Multibagger Penny Stock Under Rs 60 in Focus as Company Announces Major Retail Network Expansion Across South India And Gujarat
The stock gave multibagger returns of 284 per cent from its 52-week low of Rs 15.04 per share in just 1 year.
Cellecor Gadgets Ltd, a prominent player in the Indian consumer electronics market, has announced strategic partnerships with major retail chains in South India and Gujarat. This expansion aims to increase the brand's accessibility and reach a wider customer base.
In Telangana and Andhra Pradesh, Cellecor has joined forces with Sangeetha Mobiles and Cellbay Mobiles. These collaborations will allow customers to conveniently purchase Cellecor's products, including Smart TVs, Smart Gadgets, Mobile Phones, and Home Appliances.
Sangeetha Mobiles, with its extensive network of over 800 stores, provides a trusted platform for Cellecor to showcase its products. Customers can benefit from Sangeetha's seamless in-store experience and access to the latest technology. Cellbay Mobiles, known for its rapid growth, offers another avenue for Cellecor to reach consumers in Telangana. With over 50 stores, Cellbay provides a convenient and reliable shopping environment.
Cellecor is also making significant strides in Gujarat through partnerships with Poojara Telecom, PhoneWale, Umiya Mobile, and Ramdev Mobiles. These alliances will strengthen Cellecor's presence throughout the state, ensuring that customers in key cities and towns can easily access its diverse product range.
PhoneWale, with its 500+ stores, offers a comprehensive range of electronics and a customer-centric approach. Poojara Telecom specializes in mobile devices, smart gadgets, and accessories, providing customers with a wide selection of options. Umiya Mobile is renowned for its excellent customer service and competitive pricing, making Cellecor products more accessible to the masses. Ramdev Mobiles offers a wide range of products, including smartphones, accessories, and home appliances, further enhancing Cellecor's presence in the region.
Through these strategic partnerships, Cellecor is poised for significant growth in both South India and Gujarat. The company anticipates its business in the Gujarat region to surpass 100 crores within the next 12 months. Cellecor's focus on expanding its retail footprint and providing a seamless shopping experience aligns with its customer-first approach.
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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 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 284 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.
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