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Latest filing: 2026-08-13 16:24
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CNY 10 Million Investment: Stove Kraft Incorporates China Subsidiary and 50:50 Joint Venture
Stove Kraft has operationalized its China expansion by incorporating a Wholly Owned Subsidiary (WOS), Guangzhou Jiawo Import & Export Co. Ltd, with an initial investment of CNY 10 Million (approx. ₹11.6 Cr) made on August 12, 2026. Additionally, a 50:50 Joint Venture (JV) named Yushan Wosituo New Materials Co., Ltd. has been formed to manufacture triply sheets and circles for cookware. This move is a strategic step toward backward integration, aiming to secure supply chain control and cost advantages for its premium cookware segment.
Confidence: HIGH
What changedThe company has transitioned from 'in-principle approval' to the formal incorporation and initial funding of its Chinese subsidiary and manufacturing joint venture.
Why it mattersThis represents a significant backward integration move. By manufacturing triply sheets (a key raw material for premium cookware) in-house via a JV, the company can potentially reduce costs and improve supply chain reliability compared to pure importing.
WOS Initial Investment: CNY 10 MillionWOS Registered Capital: CNY 20 MillionJV Shareholding: 50:50Investment vs Net Worth: ~2.3%
📅 Short termThe market is likely to view this as a positive execution of the company's stated strategy to strengthen its supply chain, though immediate financial impact will be minimal.
📈 Long termStructurally significant as it supports the company's shift toward higher-margin premium cookware and reduces dependency on external suppliers for specialized materials.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Geopolitical risks associated with operating in China
- Forex fluctuation risks (CNY/INR)
- Execution risk of the joint venture manufacturing facility
Key Highlights
CNY 10 Million initial investment made in the China WOS on August 12, 2026
CNY 20 Million total registered capital for the new subsidiary, Guangzhou Jiawo
50:50 Joint Venture formed with Ningbo Wochi New Materials for manufacturing triply sheets
Manufacturing revenues currently account for ~90% of total revenue, which this JV will further support
Investment of CNY 10 Million represents approximately 2.3% of the company's current Net Worth of ₹504 Cr
👀 What to Watch
Monitor the timeline for the JV's manufacturing facility to become operational and track improvements in gross margins for the cookware segment in upcoming quarterly results.
41.3% Revenue Growth in Q1 FY27; Induction Cooktops Surge 315.9% YoY
Stove Kraft reported its strongest-ever Q1 performance with revenue growing 41.3% YoY to ₹480.6 Cr, significantly outpacing the seasonally soft industry trend. Growth was primarily driven by a 315.9% surge in Induction Cooktops, which now contribute 27% of total revenue. The company is aggressively expanding its retail footprint, adding 17 new franchise stores this quarter toward a target of 500 outlets by 2027. Management highlighted margin expansion potential through premiumization and a new triply cookware line expected to be operational by Q3 FY27.
Confidence: HIGH
What changedStove Kraft transitioned from a seasonally weak Q1 to its strongest-ever first quarter, driven by a massive surge in induction cooktops and a recovery in general trade.
Why it mattersThe results demonstrate strong manufacturing agility and the success of an omnichannel strategy; the shift toward premiumization and exclusive retail stores (EBOs) is intended to structurally improve operating margins.
Q1 FY27 Revenue: ₹480.6 CrRevenue Growth (YoY): 41.3%Induction Cooktop Growth: 315.9%General Trade Growth: 56.2%Retail Channel Growth: 86.3%IKEA Revenue Potential: 5-6% of total business
📅 Short termPositive sentiment is expected due to the significant revenue beat and strong growth in core categories, signaling a recovery in general trade and successful premiumization.
📈 Long termStructural growth is supported by the expansion to 500 exclusive stores, entry into personal care, and backward integration into premium segments like triply cookware and cast iron.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Supply side deficiencies in small appliances due to resource reallocation
- Vulnerability to aluminum and steel price volatility
- Forex risks impacting margins (₹2.8 Cr loss in Q2 FY26)
Key Highlights
Revenue grew 41.3% YoY to ₹480.6 Cr in Q1 FY27, compared to ₹340.1 Cr in the previous year's quarter.
Induction Cooktop category witnessed 315.9% YoY growth, becoming a key growth engine at 27% of revenue mix.
General Trade channel recovered strongly with 56.2% YoY growth, the highest in the last three years.
Retail channel (EBOs) grew 86.3% YoY, supported by 17 new franchise store additions in the quarter.
South India market remains the largest contributor, accounting for approximately 50% of total revenue.
👀 What to Watch
Monitor the execution of the 500-store retail expansion target by 2027 and the operationalization of the new triply cookware line in Q3 FY27. Investors should also track if the high growth in induction cooktops is sustainable or a one-time structural shift post-geopolitical disruptions.
41.3% Revenue Growth: Stove Kraft Reports Strong Q1 FY27 with PAT up 63.5% to ₹17.1 Cr
Stove Kraft reported a robust Q1 FY27 with revenue reaching ₹480.6 Cr, a 41.3% YoY increase, significantly outpacing historical quarterly averages. Profitability improved sharply with PAT jumping 63.5% to ₹17.1 Cr, driven by a 315.9% surge in the Induction Cooktop category. The company expanded its retail footprint to 346 stores, adding 17 new outlets this quarter. Operating margins (EBITDA) expanded to 11.2% from 10.5% YoY, reflecting strong operating leverage despite the quarter being seasonally soft for the industry.
Confidence: HIGH
What changedStove Kraft delivered its strongest-ever Q1 performance, traditionally a soft quarter, marked by a significant shift toward own-retail and premium product categories.
Why it mattersThe high growth in the 'Own Retail' channel (86.3%) and premium segments like Induction Cooktops is structurally improving the company's margin profile and reducing its dependence on traditional wholesale channels.
Revenue (Q1 FY27): ₹480.6 CrPAT (Q1 FY27): ₹17.1 CrRevenue vs TTM Revenue: 54.3%Induction Cooktop Growth: 315.9%Total Operational Stores: 346 unitsEBITDA Margin: 11.2%
📅 Short termPositive sentiment is expected as the company significantly beat historical Q1 performance trends and showed strong momentum in General Trade (56.2% growth).
📈 Long termThe aggressive expansion of the COFO retail network and diversification into premium categories like Black + Decker could re-rate the business if double-digit margins are sustained.
⚠ Risk flags
- Vulnerability to aluminum and steel price spikes
- Forex risks (USD impact)
- Potential channel conflict between e-commerce and general trade
Key Highlights
Revenue grew 41.3% YoY to ₹480.6 Cr, representing approximately 54.3% of the previous TTM revenue in a single quarter.
Induction Cooktop category witnessed exceptional growth of 315.9% YoY.
Own Retail channel delivered 86.3% growth, with 346 total stores now operational across 160 cities.
EBITDA margins improved by 70 bps YoY to 11.2%, resulting in a 50.9% jump in EBITDA to ₹53.8 Cr.
Average sales per store stood at ₹4.36 Lakhs per month, supported by 15% repeat purchase rates.
👀 What to Watch
Monitor the sustainability of the high growth in Induction Cooktops and the execution of the 500-store target by 2027. Watch for margin stability in upcoming quarters as commodity prices for aluminum and steel fluctuate.
41.3% Revenue Growth: Stove Kraft Reports Highest-Ever Q1 Revenue of ₹480.6 Cr
Stove Kraft delivered a robust Q1FY27 performance with revenue growing 41.3% YoY to ₹480.6 Cr, driven by a massive 315.9% surge in the Induction Cooktop segment. Profitability saw significant gains with PAT rising 63.5% YoY to ₹17.1 Cr, supported by a 127 bps expansion in gross margins to 39.6%. The company successfully expanded its retail footprint to 346 stores, contributing to an 86.3% YoY growth in the retail channel. While working capital days increased to 45 days due to festive inventory build-up, the overall operational leverage remains strong with EBITDA growing 50.9% YoY.
Confidence: HIGH
What changedStove Kraft has achieved a significant scale-up in its Q1 performance, shifting its channel mix heavily toward General Trade and Own Retail while maintaining margin expansion.
Why it mattersThe strong growth in high-margin segments like Induction Cooktops and the expansion of the 'Pigeon' store network indicate successful brand premiumization and reduced dependency on third-party e-commerce platforms.
Q1 Revenue: ₹480.6 CrYoY Revenue Growth: 41.3%PAT Growth: 63.5%Gross Margin: 39.6%Q1 Revenue vs TTM Revenue: 54.3%Operational Stores: 346
📅 Short termThe stock is likely to react positively to the strong top-line and bottom-line beat, with focus shifting to management commentary in the scheduled conference call.
📈 Long termThe structural shift toward a 500-store retail model and diversification into personal care could lead to sustained margin improvements and higher capital efficiency (ROCE).
⚠ Risk flags
- Inventory build-up to 45 days (from 23 days QoQ) increases short-term liquidity pressure.
- Vulnerability to aluminum and steel price spikes.
- Forex losses from USD appreciation.
Key Highlights
Reported highest-ever Q1 revenue of ₹480.6 Cr, a 41.3% YoY increase.
PAT grew by 63.5% YoY to ₹17.1 Cr, with EBITDA margins improving to 11.2%.
Induction Cooktop segment delivered exceptional growth of 315.9% YoY.
Retail channel revenue grew 86.3% YoY, supported by 346 operational stores across 160 cities.
Gross margins expanded by 127 bps YoY to 39.6% despite elevated raw material costs.
👀 What to Watch
Investors should monitor the company's ability to liquidate the increased inventory (45 days) during the upcoming festive season and track the progress toward the 500-store target by 2027.
Stove Kraft Q1 FY27 PAT Rises 65% to ₹17.05 Cr; Reappoints Key Directors for 5 Years
Stove Kraft reported a robust Q1 FY27 with revenue from operations growing 41.3% YoY to ₹480.58 cr. Net profit surged 65.4% YoY to ₹17.05 cr, up from ₹10.31 cr in the same quarter last year. The board approved the reappointment of Executive Director Neha Gandhi and Independent Director Anup Sanmukh Shah for five-year terms. Management also noted that while Income Tax assessment proceedings are ongoing following a 2023 search, no material adverse impact is expected.
Confidence: HIGH
What changedStove Kraft delivered strong double-digit growth in both revenue and profit for Q1 FY27 while securing leadership continuity through director reappointments.
Why it mattersThe strong quarterly performance validates the company's expansion strategy and manufacturing efficiency, while the 5-year leadership extensions provide stability for its 'Pigeon' store network expansion goals.
Revenue (Q1 FY27): ₹480.58 crNet Profit (Q1 FY27): ₹17.05 crYoY Revenue Growth: 41.3%Q1 Revenue vs FY26 Annual Revenue: 29.9%EPS (Q1 FY27): ₹5.15
📅 Short termThe stock is likely to react positively to the significant YoY growth in earnings and revenue, reflecting strong demand in the domestic appliances segment.
📈 Long termLeadership continuity and consistent manufacturing-led growth support the company's target of 500 exclusive stores by 2027 and diversification into personal care.
⚠ Risk flags
- Ongoing Income Tax assessment proceedings
- Vulnerability to aluminum and steel price fluctuations
- Forex risks related to USD appreciation
Key Highlights
Revenue from operations increased 41.3% YoY to ₹480.58 cr in Q1 FY27.
Net profit grew 65.4% YoY to ₹17.05 cr, with EPS rising to ₹5.15 from ₹3.15.
Reappointed Mrs. Neha Gandhi as Executive Director for 5 years effective September 30, 2026.
Reappointed Mr. Anup Sanmukh Shah as Independent Director for a second 5-year term starting November 2, 2026.
Total expenses for the quarter stood at ₹458.09 cr, with cost of materials consumed at ₹238.81 cr.
👀 What to Watch
Monitor the company's ability to maintain 40%+ revenue growth and observe the final resolution of the Income Tax assessment proceedings mentioned in the auditor's notes.
Stove Kraft Q1 Revenue Grows 41% to ₹480.6 Cr; Net Profit Surges 65% YoY
Stove Kraft Limited reported a robust performance for Q1 FY27, with revenue from operations increasing 41.3% YoY to ₹480.58 Cr. Net profit for the quarter rose 65.5% YoY to ₹17.06 Cr, up from ₹10.31 Cr in the year-ago period. The company maintained its growth momentum with EPS rising to ₹5.15 from ₹3.15. Additionally, the board approved the reappointment of Executive Director Neha Gandhi and Independent Director Anup Sanmukh Shah for five-year terms, ensuring leadership continuity.
Confidence: HIGH
What changedStove Kraft reported its Q1 FY27 financial results showing significant top-line and bottom-line growth, alongside the reappointment of key board members.
Why it mattersThe strong quarterly performance validates the company's value-for-money strategy and manufacturing-led model, which now accounts for approximately 90% of revenue.
Revenue (Q1 FY27): ₹480.58 CrNet Profit (Q1 FY27): ₹17.06 CrRevenue Growth (YoY): 41.3%Net Profit Growth (YoY): 65.5%EPS (Q1 FY27): ₹5.15
📅 Short termThe stock may see positive sentiment in the short term due to the strong earnings beat and significant YoY growth in profitability.
📈 Long termThe company's focus on backward integration and retail expansion to 500 stores by 2027 provides a structural growth runway, provided margins are protected from raw material volatility.
⚠ Risk flags
- Ongoing Income Tax assessment proceedings following 2023 search operations
- Vulnerability to aluminum and steel price fluctuations
- Forex risk due to USD exposure
Key Highlights
Revenue from operations increased 41.3% YoY to ₹480.58 Cr in Q1 FY27.
Net profit grew 65.5% YoY to ₹17.06 Cr compared to ₹10.31 Cr in Q1 FY26.
Basic EPS improved significantly to ₹5.15 from ₹3.15 in the corresponding previous quarter.
Total expenses for the quarter stood at ₹457.61 Cr, with cost of materials consumed at ₹238.81 Cr.
Reappointment of Neha Gandhi as Executive Director for a 5-year term effective September 30, 2026.
👀 What to Watch
Investors should monitor the sustainability of this 41% growth rate in upcoming quarters and track the execution of the 'Pigeon' store expansion strategy. The resolution of ongoing Income Tax assessment proceedings mentioned in the auditor's report remains a key administrative watchpoint.
Stove Kraft Appoints Former TTK Prestige MD Chandru Kalro as Vice Chairperson
Stove Kraft has appointed Mr. Chandru Kalro as an Additional Director and Vice Chairperson effective July 02, 2026. Mr. Kalro is a veteran of the consumer durables industry with over 35 years of experience, most notably serving as the Managing Director of major competitor TTK Prestige from 2015 to 2024. This strategic appointment comes as Stove Kraft (TTM Revenue Rs 884 Cr) seeks to expand its retail footprint to 500 stores by 2027 and improve its operating margins, which currently stand at 9.4%.
Confidence: HIGH
What changedStove Kraft has added a high-profile industry veteran from its primary competitor to its board in a leadership capacity.
Why it mattersHiring the former head of a market leader like TTK Prestige suggests Stove Kraft is serious about professionalizing its board and scaling its brand beyond the value-for-money segment to improve its 11% ROCE.
Experience in Consumer Durables: 35+ yearsPrevious MD Tenure (TTK Prestige): April 2015 - September 2024Target Store Count: 500 by 2027TTM Revenue: Rs 884 CrOperating Profit Margin: 9.4%
📅 Short termThe appointment of a well-regarded industry leader is likely to be viewed positively by the market in the coming days as a sign of strengthening corporate governance and strategy.
📈 Long termMr. Kalro's experience in brand building and omni-channel distribution could be pivotal in helping Stove Kraft transition from a regional South-Indian player to a national brand with higher margins.
⚠ Risk flags
- Non-executive role limits direct operational control
- Potential for strategic friction if his vision differs from the current promoter group
Key Highlights
Mr. Chandru Kalro appointed as Vice Chairperson and Non-Executive Director effective July 02, 2026
Brings over 35 years of experience, including a 9-year tenure as MD of TTK Prestige (2015-2024)
Appointment aligns with the company's goal to reach 500 exclusive 'Pigeon' stores by 2027
Mr. Kalro is an alumnus of IIM Ahmedabad with expertise in enhancing shareholder value
The board meeting for this approval concluded within 57 minutes on July 02, 2026
👀 What to Watch
Investors should monitor if this leadership addition leads to improved premiumization of the product mix and better execution of the 500-store expansion plan by 2027.
Stove Kraft Q4 FY26 PAT Surges 317% YoY to ₹6.1 Cr; Revenue Up 32.4%
Stove Kraft reported a robust Q4 FY26 with consolidated revenue growing 32.4% YoY to ₹414.5 crores, driven by a massive 89.4% value growth in induction cooktops. While full-year PAT grew a modest 9.1% to ₹42 crores, the Q4 PAT saw an exceptional jump of 317.8% YoY to ₹6.1 crores. The company is aggressively expanding its retail footprint, reaching 329 exclusive brand outlets (EBOs) with a target of 500 by 2027. Export competitiveness has also improved significantly following a reduction in US tariffs from 50% to 18%.
Key Highlights
Q4 FY26 revenue grew 32.4% YoY to ₹414.5 crores; EBITDA rose 33.9% to ₹39.5 crores.
Induction cooktops delivered strong momentum with 89.4% value growth and 67.3% volume growth in Q4.
Small kitchen appliances volume surged 97.7% YoY, though value growth was lower at 12.7% due to a shift toward lower ASP products.
OEM exports contribution rose to 8.7% in Q4, benefiting from US tariff reductions on Indian goods.
The company added 67 net EBOs in FY26, bringing the total to 329 stores across 151 cities and 22 states.
👀 What to Watch
Investors should focus on the company's successful channel diversification and the scaling of its EBO network which is improving brand visibility. While volume growth is high, monitoring the impact of product mix on overall margins will be crucial for long-term valuation.
Stove Kraft Q4 FY26: Revenue Up 32.4% YoY, PAT Surges 317.8% to ₹6.1 Crore
Stove Kraft reported a robust Q4 FY26 with revenue growing 32.4% YoY to ₹414.5 crore, driven by strong demand in electric cooking categories. Net profit saw a massive jump of 317.8% YoY to ₹6.1 crore, despite being impacted by a forex loss of ₹5.67 crore during the quarter. The company's EBITDA margins remained stable at 9.5%, while induction cooktops emerged as a high-growth segment with 89.4% value growth. Expansion continues with 329 operational stores and a significant shift towards e-commerce, which now accounts for 34% of total revenue.
Key Highlights
Revenue grew 32.4% YoY to ₹414.5 crore in Q4 FY26, with full-year FY26 revenue reaching ₹1,607.4 crore.
PAT surged 317.8% YoY to ₹6.1 crore in Q4, even after accounting for a ₹5.67 crore forex loss.
Induction Cooktops and Non-stick Cookware saw exceptional value growth of 89.4% and 49.6% respectively.
E-commerce channel contribution rose to 34%, while the company expanded its retail footprint to 329 stores.
EBITDA increased 33.9% YoY to ₹39.5 crore, maintaining a margin of 9.5%.
👀 What to Watch
Investors should monitor the company's ability to sustain high growth in the electrical cooking segment and manage forex volatility. The strong recovery in PAT and robust e-commerce performance suggest a positive outlook for this kitchen appliances player.
Stove Kraft Q4 FY26 PAT Surges 317% YoY to ₹6.1 Cr; Revenue Up 32%
Stove Kraft reported a robust Q4 FY26 with revenue growing 32.4% YoY to ₹414.5 crore, driven by an 89.4% surge in the induction cooktop segment. Net profit for the quarter skyrocketed by 317.8% to ₹6.1 crore, despite being impacted by a ₹5.67 crore forex loss. The company has significantly deleveraged its balance sheet, reducing net debt (excluding leases) to ₹27.4 crore from ₹194.5 crore in the previous year. Expansion remains a priority with the retail footprint reaching 329 stores across 151 cities.
Key Highlights
Q4 FY26 Revenue grew 32.4% YoY to ₹414.5 Cr, while FY26 Revenue rose 10.9% to ₹1,607.4 Cr
Q4 PAT surged 317.8% YoY to ₹6.1 Cr; FY26 PAT stood at ₹42 Cr representing 9.1% growth
Induction Cooktops segment delivered explosive 89.4% value growth in Q4 FY26
Net Debt (excluding leases) drastically reduced to ₹27.4 Cr from ₹194.5 Cr YoY
Retail footprint expanded to 329 stores with 16 new outlets added in Q4 alone
👀 What to Watch
The significant debt reduction and market share gains in the electric cooking segment make this a positive outlook. Investors should monitor if the company can maintain this growth momentum while managing forex volatility.
Stove Kraft Q4 Net Profit Jumps 318% to ₹60.5M; Recommends ₹3.50 Dividend
Stove Kraft reported a robust performance for Q4 FY26, with revenue from operations growing 32.4% YoY to ₹4,145.23 million. Net profit for the quarter saw a massive surge of 318%, rising to ₹60.51 million from ₹14.48 million in the same period last year. The board has recommended a final dividend of ₹3.50 per share (35%) and approved a transition in leadership with Subhadeep Pal appointed as the new CFO. Furthermore, the company is expanding its ESOP pool to 1,025,000 options to enhance employee retention.
Key Highlights
Q4 FY26 Revenue increased 32.4% YoY to ₹4,145.23 million.
Net Profit for Q4 FY26 surged 318% YoY to ₹60.51 million.
Recommended a final dividend of ₹3.50 per equity share for FY26.
Full-year FY26 Net Profit stood at ₹419.91 million compared to ₹385.05 million in FY25.
Management transition: Subhadeep Pal appointed as CFO effective May 16, 2026, following Ramakrishna Pendyala's resignation.
👀 What to Watch
Investors should take note of the significant profit margin expansion and the healthy dividend payout. The stock remains a watch for sustainable growth following the CFO transition and the expansion of the ESOP pool.
Stove Kraft FY26 PAT Rises 9% to ₹420M; Recommends ₹3.50 Dividend & Appoints New CFO
Stove Kraft reported a 10.8% YoY increase in annual revenue to ₹16,074 million for FY26, with PAT growing 9% to ₹419.9 million. The fourth quarter showed significant momentum, with revenue jumping 32% and PAT surging over 300% compared to the same period last year. The board recommended a final dividend of ₹3.50 per share and announced the transition of the CFO role to Subhadeep Pal. Additionally, the company is expanding its ESOP pool to 1,025,000 options to retain talent.
Key Highlights
Annual Revenue from operations grew 10.8% YoY to ₹16,074.24 million in FY26.
Q4 FY26 PAT witnessed a massive jump to ₹60.51 million compared to ₹14.48 million in Q4 FY25.
Recommended a final dividend of ₹3.50 per equity share (35% of face value) for FY26.
ESOP pool increased by approximately 26% from 813,000 to 1,025,000 stock options.
Appointed Subhadeep Pal as CFO effective May 16, 2026, following the resignation of Ramakrishna Pendyala.
👀 What to Watch
Investors should view the strong Q4 recovery and dividend recommendation as positive indicators of operational health. Monitor the management transition and the impact of the expanded ESOP pool on potential equity dilution.
Stove Kraft FY26 Profit Rises to ₹419.9M; Announces ₹3.50 Dividend and New CFO Appointment
Stove Kraft Limited reported a steady financial performance for FY26, with annual net profit rising to ₹419.91 million compared to ₹385.05 million in FY25. The company declared a final dividend of ₹3.50 per share and approved the re-appointment of Price Waterhouse as statutory auditors for five years. A key leadership transition was announced as CFO Ramakrishna Pendyala resigned, with VP-Finance Subhadeep Pal set to take over the role effective May 16, 2026. The board also approved increasing the ESOP pool to 1,025,000 options to strengthen employee retention.
Key Highlights
Annual Revenue from operations grew 10.8% YoY to ₹16,074.24 million in FY26.
Net Profit for the full year increased to ₹419.91 million, with Q4 FY26 profit jumping significantly to ₹60.51 million.
Recommended a final dividend of ₹3.50 per equity share (35% of face value) for FY26.
Appointed Subhadeep Pal as the new CFO following the resignation of Ramakrishna Pendyala.
Increased the ESOP pool from 813,000 to 1,025,000 stock options to align employee interests.
👀 What to Watch
Investors should view the internal promotion of the CFO and the dividend declaration as signs of operational stability and management confidence. The steady growth in profitability and revenue supports a positive long-term outlook for the kitchen appliances manufacturer.
Stove Kraft FY26 Net Profit Up 9% to ₹419.9M; Recommends ₹3.50 Final Dividend
Stove Kraft reported a steady 10.8% YoY growth in annual revenue reaching ₹16,074 million for FY26. The company's net profit for the year increased by 9% to ₹419.9 million, supported by a strong Q4 performance where profits jumped to ₹60.5 million from ₹14.5 million YoY. The board has recommended a final dividend of ₹3.50 per share and announced the appointment of Subhadeep Pal as the new CFO following the resignation of Ramakrishna Pendyala. Additionally, the company is expanding its ESOP pool to over 1 million options to retain talent.
Key Highlights
Annual revenue grew 10.8% YoY to ₹16,074.24 million in FY26
Net profit for FY26 rose to ₹419.91 million compared to ₹385.05 million in the previous year
Recommended a final dividend of ₹3.50 per equity share (35% of face value) with a record date of Sept 4, 2026
Q4 FY26 revenue saw a sharp increase to ₹4,145.23 million from ₹3,129.92 million YoY
Subhadeep Pal appointed as CFO effective May 16, 2026, succeeding Ramakrishna Pendyala
👀 What to Watch
Investors should view the strong Q4 recovery and dividend declaration as positive signs of operational health. Monitor the management transition and the impact of the expanded ESOP pool on future margins.
Stove Kraft FY26 Net Profit Rises to ₹419.9M; Recommends ₹3.50 Dividend
Stove Kraft Limited reported a steady financial performance for FY26, with annual revenue growing 10.8% to ₹16,074.24 million. Net profit for the full year increased to ₹419.91 million, up from ₹385.05 million in the previous fiscal year. The Board has recommended a final dividend of ₹3.50 per share (35%) and fixed September 4, 2026, as the record date. Additionally, the company announced a management transition with Subhadeep Pal appointed as the new CFO effective May 16, 2026.
Key Highlights
Full-year revenue from operations increased to ₹16,074.24 million vs ₹14,498.17 million in FY25.
Net profit for FY26 rose to ₹419.91 million compared to ₹385.05 million in the previous year.
Recommended a final dividend of ₹3.50 per equity share of ₹10 face value.
Q4 FY26 revenue surged to ₹4,145.23 million from ₹3,129.92 million in the year-ago quarter.
Management transition announced with Subhadeep Pal taking over as CFO from Ramakrishna Pendyala.
👀 What to Watch
Investors may view the consistent growth in revenue and profit as a positive sign of operational efficiency. The dividend yield and management continuity under the new CFO should be monitored for long-term stability.
Stove Kraft Q4 FY26 Net Profit Jumps to ₹60.5M; Recommends ₹3.50 Dividend
Stove Kraft reported a strong Q4 FY26 with revenue growing 32.4% YoY to ₹4,145.23 million and net profit rising significantly to ₹60.51 million. For the full year FY26, the company achieved a revenue of ₹16,074.24 million and a net profit of ₹419.91 million, representing a 9% growth. The board recommended a final dividend of ₹3.50 per share and announced a transition in leadership with Mr. Subhadeep Pal taking over as CFO. Operating cash flow showed significant improvement, nearly doubling to ₹2,577.42 million for the fiscal year.
Key Highlights
Q4 FY26 Revenue grew 32.4% YoY to ₹4,145.23 million compared to ₹3,129.92 million in the previous year.
Full-year FY26 Net Profit increased to ₹419.91 million from ₹385.05 million in FY25.
Recommended a final dividend of ₹3.50 per equity share (35% of face value) for FY26.
Net cash generated from operating activities surged to ₹2,577.42 million from ₹1,299.08 million YoY.
Management transition announced with Mr. Subhadeep Pal appointed as CFO effective May 16, 2026.
👀 What to Watch
Investors should take note of the strong revenue momentum in Q4 and the significant improvement in cash flow generation. The steady dividend payout and management transition suggest a focus on operational stability and shareholder returns.
Stove Kraft Chief Growth Officer Mayank Gupta Resigns; Led 300+ Store Retail Expansion
Mr. Mayank Gupta, the Chief Growth Officer of Stove Kraft Limited, has resigned effective February 27, 2026, to pursue an external opportunity. During his four-year tenure, Gupta was instrumental in building the company's retail vertical from its inception to a network of over 300 stores across India. As a key member of the Senior Management Personnel, his departure marks a significant leadership change in the company's growth and retail strategy. The company has acknowledged his contribution to the retail footprint but has not yet announced a successor.
Key Highlights
Resignation of Chief Growth Officer Mayank Gupta effective February 27, 2026.
Gupta led the retail vertical expansion from zero to a 300+ store network nationwide.
The executive served a tenure of 4 years, focusing on direct-to-consumer growth.
Departure is cited as being for the pursuit of an external professional opportunity.
Mr. Gupta was classified as Senior Management Personnel (SMP) under SEBI regulations.
👀 What to Watch
Investors should monitor the company's retail sales performance in upcoming quarters to ensure the 300+ store network remains productive post-leadership transition. Watch for the appointment of a new CGO to gauge the continuity of the current growth strategy.
Stove Kraft Q3 FY26: Revenue dips 6.4% on export headwinds; Gross Margins improve to 39.4%
Stove Kraft reported a 6.4% YoY decline in Q3 FY26 revenue to INR 378.4 crores, primarily due to a sharp drop in export sales which fell to just 3.5% of total revenue. Despite the top-line pressure, gross margins improved by 188 bps to 39.4% through better product mix and operational efficiencies. Profit After Tax (PAT) saw a significant decline to INR 4.1 crores, impacted by one-time expenses of INR 4.65 crores. However, the company successfully reduced its working capital debt by INR 80 crores and improved working capital days to 43.
Key Highlights
Q3 FY26 revenue declined 6.4% YoY to INR 378.4 crores due to weak export demand in the US market.
Gross margins expanded by 188 basis points to 39.4%, while 9-month EBITDA grew 5.4% to INR 127.7 crores.
Significant debt reduction of INR 80 crores achieved during the quarter, bringing working capital debt down to INR 80.6 crores.
Retail footprint expanded to 313 stores across 21 states, with a long-term target of 500 stores by 2027.
Small appliances category recorded a robust volume growth of 38% during the quarter.
👀 What to Watch
Investors should monitor the recovery of the export segment and the ramp-up of the IKEA partnership starting in FY27. The significant debt reduction and margin improvement are positive signs, but near-term PAT remains under pressure from one-off costs.
Stove Kraft Q3FY26 PAT Drops 65.8% YoY to ₹4.1 Cr; Revenue Declines 6.4%
Stove Kraft reported a weak Q3FY26 performance with revenue declining 6.4% YoY to ₹378.4 crore and reported PAT falling 65.8% to ₹4.1 crore. The bottom line was significantly impacted by one-time expenses, including a ₹1.9 crore forex loss and a ₹1.24 crore charge related to Labour Code implementation. Despite the quarterly slump, 9MFY26 revenue showed a modest 4.9% growth to ₹1,192.9 crore. The company continues its aggressive retail expansion, adding 17 new stores this quarter to reach a total of 313 outlets.
Key Highlights
Q3FY26 Revenue fell 6.4% YoY to ₹378.4 Cr, while EBITDA margin contracted to 9.1% from 10.0% in the previous year.
Reported PAT plummeted 65.8% YoY to ₹4.1 Cr, impacted by ₹3.14 Cr in extraordinary items (Forex and Labour Code).
Retail footprint expanded to 313 stores across 21 states, with a long-term target of 500 stores by CY 2027.
Working capital efficiency improved with days reduced to 43, while gross margins remained resilient at 39.4%.
Product category performance was mixed: Gas Cooktops grew 10.1% in value, while Non-stick Cookware value fell 27%.
👀 What to Watch
Investors should exercise caution as the sharp decline in quarterly profitability and revenue suggests near-term headwinds in consumer demand. Monitor if the aggressive store expansion translates into higher revenue per store and improved margins in the coming quarters.
Stove Kraft Q3 FY26 Revenue Dips 6.4% to ₹378.4 Cr; PAT Impacted by One-time Costs
Stove Kraft reported a challenging Q3 FY26 with revenue declining 6.4% YoY to ₹378.4 crore, though 9M FY26 revenue remains up by 4.9%. Profitability was significantly impacted as PAT fell 65.8% YoY to ₹4.1 crore, primarily due to one-time gratuity provisions of ₹1.24 crore and forex losses of ₹1.9 crore. On a positive note, gross margins improved by 188 bps to 39.4%, and the company successfully reduced its debt to ₹80.6 crore. The company continues its retail expansion, adding 17 new stores this quarter to reach a total of 313 outlets.
Key Highlights
Q3 FY26 Revenue decreased 6.4% YoY to ₹378.4 crore, while 9M FY26 Revenue grew 4.9% to ₹1,192.9 crore.
Gross Margin improved by 188 bps YoY to 39.4% in Q3 FY26, reflecting business resilience despite export sluggishness.
PAT dropped 65.8% YoY to ₹4.1 crore, hit by ₹3.14 crore in exceptional gratuity and forex items.
Debt reduced to ₹806 million (₹80.6 crore) during the quarter through improved working capital and sale-leaseback.
Retail footprint expanded to 313 stores across 138 cities, with 17 new stores added in Q3 FY26.
👀 What to Watch
Investors should focus on the company's ability to sustain gross margin improvements and the scaling of its exclusive retail channel. While the current profit dip is largely due to one-time items, the recovery in export volumes remains a key monitorable for future growth.
