Stove Kraft Ltd

₹ 596 2.25%
18 Aug - close price
About

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]

Key Points

Exclusivity
It entered the premium segment in 2016 through the BLACK + DECKER Brand Licensing Agreement which enabled it to exclusively retail, and provide post-sales services in a wide range of products such as breakfast appliances, small cooking appliances, etc., in India under the BLACK + DECKER brand, up to December 31, 2027. [1] [2]

  • Market Cap 1,960 Cr.
  • Current Price 596
  • High / Low 1,135 / 472
  • Stock P/E 38.6
  • Book Value 111
  • Dividend Yield 0.00 %
  • ROCE 18.4 %
  • ROE 16.9 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 37.3% CAGR over last 5 years
  • Debtor days have improved from 41.1 to 31.1 days.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Tax rate seems low

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
200.36 154.00 92.07 236.77 294.68 235.44 214.21 362.84 297.98 261.33 275.07
183.94 155.69 82.47 201.54 251.92 210.23 194.04 322.24 279.43 245.82 253.45
Operating Profit 16.42 -1.69 9.60 35.23 42.76 25.21 20.17 40.60 18.55 15.51 21.62
OPM % 8.20% -1.10% 10.43% 14.88% 14.51% 10.71% 9.42% 11.19% 6.23% 5.94% 7.86%
0.75 0.17 0.09 0.49 0.08 0.80 0.44 0.14 0.06 -2.19 -1.46
Interest 5.14 5.62 4.65 5.45 5.55 3.18 2.96 3.89 2.96 1.21 2.95
Depreciation 3.16 3.27 3.41 3.39 3.81 3.62 4.12 4.79 5.61 5.21 6.62
Profit before tax 8.87 -10.41 1.63 26.88 33.48 19.21 13.53 32.06 10.04 6.90 10.59
Tax % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 28.51% -10.66% -25.22% 23.70%
Net Profit 8.87 -10.41 1.62 26.88 33.47 19.21 13.53 22.93 11.11 8.65 8.08
EPS in Rs 5.89 4.15 7.04 3.39 2.63 2.46

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
588 377 333 321 330 493 524 641 670 859 1,136 1,197
596 422 337 326 351 489 513 611 636 745 1,042 1,101
Operating Profit -8 -45 -4 -5 -20 4 10 30 34 113 95 96
OPM % -1% -12% -1% -2% -6% 1% 2% 5% 5% 13% 8% 8%
10 0 0 4 1 3 6 2 2 1 -2 -3
Interest 0 14 15 16 15 15 17 18 21 19 11 11
Depreciation 0 8 9 -4 10 11 12 12 12 14 20 22
Profit before tax 2 -68 -28 -12 -44 -19 -13 2 3 81 63 60
Tax % 59% -7% 0% 0% 0% 0% 0% 2% 0% 0% 10%
Net Profit 1 -73 -28 -12 -44 -19 -13 2 3 81 56 51
EPS in Rs 24.91 17.10 15.52
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 7%
5 Years: 18%
3 Years: 21%
TTM: 22%
Compounded Profit Growth
10 Years: 49%
5 Years: 37%
3 Years: 210%
TTM: -45%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: -24%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
19 19 19 19 19 19 19 25 25 33 33
Reserves 46 -27 41 -122 -166 -185 -197 -85 -83 270 331
108 111 108 335 365 372 396 321 338 52 78
140 101 85 88 122 146 177 168 192 216 286
Total Liabilities 313 204 253 320 340 352 395 428 472 571 728
55 51 81 172 191 187 181 181 194 221 312
CWIP 6 9 18 15 0 0 1 2 8 19 9
Investments 15 22 25 19 8 9 8 9 1 0 0
236 123 129 114 140 156 205 237 270 331 407
Total Assets 313 204 253 320 340 352 395 428 472 571 728

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-23 14 10 110 -5
-16 -11 -18 -65 -115
39 22 -2 -29 92
Net Cash Flow -0 25 -11 15 -29

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 49 36 54 55 55 44 55 51 56 36 31
Inventory Days 76 104 78 109 81 96 102 103
Days Payable 105 133 117 150 112 125 115 60
Cash Conversion Cycle 49 36 54 26 26 6 14 20 28 23 74
Working Capital Days 50 11 38 19 15 10 22 21 30 36 33
ROCE % -39% -10% 2% -13% -2% 2% 8% 9% 32% 18%

Shareholding Pattern

Numbers in percentages

3 recently
Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
54.36 54.29 54.29 54.01 56.38 56.19
8.22 7.12 9.09 9.80 8.39 7.96
9.52 9.22 7.35 7.09 9.34 9.04
27.89 29.37 29.27 29.10 25.89 26.81

Documents

Concalls