The shares of this consumer electronic brand gained 8 percent to a 52-week high price of Rs 201.95 a share after the company reported strong September quarter financial results.
At 2:45 p.m., Cellecor Gadgets Ltd shares were trading at Rs 199 per share, up Rs 11.85 or 6.33 percent on the National Stock Exchange from the previous close price. The company has a market capitalization of Rs 415 crore.
The company reported an 85 percent growth in sales year on year, from Rs 113 crore in the previous year’s second quarter, Q2FY23, to Rs 209 crore in Q2FY24. Net profit grew 108 percent within the same period, from Rs 3.37 crore to Rs 7.02 crore. According to the company’s exchange report.
The company’s stock has delivered a return of 119 percent from the listing price in the month of September. A shareholder’s investment of Rs. 1 lakh in the company would be worth Rs 2.19 lakhs in a month.
Cellecor Gadgets’ shares were listed on the NSE’s SME platform in September 2023, after the company received Rs 50.77 crore through the IPO process, selling its shares for Rs 92 each.
According to the recent shareholding pattern, the company promoters hold 51.54 percent of the company, Domestic institutional investors hold 6.05 percent and retail investors hold a 38 percent stake.
Cellucor Gadgets is engaged in the procurement, branding, and distribution of televisions, mobile phones, Smart Wearables, mobile accessories, smart watches, and neckbands. The company sells its products under its flagship brand, i.e., CELLECOR.
Written by Omkar Chitnis
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