Stove Kraft Ltd

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.

Stove Kraft Ltd's board meeting on May 12, 2026, approved the audited financial results for the year ended March 31, 2026, and recommended a final dividend of ₹3.50 per share. Price Waterhouse Chartered Accountants LLP was re-appointed as Statutory Auditors for a second term of five years. The board accepted the resignation of CFO Mr. Ramakrishna Pendyala, effective May 15, 2026, and appointed Mr. Subhadeep Pal as the new CFO, effective May 16, 2026. The board also approved amendments to the ESOP plan and granted 46,915 stock options to employees.

Stove Kraft Ltd's board recommended a final dividend of ₹3.50 per equity share (35%) for FY26, subject to shareholder approval. The board also approved the reappointment of Price Waterhouse Chartered Accountants LLP as statutory auditors for a second term of five years. Additionally, the ESOP pool was increased, Ramakrishna Pendyala resigned as CFO effective May 15, 2026, and Subhadeep Pal was appointed as the new CFO from May 16, 2026. The 27th AGM will be held on September 11, 2026, with a record date of September 4, 2026.

Stove Kraft Ltd's board approved the audited financial results for FY26, recommending a final dividend of ₹3.50 per share. They re-appointed Price Waterhouse as statutory auditors and approved amendments to the ESOP plan. Mr. Ramakrishna Pendyala resigned as CFO, effective May 15, 2026, and Mr. Subhadeep Pal was appointed as the new CFO, effective May 16, 2026. The 27th AGM will be held on September 11, 2026, with a record date of September 4, 2026, for dividend and AGM eligibility.

Stove Kraft Ltd's board approved the audited financial results for the year ended March 31, 2026, reporting revenue from operations of ₹16,074.24 million. The board recommended a final dividend of ₹3.50 per equity share. They also approved the reappointment of Price Waterhouse Chartered Accountants LLP as statutory auditors and an amendment to the Stovekraft Employee Stock Option Plan 2018. Mr. Ramakrishna Pendyala resigned as CFO, and Mr. Subhadeep Pal was appointed as the new CFO, effective May 16, 2026. The 27th Annual General Meeting is scheduled for September 11, 2026.

Stove Kraft Ltd has scheduled a Board of Directors meeting on May 12, 2026, to consider and approve the Standalone Audited Financial Results for the quarter and financial year ended March 31, 2026. The board will also consider recommending a dividend for the financial year ended March 31, 2026, subject to shareholder approval. Additionally, the meeting will address the amendment of the Stovekraft Employee Stock Option Plan 2018, including increasing the ESOP pool, subject to shareholder and regulatory approvals.