249 per cent multibagger returns from its 52-week low of Rs 88.15; Board likely to announces stock split!

The shares of the company have an ROE of 117 per cent and an ROCE of 84 per cent.

Cellecor Gadgets Ltd informed that the meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, June 26, 2024, at the Registered office of the Company situated at Sector 10 Rohini, Rithala, North West Delhi, Delhi-110085, inter-alia, to consider and approve the following businesses:

1. The proposal for sub-division/split of equity shares of the company having a face value of Rs 10 each in such manner as the board may determine, subject to the approval of shareholders of the company.
2. The alteration of the capital clause of the Memorandum of Association of the Company consequent to the sub-division of the face value of the equity shares, subject to the approval of shareholders of the company
3. To seek members’ approval wherever applicable through passing the requisite resolution(s) for the above-said board decisions and other matters connected therewith and/or incidental thereto.
4. To consider any other matter with the permission of the Chair as the Board may think fit or which is incidental and ancillary to the business of the company.

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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 a wide range of devices including smart TVs, mobile phones, smartwatches, 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.

Today, shares of Cellecor Gadgets Limited gained 4.73 per cent to Rs 308 per share from its previous closing of Rs 294.10. The stock gave multibagger returns of 249 per cent from its 52-week low of Rs 88.15 per share. A small and medium enterprise (SME) stock is being traded in a lot of 1,200 shares. At a price of Rs 308 per share, the total cost of this lot is Rs 3,69.600.

Cellecor Gadgets Limited reported strong financial performance in FY24 compared to FY23. The company's total revenue nearly doubled, reaching Rs 500.52 crore from Rs 264.35 crore, reflecting a significant increase of 89.33 per cent. This growth was mirrored in profitability. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) rose even more sharply, jumping 135.93 per cent to Rs 29.65 crore from Rs 12.57 crore. Similarly, Profit After Tax (PAT) witnessed a substantial increase of 99.39 per cent, reaching Rs 16.09 crore compared to Rs 8.07 crore in the previous fiscal year. These figures paint a picture of a company experiencing remarkable financial growth.

Looking specifically at the second half of FY24 (H2FY24), the positive trend continued. Total revenue for H2FY24 was Rs 290.80 crore, a significant increase of 92.81 per cent compared to Rs 150.83 crore in the corresponding period of the previous year. EBITDA and PAT followed suit, with increases of 113.69 per cent and 92.96 per cent respectively. This strong performance in the latter half of the fiscal year suggests that Cellecor Gadgets Limited is maintaining its momentum and is well-positioned for continued success.

The shares of the company have an ROE of 117 per cent and an ROCE of 84 per cent. As of March 2024, the promoters of the company own a 51.54 per cent stake, FIIs own 0.77 per cent, DIIs own 3.91 per cent and the rest 43.78 per cent is owned by the public.

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