Stove Kraft Ltd

Stove Kraft Ltd has a strong presence in India and stands as a leading provider of kitchen solutions. With over two decades of presence in the market, it is one of the key players for home and kitchen appliances in India, particularly for its pressure cookers and is leading the market in free-standing hobs, cooktops and non-stick cookware. The company expanded its horizons under flagship brands ‘Pigeon’ and ‘Gilma’, in addition to strengthening its collaboration for ‘Black+Decker’. These brands offer a broad range of kitchen and home products, targeting value, semi-premium and premium segments.With focus on aspirational yet affordable products, the company further diversified portfolio to include a new range of home solutions, air fryers, OTG, induction cooktops, gas stoves, sandwich makers, panini griller, irons, and pressure cookers.

The launch of imperi cast iron range, spurred ‘Pigeon’ to grow its footprints in the alternative cookware segments other than non-stick. Marking a noteworthy accomplishment, Pigeon Air Fryers became the first-ever air fryer to be Made in India, supported by a fully-backward integrated facility. Beyond the company’s dominant presence in India, the company has successfully grown global with its products retailed in US, Mexico, South East Asian countries and Gulf nations. Furthermore, it has established OEM partnerships in the USA and Mexico. The company has established a strong pan India presence in 28 States and 6 Union Territories (UTs). It exports its products to 14 countries across the globe with 12.2 per cent of sales generated through exports. Buy on declines for target price of Rs1,500 in medium term.