About Stove-Kraft

a. Founded in the year 1999, Stove-Kraft has grown from a single brand small LPG stove manufacturing company to become one of India’s leading manufacturers of kitchen appliances, with revenue from operations of ₹670 Crores in FY20.

Stove- Kraft Limited is a kitchen solutions and an emerging home solutions brand in India. It is one of the leading brands for kitchen appliances in India, and one of the dominant players for pressure cookers and amongst the market leaders in the sale of free standing hobs and cooktops (Source: F&S Report, sponsored by our Company).

b. Stove-Kraft is engaged in the manufacture and retail of a wide and diverse suite of kitchen solutions under Pigeon and Gilma brands, and propose to commence manufacturing of kitchen solutions under the BLACK + DECKER brand, covering the entire range of value, semi-premium and premium kitchen solutions, respectively.

c. The kitchen solutions comprise of cookware and cooking appliances across the brands, and the home solutions comprise various household utilities, including consumer lighting.

Brand wise sales in FY19-20

a) Pigeon (Semi-Premium) brand under which company sell free standing hobs, cooktops, non-stick cookware, LPG gas stoves and induction cooktops contributes 86% of the total sales.

b) Gilma (Semi-Premium) brand under which company sell chimneys, hobs and cooktops contributes 5% of the total sales.

c) BLACK + DECKER (Premium brand) under which company sells blenders and juicers, breakfast appliances, small cooking appliances and small domestic appliances contributes 3% of the total sales.

In 2016, they further diversified the Pigeon brand by launching LED products under it and in 2019, commenced manufacturing LED products at the Bengaluru Facility and in the same year, they have also entered the premium segment in 2016 pursuant to exclusive BLACK + DECKER Brand Licensing Agreement with Stanley Black & Decker, Inc. and The Black and Decker Corporation, which enables them to exclusively retail, and provide post-sales services in relation to, a wide range of products such as blenders and juicers, breakfast appliances, small cooking appliances and small domestic appliances (as defined under the BLACK + DECKER Brand Licensing Agreement) in India under the BLACK + DECKER brand, up to December 31, 2027.

Where they manufacture product?

Stove-Kraft has two manufacturing facilities at Bengaluru (Karnataka) and Baddi (Himachal Pradesh).

a) Bengaluru Facility is spread over approximately 120 46 acres and five guntas, out of which 30 acres and one gunta is available for future expansion. As of September 30, 2020, it had an installed annual production capacity of 38.40 million units, with the capability to manufacture products in the pressure cookers, non-stick cookware (roller coated and spray coated), LPG stoves, mixer grinders, LED bulbs, iron and induction cooktops categories.

b) Baddi Facility, focused on the Oil Company Business, which includes manufacturing and co-branding of products with such Companies, (“OCB”) has an installed capacity of 2.80 million units per annum, with the capability to manufacture products such as LPG stoves and inner lid cooker.

How they sell products?

As of September 30, 2020, they have separate distribution network for each Pigeon, Gilma and BLACK + DECKER brands. They have 651 distributors in 27 states and five union territories of India and 12 distributors for the products that are exported. The dealer network further comprising of over 45,475 retail outlets, which are driven through a sales force of 566 personnel.