Multibagger shares rise 5% after company’s partnership with Ekkaa Electronics

Shares of Multibagger, which manufactures, supplies, brands and distributes consumer durables such as TVs, mobile phones, smart wearables and more, rose 5 percent intraday following a strategic partnership to integrate Samsung’s operating system into its products.

Reduction

With a market capitalization of 646 crores, the company’s shares Cellecor Gadgets Limited were trading at Rs 308.10 per share, up 2.50 per cent from the previous day’s closing price of Rs 300.60. During the year, the company achieved a return on investment of 235 per cent.

What happened

Cellecor Gadgets Limited announced a strategic partnership with Ekkaa Electronics Industries Private Limited, Samsung’s authorized licensing partner in India, to integrate Samsung’s Tizen operating system on all of the company’s Smart TVs.

Under this agreement, Cellecor Gadgets Limited will be an approved TV brand running on Samsung’s acclaimed Tizen operating system, further reinforcing Cellecor’s commitment to delivering innovative and high-quality Smart TVs to its valued customers.

In addition, Cellecor will receive comprehensive marketing support, where it will work with customers based on their needs to develop and implement marketing plans tailored to the specific needs and objectives of their business. This will be followed by comprehensive after-sales support, ensuring that customers and end-users receive fast and efficient service for any issues related to these Smart TVs.

Samsung Tizen OS, known for its robustness and versatility, is a Linux-based operating system developed in partnership with Intel, offering a rich ecosystem of features and functionality. It also supports a unified smart home automation ecosystem, enabling our Smart TVs to act as control centers for monitoring and managing connected devices on Android and iOS platforms.

A Message from Full-Time Directors

Mr. Nikhil Aggarwal, Whole Time Director, Cellecor Gadgets Limited, commented, “We are excited about this partnership as it represents a key advancement in our Smart TV offering. With Samsung’s Tizen operating system as the core technology of our products, we are well positioned to deliver unparalleled visual and interactive experiences that are tailored to the ever-changing needs of our discerning customers.

About company

Cellecor Gadgets Limited is engaged in the manufacturing, sourcing, branding and distribution of TVs, mobile phones, smart wearables, mobile accessories, smart watches, neckbands and many more.

Finance and indicators

Revenue from operations grew by 89 per cent from Rs 264 crores in FY2023 to Rs 500 crores in FY2024, aided by a profit of Rs 8 crores to Rs 16 crores.

In terms of return metrics, the company recorded a return on equity (ROE) of 117 percent and a return on capital employed (ROCE) of 84 percent. The company recorded a high debt-to-equity ratio of 0.83.

Written by: Bharath KS

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