Multibagger Penny Stock Under Rs 65 Hit Upper Circuit After Partnering With Dixon Technologies (India) Limited
The stock gave multibagger returns of over 300 per cent from its 52-week low of Rs 15.04 per share in just 1 year.
On Friday, shares of Cellecor Gadgets Limited hit 5 per cent upper circuit to Rs 64.25 per share from its previous closing of Rs 61.20 per share. The stock’s 52-week high is Rs 71.80 per share and its 52-week low is Rs 15.04 per share.
Cellecor Gadgets Limited, a prominent Indian consumer electronics brand, has entered into a strategic partnership with Dixon Electro Manufacturing Private Limited (DEMPL). This collaboration aims to significantly expand Cellecor's home appliance portfolio by introducing a premium line of refrigerators. DEMPL, a leading electronic manufacturing services provider, will leverage its state-of-the-art facilities and extensive expertise to manufacture these refrigerators. This partnership aligns with Cellecor's commitment to delivering high-quality, value-driven products that cater to the evolving needs of Indian consumers.
Dixon Technologies (India) Limited, a renowned name in the electronics manufacturing sector, boasts a diverse product portfolio encompassing consumer electronics, home appliances, lighting products, mobile phones, and more. Their commitment to high-quality standards, ethical business practices, and customer satisfaction makes them a preferred partner for numerous industry players. This collaboration will leverage Dixon's ISO-certified manufacturing plants, ensuring that Cellecor refrigerators meet stringent quality and durability standards.
This partnership represents a significant milestone in Cellecor's journey, strengthening its commitment to the 'Make in India' initiative. By collaborating with a leading Indian manufacturer, Cellecor aims to further enhance its product offerings, expand its presence in the home appliance market, and solidify its position as a trusted household name across the country. This strategic move will enable Cellecor to deliver world-class refrigerators specifically designed for the Indian market while empowering the brand to achieve its ambitious growth objectives.
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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 20.71 crore and net profit of Rs 16.09 crore.
stock split: The shares of the company ex-traded stock split in the ratio 10:1 i.e., sub-division of 1 equity share of the company having a face value of Rs 10 each into 10 equity shares of the company having a face value of Re 1. The record date for the stock split was Friday, August 09, 2024.
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 300 per cent from its 52-week low of Rs 15.04 per share in just 1 year.
Disclaimer: The article is for informational purposes only and not investment advice.