Stove Kraft witnessed a significant 66.6% decline in profit for the December quarter, attributed to subdued demand in the consumer durables market. The company’s net profit fell to Rs 4 crore compared to the previous year, as per its stock exchange filing.
Revenue also saw a downturn, decreasing by 6.4% to Rs 378.3 crore in comparison to the same period in the previous financial year. The company’s EBITDA dropped by 15% to Rs 34.2 crore, leading to a narrowed operating margin of 9%.
Stove Kraft highlighted that pressure cookers and small appliances contributed around 30% to its total revenue during the quarter. Despite facing challenges, the company expanded its retail footprint by adding 17 new stores, bringing the total to 313 outlets across 21 states and 138 cities.
The company’s financials were impacted by one-time expenses, including Rs 1.24 crore towards gratuity provision and leave encashment due to the new labor code implementation. Additionally, a forex loss of Rs 1.90 crore was recorded in its stock exchange filing.
Managing Director Rajendra Gandhi acknowledged the tough business environment but praised the company’s resilient performance. He attributed this to strong execution and operational efficiency that supported the business during the quarter.
In the first nine months of FY26, Stove Kraft reported a revenue of Rs 1,192.9 crore, marking a 4.9% increase from the same period in the previous financial year. The company noted an improvement in gross margins to 38.8% and highlighted a 9.7% year-to-date growth for its flagship brand, Pigeon.
Stove Kraft also mentioned a reduction in working capital days to 43 days in its exchange filing. Looking forward, the company aims to achieve its target of establishing 500 standalone Exclusive Pigeon Stores by the year 2027 through a combination of company-owned and franchise-operated models.
