After 4 Weeks of Listing Cellecor Gadgets Hits 52-Week-High As H1 PAT Climbs 108%

On Thursday, the shares of Cellecor Gadgets traded higher to hit a fresh 52-week-high today after the company declared amazing financial results for the half-year ended on September 30, 2023.

Its net profit climbed by 108% to Rs 7.02 crore in H1FY24 from Rs 3.36 Cr in H1FY23, while its net sales jumped by 85% to Rs 209.66 crore in H1FY24 from Rs 113.52 Cr in H1FY23. Annual statistics show that in FY23 compared to FY22, net sales climbed by 118% to Rs 264 crore, and net profit jumped by 300% to Rs 8 crore.

For the fiscal year that ended in March 2023, the firm had a net profit of Rs 7.97 crore, an enormous rise from Rs 2.14 crore the previous fiscal year. During the entire FY23, revenue from operations climbed to Rs 264.35 crore from Rs 121.3 crore in FY22.

Bollywood actor Varun Dhawan had recently been chosen by Cellecor as the brand ambassador for the newest range of Smart TVs. The company believes that this partnership, which came up after a few weeks of initial public offering (IPO), would completely transform the Smart TV industry in India.

On Thursday, September 28, the share price of Cellecor Gadgets debuted on NSE SME. The share price of Cellecor Gadgets was listed on a flat note at Rs 92 per share on NSE SME. September 15 was the start of Cellecor Gadgets Ltd's subscription period, which ended on September 20. The price range for each equity share, as disclosed by the SME, was between Rs 87 and Rs 92.

An initial public offering (IPO) of 55,18,800 equity shares, valued at Rs 50.77 crore, was made by Cellecor Gadgets. Each share has a face value of Rs 10. Prior to the IPO launch, the company raised Rs 14.46 crore from anchor investors.

With more than 1200 service centres across India, Cellecor provides services to 100 million customers. Cellecor offers in-house services for your smart TV and has more than 800 distribution channels and 1200 service centres all over India. The company promoted by Ravi Agarwal has 10 million content viewers and 100 million happy customers as per its official website.