Cellecor Gadgets FY26 PAT Rises 28% to ₹39.61 Cr on ₹1,291.81 Cr Revenue
Cellecor Gadgets Limited reported FY26 audited standalone PAT of ₹39.61 crore, up 28% YoY, on revenue of ₹1,291.81 crore, a 26% rise. EBITDA grew 32% to ₹72 crore with improving margins. The Board approved allotment of 16,49,138 equity shares via FCCB conversion and appointed a new secretarial auditor, while the company expanded retail touchpoints to over 1 lakh and entered international markets.
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Cellecor Gadgets Limited reported audited standalone and consolidated financial results for the half year and financial year ended March 31, 2026, approved by the Board of Directors at their meeting held on May 14, 2026. The company posted a Profit After Tax (PAT) of ₹39.61 crore for FY26, reflecting a 28% year-on-year growth over ₹30.90 crore in FY25. Revenue from operations stood at ₹1,291.81 crore, marking a 26% increase from ₹1,025.95 crore in the previous year. The statutory auditor, M/s Ambani & Associates LLP, issued an unmodified opinion on the standalone audited financial results.
Financial Performance
The company's total income for FY26 reached ₹1,292.20 crore compared to ₹1,025.99 crore in FY25. EBITDA for FY26 stood at ₹72 crore, a 32% increase from ₹54 crore in the previous year, with the EBITDA margin improving to 5.54% from 5.29% in FY25. Net profit margin also improved slightly to 3.07% from 3.01% in the preceding year. The following table presents the key standalone financial metrics for FY26:
| Metric (₹ in Lakhs): | FY26 | FY25 |
|---|---|---|
| Income from Operations: | 1,29,181.12 | 1,02,594.58 |
| Other Income: | 38.86 | 4.54 |
| Total Income: | 1,29,219.98 | 1,02,599.12 |
| Employee Benefit Expenses: | 2,455.43 | 2,028.65 |
| Finance Costs: | 1,721.96 | 1,288.37 |
| Depreciation & Amortisation: | 98.40 | 85.51 |
| Profit Before Tax: | 5,333.69 | 4,143.03 |
| Total Tax Expenses: | 1,372.61 | 1,053.00 |
| Net Profit (PAT): | 3,961.08 | 3,090.03 |
| Basic EPS (₹): | 1.80 | 1.45 |
| Diluted EPS (₹): | 1.80 | 1.44 |
For the second half of FY26 (half year ended March 31, 2026), standalone income from operations was ₹65,032.44 lakhs, compared to ₹60,023.21 lakhs in the corresponding period of the previous year. Net profit for the half year ended March 31, 2026 stood at ₹2,007.89 lakhs versus ₹1,627.91 lakhs in the same period of FY25.
Balance Sheet Highlights
The standalone balance sheet as on March 31, 2026 reflects significant expansion in the company's asset base. Total assets grew to ₹46,780.30 lakhs from ₹33,549.36 lakhs as on March 31, 2025. Total shareholders' funds increased to ₹20,466.80 lakhs from ₹15,601.22 lakhs, driven by higher reserves and surplus of ₹18,260.02 lakhs. The key balance sheet items are summarised below:
| Parameter (₹ in Lakhs): | 31.03.2026 | 31.03.2025 |
|---|---|---|
| Share Capital: | 2,206.78 | 2,176.78 |
| Reserves and Surplus: | 18,260.02 | 13,122.94 |
| Total Shareholders' Fund: | 20,466.80 | 15,601.22 |
| Long-term Borrowings: | 4,210.15 | 18.70 |
| Short-term Borrowings: | 9,965.75 | 12,070.64 |
| Inventories: | 24,304.10 | 20,990.69 |
| Trade Receivables: | 10,717.89 | 4,091.01 |
| Cash and Cash Equivalents: | 3,084.70 | 2,175.87 |
| Total Assets: | 46,780.30 | 33,549.36 |
Net cash flows from operating activities for FY26 stood at ₹110.92 lakhs, a significant improvement from negative ₹3,273.39 lakhs in FY25. Cash and cash equivalents at the end of FY26 were ₹3,084.70 lakhs, up from ₹2,175.88 lakhs at the beginning of the period.
Corporate Actions
At the same Board meeting, the directors approved the allotment of 16,49,138 fully paid-up equity shares of face value ₹1/- each at a conversion price of ₹29/- per equity share, upon receipt of a notice for partial conversion of 2% Unsecured Foreign Currency Convertible Bonds (FCCBs) due 2031, against a principal value of USD 500,000. Consequent to this allotment, the paid-up equity share capital of the company stands increased to ₹22,23,26,938/-, divided into 22,23,26,938 fully paid-up equity shares of ₹1/- each. The outstanding principal value of FCCBs, as listed at Affrinex Exchange, stands reduced to USD 32,500,000.
The Board also appointed Ms. CS Divya Rani, Proprietor of M/s. Divya Rani & Associates, Practicing Company Secretary (COP No. 26426, Membership No. A64841), as the Secretarial Auditor of the company to conduct the Secretarial Audit for the financial year 2025-26. Additionally, the Board confirmed that no interim dividend has been recommended for the year ended March 31, 2026.
Operational Highlights and Strategic Expansion
Cellecor expanded its retail footprint significantly during the year, reaching over 1 lakh retail touchpoints across the Indian market. The company launched eight exclusive brand stores in key locations including Delhi, Bhopal, Mizoram, and Leh Ladakh, and inaugurated its South India Regional Office in Bengaluru to strengthen its presence across Karnataka, Tamil Nadu, Telangana, Andhra Pradesh, and Kerala. The company also expanded its product portfolio by entering new categories such as Air Fryers, Multi-Cook Kettles, Nutri Blenders, ACs, and Commercial Coolers, with strategic partnerships including a collaboration with Yash Fans for ceiling fans further diversifying its offerings.
In January 2026, Cellecor incorporated a Wholly Owned Subsidiary in the United Kingdom and a Step-Down Subsidiary in Africa, marking its entry into international markets. The Consolidated Financial Statements include the financials of Cellecor Gadgets Limited and its subsidiary Cellecor Gadgets Europe Limited, prepared in accordance with AS 21 and Section 129(3) of the Companies Act, 2013. The company has set a revenue target of approximately ₹1,800 crore to ₹2,000 crore for the upcoming financial year, with a projected PAT target of ₹60 crore to ₹70 crore in the Indian market, and plans to further strengthen its global presence through expansion into Africa, East Asia, and South Asian markets.
Historical Stock Returns for Cellecor Gadgets
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.01% | -6.81% | +3.93% | +31.84% | -4.73% | -60.35% |
How will Cellecor's significant increase in long-term borrowings (from ₹18.70 lakhs to ₹4,210.15 lakhs) and the outstanding USD 32.5 million in FCCBs impact its financial flexibility and debt servicing capacity as it pursues its ₹1,800-2,000 crore revenue target?
Given Cellecor's entry into competitive appliance categories like ACs and Air Fryers alongside established players, what pricing and distribution strategies will differentiate the brand and protect its thin net profit margin of ~3%?
With the newly incorporated subsidiaries in the UK and Africa, how quickly can Cellecor generate meaningful international revenue, and what currency and regulatory risks could affect its consolidated profitability?
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