Multibagger Penny Stock Under Rs 70 Rallies After Expanding Market Reach, Through Partnership with Moglix
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 Thursday, shares of Cellecor Gadgets Limited gained 4.60 per cent to Rs 64.95 per share from its previous closing of Rs 62.10 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 leading force in India's consumer electronics landscape, has forged a strategic alliance with Moglix, a prominent player in Asia's B2B commerce arena. This collaboration aims to significantly expand Cellecor's market reach by leveraging Moglix's extensive B2B and B2C e-commerce network. Moglix, renowned for its innovative approach to supply chain management, offers a comprehensive suite of services, encompassing MRO procurement, packaging, supply chain financing, and cutting-edge digital procurement solutions. With an impressive clientele of over 1,000 enterprises, a global footprint spanning 120+ countries, and a robust presence across 40+ locations in India, Moglix ensures seamless access to high-quality products and services for a diverse customer base.
This partnership perfectly aligns with Cellecor's core mission: to deliver exceptional value and reliable consumer electronics to every household and business across India. By tapping into Moglix's expansive network and advanced digital commerce capabilities, Cellecor will gain access to a wider audience, encompassing large enterprises, small and medium-sized businesses, and individual consumers. Moglix's robust infrastructure provides Cellecor with the ideal platform to explore new markets and ensure greater accessibility for its innovative product portfolio.
Cellecor Gadgets Limited has earned a strong reputation in India's consumer electronics market, distinguished by its groundbreaking product lineup, competitive pricing, and unwavering commitment to reliability. With a strong emphasis on "Make in India," Cellecor continues to push the boundaries of innovation across various categories, including smart gadgets, electronics, and home & kitchen appliances, solidifying its position as a trusted household name. This partnership with Moglix marks a pivotal moment for Cellecor, enabling it to strengthen its presence in both B2B and B2C markets while redefining accessibility and innovation within the consumer electronics and commerce sectors.
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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.