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Motilal Oswal Report
Cello World Ltd. reported revenue growth of 6% YoY in Q1 FY25, led by consumerware (up 5% YoY; despite demand headwinds) and moulded furniture and allied product businesses (up 16% YoY; strong growth from coolers segment). The writing instruments business remained flat due to continued sluggishness in the overall demand scenario.
Ebitda grew by 8% YoY as Ebitda margin expanded by 60 basis points, aided by improved gross margin (up 120 bp YoY), which was led by a favorable product mix and continued focus on value-added premium products.
We maintain our FY25/FY26 earning per share estimates and retain our 'Buy' rating on the stock with a target price of Rs 1,070.
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