Buy Stove Kraft, target price Rs 950: Angel Broking

Angel Broking has buy call on Stove Kraft with a target price of Rs 950. The current market price of Stove Kraft Ltd. is Rs 822.

Time period given by analyst is one year when Stove Kraft Ltd. price can reach defined target. Stove Kraft Ltd., incorporated in the year 1999, is a Small Cap company (having a market cap of Rs 2678.04 Crore) operating in Consumer Durables sector.

For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 236.24 Crore, down -19.85 % from last quarter Total Income of Rs 294.76 Crore and up 53.24 % from last year same quarter Total Income of Rs 154.17 Crore. Company reported net profit after tax of Rs 19.21 Crore in latest quarter.

Investment Rationale
Stove Kraft Ltd (SKL) is engaged in the business of manufacturing & selling Kitchen & Home appliances products like pressure cookers, LPG stoves, non-stick cookware etc. under the brand name of ‘Pigeon’ and ‘Gilma’. In the Pressure Cookers and Cookware segment, over the last two years, the company has outperformed Industry and its peers. Post Covid, organized players are gaining market share from unorganized players which would benefit the player like SKL. Going forward, the brokerage expects SKL to report healthy top-line & bottom-line growth on the back of new product launches, strong brand name and wide distribution network.

(Disclaimer: Views and recommendations given in this section are the analysts’ own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.

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