Overview

Detailed Summary

Stove Kraft Limited manufactures and sells kitchen and home appliances under brands including Pigeon, Gilma and BLACK+DECKER (licenced), operating manufacturing facilities in Bengaluru and Baddi and a multi‑channel distribution network spanning exclusive Pigeon stores, 600+ distributors and exports to the USA and Mexico.
Retail expansion is a central growth lever: Stove Kraft opened 17 new exclusive stores in Q3, operates 313 stores across 21 states and is targeting 500 exclusive outlets by April 2027, with average monthly sales per store at INR 4.27 lakh, signalling aggressive roll‑out and franchise focus.
Financially mixed near term: 9MFY26 revenue rose 4.9% Y‑o‑Y to INR 1,192.9 crore with improved gross margins (~38.8% for 9M), while Q3FY26 saw revenue and PAT compression; the company is actively reducing debt (noted reduction to ~INR 806 million) and improving working capital metrics.
Product and manufacturing upgrades are tangible: Stove Kraft commissioned a cast iron foundry, automated roller coating lines, launched new product categories such as air fryers and personal care items, and installed a 4 MWp rooftop solar plant — reflecting vertical integration and cost focus to support margin improvement.

Sector: Consumer Durables
Industry: Household Appliances
Market Cap: 1,811 Cr
Volatility: Low Risk
P/E Ratio: 18.6
Industry P/E: 33.1
PEG Ratio: 0.0
P/B Ratio: 3.7
52W High: 814.00
52W Low: 445.95

Sales CAGR

1Y: 28.23%
3Y: 8.46%
5Y: 16.70%
10Y: —

Profit CAGR

1Y: 2469.72%
3Y: -11.85%
5Y: 68.43%
10Y: —

ROE

TTM: 9.18%
3Y: 8.25%
5Y: 12.41%
10Y: 12.41%

ROCE

TTM: 12.17%
3Y: 12.59%
5Y: 15.82%
10Y: 14.33%

Technicals

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Forecasts

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Peers

Consumer Discretionary Consumer Durables Consumer Durables Household Appliances

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
EPACK		222.00	2,801 Cr	52.20	2.93	0.00	4.27	7.04	2.03
CARYSIL		901.10	2,611 Cr	28.58	4.61	0.26	14.33	16.09	8.65
STOVEKRAFT		489.70	1,811 Cr	18.60	3.66	0.55	9.18	12.17	3.27
WEL		83.17	1,416 Cr	100.20	16.71	0.19	17.99	15.88	4.48
BUTTERFLY		622.80	1,076 Cr	25.76	3.09	0.00	11.69	16.18	7.75
ELIN		119.39	605 Cr	14.26	1.09	0.00	6.91	10.27	4.98
SINGERIND		70.26	455 Cr	54.62	2.74	0.00	4.35	6.06	4.37
Median: 7 Co.	—	222.00	1,416 Cr	28.58	3.09	0.00	9.18	12.17	4.48

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Mar 2020	Dec 2020	Mar 2021
Sales	154	295	235
Expenses	155	252	210
Operating Profit	-1.37	43	25
OPM %	-0.89	14.51	10.71
Other Income	0.17	0.08	0.80
Interest	5.62	5.55	3.18
Depreciation	3.43	3.81	3.62
Profit Before Tax	-10	33	19
Tax %	0.00	0.00	0.00
Net Profit	-10	33	19
EPS in Rs	—	—	5.88

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021
Sales	529	641	670	859
Expenses	514	611	636	746
Operating Profit	15	30	34	113
OPM %	2.89	4.65	5.04	13.16
Other Income	5.63	1.66	3.05	1.55
Interest	17	18	21	19
Depreciation	11	12	12	14
Profit Before Tax	-13	1.22	3.54	81
Tax %	4.28	39.87	10.30	0.00
Net Profit	-12	0.74	3.17	81
EPS in Rs	—	—	—	—
Dividend Payout %	0.00	0.00	0.00	0.00

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021
Equity Capital	19	25	25	33
Reserves	-199	-89	-85	269
Borrowings	392	310	327	50
Other Liabilities	181	180	204	218
Total Liabilities	394	426	471	570
Fixed Assets	183	179	193	220
CWIP	0.61	1.73	7.57	19
Investments	0.00	0.00	0.00	0.00
Other Assets	210	245	271	331
Total Assets	394	426	471	570

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021
Cash from Operating Activity	11	13	16	110
Cash from Investing Activity	-6.15	-6.81	-27	-66
Cash from Financing Activity	-5.30	22	-1.84	-29
Net Cash Flow	-0.14	28	-14	14

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	55.92%	55.92%	55.88%	55.88%	55.88%	55.88%	55.88%	55.84%	55.84%	55.80%	55.79%	55.79%
FIIs	0.98%	0.46%	0.42%	0.77%	0.93%	1.52%	1.68%	1.20%	1.20%	0.95%	0.87%	0.81%
DIIs	1.15%	2.39%	3.02%	3.44%	4.69%	5.48%	5.41%	7.01%	7.76%	7.90%	8.34%	7.97%
Public	41.95%	41.24%	40.68%	39.91%	38.50%	37.12%	37.04%	35.95%	35.20%	35.36%	35.00%	35.44%
Total Shareholders	86,063	79,536	77,766	74,196	69,598	57,889	55,179	54,786	56,939	54,705	54,139	59,006

Market Transactions

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Projection

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Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Available on Pro Plan