Stove Kraft Limited — Investor Meet, 11-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Stove Kraft reported strong Q2 FY26 financials: Revenue up 13.4% YoY to Rs. 474.4 Cr, EBITDA up 15.8% to Rs. 56.8 Cr (12% margin), and PAT up 27.8% to Rs. 21.4 Cr (4.5% margin). Half-year performance also robust. Management noted solid consumer demand and festive boost. A GST reduction on cookers/cookware (35% portfolio) is set to drive long-term volume. The company added 16 new Pigeon stores, targeting 500 by 2027, focusing on North/West expansion. Exports grew 19% in H1, but tariff instability remains a concern for higher growth, despite an IKEA partnership starting FY26. Management aims for improved gross margins to 39% and debt-free status within four quarters, targeting higher return ratios.