Analysts believe the premium listing is justified on the back of reasonable IPO valuations, following a strong product demand, financial track record and reputed brand presence.
Throughout the fiscal years FY21-23, Cello World undertook no significant changes to its business operations, apart from the acquisition of shares in Wim Plast and the acquisition of business entities by Cello Industries, Cello Household Products, and Unomax Stationery through a slump sale.
“Going forward, our Glassware unit, which is coming up in Rajasthan, will also give extra revenue to the company. Overall, it looks really good to grow from here. Our product lines are expanding and we will grow at the pace we were growing over the last three-four years,” says Pradeep Rathod.