Cello World Ltd

NSE: CELLO BSE: 544012

Cello World is a leading Indian consumer product company mainly dealing in writing instruments and stationery, molded furniture, consumer housewares, and related products. [1]

₹387

52W: ₹383 — ₹674

PE 105 · Book ₹67.8 · +471% vs book

Market Cap₹8,544 Cr

Stock P/E105Price to Earnings

ROCE10.2%Return on Capital

ROE8.01%Return on Equity

Div. Yield0.38%Face Value ₹5

Strengths

+Company has reduced debt.
+Company is almost debt free.
+Company has delivered good profit growth of 18.8% CAGR over last 5 years
+Company has been maintaining a healthy dividend payout of 28.3%

Weaknesses

−Company has a low return on equity of 11.1% over last 3 years.
−Earnings include an other income of Rs.44.4 Cr.

Shareholding Pattern

Promoters75%

FIIs5.52%

DIIs12.73%

Public6.74%

Category	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	78.06%	75%▼3.1	75%	75%	75%	75%	75%	75%
FIIs	5.88%	7.7%▲1.8	7.47%▼0.2	6.51%▼1.0	5.38%▼1.1	5.55%▲0.2	5.41%▼0.1	5.52%▲0.1
DIIs	12.08%	13.57%▲1.5	13.54%▼0.0	13.8%▲0.3	14.62%▲0.8	14.03%▼0.6	13.37%▼0.7	12.73%▼0.6
Public	3.98%	3.73%▼0.3	3.97%▲0.2	4.69%▲0.7	4.99%▲0.3	5.41%▲0.4	6.22%▲0.8	6.74%▲0.5

Financial Statements

Metric	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	245.14	263.96	260.77	259.95	249.83	291.34	311.49	281.93	275.62	253.72
Expenses	225.65	241.33	237.77	234.78	232.49	258.91	275.46	269.57	262.21	250.01
Operating Profit	19.49	22.63	23	25.17	17.34	32.43	36.03	12.36	13.41	3.71
OPM %	7.95%	8.57%	8.82%	9.68%	6.94%	11.13%	11.57%	4.38%	4.87%	1.46%
Net Profit	17.7	14.74	18.62	16.76	23.01	26.61	32.01	16.04	23.47	8.55
EPS ₹	0.91	0.69	0.88	0.79	1.04	1.2	1.45	0.73	1.06	0.39

AI Insights

Revenue Trend

TTM revenue at ₹1,123Cr, up 0.9% YoY. OPM at 6%.

Debt Position

Borrowings at ₹5Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Capex Cycle

CWIP at ₹5Cr (45% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 12.73% (-0.02pp change). FIIs: 5.52% (+2.50pp change). Promoters hold 75%.

Margin & Efficiency

ROCE improving from 0% (Mar 2019) to 10% (Mar 2025). Working capital days: 183.

Valuation

PE 105x with 10.2% ROCE. Price is 471% above book value of ₹67.8. Dividend yield: 0.38%.