Stovekraft
Indian cooking appliances manufacturer From Wikipedia, the free encyclopedia
Stovekraft is an Indian company that manufactures cooking appliances under Skava, Pigeon and Gilma brands. The company was founded in 1999 and is headquartered in Bangalore, Karnataka. Among its cooking appliances are mixer grinders, pressure cookers, cooktops, toasters, chimneys and kitchen utensils.[4][5] It sells its products in 23 states in India and 12 countries overseas.[6][7]
 | This article reads like a press release or a news article and may be largely based on routine coverage. (December 2020) |
| Company type | Public |
|---|---|
| NSE: STOVEKRAFT BSE: 543260 | |
| Founded | 1999 |
| Founder | Rajendra Gandhi |
| Headquarters | , India |
Key people | Rajendra Gandhi (Chairman & MD) Neha Gandhi (Director)[1] Nannuri Swamy (National Service Head) Naveen Kumar(Service Manager)[2] |
| Products | Kitchen appliances, cookware |
| Revenue | ₹1,005 crore (US$120 million) (FY 2023 9 Months )[3] |
| Website | www |
History
Summarize
Perspective
Stovekraft operates two manufacturing plant in India including Bangalore, Karnataka, and Baddi, Himachal Pradesh.[8] Around 80 percent of Stovekraft's employees reportedly are women.[9]
In 2017, Stovekraft entered a licensing agreement with American home appliances manufacturer Black+Decker to sell the latter's products in the Indian market.[10][11]
In 2019, the company appointed Rajiv Mehta, the former MD of Puma, as its CEO.[12]
In March 2023 Rajiv Mehta exited from Stovekraft as its CEO.[13]
The company launched its initial public offering (IPO) in January 2021, raising more than ₹412 crore (US$48 million).[14] The company was listed on the NSE and BSE on 5 February 2021.[15]
Stovekraft Shares plunges 4% on 22 November 2023 as Income Tax sleuths search premises at harohalli industrial area. [16]
Stovekraft which manufactures products under brands Black and Decker, Skava, Pigeon and Gilma — reported a net loss of Rs 6 crore for the last quarter of the financial year 2022-23, as against a net profit of Rs 8.6 crore for the corresponding period a year ago. due to excessive expenditure on service. Onedios was taken onboard as an outsourced field and software service partner for 2.6 Cr per month enchaining onedios service platform and pan India presence. [17]
References
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