Ashish Kacholia stock jumps 6% after reporting 317% YoY increase in net profit

Synopsis: The share of this kitchen appliance company jumped around 6% after reporting strong Q4 FY26 earnings, driven by robust growth in induction cooktops, small appliances, and improving profitability.

The share of this company, which is an Indian manufacturer of kitchen and home appliances, dominating the market with brands like Pigeon, Gilma, and Black+Decker, gained investor traction after posting strong Q4 numbers.

With a market capitalization of Rs 1,831 crore, Stove Kraft Ltd’s shares on Wednesday hit a day high of Rs 581.65 per share, up 6 percent from the day’s low of Rs 548.50 per share. The share of this company has given a return of 13 percent over the last five years, and also has ace investor Ashish Kacholia holding a 1.74 percent stake in the firm.

Results Overview

• QoQ View: On a QoQ basis, the company reported steady growth in Q4 FY26, with revenue increasing by 9.6 percent to Rs 414.5 crore from Rs 378.4 crore in Q3 FY26. EBITDA also improved by 15.1 percent to Rs 39.5 crore compared to Rs 34.3 crore in the previous quarter, while net profit surged by 45.9 percent to Rs 6.1 crore from Rs 4.1 crore.
• YoY View: On a YoY basis, the company delivered strong operational performance in Q4 FY26. Revenue grew by 32.4 percent to Rs 414.5 crore from Rs 313 crore in Q4 FY25. EBITDA increased by 33.9 percent to Rs 39.5 crore from Rs 29.5 crore, while net profit registered a sharp jump of 317.8 percent to Rs 6.1 crore compared to Rs 1.4 crore in the same quarter last year.
• Fiscal Year Comparison: For FY26, the company reported healthy growth across key financial metrics. Revenue increased by 10.9 percent to Rs 1,607.4 crore from Rs 1,449.8 crore in FY25. EBITDA rose by 10.3 percent to Rs 166.1 crore compared to Rs 150.7 crore, while EBITDA margin stood at 10.3 percent against 10.4 percent in FY25.  Net profit grew by 9.1 percent to Rs 42 crore from Rs 38.5 crore, with PAT margin at 2.6 percent compared to 2.7 percent in the previous fiscal year.

Segment Performance in Q4

• Strong Growth in Induction and Cookware Segments During Q4 FY26, the company reported strong growth across major product categories, led by the induction cooktop segment. Revenue from induction cooktops increased by 89.4 percent YoY, while volume growth stood at 67.3 percent. Non-stick cookware also delivered healthy performance with value growth of 49.6 percent and volume growth of 23.5 percent during the quarter.
• Pressure Cookers and Small Appliances Drive Demand: The pressure cooker category recorded robust growth, with revenue increasing by 44.7 percent YoY and volume growth of 39.7 percent in Q4 FY26. Small appliances witnessed comparatively moderate value growth of 12.7 percent, but volumes surged sharply by 97.7 percent, indicating rising consumer demand and wider market penetration across product categories.
• Revenue Mix in Q4 FY26 In terms of revenue contribution, small appliances remained the company’s largest segment in Q4 FY26, contributing 40 percent of total revenue. Pressure cookers accounted for 22 percent, followed by non-stick cookware at 16 percent and induction cooktops at 15 percent. Gas cooktops contributed the remaining 6 percent to the overall revenue mix.
• Channel-Wise Revenue Performance During Q4 FY26, e-commerce remained the company’s largest revenue channel, contributing 34 percent of total revenue, followed closely by General Trade at 32.3 percent. Modern Retail contributed 11.3 percent, while Own Retail and OEM segments accounted for 9 percent and 8.7 percent of overall revenue, respectively.
• Retail Expansion and Customer Growth The company expanded into 13 new cities during the quarter, strengthening its market presence across emerging regions. It operated 329 stores across 22 states and 151 cities in India, including 34 franchise stores. During Q4 FY26, the company added 147,870 new customers, sold 316,524 units, and recorded an average monthly sales value of Rs 4.42 lakh per store.

Management Commentary

Managing Director Rajendra Gandhi stated that the company delivered a strong Q4 FY26 performance supported by rising demand for electric cooking appliances, improving operational efficiencies, and disciplined cost management. Revenue increased by 32.4 percent YoY to Rs 414.5 crore, while EBITDA grew by 33.9 percent to Rs 39.5 crore during the quarter.

He further highlighted that elevated LPG prices and global supply disruptions accelerated consumer adoption of products such as induction cooktops, rice cookers, and air fryers. The company also expanded its innovation pipeline with new product launches and continued strengthening its omnichannel presence and export business for long-term growth.

About the Business

StoveKraft Ltd was incorporated in 1999 by Mr. Rajendra Gandhi. It manufactures a wide range of kitchen solutions under Pigeon (value), Gilma (semi-premium) brands, and acts as an exclusive partner for kitchen appliances of the BLACK + DECKER (premium) brand. 

The products comprise cookware and cooking appliances, while the home solutions consist of various household utilities, including the recently introduced LED bulbs, oximetry, etc.

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