A leading manufacturer of kitchen appliances and cookware has made a significant investment in expanding its production capabilities. The company has opened a new cast iron foundry at their Harohalli factory, marking a strategic move to bolster their product portfolio and meet the growing demand for high-quality cast iron cookware.
This investment in the new cast iron foundry underscores Stove cookwareKraft’s commitment to innovation and market leadership. By enhancing their production capabilities, the company aims to strengthen its position in the kitchen appliances and cookware industry, delivering a wider range of products to meet the evolving needs of their customers.
Share Price Movement
The share price of Stove Kraft Limited went up by 1.09 percent to Rs. 767.25 per share on Tuesday, an increase from its previous close of Rs. 758.95 per share. The market capitalisation now stands at approximately Rs. 2,535.90 crore as of November 26, 2024.
What Happened
Stove Kraft has opened a new cast iron foundry at their Harohalli factory. The foundry is built for Rs 40 crore and is an automated production line capable of producing a wide range of caste cookware and high-quality caste iron components. It has an installed capacity of 2.2 million pieces per year, with plans to double this to 4.4 million pieces annually in the future.
Q2 Financial Highlights
According to its recent filing, in the quarter ending September 2024, Stove Kraft’s consolidated revenue from operations has increased by 10 percent YOY from Rs. 380 crore in Q2 FY24 to Rs. 418 crore in Q2 FY25 and increased by 33 percent QoQ from Rs. 314 crore in Q4 FY24.
The company’s consolidated net profit has stayed the same YoY at Rs. 17 crore in Q2 FY24 and Rs. 17 crore in Q2 FY25. As compared to the last quarter of 2025, the company’s net profit has increased by 112 percent QoQ from Rs. 8 crore.
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Market Outlook
The global kitchen appliances market was valued at USD 245.45 billion in 2024 and is projected to reach USD 321.4 billion by 2029, driven by technological advancements, changing consumer preferences, and the rise of smart home automation. The smart kitchen appliance market is expected to reach USD 44.49 billion by 2029.
Key trends include the integration of IoT and AI capabilities, growing adoption of smart appliances, and increased focus on energy efficiency and sustainability. In India, the electrical kitchen appliances market is booming, valued at USD 7.01 billion in 2023, with a projected CAGR of 6.75% by 2024, due to economic development, lifestyle changes, and the growth of the internet. Overall, the kitchen appliances industry is poised for continued innovation and expansion in the coming years.
Shareholding Pattern
As of the November 2024 shareholding pattern, Stove Kraft Limited is primarily held by the promoters at 55.88 percent, domestic institutional investors hold 5.48 percent, and the public with 37.11 percent.
About Company
Stovekraft Limited, founded in 1999 and headquartered in Bangalore, Karnataka, is a prominent Indian manufacturer of kitchen and home appliances. The company is well-known for its dedication to quality and innovation, offering a wide array of products under flagship brands such as Pigeon and Gilma.
With a global presence in over 12 countries, Stovekraft serves diverse consumer needs. The Pigeon brand caters to affordable kitchen appliances, including pressure cookers, air fryers, and electric rice cookers. Meanwhile, Gilma provides semi-premium offerings like LPG stoves and kitchen sinks. The company’s exclusive partnership with Black+Decker expands its product range to small appliances like food processors and coffee makers. Additionally, Stovekraft also offers energy-efficient LED lighting under the Pigeon LED brand.
Stovekraft’s two manufacturing plants in Bangalore and Baddi, Himachal Pradesh, support a vast distribution network of 61,000 dealers across India. With sustainability at its core, the company continues to grow while minimising environmental impact. Stovekraft is poised for future success.
Written By Fazal Ul Vahb C H
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