Multibagger Stock Under Rs 60 Jumps On Redemption of Unlisted, Secured, Redeemable, Partly Paid, Non-Convertible Debentures
The stock gave multibagger returns of 285 per cent from its 52-week low of Rs 15.04 per share.
On Wednesday, shares of Cellecor Gadgets Limited jumped 2.4 per cent to Rs 57.85 per share from its previous closing of Rs 56.50 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 informed that the company has made full payment against the Unlisted, Secured, Redeemable, Partly Paid, Non-Convertible Debentures against Charge ID 100801566 for 600 quantity having a face value of Rs 1,00,000 aggregating to Rs 6 crore.
Additionally, Cellecor Gadgets Limited has strategically aligned with Zepto, India's leading quick commerce platform, to expedite the delivery of its consumer electronics, smart gadgets, and home appliances. This collaboration leverages Zepto's expansive network across 50+ cities and its commitment to 10-minute delivery, enabling Cellecor to offer unparalleled convenience and immediate access to its diverse product range. By tapping into Zepto's efficient infrastructure, Cellecor aims to enhance customer experience, solidify its market presence, and cater to the increasing demand for swift online shopping solutions in India.
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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.
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 285 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.