Stove Kraft Ltd was incorporated in 1999 by Mr. Rajendra Gandhi and is headquartered in Bangalore, Karnataka. The company is involved in the kitchen appliances industry, with business activities including manufacturing and sale of kitchen solutions under the Pigeon and Gilma brands. The company operates in a single segment: 'Kitchen and Home appliances'.
The company has established itself as a significant player in India's kitchen appliances market, serving both domestic and international markets. It sells its products in 23 states in India and 12 countries overseas. The company has the single largest manufacturing facility for kitchen appliances in the country in Bangalore and another manufacturing unit at Baddi, Himachal Pradesh.
Stove Kraft manufactures a wide range of kitchen solutions under its Pigeon (value) and Gilma (semi-premium) brands. Additionally, it acts as an exclusive partner for kitchen appliances of the BLACK + DECKER (premium) brand. The product portfolio comprises cookware and cooking appliances, while home solutions consist of various household utilities, including recently introduced LED bulbs, oximeters, etc.
The comprehensive product range includes pressure cookers, non-stick cookware, gas and induction cooktops, mixer grinders, chimneys, and hobs, among others. Furthermore, the company offers rice cookers, electric kettles, toasters, sandwich makers, knives, steam and dry irons, juicers, air fryers, and electric grills.
The company is one of the leading brands for home and kitchen appliances in India, a dominant player for pressure cookers, and among the market leaders in standing hobs, cooktops, and non-stick cookware. It holds the 3rd largest market share of 12% in non-stick cookware by volume.
The award-winning Pigeon brand is a trusted leader in the Indian kitchen & home appliances industry. With a legacy of co-branding partnerships spanning over 13 years with LPG companies, Pigeon has leveraged these relationships to expand its reach, particularly in the country's interior regions, resulting in a strong consumer presence and high brand recall.
The company has also secured strategic partnerships, including being chosen by IKEA (Global Retail Chain) as a supply partner. As part of this partnership, the company will develop a range of cookware to be sold through IKEA's global network of stores from 2026.
The current market capitalisation of Stove Kraft Ltd (STOVEKRAFT) is ₹1,995.63 crores as of June 2025. The company is classified as a small-cap stock and trades on both NSE and BSE exchanges.
For the full year ended March 2025, net profit rose 12.80% to ₹38.51 crore as against ₹34.14 crore during the previous year ended March 2024. Sales rose 6.27% to ₹1,449.82 crore in the year ended March 2025 as against ₹1,364.33 crore during the previous year ended March 2024.
Net profit of Stove Kraft declined 45.49% to ₹1.45 crore in the quarter ended March 2025 as against ₹2.66 crore during the previous quarter ended March 2024. Sales declined 3.76% to ₹312.99 crore in the quarter ended March 2025 as against ₹325.23 crore during the previous quarter ended March 2024.
Net profit of Stove Kraft rose 79.59% to ₹12.14 crore in the quarter ended December 2024 as against ₹6.76 crore during the previous quarter ended December 2023. Sales rose 11.75% to ₹404.06 crore in the quarter ended December 2024 as against ₹361.59 crore during the previous quarter ended December 2023.
- Market Capitalization: ₹1,995.63 crore (as of June 2025)
- FY2024-25 Performance: Net Profit of ₹38.51 crore, Sales of ₹1,449.82 crore
- Q4 FY2024-25 Performance: Net Profit of ₹1.45 crore, Sales of ₹312.99 crore
- Q3 FY2024-25 Performance: Net Profit of ₹12.14 crore, Sales of ₹404.06 crore
- Promoter Holding: 55.84% (as of March 2025)
- Dividend (FY2023-24): ₹2.50 per equity share (25%)
The company has been continuously expanding its manufacturing capabilities and infrastructure. In November 2023, the company commissioned a newly constructed Warehouse on 2.75 acres of land (1.20 Lacs sq ft) adjacent to their Registered Office and Factory. It also commissioned a 4 MWp Solar Power Plant on the rooftop of its newly built Unit 3 at a cost of ₹13.88 crore in 2024.
Currently, the company's human capital consists of over 6,500 dedicated employees, reflecting its substantial operational scale and commitment to employment generation.
Promoter holding in Stove Kraft Ltd has gone down to 55.84 per cent as of March 2025 from 55.88 per cent as of June 2024. The company maintains a strong promoter base while allowing for public participation in its equity structure.
The company has maintained dividend payments to shareholders, with the company fixing 13 September 2024 as the record date for the purpose of determining the members entitled to attend the AGM and receive a dividend of ₹2.50 per equity share of ₹10 each (i.e., 25%) for FY2023-24.
With its strong market position, diversified product portfolio, and strategic partnerships, including the IKEA collaboration, Stove Kraft Ltd continues to be a significant player in India's kitchen appliances industry. Investors should consider the company's performance volatility and competitive market dynamics when making investment decisions.
