10:1 Stock Split: Multibagger Penny Stock Under Rs 60 In Focus As Company Announces Partnership With Dixon Technologies (India) Limited

The stock gave multibagger returns of 275 per cent from its 52-week low of Rs 15.04 per share in just 1 year.

Cellecor Gadgets Limited, one of India’s fastest-growing growing consumer electronics brands, announced its partnership with Dixon Technologies (India) Limited, a leading electronic manufacturing services (EMS) company in India. This collaboration aims to expand Cellecor's product lineup by manufacturing high-quality washing machines, further strengthening its presence in the home appliances segment.

Under this partnership, Dixon Technologies will manufacture a range of washing machines for Cellecor, leveraging its extensive expertise and state-of-the-art facilities. Dixon's manufacturing plants, certified with ISO 9001-2015, ISO 14001-2015, and ISO 45001:2018, will ensure that Cellecor’s washing machines meet the highest standards of quality and durability. This partnership aligns with Cellecor's vision of becoming a household name in India, delivering innovative, high-quality products at a competitive value.

Dixon Technologies (India) Limited is the largest homegrown design-focused and solutions company engaged in manufacturing products in the consumer durables, lighting and mobile phones markets in India. Their diversified product porƞolio includes (i) Consumer electronics like LED TVs; (ii) Home appliances like washing machines; (iii) Lighting products like LED bulbs and tube lights, down lighters; (iv) Mobile phones; and (v) Wearables (vi) Refrigerators. Dixon also provides solutions in reverse logistics i.e. repair and refurbishment services of LED TV panels. The company is renowned for its high-quality standards, ethical business practices and commitment, making it a preferred partner across various industry verticals.

Cellecor has rapidly expanded its footprint across India, establishing itself as a brand known for quality and affordability. This collaboration with Dixon Technologies aims to strengthen Cellecor's market position, reinforcing its reputation for quality and driving innovation. The partnership represents a significant growth milestone, underscoring Cellecor's commitment to the 'Make in India' initiative and its goal of delivering world-class washing machines that meet the needs and aspirations of Indian consumers.

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 September 2024, the promoters own 51.54 per cent of the company, FIIs own 0.02 per cent, DIIs own 2.14 per cent and the public owns 46.3 per cent. The stock gave multibagger returns of 275 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.