Pradeep Rathod, the chairman and managing director of Cello World, is the country's newest billionaire after his company's public listing valued his 44 per cent stake at $1 billion, which translates to Rs 8,239 crore.
With its wide range of kitchenware, Cello World competes with the likes of Borosil, Milton, TTK, and La Opala. The company also sells stationery items and moulded plastic furniture. The public listing is expected to help Cello expand its product range further with wider distribution.
Pradeep's late father Ghisulal Dhanraj Rathod forayed into the business in 1962 when he became a partner in a small plastic manufacturing unit. He established Cello in 1974. Pradeep's son Gaurav Rathod and brother Pankaj Rathod, 56, are joint managing directors at Cello. The brand expanded to glassware and opal ware business in 2017.
Cello has 13 manufacturing units across the country, of which eight are located in Daman and Diu and two are in Haridwar. The remaining three facilities are based in Kolkata, Chennai and Himachal Pradesh's Baddi. The firm is also eyeing a new glassware unit in Rajasthan.
What is Pradeep Rathod's net worth?
As of November 10, Cello World has a market value of Rs 16,733 crore. Cello World has a 55 per cent stake in Cello Wimplast, which is listed in the Indian stock market. Pradeep's net worth is about Rs 13,000 crore, according to The Times of India. He, along with his family members, holds over 78 per cent stake in the company.
The company witnessed its revenue soaring 70 per cent in the past two years to reach Rs 1,797 crore in the 2023 fiscal year while the net profit in the same period increased 58 per cent to touch Rs 280 crore.