Cello World
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| Company type | Public |
|---|---|
| BSE: 544012 NSE: CELLO | |
| ISIN | INE0LMW01024 |
| Industry | Houseware |
| Founded | 1967[1] |
| Headquarters | Cello House, Corporate Avenue, B Wing, Sonawala Rd, Goregaon(East)400063[2], , India |
Area served |
|
Key people | [4] |
| Revenue | ₹2,000.26 crore (US$240 million)[5] (FY24) |
| Owners | Rathod family (78%)[6] |
| Website | celloworld.com |
Cello World Ltd is an Indian houseware company based in Mumbai.
History
[edit]The foundation of the company was laid in 1967, when Ghisulal Rathod, the late founder and chairman of the Cello group started a plastic industry with seven machines and sixty workers to manufacture plastic bangles and PVC footwear in Goregaon. In 1982, the group introduced plastic houseware products thereby officially entering the market. This was followed by setting up of thermo-ware product factory in 1986. Later the company ventured into manufacturing of plastic-moulded furniture in 1994.[7]The plastic furniture division is called Wim Plast Ltd.[8]
Start of writing division
[edit]In 1995,the company started offering pens with technology like Swiss tips and German ink. The firm went on to become the leader in manufacturing with 5 million pens per day and 37 per cent market share. In 2009, French stationary major BiC acquired 40% equity stake in the writing business of Cello for 790 crore ₹ or an overall valuation of 1975 crore ₹ (402.5 million $). The remaining stake was bought by the €2.5 billion company in 2015 and renamed to BIC Cello (India). Cello group later re-entered the industry under a new brand 'Unomax' in 2021.[9] The stationery products manufacturing facilities are located in Daman, Uttarakhand, Tamil Nadu and West Bengal.[10]
Recent activities
[edit]In 2017, the group launched their glassware products. They signed Amitabh Bachchan as the brand ambassador in October 2020.[11]
The company aims to capture 20% of the cookware market in India with new product launches which include kadai, casserole, frying pan etc. These will be available in all major retail outlets and leading e-commerce platforms.[12]
The company achieved a major milestone by entering the stock market in November 2023 and thus reaching billionaires club.[13]
Market valuation of Cello World was estimated at ₹16,806.58 crore, with brisk trading activity (13.31 lakh shares at BSE and over 1.79 crore shares at NSE). The Initial Public Offering saw notable demand, subscribing 38.90 times on the final day, with a price band of ₹617-648 per share.[14]
The thirteen manufacturing facilities of the company are spread across five locations in India. According to the company's DRHP report the installed annual capacity is 57.77 million units of consumer houseware products, 15,000 tonnes of opalware and glassware,650 million units of writing instruments and stationery products, and 12.80 million units of moulded furniture and allied products as of March 31, 2023.[15]
A subsidiary, Cello consumerware will build a glass manufacturing site in Rajasthan, and is expected to be operational by the end of Q1 FY25.[16] Cello World is expecting revenue contribution from soda lime glassware business on first half of FY25 even as the writing instruments division underwent a slowdown.[17]
Reception
[edit]In 2018,business magazine Insights Success featured Cello Wim Plast Limited on the list of 10 most admired plastic companies.[18]
Lawsuits and controversies
[edit]On April 26,2016 the Gujarat High Court set aside Gandhinagar District Court’s order preventing Cello's Wimplast Ltd from selling its air cooler models Tower-25, Tower-50, Wave and Marvel after Symphony filed a case against Wim Plast.[19]
In October 2023,a company called Shree Vallabh Metals had secured an injunction from Delhi High Court against the use of the Max Fresh trademark by Cello Plastic Industrial Works.[20]
References
[edit]- ^ "India's newest billionaire is casserole king Pradeep Rathod after Cello World's successful stock market debut". Economic Times. 11 November 2023. Retrieved 1 November 2024.
- ^ "CELLO INDUSTRIES PRIVATE LIMITED". Economic Times. Retrieved 1 November 2024.
- ^ Himanshu Nitnaware (2021). "How Cello Created a Rs 1,500 Cr Empire By Introducing Casseroles to Indian Kitchens". The Better India. Retrieved 31 October 2024.
- ^ "About us". Cello World. Retrieved 30 October 2024.
- ^ "Cello World Profit & Loss Annual". mint. 30 October 2024. Retrieved 30 October 2024.
- ^ "From kitchenware to billionaire status: Meet Pradeep Rathod, Chairman of Cello World; Know about his early life, education, and net worth". Financial Express. 4 December 2023. Retrieved 30 October 2024.
- ^ Tenzin Zompa (3 April 2021). Rachel John (ed.). "Cello — the plastics to steelware company that made owning a houseware business 'fashionable'". The Print. Retrieved 30 October 2024.
The launch of the company can be traced back to 1967, when Ghisulal Rathod, late founder and chairman of the Cello Group,...
- ^ Gaurav Sonavane (3 December 2023). "Here's all you need to know about Pradeep Rathod — the new entrant in India's billionaire club". GQ India. Retrieved 1 November 2024.
- ^ Arbind Gupta (25 January 2021). "Cello marches ahead". Business India. Retrieved 30 October 2024.
- ^ "Cello Group re-enters stationery business after five years". Economic Times. 25 January 2021. Retrieved 30 October 2024.
- ^ Rajiv Singh (30 March 2021). "Cello: Back after a lunch break". Forbes India. Retrieved 31 October 2024.
- ^ "Cello aims 20 pct market share in cookware category". ET Retail. 18 January 2021. Retrieved 31 October 2024.
- ^ "How Pradeep Rathod Turned Plastic Bangles Manufacturer Cello World Into A Rs 16,000-crore Company". News18. 19 March 2024. Retrieved 31 October 2024.
- ^ "Cello World's chairman Pradeep Rathod enters billionaire club after IPO success". Business Today. 12 November 2023. Retrieved 1 November 2024.
- ^ A Ksheerasagar (31 October 2023). "Cello World IPO: Should you subscribe to it? Here's what 5 of top brokerages say". mint. Retrieved 1 November 2024.
- ^ Greg Morris (10 April 2024). "Cello World plots glass tableware facility in India". Glass International. Retrieved 31 October 2024.
- ^ Ekta Batra; Sonal Bhutra (16 August 2024). "Cello World expects its soda lime glassware business to start revenue contribution from first half FY25". CNBC TV18. Retrieved 31 October 2024.
- ^ "The 10 most admired companies in plastic industry". slideshare. 3 September 2018. Retrieved 30 October 2024.
- ^ "Gujarat HC rules in favour of Wim Plast to sell air coolers". Business Standard. 27 April 2016. Retrieved 31 October 2024.
- ^ "Trademark dispute over tiffin box: Delhi HC takes notes of CELLO's intent to resolve suit amicably". ET Retail. 6 June 2024. Retrieved 31 October 2024.