India · Delayed Price · Currency is INR Cello World Earnings Call Transcripts
Fiscal Year 2027
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Revenue for Q1 FY 2027 was INR 527 crore with strong margins, despite muted consumerware performance due to steel bottle supply issues and subdued demand. Writing Instruments grew 52% year-on-year, and e-commerce sales rose to 16.3% of revenue. Management expects gradual recovery as strategic initiatives take effect.
Fiscal Year 2026
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FY 2026 saw 8.8% revenue growth and 22.7% EBITDA margin, with Q4 delivering record revenue despite margin pressures from raw material costs and subdued demand. FY 2027 targets 10%-12% revenue growth, margin improvement, and full ramp-up of steel bottle and writing instruments segments.
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Q3 FY26 saw revenue of INR 553.7 crore and EBITDA margin of 22.1%, impacted by steelware supply issues and a one-time gratuity provision. Growth is expected to normalize as steelware ramps up and glassware utilization improves, with writing instruments and glassware as key drivers.
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Q2 FY26 saw 20% revenue growth and strong festive demand, with consumer wear and writing instruments leading segment gains. The reacquisition of the Cello brand is expected to boost growth, while margin improvement is anticipated as new plants ramp up and supply constraints ease.
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Q1 FY26 revenue rose 6% year-over-year to INR 529 crore, led by consumerware growth, but margins declined due to cost pressures and weak demand in writing instruments. Full-year guidance is 12%-15% revenue growth and 23% EBITDA margin, with festive season and new products expected to drive recovery.
Fiscal Year 2025
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Q4 FY25 saw record revenue of INR 589 crore, up 15% year-over-year, with stable margins and strong growth in consumer wear. FY25 revenue rose 7%, and the company is guiding for 12%-15% growth in FY26, with continued portfolio rationalization and a net cash position.
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Revenue grew 6% YoY in Q3 FY25 with stable margins, but demand softened later in the quarter. Guidance for FY26 is 12%-14% revenue growth, with EBITDA margin expected around 24%-25% due to glassware plant ramp-up. Working capital and channel inventory improved.
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Revenue and profit were flat year-over-year in Q2 FY25, with strong consumer wear growth offset by declines in writing instruments and furniture due to export challenges. The new glassware facility is expected to drive growth in H2, and management remains optimistic about improved demand and margins.
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Revenue grew 6.1% YoY in Q1 FY25 with improved gross margins, led by Consumerware and Molded Furniture, while Writing Instruments remained flat. Management expects stronger H2 performance, maintaining 15%-17% annual growth guidance, with new glassware capacity set to boost revenue.