6 days ago
LNPR Capital Sets ₹90 Target for Cellecor Gadgets
An equity research firm has said that Cellecor Gadgets shares could rise significantly over the next year.
It gave the stock a Buy rating and a target price of ₹90.
The shares were reported at ₹33.35 when the article was published.
The firm likes the company because its sales and profit margins have grown.
Cellecor sells products through many retailers and uses partner companies to manufacture them.
Moving from the SME stock exchange platform to the mainboard could make the shares easier for more investors to trade.
The company also expects strong sales and profit growth in FY27.
It is expanding into Africa, but investors are warned that the stock still has liquidity and execution risks.
The research firm therefore suggests keeping the investment small until the proposed migration is completed.
LNPR Capital initiated coverage of Cellecor Gadgets with a Buy rating and a ₹90 12-month target.
The target implies around 161% potential upside from the reported share price of ₹33.35.
The company reported FY26 revenue of ₹1,292 crore, with EBITDA margin rising to 5.54% and return on equity near 22%.
Key potential catalysts include mainboard migration, FY27 revenue guidance of ₹1,800–2,000 crore and Africa expansion.
LNPR Capital recommends accumulating between ₹32 and ₹38, with a ₹25 stop-loss and limited portfolio exposure before migration.
- Who
- Cellecor Gadgets and independent equity research firm LNPR Capital.
- What
- LNPR Capital initiated coverage with a Buy rating and a ₹90 12-month target price for Cellecor Gadgets.
- Where
- Cellecor Gadgets is listed on the NSE SME platform and has proposed a direct listing on the BSE mainboard; the company is also developing a facility in Buchanan, Liberia.
- When
- The share-price decline was reported on Thursday, 27 August; shareholder e-voting was scheduled to close on 6 September, with a proposed vote outcome referenced for September 2026.
- Why
- LNPR Capital cited revenue growth, improving margins, mainboard migration, promoter investment, FY27 guidance and international expansion.
Bullish investment case
Risks and reservations
Valuation and growth
Bullish investment case
LNPR Capital believes Cellecor is undervalued because it has evolved from a small-cap trading business into a capital-light consumer brand and distribution platform, with strong historical growth.
Risks and reservations
The stock remains on the SME platform and is described as carrying residual liquidity risks, so the research firm recommends limited exposure until the migration process is completed.
Mainboard migration
Bullish investment case
Migration to the mainboard could improve liquidity, attract institutional investors and remove some SME-listing restrictions.
Risks and reservations
The migration is only proposed and depends on the shareholder process and a planned direct listing on the BSE mainboard; the article does not establish that it will be completed.
Expansion plans
Bullish investment case
Promoter warrant participation and expansion into Africa, including a planned Liberia manufacturing facility, could support future growth.
Risks and reservations
The Africa expansion requires execution, and the article identifies the current SME listing and liquidity as risks while recommending a ₹25 stop-loss.
Key facts
- Reported share price
- ₹33.35 per share on the NSE
- Research rating
- Buy
- 12-month target
- ₹90 per share
- FY26 revenue
- ₹1,292 crore
- FY26 EBITDA margin
- 5.54%, compared with 2.5% three years earlier
- Distribution network
- More than 1 lakh retail touchpoints, over 1,800 distributors, more than 2,000 service centres and coverage across 25,000 pincodes
- Risk guidance
- Accumulate in the ₹32–₹38 range, use a ₹25 stop-loss and limit exposure to 2–4% of a small-cap portfolio until migration
Sources
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