Stove Kraft Q4 FY26: PAT Jumps 317.8%, Revenue Up 32.4% YoY

Stove Kraft Limited has announced its consolidated audited financial results for Q4 FY26, reporting a significant surge in net profit and revenue on a year-on-year basis. The board has recommended a final dividend of ₹3.50 per equity share for the financial year, subject to shareholder approval at the ensuing Annual General Meeting. These results were considered and approved at the board meeting held on May 12, 2026, with the audit conducted by Price Waterhouse Chartered Accountants LLP, who have issued an unmodified opinion on the financial results.

Q4 FY26 Financial Performance

Stove Kraft delivered a strong quarterly performance, with net profit rising 317.8% and revenue recording healthy growth of 32.4% year-on-year. The company also reported a Gross Profit of ₹160.2 crores, up 32.6% YoY, with a Gross Profit margin of 38.6%. The following table summarises the key financial metrics for Q4 on a year-on-year and sequential basis:

Metric: Q4 FY26 Q4 FY25 YoY Growth Q3 FY26 QoQ Growth Revenue (₹ Cr): 414.5 313.0 32.4% 378.4 9.6% Gross Profit (₹ Cr): 160.2 120.8 32.6% 149.2 7.4% Gross Profit %: 38.6% 38.6% — 39.4% — EBITDA (₹ Cr): 39.5 29.5 33.9% 34.3 15.1% EBITDA %: 9.5% 9.4% — 9.1% — PAT (₹ Cr): 6.1 1.4 317.8% 4.1 45.9% PAT %: 1.5% 0.5% — 1.1% —

While net profit and revenue saw strong year-on-year growth, the EBITDA margin remained relatively stable at 9.5% compared to 9.4% in the corresponding previous period. A forex loss due to volatility of ₹5.67 Cr was recorded for Q4 FY26. The audited financial statements report a profit for the quarter of ₹60.51 million, with basic and diluted earnings per share of ₹1.83 for the quarter.

Full-Year FY26 Performance

For the full financial year, Stove Kraft reported revenues of ₹1,607.4 crores, up 10.9% from ₹1,449.8 crores in FY25. The following table presents the key annual financial metrics:

Metric: FY26 FY25 YoY Growth Revenue (₹ Cr): 1,607.4 1,449.8 10.9% Gross Profit (₹ Cr): 622.5 552.4 12.7% Gross Profit %: 38.7% 38.1% — EBITDA (₹ Cr): 166.1 150.7 10.3% EBITDA %: 10.3% 10.4% — PAT (₹ Cr): 42.0 38.5 9.1% PAT %: 2.6% 2.7% —

For the full year, the audited profit was ₹419.91 million, with basic EPS of ₹12.69 and diluted EPS of ₹12.69. A forex loss due to volatility of ₹8.37 Cr was recorded for the full year FY26. Total comprehensive income for the year stood at ₹422.47 million, compared to ₹382.88 million in the previous year.

Operational Highlights

The company reported robust growth across several product categories during the quarter. Induction Cooktops led the growth with an 89.4% increase in value and 67.3% in volume, while Non-stick Cookware and Cookers also showed significant momentum.

Product Category: Growth Val (YoY) Growth Vol (YoY) Induction Cooktops: 89.4% 67.3% Non-stick Cookware: 49.6% 23.5% Cooker: 44.7% 39.7% Small Appliance: 12.7% 97.7% Gas Cooktops: 9.4% 3.6%

The revenue breakup for Q4 FY26 by product category was as follows:

Product Category: Revenue Share Small Appliances: 40% Pressure Cookers: 22% Nonstick Cookware: 16% Gas Cooktop: 15% Induction Cooktop: 6%

Channel-Wise Performance

Stove Kraft's omnichannel strategy continued to gain traction during the quarter. E-commerce was the largest revenue contributor, followed closely by General Trade. The channel-wise revenue breakup for Q4 FY26 is as follows:

Channel: Revenue Share (%) General Trade (GT): 32.3% Modern Retail (MR): 11.3% E-Commerce (ECOM): 34.0% Own Retail: 9.0% OEM: 8.7%

The company expanded into 13 new cities during the quarter, further strengthening its presence across key regions. As of Q4 FY26, 329 stores are operational across 22 states and 151 cities in India, with 16 new stores added in the quarter and 34 stores under the franchisee model. The average sale per store stood at ₹4.42 lakhs per store per month. A total of 147,870 new customers were added during the quarter, with a 15% repeat purchase rate, and 316,524 units were sold. Pressure cookers and small appliances contributed 30% of revenue, while cooktops, hobs, and chimneys contributed 20%.

Financial Position

The company maintained a healthy financial position with a net debt (excluding lease) of ₹27.4 Cr at the end of Q4 FY26, down from ₹194.5 Cr in Q4 FY25. The debt-equity ratio improved to 0.2 from 0.8 in the same period last year. As per the audited balance sheet, total assets stood at ₹11,741.61 million as at March 31, 2026, compared to ₹12,039.80 million in the previous year. Total equity stood at ₹5,042.42 million, up from ₹4,708.35 million, reflecting the improvement in the company's net worth.

Cash Flow Statement

For the financial year ending March 31, 2026, the company reported a net cash flow from operating activities of ₹2,577.42 million, compared to ₹1,299.08 million in the previous year. Cash flow from investing activities was -₹1,093.98 million, while cash flow from financing activities stood at -₹1,291.56 million. Cash and cash equivalents as at March 31, 2026 increased to ₹219.52 million from ₹27.64 million in the previous year.

Dividend Recommendation

The board has recommended a final dividend of ₹3.50 per equity share for FY26, subject to shareholder approval at the ensuing Annual General Meeting.

Parameter: Details Dividend Per Share: ₹3.50 Type: Final Dividend Subject To: Shareholder Approval at AGM AGM Date: September 11, 2026 Record Date: September 4, 2026

Corporate Governance Updates

The board approved the re-appointment of Price Waterhouse Chartered Accountants LLP as Statutory Auditors for a second term of five consecutive years, from the conclusion of the 27th AGM until the conclusion of the 32nd AGM, subject to shareholder approval. Additionally, the board accepted the resignation of Mr. Ramakrishna Pendyala from the position of Chief Financial Officer effective May 15, 2026, and approved the appointment of Mr. Subhadeep Pal as the new Chief Financial Officer effective May 16, 2026. Mr. Pal is a qualified Chartered Accountant with over 23 years of experience in Finance Leadership, with expertise across Corporate Finance, Controllership, Internal Audit, Treasury, FP&A, and Business Partnering across industries such as Pharma, FMCG, Foods, and Energy sectors. The board also approved the amendment of the Stovekraft Employee Stock Option Plan 2018 to increase the ESOP pool from 813,000 stock options to 10,25,000, subject to necessary approvals. Additionally, the board approved the grant of 46,915 stock options to eligible employees under ESOP Plan 2018 at an exercise price of ₹554.65 per option, with options exercisable within 4 years from the date of vesting.

Parameter: Details New CFO: Mr. Subhadeep Pal (effective May 16, 2026) Outgoing CFO: Mr. Ramakrishna Pendyala (effective May 15, 2026) Statutory Auditor: Price Waterhouse Chartered Accountants LLP (second term, 5 years) ESOP Pool (Revised): 10,25,000 options (from 813,000) Options Granted: 46,915 at ₹554.65 per option

Earnings Conference Call

Following the board meeting, Stove Kraft scheduled a conference call with investors and analysts on May 13, 2026, at 4:00 PM IST, organised by MUFG Intime. The call was hosted by senior management to present the financial results and address investor queries.

About Stove Kraft Limited

Stove Kraft Limited is a kitchen solutions and an emerging home solutions brand, and one of the leading brands for home and kitchen appliances in India. The company is one of the dominant players for pressure cookers and among the market leaders in the sale of free-standing hobs, cooktops, and non-stick cookware. It manufactures and retails a wide and diverse suite of home and kitchen solutions under the Pigeon and Gilma brands, and proposes to commence manufacturing of home and kitchen solutions under the BLACK + DECKER brand, covering the entire range of value, semi-premium, and premium home and kitchen solutions, respectively. The flagship brands, Pigeon and Gilma, have enjoyed a market presence of over 16 years and enjoy a high brand recall amongst customers for quality and value for money. The company has well-equipped and backward integrated manufacturing facilities at Bengaluru (Karnataka) and Baddi (Himachal Pradesh), enabling it to control and monitor quality and costs.

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