Cello World Ltd

Meeting Details

• Date and time: August 10, 2026 at 10:00 a.m. IST.
• Type and mode: Earnings conference call (group, virtual) hosted by ICICI Securities.
• Event/organiser: Cello World Limited Q1 FY27 Earnings Conference Call; ICICI Securities hosted.

Participants

• Joint Managing Director of Cello World Limited.
• Chief Financial Officer of Cello World Limited.
• Moderator from ICICI Securities.

Purpose

• Earnings results discussion for Q1 FY27.
• Investor Q&A session following the presentation.

Additional Notes

• Transcript of the August 10, 2026 call enclosed; available on company website.
• Conference call was recorded.
• Investor presentation uploaded to stock exchanges and company website.

AGM Details

• AGM conducted; voting via remote e-voting and at AGM.
• Attendance via video conferencing by promoter group and public.
• Votes considered per Scrutinizer's report; invalid votes excluded.

AGM Details

• Date and time: 7 August 2026 at 11:00 IST.
• Mode: VC/OAVM as permitted under MCA/SEBI guidelines.
• Voting cutoff date for rights: 31 July 2026.

Resolutions Presented

• Ordinary Resolution 1: Adopt standalone financial statements for year ended 31 March 2026.
• Ordinary Resolution 2: Adopt audited consolidated financial statements for year ended 31 March 2026.
• Ordinary Resolution 3: Declare dividend of 30% (Rs 1.50 per share).
• Ordinary Resolution 4: Appoint Pankaj Ghisulal Rathod as Joint Managing Director, retires by rotation, eligible for re-appointment.

Voting Results

• Resolution 1: Passed with majority; minimal opposition.
• Resolution 2: Passed with majority; minimal opposition.
• Resolution 3: Dividend approved.
• Resolution 4: Passed; majority support with some opposition.

Key Governance Changes

• Pankaj Ghisulal Rathod appointed Joint Managing Director; retirement by rotation, eligible for re-appointment.

Meeting Details

• Date: August 10, 2026; earnings conference call held to discuss Q1 FY2026 performance.
• Event: earnings conference call; mode: audio recording released on company website.

Participants

• Key company participant: Company Secretary & Compliance Officer.

Purpose

• Purpose: discuss performance for the first quarter ended June 30, 2026.

Additional Notes

• Audio recording is available on the company's website.

Financial highlights

• Revenue from operations in Q1 FY27: Rs 526.7 crore.
• YoY revenue growth: -0.4%.
• Gross profit Rs 275.9 crore; gross margin 52.4%.
• EBITDA Rs 117.1 crore; EBITDA margin 22.2%.
• PAT Rs 73.4 crore; PAT margin 13.9%.

Corporate actions & restatements

• Composite Scheme of Arrangement among Wim Plast, CCPPL and Cello effective 27 May 2026.
• Comparatives restated to reflect scheme from 1 April 2025.

Segment revenue mix

• Consumer Ware revenue Rs 334.8 crore; YoY -8.4%.
• Writing Instruments revenue Rs 111.9 crore; YoY +52.0%.
• Moulded Furniture and Allied Products revenue Rs 80.0 crore; YoY -11.0%.

Segment gross profit

• Consumer Ware gross profit Rs 184.1 crore; YoY -10.4%.
• Writing Instruments gross profit Rs 60.3 crore; YoY +39.1%.
• Moulded Furniture gross profit Rs 31.6 crore; YoY -14.1%.

Outlook & operational notes

• In-house steel bottle production started; scale-up expected in coming quarters.
• Price increases in consumer ware to preserve profitability.
• Management expects performance to improve progressively with focus on efficiency and working capital.
• Focus on improving operational efficiencies, product rationalization, market reach, and working capital control.

Issue Overview

• Type of issue: Qualified Institutional Placement of equity shares.
• Total issue size disclosed; no revision or undersubscription reported.
• Invest in CCWPL to set up a new stainless steel bottle facility.
• Repayment/pre-payment of borrowings by subsidiaries from promoters/promoter group.
• Repayment of borrowings from Wim Plast Limited.
• Repayment/pre-payment of borrowings from promoters.
• Augmenting working capital.
• General corporate purposes.
• QIP issue expenses.

Utilisation of Proceeds

• Utilisation not fully per disclosures; Object 1 utilisation delayed.
• Means of finance changed; QIP expenses reallocated to Object 5.
• Object 1: partially utilised; end-quarter unutilised 13.51 cr; ongoing.
• Object 2: Fully utilised.
• Object 3: Fully utilised.
• Object 4: Fully utilised.
• Object 5: Fully utilised.
• Object 6 (GCP): No quarterly utilisation.
• Object 7 (QIP expenses): No quarterly utilisation.
• Unutilised funds parked in Tata Liquid Fund; principal 20.80 cr, earnings reinvested 7.29 cr.
• Total market value of investments at quarter end: 51.29 cr.

Governance and Compliance

• Deviation from objects: No deviation.
• Not all government/statutory approvals obtained; remaining approvals to be applied.
• CWL Falna facility requires no new license due to location.
• Delay in Object 1 may affect viability.
• No major deviations from earlier MA reports.

General Corporate Purpose (GCP)

• GCP utilization: Nil in the quarter.
• Board approval for GCP allocations not indicated.

Financial results approved

• Unaudited standalone and consolidated Q1 FY2026 results approved; Deloitte reviewed.
• Standalone Q1 2026: revenue ₹25,715.41 lakh; PAT ₹1,685.65 lakh.
• Consolidated Q1 2026: revenue ₹52,671.57 lakh; PAT ₹7,340.22 lakh.

Fund-raising deviation and monitoring

• Regulation 32 deviation: no deviation in QIP funds raised (₹738 crore).
• Monitoring by CARE Ratings Limited.
• Working capital allocation reduced to ₹79.80 crore; QIP expenses ₹24.20 crore.
• Original QIP objects include subsidiary investment and loan repayments.

Corporate actions and regulatory matters

• NCLT order sanction: Composite Scheme of Arrangement with Wim Plast; effective Apr 1, 2025.
• Shares: 4,653,239 equity shares to WPL shareholders, excluding the Company.
• Comparatives restated; EPS adjusted for scheme.

AGM Details

• AGM held on August 07, 2026 at 11:00 AM IST via VC/OAVM.
• AGM concluded at 11:58 AM IST, including 15 minutes of e-voting.

Resolutions

• Ordinary: Adoption of standalone financial statements for FY2025-26.
• Ordinary: Adoption of consolidated financial statements for FY2025-26.
• Ordinary: Dividend of 30% (Rs 1.50 per share) on equity shares.
• Ordinary: Re-appointment of Pankaj Ghisulal Rathod as Joint Managing Director.

Voting Status

• Voting results to be declared within 2 working days and submitted to stock exchanges.
• Results to be posted on company website and MUFG Intime India site.

Auditors & Scrutinizer

• Statutory auditor Deloitte Haskins & Sells remains; no change announced.
• Scrutinizer for e-voting: Dharmesh Sarvaiya (Sarvaiya & Co).

Director Changes

• Pankaj Ghisulal Rathod to be re-appointed as Joint Managing Director.