Being a well-known manufacturer and retailer in the Indian kitchen appliances market, the company (NSE: STOVEKRAFT) owns three large brands namely, Pigeon, Gilma, and BLACK+DECKER. The company is one of the dominant players in the pressure cooker, free-standing hob, non-stick cookware, and cooktop segments and has a foothold in 27 Indian states and 5 Union territories. Additionally, being an exporter to 12 countries worldwide, the company genertaes10% of sales through exports. It has also established OEM partnerships in the U.S. and Mexico.
Financial Results:
Stove Kraft Ltd.’s revenue in Q3FY23 rose 9% to ₹ 325 crores. Consolidated Loss After Tax came at ₹ 7.8 crores. In this quarter’s results, the reports suggested that the fall in profits are due to the negative other income reported in Q3FY23.