Stove Kraft Ltd

Stove Kraft Limited was incorporated as Stove Kraft Private Limited on June 28, 1999 at Bengaluru, Karnataka, India as a private limited company and commenced its business on June 28, 1999. Subsequently, the company was converted into a public limited company pursuant to a special resolution passed by the shareholders at the EGM on May 28, 2018, and the name of the Company was changed from Stove Kraft Private Limited to Stove Kraft Limited on August 13, 2018.The Company is a kitchen solutions and an emerging home solutions brand. Further, It is one of the leading brands for kitchen appliances in India, and are one of the dominant players for pressure cookers and amongst the market leaders in the sale of free standing hobs and cooktops. It is engaged in the manufacture and retail of a wide and diverse suite of kitchen solutions under its Pigeon and Gilma brands, and propose to commence manufacturing of kitchen solutions under the BLACK + DECKER brand, covering the entire range of value, semipremium and premium kitchen solutions, respectively. The Companys kitchen solutions comprise of cookware and cooking appliances across its brands, and its home solutions comprise various household utilities, including consumer lighting, which not only enables it to be a one stop shop for kitchen and home solutions, but also offer products at different pricing points to meet diverse customer requirements and aspirations.The Companys flagship brands, Pigeon and Gilma, have enjoyed a market presence of over 15 years and enjoy a high brand recall amongst customers for quality and value for money. Pigeon has been listed as one of the Indias Most Admired Brands 2016 by White Page International. As a result of its cobranding initiatives over eight years with LPG companies such as Indian Oil Corporation Limited and Hindustan Petroleum Corporation Limited to utilize their sale and distribution channels, its Pigeon brand has enjoyed a wide customer outreach and continues to have a high brand recall value. The Company manufactures and retails a wide and diverse range of affordable (value segment), quality products under its Pigeon brand, including, inter alia, cookware, cooking appliances and household utilities (including consumer lighting). The Company currently offers a wide range of products such as chimney, hobs and cooktops under the Gilma brand, which is targeted at the semipremium segment.The Company has a separate distribution network for each of its Pigeon, Gilma and BLACK + DECKER brands. Further, there is a separate distribution network for the Pigeon LED products. As of September 30, 2020, its manufacturing facilities in Bengaluru and Baddi are well connected with nine strategically located CF agents. Additionally, the company has 651 distributors in 27 states and five union territories of India and 12 distributors for its products that are exported as of September 30, 2020. As of September 30, 2020, the CF agents and distributors are, in turn, connected with a dealer network comprising of over 45,475 retail outlets, which are driven through a sales force of 566 personnel. The Company has entered into commercial arrangements with retail chains such as Metro Cash And Carry India Private Limited for the sale of its Pigeon branded products from several of their retail outlets in India. Further, It has also entered into agreements with ecommerce platforms such as Flipkart India Private Limited for the sale of its products on their portals. Outside of India, the company exports its products which are manufactured by it to retail chains in the United States of America and Mexico.The Companys Gilma brand products are sold through exclusively branded outlets owned and operated by franchisees. As of September 30, 2020, there were 65 such stores spread across four states and 28 cities and towns, with a presence in the urban market in south India. Gilma stores are designed to be experience stores.The Company was founded by its Promoter, Rajendra Gandhi, a first generation entrepreneur with over 21 years of experience in the kitchen appliances industry. The Company believes that the sectorspecific experience and expertise of its senior management has contributed significantly in the growth of the Company.