Stove Kraft Ltd

Stove Kraft Ltd has announced the incorporation of its Wholly Owned Subsidiary (WOS) in China, named "Guangzhou Jiawo Import & Export Co. Ltd." with an initial investment of CNY 10 Million. The WOS has a registered capital of CNY 20 Million. Additionally, Stove Kraft has formed a 50-50 Joint Venture (JV) in China named "Yushan Wosituo New Materials Co., Ltd." with Ningbo Wochi New Materials Co.,Ltd. The JV aims to manufacture triply sheets for cookware. The company's WOS will invest in the JV soon. These strategic moves are intended to expand business operations, secure supply chain control, and achieve better quality and cost advantages.

Stove Kraft Ltd reported a robust Q1 FY27 performance with revenue growing 41.3% year-on-year to ₹480.6 crore. Profit After Tax (PAT) surged by 63.5% to ₹17.1 crore. The company experienced significant growth across product categories, notably a 315.9% increase in Induction Cooktops, alongside strong performances in Pressure Cookers (21.8% growth) and Non-stick Cookware (41.3% growth). Channel performance was also strong, with General Trade growing 56.2% and Own Retail up 86.3%. The Managing Director highlighted broad-based growth, margin improvement, and strengthened market position despite economic uncertainties.

Stove Kraft Limited announced the reappointment of Mr. Anup S Shah as Independent Director for a second five-year term and Mrs. Neha Gandhi as Executive Director for a further five-year term. Both reappointments are subject to shareholder approval. The company's Board of Directors also approved the Unaudited Financial Results for the quarter ended June 30, 2026, reporting revenue from operations of ₹4,805.83 million and a profit before tax of ₹133.43 million. The results were presented alongside a limited review report from the statutory auditors.

Stove Kraft's standalone Q1 FY27 (quarter ended June 30, 2026) revenue rose 41.3% YoY to ₹480.6 Cr (from ₹340.1 Cr) and 15.9% sequentially from ₹414.5 Cr in Q4 FY26. PAT was ₹17.06 Cr, up 63.5% YoY from ₹10.43 Cr; the sequential jump (+181.9% over Q4 FY26's ₹6.05 Cr) is largely a low seasonal base for a small-appliances business and shouldn't headline — the YoY comparison is the one that matters here. EPS was ₹5.15 versus ₹3.15 a year ago. There were no exceptional items in either period, so this is like-for-like, unadjusted growth. Margins expanded on both counts: OPM (EBITDA margin) rose to 11.19% from 10.47% YoY and 9.52% QoQ, running at/just above management's own Q4 FY26-call guidance to "protect and improve upon the 11% EBITDA margin" via operating leverage from a completed capex cycle and ~1% annual gross-margin gains — guidance met. NPM improved to 3.55% from 3.05% YoY. Revenue growth of 41.3% YoY is well ahead of the >15% full-year FY27 growth management had guided, which it attributed on that call to small-appliance/induction-cooktop demand, export normalisation and the IKEA contract ramp (targeted at an eventual ₹200-250 Cr run-rate); the filing carries no segment breakout to confirm which driver contributed most, and no press release/MD&A commentary accompanied it. Against the Street, Univest's pre-result preview (published June 30, 2026) had modelled revenue of ~₹368 Cr (+8.2% YoY) and PAT of ~₹13 Cr (+27.2% YoY) — the actual print beat both materially. Separately, the Board used this meeting to approve an in-principle wholly-owned China subsidiary (flagged since the May 2026 board meeting) and reappointed Executive Director Neha Gandhi and independent director Anup Shah for fresh five-year terms — governance items unrelated to the print. The company's outstanding income-tax search-related assessment proceedings (Note 7, from a November 2023 search) remain unresolved for some assessment years, though management continues to assess no material adverse impact on results.

Stove Kraft Ltd has announced that its Board of Directors will convene on August 3, 2026. The primary agenda for this meeting is to consider and approve the standalone unaudited financial results for the quarter that concluded on June 30, 2026. This announcement is made in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015.

Stove Kraft Ltd announced the appointment of Mr. Chandru Kalro as an Additional Director (Non-Executive Non-Independent) and designated him as Vice Chairperson. The decision was approved by the Board of Directors on July 2, 2026, following a recommendation from the Nomination and Remuneration Committee. This appointment is subject to shareholder approval. Mr. Kalro brings over 35 years of experience in the consumer durable industry, including a significant tenure as Managing Director at TTK Prestige Limited. His expertise in corporate strategy, brand building, and business transformation is expected to be valuable for Stove Kraft.

Stove Kraft Ltd has announced the closure of its trading window for designated persons and their immediate relatives, effective June 29, 2026. This measure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code of conduct. The trading window will be reopened 48 hours after the declaration of the unaudited financial results for the quarter ending June 30, 2026. This action is a standard procedure to prevent potential insider trading during periods when sensitive financial information is being prepared or finalized.

Stove Kraft Ltd's Board of Directors has approved the incorporation of a wholly-owned subsidiary (WOS) and a joint venture in China. The WOS, named Stove Kraft Guangzhou Import Export Limited (subject to approval), will trade goods for the company. The joint venture with Ningbo Wochi New Materials Co., Ltd. will manufacture triply sheets/circles for cookware, with a 50:50 shareholding. Both ventures are subject to regulatory approvals, including from the Reserve Bank of India and Chinese authorities. Related party transactions will be conducted at arm's length.

Stove Kraft Ltd's board addressed a fine of ₹7,080 levied by the National Stock Exchange of India (NSE) for a three-day delay in submitting the shareholding pattern for the quarter ended March 31, 2026. The company attributed the delay to an oversight regarding the single filing system and has already paid the fine on May 16, 2026. The board has been advised to prevent such occurrences in the future, with no expected impact on the company's financial or operational activities.

Stove Kraft Ltd reported a robust Q4 FY26 performance with a 32.4% YoY increase in revenue, reaching ₹414.5 crores. EBITDA grew by 33.9% YoY to ₹39.5 crores, and PAT saw a significant surge of 317.8% YoY to ₹6.1 crores. The company's performance was driven by strong demand for electric cooking categories and effective execution across channels. Induction cooktop demand witnessed exceptional growth, particularly in e-commerce. Stove Kraft expanded its presence with new stores and strengthened its innovation pipeline with the launch of the Pigeon EGNITE 3500 cooktop.