Profit before tax increased 2.34% QoQ to Rs 117.58 crore in Q2 FY24.

During the quarter, EBITDA stood at Rs 120.3 crore and the EBITDA margin was at 24.6%.

66.9% of revenue in Q2 FY24 came from the consumer ware business. Writing instruments business earned 16.8% of revenue and 16.3% revenue came from moulded furniture and related products.

Pradeep Rathod, chairman & managing director, Cello World, said, “We are in the process of setting up a glassware manufacturing facility in Rajasthan, which is expected to have an installed annual capacity of 20,000 tonnes of glassware per annum. We will continue to make investments in efficiency and automation of our production processes to achieve greater efficiency in manufacturing our products, from design to commercial production.

We are planning to expand our sales and distribution network in states especially in markets where our entry has been in the recent past. In these markets, we intend to increase customer wallet share, as well as enter in arrangements with more distributors and continue to strengthen the Brand.”

Shares of Cello World debuted on the bourses on 6 November 2023. The scrip was listed at Rs 831, exhibiting a premium of 28.24% to the issue price of Rs 648.

Cello World is a prominent player in the consumerware market in India with presence in the consumer houseware, writing instruments and stationery, and moulded furniture and allied products and consumer glassware categories. It operates 13 manufacturing facilities across five locations in India and is currently establishing a glassware manufacturing facility in Rajasthan.

The scrip rose 0.92% to settle at Rs 781.20 on Friday, 24 November 2023. The domestic stock market is shut today (27 November 2023) on account of Gurunanak Jayanti.