Stove Kraft IPO (Pigeon Appliances) IPO – Review
Founded in 1999, Stovekraft is a leading cooking appliances manufacturer with ‘Pigeon’ and ‘Gilma’ brands in its kitty.
Stove Kraft Ltd IPO Details & Company Inside Information
Headquartered in Bangalore, Stove kraft is into cooking appliances such as mixer grinders, pressure cookers, cooktops, toasters, chimneys and kitchen utensils.
It sells its products in 23 Indian states along with 14 countries overseas.
Around 80% of Stovekrafts employees reportedly are women. Founded by Rajendra Gandhi, Stove Kraft has fast grown in popularity and with its integrated solution.
It has become every kitchen maker’s dream.
Their flagship brands, Pigeon and Gilma, each having a unique customer proposition and different go-to-market strategies, are widely present and accepted by consumers across the country.
Over 2000 employees of Stovekraft creates masterpieces that provides kitchen solutions to thousands of Indian customers.
In 2017, Stovekraft entered a licensing agreement with American home appliances manufacturer Black+Decker to sell the latters products in the Indian market.
Through relentless efforts, the company has carved a niche for themselves in the overseas market, garnering extensive global presence across Middle East, Kenya, Uganda, Qatar, Sri Lanka, Fiji, Bahrain, Kuwait, Oman and Tanzania. Walmart, Big Lots, and Belk in USA are some of their prestigious clientele.
They have manufacturing facilities in Bangalore and Baddi (Himachal Pradesh) to cater to the customer demands.
As of October 31 st 2019, the brand Pigeon itself contributed 80.86% to their overall sales and for Fiscal 2019, Fiscal 2018 and for the six month period ended September 30, 2019, the same brand contributed 81.24%, 86.89% and 80.86% to overall sales respectively.
As of October 31 st 2019, the six month period ended September 30, 2019 and for Fiscal 2019 and 2018, the brand Gilma contributed 2.34%, 2.36%. 3.75% and 5.58% of overall sales, respectively; whereas BLACK+DECKER products contributed 2.59%, 2.37%, 2.67% and 0.88% of overall sales, respectively.
Stovekraft Ltd – USPs
They have been recognised as one stop shop for well recognised, award winning portfolio of kitchen solutions brands with a diverse range of products across consumer preference.
They have professional management with successful track record and extensive experience in the kitchen solutions industry, and a young and dynamic workforce.
Both of Stovekraft’s brand Pigeon and Gilma, have enjoyed a market presence of over 13 years and has a high brand recall amongst customers for quality and value for money.
Gilma which is targeted at the semi-premium segment, currently offers a wide range of products such as chimney, hobs and cooktops.
The company has a strong dealer network comprising of over 26,000 retail outlets, which are driven through a sales force of 580 personnel.
In addition to independent third-party retail stores, Stovekraft has also partnered with major Indian retailers for the sale of the products.
Stovekraft also seeks to capture the growing demand for LED lighting products with a wide range of consumer lighting products including bulbs, battens, downlight and panels.
Rajendra Gandhi, Managing Director
Neha Gandhi, Executive Director
Repayment/pre-payment, in full or part, of certain borrowings availed by the Company.
General Corporate Purposes.
Stovekraft Ltd DRHP can be accessed here
https://www.stovekraft.com/upload/pdf/DRHP_Filed_version.pdf
Financials of Stovekraft Ltd
| FY 16 | FY 17 | FY 18 | |
| Revenue (in Crores) | 524.79 | 517.95 | 534.58 |
| Net Profit (in Crores) | (-43.9) | (-19.24) | (-12.76) |
Stove kraft IPO Details
| Details | Info |
| Issue Opens on | Will soon be Updated |
| Issue Closes on | Will soon be Updated |
| Issue Price | Will soon be Updated |
| Face Value | Will soon be Updated |
| Retail Category Allocation | Will soon be Updated |
| Minimum Lot | Will soon be Updated |
| Minimum Investment | Will soon be Updated |
| Issue Constitutes | Will soon be Updated |
| Issue Size | Will soon be Updated |
| Market Cap | Will soon be Updated |
| Equity Shares Offered | Will soon be Updated |
| Equity Shares Prior to the Issue | Will soon be Updated |
| Listing at | NSE & BSE |
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
| 6.74 | Will soon be Updated | 7.14% | 94.53 |
Finalization of Basis of Allotment – Will soon be updated
Initiation of Refunds – Will soon be updated
Credit of Equity Shares – Will soon be updated
Listing Date – Will soon be updated
Lead Managers for Stovekraft Ltd IPO
Edelweiss Financial Services Ltd
IDFC Bank Ltd
JM Financial Ltd
| Registrar of Stovekraft Ltd IPO | Company Contact Details |
| Karvy Computershare Pvt Ltd Karvy Selenium, Tower B Plot 31-32, Gachibowli Financial District, Nanakramguda Hyderabad 500 032 Tel: +91 40 6716 2222 E-mail: stovekraft.ipo@karvy.comm Website: www.karvy.com , Contact Person: M Murali Krishna SEBI Registration No.: INR00000022 |
Stovekraft Limited 81/1, Medamarana Halli Village Harohalli Hobli, Kanakapura Taluk Ramanagar District 562 112 Karnataka, India Tel: +91 80 2801 6222 E-mail: info@stovekraft.com Website: www.stovekraft.com |
Other Details of Stovekraft Ltd
Statutory Auditor – Deloitte Haskins & Sells LLP
Peer Review Auditor – Deloitte Haskins & Sells LLP
Bankers to the Company – Standard Chartered Bank
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