Downgrades

CELLO has been witnessing muted performance for the last few quarters due to a weak demand scenario amid a consumption slowdown.

Consumerware revenue (69.1% of total revenue) reported soft growth due to early onset of rains, which affected hydration category, while glassware products grew 50%. Writing Instruments faced weak demand in both export and domestic markets, though the company expects demand improvement in FY26 driven by new launches, higher advertising spends to drive market share...

Consumerware revenue (68.7% of total revenue) reported strong growth driven by improved performance in in-house manufactured glass drinkware products, supported by a focus on cost efficiency. Opalware products also performed well during the period. Writing Instruments revenue declined due to reduction in exports, while domestic sales remained flat. CELLO expects revenue momentum to get better with increased capacity utilization at its...

Cello World (CELLO) reported ~15% revenue growth in 4QFY25, driven by improved consumer demand with the onset of early summer and the accelerated growth in quick- and e-commerce segments.

CELLO reported ~5% revenue growth in 3QFY25, driven by festive demand in the first half of the quarter. However, this was offset by a slowdown in consumption and discretionary spending later in the quarter.

Cello World Ltd (CELLO) has achieved significant success within the writing instrument segment (accounted for ~17% of its consolidated revenue in FY24) following its re-entry into the space in CY19.

CELLO reported revenue growth of 6% YoY in 1QFY25, led by consumerware (up 5% YoY; despite demand headwinds) and moulded furniture & allied product businesses.

Cello reported modest revenue growth of 6.1% YoY (in-line with industry’s growth rate) amid weak consumer demand. Gross margin scaled up to 53.8%.

CELLO reported revenue growth of 5%/11% YoY in 4Q/FY24, led by
volume growth of ~8%/15%. EBITDA grew by 20% YoY in 4Q/FY24 as
margin expanded by 330bp/180bp, aided by lower raw material costs and
a better product mix.

Borosil Glass Works Ltd. (BGWL) has informed the exchanges regarding a change in its restructuring scheme.