Stove Kraft Ltd
StoveKraft Ltd was incorporated in 1999 by Mr. Rajendra Gandhi. [1] It manufactures a wide range of kitchen solutions under Pigeon (value), Gilma (semi-premium) brands and acts as an exclusive partner for kitchen appliances of the BLACK + DECKER (premium) brand. The products comprise cookware and cooking appliances, while the home solutions consist of various household utilities, including the recently introduced LED bulbs, oxymeters, etc. [2]
- Market Cap ₹ 1,651 Cr.
- Current Price ₹ 499
- High / Low ₹ 814 / 452
- Stock P/E 44.2
- Book Value ₹ 149
- Dividend Yield 0.60 %
- ROCE 11.0 %
- ROE 8.69 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
Cons
- Stock is trading at 3.34 times its book value
- Company has a low return on equity of 8.75% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Consumer Durables Consumer Durables Household Appliances
Part of BSE Allcap BSE Consumer Discretionary
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 333 | 321 | 330 | 493 | 524 | 641 | 670 | 859 | 1,134 | 1,281 | 1,361 | 1,448 | 1,506 | |
| 337 | 326 | 351 | 489 | 512 | 611 | 636 | 745 | 1,038 | 1,180 | 1,240 | 1,295 | 1,350 | |
| Operating Profit | -4 | -5 | -20 | 4 | 12 | 30 | 34 | 114 | 96 | 101 | 121 | 152 | 156 |
| OPM % | -1% | -2% | -6% | 1% | 2% | 5% | 5% | 13% | 8% | 8% | 9% | 11% | 10% |
| 0 | 4 | 1 | 3 | 4 | 2 | 2 | 0 | -2 | -4 | 0 | 0 | -1 | |
| Interest | 15 | 16 | 15 | 15 | 17 | 18 | 21 | 19 | 12 | 18 | 26 | 33 | 29 |
| Depreciation | 9 | -4 | 10 | 11 | 12 | 12 | 12 | 14 | 20 | 32 | 49 | 71 | 79 |
| Profit before tax | -28 | -12 | -44 | -19 | -13 | 2 | 3 | 81 | 63 | 47 | 46 | 49 | 47 |
| Tax % | 0% | 0% | 0% | -0% | 0% | 2% | 0% | 0% | 10% | 24% | 25% | 21% | |
| -28 | -12 | -44 | -19 | -13 | 2 | 3 | 81 | 56 | 36 | 34 | 39 | 37 | |
| EPS in Rs | -14.90 | -6.57 | -23.32 | -10.20 | -6.76 | 0.77 | 1.15 | 24.91 | 17.10 | 10.83 | 10.33 | 11.65 | 11.30 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 24% | 26% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 16% |
| 5 Years: | 17% |
| 3 Years: | 8% |
| TTM: | 3% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 66% |
| 3 Years: | -12% |
| TTM: | -6% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 1% |
| 3 Years: | 9% |
| 1 Year: | -37% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 15% |
| 3 Years: | 9% |
| Last Year: | 9% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 19 | 19 | 19 | 19 | 19 | 25 | 25 | 33 | 33 | 33 | 33 | 33 | 33 |
| Reserves | 41 | -122 | -166 | -185 | -197 | -85 | -83 | 270 | 331 | 370 | 406 | 438 | 461 |
| 108 | 335 | 365 | 372 | 396 | 321 | 338 | 53 | 78 | 197 | 256 | 348 | 196 | |
| 85 | 88 | 122 | 146 | 177 | 168 | 192 | 216 | 286 | 297 | 401 | 386 | 452 | |
| Total Liabilities | 253 | 320 | 340 | 352 | 395 | 428 | 472 | 571 | 728 | 897 | 1,097 | 1,204 | 1,143 |
| 81 | 172 | 191 | 187 | 181 | 181 | 194 | 221 | 312 | 402 | 510 | 627 | 525 | |
| CWIP | 18 | 15 | 0 | 0 | 1 | 2 | 8 | 19 | 9 | 10 | 30 | 23 | 66 |
| Investments | 25 | 19 | 8 | 9 | 8 | 9 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| 129 | 114 | 140 | 156 | 205 | 237 | 270 | 331 | 407 | 486 | 557 | 554 | 552 | |
| Total Assets | 253 | 320 | 340 | 352 | 395 | 428 | 472 | 571 | 728 | 897 | 1,097 | 1,204 | 1,143 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 14 | 10 | 103 | -5 | 76 | 113 | 130 | ||||||
| -11 | -18 | -65 | -115 | -104 | -89 | -79 | ||||||
| 22 | -2 | -22 | 92 | 30 | -19 | -55 | ||||||
| Net Cash Flow | 25 | -11 | 15 | -29 | 2 | 5 | -4 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 54 | 55 | 55 | 44 | 55 | 51 | 56 | 36 | 31 | 40 | 39 | 33 |
| Inventory Days | 76 | 104 | 78 | 109 | 81 | 96 | 102 | 103 | 103 | 136 | 147 | |
| Days Payable | 105 | 133 | 117 | 150 | 112 | 125 | 100 | 60 | 75 | 111 | 107 | |
| Cash Conversion Cycle | 54 | 26 | 26 | 6 | 14 | 20 | 28 | 38 | 74 | 68 | 65 | 73 |
| Working Capital Days | 38 | -59 | -80 | -47 | -34 | -36 | -36 | 23 | 12 | -1 | -9 | -12 |
| ROCE % | -10% | 2% | -13% | -2% | 3% | 8% | 9% | 32% | 19% | 13% | 11% | 11% |
Insights
In beta| Mar 2018 | Mar 2019 | Sep 2020 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Domestic Distributors Number |
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| Retail Outlets Reach (Domestic) Number |
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| Number of Pigeon Exclusive Stores Number |
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| Bengaluru Facility Capacity Utilization Percentage |
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| Installed Manufacturing Capacity Million Units |
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| Net Working Capital Days Days |
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| Cast Iron Capacity (Harohalli) Million Pieces per Annum |
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| Pressure Cooker Volume Growth (YoY) Percentage |
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| Small Appliances Volume Growth (YoY) Percentage |
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Documents
Announcements
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 6 Mar
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
3 Mar - Stove Kraft officials to attend Investec India Promoter & Founder Conference, Mumbai, on 9 March 2026; meetings from 11:00 AM.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
27 Feb - Stove Kraft to meet investors at Nirmal Bang virtual conference on 05 March 2026 from 2:00 PM.
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Announcement under Regulation 30 (LODR)-Change in Management
27 Feb - Mayank Gupta resigns as Chief Growth Officer, effective 27 Feb 2026, to pursue external opportunity; built 300+ retail stores.
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 5 Feb
Annual reports
Concalls
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT
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May 2025Transcript PPT
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Feb 2025Transcript PPT
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT REC
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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Jun 2023Transcript PPT REC
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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Jun 2022Transcript PPT
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Mar 2022TranscriptPPT
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Feb 2022Transcript PPT
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Nov 2021Transcript PPT
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Jul 2021TranscriptAI SummaryPPT
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May 2021TranscriptAI SummaryPPT
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Feb 2021TranscriptPPT
Leading Home Appliance Brand
The company is one of the leading brands for home and kitchen appliances in India one of the dominant players for pressure cookers, and among the market leaders in standing hobs, cooktops, and nonstick cookware. [1] It has the 3rd largest market share of 12% in non-stick cookware by volume. [2]