Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹803Cr
Rev Gr TTM
Revenue Growth TTM
73.30%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

CELLECOR
VS
| Quarter | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | | | 84.7 | 92.8 | 103.1 | 106.4 | 50.7 |
| 109 | 143 | 197 | 274 | 400 | 571 | 608 |
Operating Profit Operating ProfitCr |
| 4.4 | 5.2 | 6.0 | 5.8 | 5.9 | 4.8 | 5.3 |
Other Income Other IncomeCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Interest Expense Interest ExpenseCr | 0 | 1 | 3 | 4 | 5 | 7 | 7 |
Depreciation DepreciationCr | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| 5 | 7 | 10 | 12 | 20 | 22 | 27 |
| 1 | 2 | 3 | 3 | 5 | 6 | 7 |
|
Growth YoY PAT Growth YoY% | | | 108.3 | 93.0 | 108.3 | 79.5 | 33.6 |
| 3.0 | 3.1 | 3.4 | 3.1 | 3.4 | 2.7 | 3.0 |
| 0.0 | 0.0 | 0.5 | 0.5 | 0.7 | 0.8 | 0.9 |
| Financial Year | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | | 118.0 | 89.3 | 105.0 | 21.0 |
| 0 | 118 | 252 | 471 | 972 | 1,179 |
Operating Profit Operating ProfitCr |
| | 2.5 | 4.8 | 5.9 | 5.3 | 5.1 |
Other Income Other IncomeCr | 0 | 0 | 0 | 0 | 0 | 0 |
Interest Expense Interest ExpenseCr | 0 | 0 | 2 | 7 | 12 | 14 |
Depreciation DepreciationCr | 0 | 0 | 0 | 1 | 1 | 1 |
| 0 | 3 | 11 | 22 | 41 | 49 |
| 0 | 1 | 3 | 6 | 11 | 13 |
|
| | 8,924.8 | 278.0 | 99.4 | 92.0 | 15.9 |
| | 1.8 | 3.0 | 3.2 | 3.0 | 2.9 |
| -0.1 | 1.9 | 6.9 | 0.9 | 1.4 | 1.6 |
| Financial Year | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Equity Capital Equity CapitalCr | 0 | 0 | 0 | 21 | 22 |
| 0 | 2 | 14 | 69 | 131 |
Current Liabilities Current LiabilitiesCr | 0 | 21 | 51 | 95 | 179 |
Non Current Liabilities Non Current LiabilitiesCr | 0 | 1 | 6 | 0 | 0 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 0 | 24 | 69 | 184 | 316 |
Non Current Assets Non Current AssetsCr | 0 | 0 | 1 | 2 | 20 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 0 | -1 | -21 | -102 | -34 |
Investing Cash Flow Investing Cash FlowCr | 0 | 0 | -2 | -1 | -18 |
Financing Cash Flow Financing Cash FlowCr | 0 | 1 | 22 | 107 | 69 |
|
Free Cash Flow Free Cash FlowCr | 0 | -1 | -22 | -102 | -52 |
| 0.0 | -23.4 | -256.1 | -632.0 | -108.8 |
CFO To EBITDA CFO To EBITDA% | 0.0 | -16.6 | -164.7 | -343.9 | -62.0 |
| Financial Year | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 0 | 0 | 0 | 4,210 | 1,160 |
Price To Earnings Price To Earnings | 0.0 | 0.0 | 0.0 | 26.1 | 37.5 |
Price To Sales Price To Sales | | 0.0 | 0.0 | 8.4 | 1.1 |
Price To Book Price To Book | 0.0 | 0.0 | 0.0 | 4.7 | 7.6 |
| 4.1 | 0.1 | 1.6 | 144.7 | 23.2 |
Profitability Ratios Profitability Ratios |
| | 13.8 | 21.0 | 16.9 | 13.7 |
| | 2.5 | 4.8 | 5.9 | 5.3 |
| | 1.8 | 3.0 | 3.2 | 3.0 |
| -31.9 | 87.1 | 34.9 | 17.7 | 19.5 |
| -31.9 | 96.6 | 58.4 | 17.9 | 20.2 |
| -24.2 | 9.0 | 11.5 | 8.7 | 9.2 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
Cellecor Gadgets Limited, founded in 2012 as *Unity Communications* by **Mr. Ravi Agarwal**, has evolved into a rapidly growing Indian consumer electronics brand. Listed on the **NSE EMERGE** platform (Scrip Code: CELLECOR), the company has achieved over **100 million product sales** across India, with **₹1,025.95 crore in revenue for FY25** and a targeted **₹1,500+ crore in FY26**. Cellecor is transitioning from a low-profile market participant to a dominant household name through aggressive expansion, innovation, and strategic alignment with national initiatives like *Make in India* and *Atmanirbhar Bharat*.
---
### **Leadership & Structure**
- **Founders**: Ravi Agarwal (Managing Director & Promoter), Nikhil Agarwal (Co-founder & Whole-Time Director).
- **Workforce**: Over **400 professionals** with strategic hires in e-commerce, R&D, sales, and corporate leadership.
- **Key Executives**:
- Sanjeev Singh (National Business Head)
- Amir Sohail (Head of Products)
- Abhay Singh (Head of Corporate Sales)
- Nikhil Agarwal leads operations, manufacturing, and expansion, championing an **asset-light, operationally agile model**.
---
### **Business Model & Strategy**
Cellecor operates on an **asset-light, outsourced manufacturing model**, partnering with leading Indian OEMs to ensure quality, scalability, and fast time-to-market. The company emphasizes **'Make in India'**, backward integration, and local innovation to deliver affordable, high-quality electronics.
#### **Core Strategic Pillars (FY25-26):**
1. **Revenue Diversification**: Expanding into **B2B, institutional, and corporate gifting** to generate stable, non-seasonal revenue.
2. **Omnichannel Expansion**: Strengthening **D2C, retail, e-commerce, quick-commerce, and enterprise sales**.
3. **Product Portfolio Growth**: Diversifying into high-growth, high-margin categories like **home appliances, smart TVs, wearables, and AI-enabled devices**.
4. **Technology & R&D**: Investing in **AI, IoT, semiconductor development**, and smart components through global partnerships.
5. **Brand Building**: Aggressive marketing campaigns and **celebrity endorsements** to enhance recognition and emotional connect.
---
### **Product Portfolio**
Cellecor offers **600+ SKUs** across five key categories:
1. **Consumer Electronics**:
- QLED & 4K Smart TVs (24" to 98"), including a premium **Evoke brand** line.
- Smartphones (5G-enabled), Laptops (Intel-powered for students & professionals).
- Audio Devices: TWS earbuds, neckbands, soundbars (Ultra Bar, Tune Bar), and **Party Box/Boom/Thunder Bluetooth speakers**.
2. **Smart Gadgets**:
- Smartwatches with HD displays, health tracking, and long battery life.
3. **Home & Kitchen Appliances**:
- **Refrigerators, washing machines (fully automatic), air conditioners (1-1.8 ton), geysers, coolers, fans, water dispensers, induction cooktops, air fryers, OTG ovens, juicer-mixer grinders, rice cookers**.
4. **Mobile Accessories**:
- Chargers, cables, power banks, adapters.
5. **Institutional Offerings**:
- Corporate bundles, employee welfare solutions, procurement-ready tech kits.
---
### **Distribution & Retail Network**
Cellecor operates one of the most extensive distribution networks in India:
- **Retail Touchpoints**: **70,000+** (target: **80,000**) across 28 states and 8 Union Territories.
- **Distributors**: **1,800+** (target: **2,500**) with a focus on Tier II, III, and rural (Bharat 2.0) markets.
- **Exclusive Brand Stores**: **8 stores** (Delhi, Bhopal, Mizoram, Leh-Ladakh, Andaman & Nicobar, Barnala, Nanded, Sasaram) serving as **immersive experience hubs**.
- **Organized Retail Partnerships**:
- Sathya Mobiles, Sangeetha Mobiles, OSIA Hyper Retail, Poojara Telecom, PhoneWale, Umiya Mobile, Ramdev Mobiles, LOT Mobiles, Poorvika Mobiles, BIG C Mobiles, PAI International, Sonovision, B New Mobiles, Rockingdeals, and Happi Mobiles.
- **Regional Focus**: Strong expansion in **South India**, with partnerships projected to generate **₹750 crore annually**.
---
### **E-Commerce & Digital Channels**
Cellecor is present on **15+ major platforms**, including:
- **Core Platforms**: Amazon, Flipkart, Myntra, Ajio, JioMart, eBay.
- **Quick-Commerce**: Zepto, Blinkit, Swiggy Instamart, Dunzo, BigBasket, JioMart Express.
- **Emerging/Niche**: ONDC, Cred, Pop, GlowRoad, Solv, Tata Neu (in exploration), Paytm Mall, Snapdeal.
- **D2C**: Official website with **digital warranty services, doorstep installation, and nationwide delivery**.
---
### **Manufacturing & R&D Partnerships**
Aligned with *Make in India*, Cellecor partners with Indian manufacturers for quality, speed, and scalability:
- **Key OEMs**:
- Dixon Technologies (washing machines, refrigerators, smartphones)
- PG Electroplast (ACs, coolers, power accessories)
- Winsharp Electronics (Smart TVs via Zetwerk)
- EPACK Durable (air conditioners)
- Noble Moulders, Light Flame, RG Industries, Veeline Industries, Mekr Technologies, Suman Enterprises
#### **New Manufacturing Initiative (Apr 2025):**
- **Joint venture with Shenzhen H&T Intelligent Control & Jia Zha Geye Technology** to build a **state-of-the-art facility in India** for:
- Intelligent control systems
- Sensor modules
- Semiconductor chips
- AI-powered smart components
- The plant will serve **India and global markets** (Asia, Africa, Europe, Americas) with integrated R&D and smart factory technologies (IoT, AI, automation).
---
### **Supply Chain & Logistics**
- **Logistics Partners**: DTDC, TCI Express, GATI, Porter, Om Logistics, Express Roadways, XP India, Aeropict Logistics, ST Courier.
- **Warehouses**: 11 strategic hubs enabling nationwide inventory control and fast distribution.
- **Last-Mile Coverage**: Ensures rapid delivery across urban, semi-urban, and rural markets.
---
### **After-Sales Service & Customer Support**
- **Service Network**: **2,000+ service centers** across India.
- **Home Service**: Coverage in **25,000+ pin codes**.
- **Partnership**: Jeeves Consumer Services (Flipkart subsidiary) for **installation, repair, and end-to-end lifecycle management** across 1,000+ cities.
- **In-House Technical Repair Center (TRC)**: Reduced repair turnaround from 10–12 days to **7 days**.
- **100% spare part availability**.
- **Dedicated App**: Enables **warranty registration, service tracking, live support, and troubleshooting**.
---
### **Marketing & Branding**
- **Brand Ambassador**: **Kareena Kapoor Khan** for Smart TV line (Oct 2024).
- **Celebrity Campaigns**: Shakti Kapoor, Rajpal Yadav, Gulshan Grover (festive campaign: *Ab Happiness Banegi Aur Bhi Affordable*).
- **Digital & Mass Media**: Increased marketing spend for **brand visibility**, supported by affiliate marketing, rewards, and fintech integrations.
- **Digital Partnerships**: Airtel Payments Bank, PhonePe, Google Pay, CRED, GrabOn, Wanderon, Pop, Truecaller, Shoogloo.
- **E-Commerce & Affiliate Ecosystem**: Pop, Swopstore, Admitad, Global Reward Solutions.
---
### **B2B & Corporate Expansion**
- **Target Sectors**: FMCG, IT, Manufacturing, Pharma, BFSI, Automobiles, BPO/KPO, Government.
- **Procurement Platforms**: Amazon Business, Industry Buying, Tradelndia, Moglix.
- **Government Presence**: Registered on **GeM portal** for public sector tenders.
- **Offerings**:
- Corporate gifting solutions
- Employee welfare tech kits
- Customized product bundles (e.g., for Zomato delivery partners)
---
### **Fintech & Payment Integration**
- Partnerships with **Bajaj Finserv, HomeCredit, TVS Credit, Pine Labs, PhonePe** for:
- Buy Now, Pay Later (BNPL)
- No-cost EMIs
- Instant digital financing
- Enhances **affordability, conversion rates, and purchase accessibility**.