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 ₹ 1,854 Cr.
- Current Price ₹ 560
- High / Low ₹ 814 / 446
- Stock P/E 49.6
- Book Value ₹ 149
- Dividend Yield 0.54 %
- ROCE 11.0 %
- ROE 8.69 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
Cons
- Stock is trading at 3.75 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: | 3% |
| 3 Years: | 13% |
| 1 Year: | -15% |
| 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 | |||||
| Free Cash Flow | 3 | -16 | 40 | -113 | -21 | 8 | 49 | |||||
| CFO/OP | 45% | 29% | 90% | 4% | 87% | 103% | 93% |
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
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Announcement under Regulation 30 (LODR)-Change in Management
8 Apr - Stove Kraft appoints Mr. Subhadeep Pal as VP-Finance effective 08 April 2026.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 6 Apr
- Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011 25 Mar
- Closure of Trading Window 23 Mar
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 6 Mar
Annual reports
Concalls
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Jun 2023Transcript PPT REC
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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]