several key items aimed at shaping the company's future direction. Primarily, the Board will review, approve, and officially record the audited financial results for the half-year and full financial year concluding on March 31, 2025, along with the accompanying Auditor's Report.
Furthermore, the directors will finalize a comprehensive business growth plan designed for the upcoming quarters. This strategic blueprint will encompass strategies for further expansion, an evaluation of market opportunities to leverage emerging trends, and a thorough analysis of the company's competitive standing within the industry. To facilitate this ambitious growth, the Board will also consider raising up to Rs 100 Crores through the issuance of securities via permissible channels, contingent upon necessary approvals.
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About the Company
Cellecor Gadgets Ltd, founded in 2010, is an Indian company that sells consumer electronics under its brand name. They focus on providing affordable options for various devices, including smart TVs, mobile phones, smart watches, earphones and various accessories. Cellecor outsources the manufacturing of these products and then distributes them through a network of over 900 distributors, 25,000 retailers and 1200 service centres across 28 Indian states, with a strong presence in Uttar Pradesh, West Bengal and Gujarat.
Results: According to half-yearly results, the net sales increased by 103 per cent to Rs 425.71 crore, Profit before tax (PBT) increased by 106 per cent to Rs 19.67 crore and net profit increased by 108.3 per cent to Rs 14.62 crore in H1FY25 compared to H1FY24. In its annual results (FY24), the company reported net sales of Rs 500.45 crore, PBT of Rs 20.71 crore and net profit of Rs 16.09 crore.
The company's shares have an ROE of 32 per cent and an ROCE of 30 per cent. As of October 2024, the promoters own 49.64 per cent of the company, FIIs own 2.92 per cent, DIIs own 1.54 per cent and the public owns 45.90 per cent. The stock gave multibagger returns of over 180 per cent from its 52-week low of Rs 20.90 per share.
Disclaimer: The article is for informational purposes only and not investment advice.