Cello World Management Guidance Tracker

Management expects overall revenue growth of 12-15% for FY26, driven by consumerware and glassware ramp-up.

Management expects to achieve 12-15% revenue growth for the full year, with H1 growth at 13%.

Management expects 8-10% growth in Q4 FY26 and Q1 FY27 as steelware ramps up and glassware scales.

Unomax and Cello brands together to generate over ₹500 crore revenue in FY27, with long-term potential of ₹1,000 crore.

Management guided for EBITDA margin of around 23% for the full year, down from 26% in FY25.

EBITDA margin (excluding other income) is guided at 22-23% for FY26, with H1 at 22%.

Normalized EBITDA margin of ~22% expected within two quarters as steelware volumes normalize and one-time impact fades.

The glassware plant is expected to break even by the end of the fiscal year as efficiencies improve to 85%.

The acquisition of the Cello brand for writing instruments is expected to close within the month, with revenue contribution from Q4 FY26.

Capex for the new steel flask facility is ₹40-50 Cr, with total capex around ₹100 Cr for the year.

Maintenance capex of ₹75-100 Cr annually plus incremental capex for writing instruments molds and machines.

The steel plant will start production in December 2025, stabilizing in 4-5 months, improving supply chain and margins.