Cello World Limited — PPTs, 12-08-2025: Investor Presentation

**1. Financial Highlights:**

Cello's Q1 FY26 revenue rose 6% YoY to Rs. 529 Cr, achieving a record 54.0% gross margin. EBITDA margin dipped to 23.9% (vs 27.0% YoY) due to new glassware plant ramp-up costs. Consumer-ware showed strength; writing instruments and furniture were subdued.

**2. Strategic Initiatives & Growth Drivers:**

Key initiatives include enhancing omnichannel presence, product reach, and premiumization. Growth drivers involve capacity expansion, like the new Rajasthan glassware facility (~55% utilized), plus boosting distribution and marketing.

**3. Business Developments:**

The new glassware facility's commissioning is a pivotal development, reducing import reliance and uniquely positioning Cello as a domestic in-house glassware manufacturer.

**4. Market Position & Competitive Advantage:**

Cello holds a strong market position with a renowned brand, diverse portfolio, and extensive Pan-India distribution. Most of Q1 FY26 revenue came from its multiple in-house manufacturing units.

**5. Investor Implications:**

Management expects stabilization as the glass unit scales. A positive H2 FY26 outlook, driven by demand recovery, suggests positive growth potential; monitor initial facility costs.