Cello World (CELLO) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 revenue grew to INR 557 crore from INR 527 crore year-over-year, with stable EBITDA margin at 25% and PAT margin at 16%.

• Revenue for 9MFY25 reached Rs. 1,548 crores, up 4% year-over-year, reflecting muted consumer demand and discretionary spending pressures.

• Board approved unaudited standalone and consolidated financial results for Q3 and nine months ended December 31, 2024.

• Demand was healthy in the first half of the quarter but softened later due to lower discretionary spending.

• Operational efficiencies and stable input prices supported cost stability, with EBITDA margin for 9MFY25 at 26.3%.

Financial highlights

• Q3 FY25: Revenue INR 557 crore, EBITDA INR 140 crore (25% margin), PAT INR 86 crore (16% margin).

• 9MFY25 revenue was Rs. 1,547.6 crores, up 4% YoY; EBITDA Rs. 406.5 crores (26.3% margin); PAT Rs. 250.6 crores (16.2% margin).

• Standalone revenue from operations for Q3 FY25 was ₹29,134.29 lakhs, up from ₹24,983.43 lakhs in Q3 FY24; nine-month revenue was ₹80,113.14 lakhs, up from ₹75,540.54 lakhs year-over-year.

• Consolidated revenue from operations for Q3 FY25 was ₹56,922.68 lakhs, up from ₹49,005.79 lakhs in Q3 FY24; nine-month consolidated revenue was ₹1,54,756.68 lakhs, up from ₹1,48,779.31 lakhs year-over-year.

• Gross profit for 9MFY25 was Rs. 799.3 crores, with a margin of 51.6%.

Outlook and guidance

• Revenue growth guidance for FY26 is 12%-14%, with potential upside to 15%-17% if demand improves.

• EBITDA margin expected around 24%-25%, with up to 1% contraction due to glassware plant ramp-up.

• Glassware plant to contribute INR 20-25 crore per quarter from Q1 FY26, targeting INR 150 crore revenue in first year and INR 250 crore at full capacity in year two.

• Anticipates demand recovery, especially in hydration and back-to-school categories.

• Focus remains on innovation, brand building, and expanding distribution models.