Stove Kraft rises after opening retail store in Bengaluru

Stove Kraft gained 1.47% to Rs 526.40 after the company announced the opening of its first owned and operated retail store in Frazer town of Bengaluru.

Stove Kraft said the store will offer entire range of products including cookware, cooktops, small appliances and LED products sold under Pigeon brand.

"Over next 12-18 months, the company is expected to open 35-40 such additional company owned and company operated retail stores in the state of Karnataka," the firm said in a statement.

Rajendra Gandhi, managing director of Stove Kraft said, "This is an important milestone in the growth journey of Stove Kraft and underlines strong consumer sentiment and business environment. Through these stores, Stove Kraft will continue to offer diversified product portfolio at an attractive price point to its customers."

Stove Kraft is engaged in the manufacturing and retail of a wide and diverse suite of home and kitchen solutions under the Pigeon and Gilma brands. It proposes to commence manufacturing of home and kitchen solutions under the BLACK + DECKER brand.

On consolidated basis, the company reported a net profit of Rs 19.21crore as against a net loss of Rs 10.25 crore in Q4 FY22 over Q4 FY21. Net Sales grew 52.9% year on year to Rs 235.44 crore in the quarter ended 31 March 2022.

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