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Updated : Mar 18, 2024, 06:58 AM IST
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In November 2023, Mumbai-based company Cello World, renowned for its diverse range of kitchenware products spanning from snack boxes and water bottles to storage containers and plastic furniture, reached a significant milestone as it made its debut on the stock market, propelling it into the exclusive billionaires club.
Pradeep Rathod, aged 59 and serving as both the chairman and managing director of the company, attained billionaire status owing to his substantial 44% ownership stake in Cello World, which was valued at $1 billion according to Forbes.
Beyond its core cookware offerings, which contribute to more than two-thirds of its total revenue, Cello World also diversifies its product portfolio with items such as pencils, stationery, and moulded furniture.
Founded in 1967 by Ghisulal Rathod, initially specializing in PVC footwear and bangles, Cello World underwent a transformative journey in the late '80s. Inspired by Ghisulal Rathod's visit to the US, the company focussed on producing Cello casseroles. with Pradeep Rathod at te helm, the company further expanded its offerings to include a wide array of kitchenware products, and in 2017, it ventured into the glassware and opal ware market.
With over four decades of industry experience, Pradeep Rathod collaborates closely with his younger brother, Pankaj Rathod, and his son, Gaurav Pradeep Rathod, in steering the company forward.
In the past two years alone, Cello World has witnessed an impressive 70% surge in sales, with the company raking in 17.97 billion rupees ($219 million) in revenue for the fiscal year ending in March 2023. Moreover, net profits surged by 58% during the same period, reaching 2.8 billion rupees ($35 million).
Despite the IPO not being priced on the lower end, investors were attracted to Cello World's diversified product offerings encompassing plastic, glass, and porcelain items.
In a competitive market landscape, Cello World contends with prominent rivals such as Borosil, TTK, Milton, and La Opala, as it continues to solidify its position as a leader in the kitchenware industry.
