Cello World Ltd - Stock Valuation and Financial Performance

The company was incorporated as ‘Cello World Private Limited’, as a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated July 25, 2018, issued by the Registrar of Companies, Central Registration Centre. Thereafter, the Registered Office of the company was changed from the State of Maharashtra to the Union Territory of Daman and Diu and a certificate of registration of the regional director order, for change of State dated April 8, 2020, was issued by the RoC. Subsequently, upon the conversion of the company into a public limited company, pursuant to a special resolution passed by its Shareholders on June 12, 2023, the name of the company was changed to ‘Cello World Limited’ and a fresh certificate of incorporation dated July 18, 2023 was issued by the RoC

While the company was incorporated only in 2018, its erstwhile promoter Late Ghisulal Dhanraj Rathod, father of two of its Promoters, Pradeep Ghisulal Rathod and Pankaj Ghisulal Rathod, was associated with Cello Plastic Industrial Works (CPIW) and the ‘Cello’ brand since 1962. Its Promoters (through their family) have since diversified its product range and brand portfolio over the last six decades. The six decades of experience of its Promoters (through their family) in the consumer products industry has enabled it to better understand the preferences and needs of consumers in India, diversify its product portfolio and grow its multi-channel distribution network. This has enabled it to curate an extensive product portfolio that caters to a diverse range of consumer requirements, and offers a broad range of contemporary products across different ranges, types of material and price point.

The company owns/leases and operates 13 manufacturing facilities across five locations in India, as of June 30, 2023, and it is currently establishing a glassware manufacturing facility in Rajasthan. Its manufacturing capabilities allow it to manufacture a diverse range of products in-house. The remaining products (consisting mainly of steel and glassware products) are manufactured by third party contract manufacturers who manufacture these products with its branding pursuant to arrangements with it. The scale at which the company manufactures its products, combined with its supply chain management enables it to derive the benefits of economies of scale across various aspects of its business model. Further, it maintains optimal inventory levels across its manufacturing facilities by implementing technology and utilising available market information. It also endeavors to maintain high quality standards and good manufacturing practices. It has a strong pan-India distribution network. From the distribution network established by CPIW for its thermoware household articles and plastic materials business, its Promoters.

Business area of the company

Cello's extensive product range reflects its dedication to enhancing the lives of every household. From drinkware, which includes an array of water bottles, flasks, tea sets, and coffee mugs, to dinnerware comprising opalware and stainless steel sets, the brand caters to various aspects of dining and culinary experiences. It provides a range of options, from glass and microwave-safe steel lunch boxes to plastic, opalware, and insulated lunch boxes, along with electric tiffins for convenient meals on the go.

Key awards

• The company’s brand ‘Cello’ was awarded as one of the most trusted brands of India in the year 2021, by Commerzify.

Major events and milestones

• 2020: Initiated scaling up of e-commerce business of the company by entering into marketplace supply agreements with e-commerce platforms.
• 2023: Investment by India Advantage Fund S5 I, India Advantage Fund S4 I, Tata Capital Growth Fund II and Dynamic India Fund S4 US I.