Mumbai, February 14, 2026: Cello World Limited (BSE: 544012 | NSE: CELLO) reported a 26% year-on-year decline in consolidated profit after tax attributable to owners at Rs 63.6 crore for the quarter ended December 31, 2025, even as revenue for the nine-month period rose 8% to Rs 1,670.1 crore.
The consumerware major delivered stable topline growth for 9M FY26, though Q3 performance was impacted by muted demand in select segments and supply constraints in the steel category.
Q3 FY26 Financial Performance
For Q3 FY26, revenue from operations stood at Rs 553.7 crore, marginally lower by 1% compared to Rs 556.8 crore in Q3 FY25.Consolidated Performance Snapshot
| Particulars (Rs crore) | Q3 FY26 | Q3 FY25 | YoY Change | 9M FY26 | 9M FY25 | YoY Change |
|---|---|---|---|---|---|---|
| Revenue from Operations | 553.7 | 556.8 | -1% | 1,670.1 | 1,547.6 | 8% |
| Gross Profit | 274.5 | 276.9 | -1% | 851.2 | 799.3 | 6% |
| Gross Profit Margin | 49.6% | 49.7% | — | 51.0% | 51.6% | — |
| EBITDA | 122.3 | 139.7 | -12% | 389.8 | 406.5 | -4% |
| EBITDA Margin | 22.1% | 25.1% | — | 23.3% | 26.3% | — |
| Profit Before Tax | 94.4 | 124.3 | -24% | 323.2 | 361.4 | -11% |
| PAT (Attributable to Owners) | 63.6 | 86.4 | -26% | 222.3 | 250.6 | -11% |
| PAT Margin | 11.5% | 15.5% | — | 13.3% | 16.2% | — |
For the nine-month period, EBITDA stood at Rs 389.8 crore with a margin of 23.3%, while PAT attributable to owners declined 11% year-on-year to Rs 222.3 crore.
Segment-Wise Performance
Revenue Breakup
| Segment | Q3 FY26 | Q3 FY25 | YoY | 9M FY26 | 9M FY25 | YoY |
|---|---|---|---|---|---|---|
| Consumer Ware | 384.5 | 386.4 | -1% | 1,172.1 | 1,055.7 | 11% |
| Writing Instruments | 85.9 | 77.3 | 11% | 240.5 | 230.3 | 4% |
| Moulded Furniture & Allied Products | 83.3 | 93.1 | -11% | 257.5 | 261.6 | -2% |
Gross Profit by Segment
| Segment | Q3 FY26 | Q3 FY25 | YoY | 9M FY26 | 9M FY25 | YoY |
|---|---|---|---|---|---|---|
| Consumer Ware | 193.0 | 193.5 | 0% | 610.4 | 552.1 | 11% |
| Writing Instruments | 48.5 | 42.3 | 15% | 136.5 | 129.5 | 5% |
| Moulded Furniture & Allied Products | 33.0 | 41.1 | -20% | 104.3 | 117.7 | -11% |
Management Commentary
Commenting on the results, Chairman and Managing Director Pradeep Rathod said the company generated revenues of Rs 554 crore in Q3 FY26, with EBITDA margin at 22.1% and PAT margin at 11.5%, despite strong festive offtake in the previous quarter and mixed demand sentiments.He noted that while writing instruments recorded double-digit growth, the other two segments weighed on overall performance. The consumerware segment was affected by supply constraints in steel, and moulded furniture witnessed pressure due to falling prices.
The company is focusing on streamlining its product portfolio, expanding premium offerings, and reshaping sales channels with greater emphasis on emerging platforms. These initiatives are aimed at enhancing operational efficiency, strengthening margins, improving working capital management, and boosting return on capital employed over time.
Corporate Update: Capital Restructuring
As part of an internal capital restructuring exercise, the Board approved the conversion of pre-existing inter-company loans aggregating Rs 500 crore into equity shares and approved a fresh capital infusion of Rs 100 crore into its wholly owned subsidiary, Cello Consumerware Private Limited.Operational Footprint and Market Presence
Cello World operates 14 manufacturing facilities across six locations in India, enabling in-house production across consumer houseware, writing instruments and stationery, moulded furniture and allied products, and consumer glassware.The company has a PAN India distribution network comprising over 4,000 distributors and more than 1,50,000 retailers. It continues to focus on innovation, expanding its consumer base, scaling branding and digital initiatives, and enhancing manufacturing capacities.
With stable nine-month revenue growth but margin pressures in the December quarter, investor focus will remain on demand recovery across segments and margin stabilization in the coming quarters.
Source
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