Stove Kraft Limited (STOVEKRAFT) Financial Results — Revenue ₹414.5 Cr

Investor Takeaways

Revenue reached ₹414.5 Cr, reflecting 32.4% YoY growth driven by small appliances and induction cooktops.

Net Profit was ₹6.1 Cr, representing a 317.8% YoY increase with PAT margin at 1.5%.

Gross margin improved to 38.6% in Q4 and 38.7% for the full fiscal year.

EBITDA grew 33.9% YoY, supporting margin maintenance.

Export competitiveness improved due to U.S. tariff reduction from ~50% to ~18%.

OEM exports contributed 8.7% of Q4 revenue, and e-commerce accounted for 34.3% of sales.

Capacity for induction cooktops is targeted to double to 4-5 million units annually with INR40 crore planned capex.

Management targets >15% revenue growth and sustained 11% EBITDA margins.

Overall Tone: Neutral

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹414.5 Cr	32.4%
Net Profit	₹6.1 Cr	317.8%
EBITDA	Not available	33.9%
EPS	Not available	Not available
OPM	Not available	Not available

What Changed

Stove Kraft Limited reported a 32.4% year-on-year increase in revenue for Q4 FY26, reaching ₹414.5 Cr, primarily driven by growth in small appliances and induction cooktops. Net Profit surged 317.8% YoY to ₹6.1 Cr, with profit after tax margin reaching 1.5%. The company’s gross margin expanded to 38.6% in Q4 and 38.7% for the full fiscal year, indicating improved cost efficiency. EBITDA grew 33.9% YoY, reflecting stronger operational performance. The business benefited from improved export competitiveness following a reduction in U.S. tariffs from approximately 50% to 18%, which enhanced international pricing advantage. OEM exports contributed 8.7% of Q4 revenue, and e-commerce channels accounted for 34.3% of total sales, underscoring diversification in distribution. Management confirmed plans to double induction cooktop production capacity to 4–5 million units annually, supported by INR40 crore in planned capital expenditure. Forward guidance includes targeting over 15% revenue growth and maintaining 11% EBITDA margins, with IKEA-related revenue expected to scale from INR40–50 crore to INR200–250 crore annually. The company’s financial performance reflects strong demand momentum in core product segments and successful execution of export and digital sales strategies.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Stove Kraft Limited	43.54	Not available	Not available	1,828.35
Titan Company Limited	77.59	41%	34.34%	3,70,126.93
Asian Paints Limited	64.95	19.82%	25.99%	2,49,928.58
LG Electronics India Limited	N/A	N/A%	N/A%	1,07,232.46

Stove Kraft’s P/E ratio of 43.54 is lower than Titan and Asian Paints, suggesting relatively moderate valuation compared to peers, though direct comparability is limited due to differences in business models and profitability levels.

Risks & Concerns

No specific risks were highlighted in the filing. The company emphasized positive growth drivers and capacity expansion plans without drawing attention to operational or market-related concerns.

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q4FY21	₹235.44	₹19.21	10.71%

Note: Quarterly trend data is limited to one prior quarter as per provided information. No additional quarterly data was included in the filing context.

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