Cello World IPO Review & Recommendations

Cello World Limited IPO Peer Comparison

Cello World Limited peer comparison with similar listed entities. (Consolidated) (As on March 31, 2023)

Notes:

(1) Basic/Diluted EPS refers to the Basic/Diluted EPS sourced from the financial statements of the respective peer group companies for the year ended March 31, 2023.

(2) RoNW is computed as net profit after tax attributable to shareholders divided by total equity attributable to the equity shareholders as on March 31, 2023. Return on Net worth (%) = Restated profit for the year/ period attributable to owners of the Company / Total Net worth at the end of the year / period.

(3) NAV per equity share refers to total equity attributable to the equity shareholders as at the end of the financial year/ period divided by the number of Equity Shares outstanding at the end of the year/ period.

(4) P/E ratio for the peer group (excluding Hawkins Cookers Limited) has been computed based on the closing market price of equity shares on NSE (BSE in case of Hawkins Cookers Limited since listed only on BSE) as on October 19, 2023, divided by the Diluted EPS for year ended March 31, 2023