Stove Kraft

** Shares of India's Stove Kraft STOE.NS rise as much as 2.78% to 754.70 rupees, their highest levels since February 12, 2025

** Stock last up 1.91% at 750 rupees

** Emkay Financial ("buy") raises target price to 900 rupees from 700 rupees

** Expects revenue and EBITDA to grow at CAGR of 18% and 24%respectively, over FY26-28

** Sees export growth driven by supplies to IKEA, new business from Walmart

** Expects margins to expand by about 100 bps by FY28 and return ratios to improve to above 15% from about 10% over the past 2-3 years

** YTD stock up 30.42%

(Reporting by Surbhi Misra in Bengaluru)

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May 12 (Reuters) - Stove Kraft Ltd STOE.NS:

• STOVE KRAFT LTD - RECOMMENDS FINAL DIVIDEND OF 3.50 RUPEES PER SHARE FOR FY ENDED MARCH 31, 2026

Source text: ID:nBSE4ds9rF

Further company coverage: STOE.NS

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** Indian induction stove maker Butterfly Gandhimathi Appliances BUTT.NS surges about 11% to 658 rupees

** BUTT is among the biggest gainers across the National Stock Exchange of India

** Peer Stove Kraft STOE.NS jumps 7.3%, while TTK Prestige TTKL.NS is up 2.2%

** Stocks surge amid rising demand for induction stoves due to conflict-driven shortage of liquefied petroleum gas, or cooking gas

** Kitchen appliance stocks buck broader market weakness as Middle East conflict escalates, with Nifty 50 .NSEI index down 3.5% and set for its worst day since June 2024 .BO

** STOE, BUTT up over 8% each since conflict began end-February, TTKL is down 6.7%, while Nifty 50 index has dropped 8.8%

(Reporting by Nandan Mandayam in Bengaluru)

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By Praveen Paramasivam

CHENNAI, March 12 (Reuters) - Indian households are rushing to buy electric induction stoves, draining stocks online and in stores, amid fears of a potential cooking gas shortage tied to the Middle East conflict.

India, the world's ​second-largest importer of liquefied petroleum gas (LPG), has invoked emergency powers to boost supplies for households even as availability tightens for commercial users including canteens, hostels and restaurants.

Meanwhile, consumers are buying electric cooking appliances as a precaution, with some households worried about refill delays and higher prices.

Checks by Reuters on Thursday showed several induction stove models were unavailable on Amazon AMZN.O, Walmart-backed WMT.O Flipkart, Eternal's ETEA.NS Blinkit and Zepto, while some offline chains said fresh supplies were still days away.

Induction stove sales on Amazon India have jumped more than 30-fold, while rice cookers and electric pressure cookers are up fourfold, a company spokesperson said.

Kitchen appliances maker TTK Prestige TTKL.NS said demand for induction stoves had surged far beyond supply.

"There is a threefold surge (in demand)," CEO Venkatesh Vijayaraghavan told Reuters.

The company has raised its production capacity to 100% from about 70% before the start of the war, and increased staffing by roughly 15%. It also plans to raise prices of induction stoves in the June quarter to offset any higher costs.

Induction stoves accounted for about a tenth of TTK's 25.30 billion rupees ($274.52 million) standalone revenue in 2024–25.

Online shopping platforms also showed models from Butterfly CROP.NS, Havells India HVEL.NS and Bajaj Electricals BJEL.NS marked as "currently unavailable".

Google Trends showed search interest for induction stoves hit a record high on March 12, while some restaurant chains, including Wow Momo and California Burrito, said they were exploring induction stoves as a contingency plan.

Anand Rathi analyst Manish Valecha said large kitchen appliance makers with domestic assembly and strong distribution, including TTK Prestige, Butterfly and Stove Kraft STOE.NS, are best placed to benefit from the surge in induction cooktop demand. But reliance on imported components could pose supply risks if the spike persists, he added.

TTK Prestige will switch from sea shipments to airlifting components sourced from China and Southeast Asia, absorbing higher costs to ensure supplies if disruptions persist, Vijayaraghavan said.

The Middle East conflict has disrupted shipping through the Strait of Hormuz and the Gulf, raising costs and tightening oil and gas supplies from the Middle East. O/R

On Thursday, the Suezmax tanker Shenlong reached Mumbai with Saudi crude, becoming the first crude carrier to arrive in India from the Middle East since the war between Iran and the United States and Israel erupted in late February, LSEG data showed.

($1 = 92.1625 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai; Editing by Dhanya Skariachan and Leroy Leo)

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** Shares of Indian induction cooktop makers rise as much as 15.4%

** Stove Kraft STOE.NS up 12.5%, Havells India HVEL.NS rises 0.5% and Butterfly Gandhimathi Appliances BUTT.NS up 15.4%

** India has invoked emergency provisions and instructed oil refiners to ramp up liquefied petroleum gas output to avoid a potential shortage as Middle East war disrupts supplies

** Stove Kraft up 1.9%, Butterfly gains 1.5% so far this week; both on track to break three‑week losing streak

** HVEL up 0.7%, on course to snap two consecutive weeks of losses

(Reporting by Meenakshi Maidas in Bengaluru)

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** Shares of Stove Kraft STOE.NS rise 2.7% to 725 rupees apiece

** Kitchen appliance maker announces plans to scale its retail footprint, targeting 500 exclusive stores by April 2027

** The company has 300 exclusive outlets as of now

** With standalone retail stores estimated to contribute to nearly 15%-20% of revenue over the next two years, the addition of 200 exclusive stores will be a significant growth driver, says STOE's management

** According to a Deloitte-FICCI report, India's retail market, valued at $1.06 trillion in 2024, is projected to nearly double to $1.93 trillion by 2030

** STOE shares are down 19.4% in 2025 so far, exchange data shows

(Reporting by Bharath Rajeswaran in Bengaluru)

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Feb 3 (Reuters) - Stove Kraft Ltd STOE.NS:

• STOVE KRAFT LTD DEC-QUARTER PROFIT 121.4 MILLION RUPEES

• STOVE KRAFT LTD DEC-QUARTER REVENUE FROM OPERATIONS 4.04 BILLION RUPEES

Source text: ID:nBSE7RMX30

Further company coverage: STOE.NS

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Dec 19 (Reuters) - Stove Kraft Ltd STOE.NS:

• SUPPLY PARTNERSHIP WITH IKEA

• WILL DEVELOP A RANGE OF COOKWARE TO BE SOLD THROUGH IKEA'S GLOBAL NETWORK OF STORES FROM 2026

Source text: ID:nBSE51Qg2z

Further company coverage: STOE.NS

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** Shares of Stove Kraft Ltd STOE.NS rise as much as 4% to 789 rupees

** The 'Pigeon' cooker-maker says it commissioned a cast iron foundry at its Harohalli factory in Karnataka at a cost of 400 mln rupees ($4.8 mln)

** More than 56,000 shares traded as of 1:13 p.m. IST, nearly half of their 30-day moving average of 114,548 shares

** STOE last up 3.1%, adding to YTD gains of 73.8%

($1 = 84.2950 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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Nov 25 (Reuters) - Stove Kraft Ltd STOE.NS:

• STOVE KRAFT - COMMISSIONED NEW CAST IRON FOUNDRY AT HAROHALLI FACTORY

• STOVE KRAFT - FOUNDRY'S INSTALLED CAPACITY TO RISE TO 4.4 MILLION PIECES PER ANNUM IN FUTURE

Further company coverage: STOE.NS

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Oct 28 (Reuters) - Stove Kraft Ltd STOE.NS:

• STOVE KRAFT SEPT-QUARTER PROFIT 167.2 MILLION RUPEES

• STOVE KRAFT SEPT-QUARTER REVENUE FROM OPERATIONS 4.18 BILLION RUPEES

Source text: [ID:]

Further company coverage: STOE.NS

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** Shares of Havells India HVEL.NS down 1.6%; trading between gains of 2% and losses of 2.1%

** Co on Tuesday said it plans to expand its product portfolio with offering of kitchen appliances such as cooktops and chimneys

** Adds it expects to launch products in May; targets becoming one of top 3 players over next 3 years

** CLSA says competitive intensity to rise in large kitchen appliances segment with co's entry, CNBC-TV18 and Moneycontrol report

** CLSA says if co grabs a 10% market share, it could add 45-70 rupees to earnings per share, reports say

** Analysts' avg recommendation on HVEL is equivalent to 'buy' - LSEG

** Avg recommendation on Stove Kraft STOE.NS is 'strong buy', Crompton Greaves CROP.NS has 'buy' and TTK Prestige TTKL.NS rated 'hold' - LSEG

** HVEL up ~11% YTD, STOE climbed 6.7%

** CROP down 6.8% YTD, while TTKL declined 3.6%

(Reporting by Rama Venkat in Bengaluru)

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Nov 27 (Reuters) - Stove Kraft Ltd STOE.NS:

• MANUFACTURING OPERATIONS AT BENGALURU PLANT, BADDI PLANT RESUMED

Source text for Eikon: ID:nBSE3xlBVg

Further company coverage: STOE.NS

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** Shares of Stove Kraft Ltd STOE.NS fall as much as 4.2% to 496 rupees

** The appliance maker says India's Income Tax department is conducting a search at some of the co's premises and plants

** More than 124,678 shares change hands by 01:55 p.m. IST, 1.2x its 30-day avg

** Stock down 1.4% YTD

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Shares of India's Stove Kraft STOE.NS up as much as 5.17% at 495 rupees

** Home and kitchen appliances maker posted nearly 1.5% rise in June-qtr profit, while rev from ops climbed more than 8%

** Co named Ramakrishna Pendyala as CFO

** Co shares trading above 50-day and 100-day simple moving averages

** More than 260,072 shares changed hands by 11:42 a.m IST, 1.2X 30-day avg

** YTD stock has fallen ~4%

(Reporting by Hritam Mukherjee in Bengaluru)

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July 13 (Reuters) - Stove Kraft Ltd STOE.NS:

• STOVE KRAFT LTD - BALAJI A S RESIGNS AS CFO

Source text for Eikon: ID:nBSEG6XWN

Further company coverage: STOE.NS

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** Brokerage JM Financial says electrical consumer durables to see recovery in growth on the back of higher disposable incomes and low food inflation

** India's macro environment continues to be stable, rural demand scenario shaping up well - JM Financial note

** Stable raw material prices should "alleviate margin pressure", premiumisation and operating leverage to help margins, note says

** Brokerage says tepid demand in appliances continued in Q1FY24, unseasonal rains in March/May impacted channel offtake

** We remain positive for medium to long-term, given macro tailwinds, low penetration for some of the categories and category expansion opportunities - JM Financial analysts

** Rating house maintains "buy" on Bajaj Electricals BJEL.NS, V-Guard Industries VGUA.NS, Havells HVEL.NS and Stove Kraft STOE.NS; "hold" on Crompton Greaves Consumer Electricals CROP.NS and TTK Prestige TTKL.NS

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of Stove Kraft Ltd STOE.NS fall as much as 2.6% to 428.05 rupees, their lowest in a week

** On Wednesday, the kitchen and home solutions firm said Balaji A S resigned from his position as chief financial officer

** About 179,814 shares change hands by 1:41 p.m. IST, 0.5x the 30-day avg of 388,838 shares - Refinitiv Data

** Stock last down ~2%, extending YTD losses to 14.9%

** Stock currently trading below its 50-, 100-, and 200-day exponential moving averages

** About 179,814 shares change hands by 1:41 p.m. IST, 0.5x the 30-day avg of 388,838 shares - Refinitiv Data

** Moving Average Convergence Divergence (MACD) line of the stock is under the signal line for eight straight sessions, suggesting bearish bias

(Reporting by Priya Sagar in Bengaluru)

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** Shares of kitchen and home solutions firm Stove Kraft Ltd STOE.NS fall as much as 12.3% to 438 rupees, mark sharpest intraday pct loss since Feb. 3

** Co on Monday reported a Q4 loss of 60 mln Indian rupees ($725,675.04) vs profit of 86.5 mln rupees yr ago

** Rev from ops rose 6.4% Y/Y, but total expenses rose ~14.1% due to rise in input costs

** Share price below 200-day simple moving averages but above 50-day and 100-day SMAs

** More than 950,000 shares change hands by 10:51 a.m. IST, 2.5x 30-day avg of 375,279 shares

** Both analysts covering the stock have a "strong buy" rating; median PT is 587.50 rupees - Refinitiv data

** Including session's loss, stock down 11.9% YTD

($1 = 82.6816 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

May 29 (Reuters) - Stove Kraft Ltd STOE.NS:

• INDIA'S STOVE KRAFT LTD MARCH-QUARTER LOSS 60 MILLION RUPEES VERSUS PROFIT 86.5 MILLION RUPEES YEAR AGO

• STOVE KRAFT LTD MARCH-QUARTER REVENUE FROM OPERATIONS 2.78 BILLION RUPEES VERSUS 2.61 BILLION RUPEES YEAR AGO

• STOVE KRAFT - NAMES SHUBA RAO MAYYA AS CHAIRPERSON

Source text for Eikon: [ID:]

Further company coverage: STOE.NS

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** Shares of kitchen and home solutions firm Stove Kraft Ltd STOE.NS rise as much as 3.8% to 392.90 rupees

** Emerging Business Fund bought 303,047 shares of STOE in a bulk deal on Tuesday - stock exchange data

** Trade price for the deal was 373 rupees per share

** If trends hold, stock on track to advance for second consecutive sessions

** About 150,000 shares change hands by 9:47 a.m. IST, vs 30-day avg of 391,777 shares - Refinitiv Data

** Moving Average Convergence Divergence (MACD) line of the stock is over the signal line, suggesting bullish momentum

(Reporting by Priya Sagar in Bengaluru)

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