Cello World is a leading Indian consumer product company mainly dealing in writing instruments and stationery, molded furniture, consumer housewares, and related products. They are a leading company in the consumerware market in India with presence in the consumer houseware, writing instruments and stationery, and moulded furniture and allied products categories and are amongst the largest brands in the Indian consumerware market.
The company was incorporated as "Cello World Private Limited" on July 25, 2018, and later converted to a public limited company with the name "Cello World Limited" on July 18, 2023. The company's roots trace back to 1962 when the late Ghisulal Dhanraj Rathod, father of current promoters Pradeep Ghisulal Rathod and Pankaj Ghisulal Rathod, established the association with the "Cello" brand. These promoters have diversified the product range and brand portfolio over the last six decades.
As of March 31, 2023, the company offered 15,841 SKUs across its three product categories, namely Consumer Houseware, Writing Instruments and Stationery, and Moulded Furniture and Allied Products. Cello World operates in the consumer houseware, writing instruments and stationery, moulded furniture and allied products, and consumer glassware categories.
The company has strategically expanded its product offerings over the years. The company launched glassware and opalware business in 2017 under the Cello brand and launched writing instruments and stationery product category in 2019 under the Unomax brand. It also launched cleaning aids business in 2017 under the Kleeno sub-brand under the Cello brand.
Cello World operates 13 manufacturing facilities across five locations in India and is currently establishing a glassware manufacturing facility in Rajasthan. The company has commissioned a state-of-the-art glassware manufacturing facility in Falna, Rajasthan, which has initiated trial runs with commercial production set to follow. With this expansion, Cello becomes the only domestic consumer products company with a presence across all material types to have an in-house glassware capacity in India.
Cello World Ltd has a market capitalization of ₹12,854 Crore as of June 2025. The PE and PB ratio of Cello World stands at 39.60 and 6.20 respectively as of July 03, 2025.
The company reported revenue growth of 6.1% YoY with gross profit margins improving from 52.6% in Q1 FY24 to 53.8% in Q1 FY25, attributed to a shift in revenue mix alongside focus on value-added premium products and operational efficiency improvements. On a consolidated basis, Cello World reported a profit of ₹96.15 Crore on a total income of ₹601.82 Crore for the quarter ended March 2025.
For the year ended 2024, Cello World had posted a profit of ₹356.18 Crore on a total income of ₹2,000.26 Crore. The revenues of Cello World stood at ₹20,253 million in FY24, up 11.7% compared to FY23. The company's revenue has grown from ₹10,596 million in FY21 to ₹20,253 million in FY24, representing a CAGR of 24.1% over the past 4 years.
- The EPS of Cello World is 4.03 for the quarter ended March 2025 and 15.50 for the financial year 2024-25.
- Stock P/E: 40.5, Book Value: ₹98.1, Dividend Yield: 0.24%, ROCE: 23.7%, ROE: 20.4%.
- The company is almost debt-free with a good return on equity (ROE) track record of 35.7% over 3 years.
In H1 FY25, the company delivered steady performance with consistent revenue growth despite headwinds on export demand, particularly for writing instruments. The consumerware business grew by 5% and moulded furniture business grew by 7% year-on-year, while the writing instruments business declined by 8% mainly due to lower exports.
Given the solid off-take in the early part of Q3 due to robust festive season demand, the company remains confident in achieving mid-teen growth for FY25.
The Cello World Ltd's 52-week high share price is ₹1,024.50 and 52-week low share price is ₹485.20. Over the last 12 months, Cello World Ltd share price moved down by 34.79% on BSE.
Promoter holding in Cello World Ltd stands at 75.00% as of March 2025. This high promoter holding reflects strong management confidence in the company's future prospects.
The company is focused on premiumization trends and operational excellence. Management emphasizes outperforming industry growth and continuously improving market position in the consumer market while remaining confident in the business's growth potential and diverse portfolio, which benefits from the trend of premiumization.
Looking ahead to FY25, the company maintains growth expectations of 15%–17%, driven by anticipated improvement in overall demand scenarios in the second half of the year.
The company's strategic positioning across multiple consumer product categories, strong manufacturing capabilities, extensive distribution network, and focus on innovation make it well-positioned to capitalize on India's growing consumer market demand.
