Penny Stock Under Rs 65 In Green After Expanding its Retail Presence with Exclusive Stores in Bihar and Maharashtra

The stock gave multibagger returns of over 300 per cent from its 52-week low of Rs 15.04 per share.

On Wednesday, shares of Cellecor Gadgets Limited gained 4.65 per cent to Rs 64.20 per share from its previous closing of Rs 61.35 per share. The stock’s 52-week high is Rs 81.50 per share and its 52-week low is Rs 15.04 per share.

Cellecor Gadgets Limited, one of India’s fastest-growing consumer electronics brands, has announced the launch of its first exclusive stores in Bihar and Maharashtra. Located in Sasaram and Nanded respectively, these new outlets mark a significant step in Cellecor's strategy to expand its reach and make advanced technology more accessible to consumers across the country. This expansion brings the total number of Cellecor exclusive stores to seven, building on previous successful launches in locations like Bhopal, the Andaman and Nicobar Islands, Leh Ladakh, Delhi, and Mizoram.

These dedicated stores are designed to offer an immersive shopping experience, showcasing Cellecor’s diverse portfolio of smart gadgets, electronics, and home & kitchen appliances. The Sasaram store represents a strategic move into the burgeoning Bihar market, which currently accounts for approximately 3% of the national appliance market, estimated at USD 2.33 billion. With Bihar's projected population growth, the demand for quality consumer electronics is expected to rise, making this a key market for Cellecor. Similarly, the Nanded store in Maharashtra targets a crucial hub within a state that holds a substantial share of the national appliance market, estimated at USD 5.8 billion.

The expansion of Cellecor’s exclusive store network plays a vital role in strengthening brand visibility and customer engagement. These outlets provide customers with the opportunity to experience Cellecor products firsthand, receive expert advice, and benefit from seamless after-sales support. By establishing a direct connection with consumers through these dedicated retail spaces, Cellecor aims to build trust and deliver a superior shopping experience. This strategic growth, combined with a strong presence in retail chains and a rapidly expanding distribution network, underscores Cellecor's commitment to providing high-quality, innovative products under one roof.

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.

Disclaimer: The article is for informational purposes only and not investment advice.