Cellecor Gadgets FY24 Results: PAT Jumps 99% To Rs 16.09 Cr; Target Revenue Met At Rs. 501 Cr

Cellecor Gadgets has released its FY24 financial results. The company's total revenue jumped by 89.33% to Rs 500.52 crore in FY24 from Rs 264.35 crore in FY23. The organisation has set a target for revenue of Rs. 1000 crore. The company's EBITDA jumped by 135.93% to Rs 29.65 crore from Rs 12.57 crore in FY23. According to Cellecor Gadgets, its net profit increased by 99.39% to Rs 16.09 crore in FY24 from Rs 8.07 crore in FY23.

The company's net revenue stood at Rs 290.80 Crore H2FY24 which was Rs 150.83 Crore in H2FY23 representing a growth of 92.81%. Its EBITDA stood at Rs 16.91 Crore in H2FY24 v/s Rs 7.91 Crore in H2FY23 representing a growth of 113.69%. Cellecor Gadgets said in H2FY24 its net profit reached Rs 9.07 Crore which was Rs 4.70 Crore in H2FY23, representing a growth of 92.96%.

Mr. Ravi Agarwal, Managing Director of the Company said "We are happy to announce our financial results for the H2-FY24 and FY24 which are remarkable in all aspects. Setting us apart from competitors, and validate the company's strategy to focus on affordability and ensure readily ability of its products for wide range of consumer segments. We have expended our product basket which helped us a lot in gaining the necessary momentum to achieve a turnover of Rs. 500 Crores, and this is just the start of our journey, wherein we aim to further diversify our product offerings by introducing additional TWS, wearables, home appliances, sound bars, and Smart TVs to both its affordable and high-end product categories."

Mr. Nikhil Aggarwal, Whole-Time Director said, "The Company has accomplished yet another quarter of remarkable performance, showcasing robust growth momentum, and outstanding success in acquiring new contracts.

Additionally, our initiatives to broaden our distribution network have led to a rise in sales volume, enabling us to offer our products to a broader customer base".

"Cellecor has been portraying a bright future and is diligent in moving just upwards, very soon we will be introducing LFR, will increase distribution network, focusing on corporate sales, introducing a new product range, and diversifying its present product range." He further added.

"The company has achieved another year of impressive performance, demonstrating strong growth momentum, and exceptional success in securing new contracts. Furthermore, our efforts to expand our distribution network have resulted in increased sales volume, allowing us to make our products accessible to a wider range of customers. Our primary focus remains on fulfilling our stated objectives, supported by a promising pipeline of opportunities," added Nikhil Aggarwal.

"We are delighted to present to you our impressive financial and business outcomes. This financial year's exceptional performance can be attributed to the substantial increase in sales volume and the significant growth in the percentage of value-added products. Cellecor remains committed to investing in key areas that are crucial for driving future growth, while also intensifying our efforts to seize emerging opportunities and deliver enhanced value to our esteemed customers, added Ravi Agarwal.

One of the top brands in the consumer electronics sector is Cellecor Gadgets Ltd. Mobile phones, smart TVs, speakers, neckbands, TWS, soundbars, smartwatches, washing machines, and many more devices are among the many different products that Cellecor sells.