Stovekraft

Stovekraft Limited operates as a prominent kitchen and home appliance manufacturer in India, positioning itself with a multi-brand strategy to cater to various consumer segments. The company was founded by first-generation entrepreneur Rajendra Gandhi, who identified an opportunity for affordable, quality appliances and incorporated the company in 1999. Starting with the production of kerosene and then LPG stoves, the company has since expanded significantly. Sunita Rajendra Gandhi, a promoter, has been involved with the company since its early days and has contributed to its growth.

The company's business model is centered on manufacturing and selling a diverse range of over 660 products. Revenue is generated through the sale of these goods via a multi-channel distribution network. This network includes general trade distributors, modern retail outlets, exclusive brand stores, and a strong e-commerce presence, which accounts for approximately 30% of its sales in India. Stovekraft also engages in OEM manufacturing for other brands and exports its products to over 12 countries, including the USA, where it serves major retailers like Walmart. The primary product categories contributing to revenue are small appliances, pressure cookers, and non-stick cookware.

Stovekraft markets its products under its flagship brands, 'Pigeon' and 'Gilma'. 'Pigeon' is positioned as a value-for-money brand, while 'Gilma' targets the semi-premium segment with products like chimneys and hobs. The company also has a licensing agreement to manufacture and sell products under the premium 'Black+Decker' brand in India. A significant milestone was the launch of the first 'Made in India' air fryer, supported by a fully backward-integrated manufacturing facility. The company operates two primary manufacturing plants in Bengaluru and Baddi, which handle everything from product design to production. A major corporate event was its Initial Public Offering (IPO) in January 2021, which saw the company listed on the NSE and BSE, raising over ₹412 crore.

Keywords: kitchen appliances, home appliances, cookware manufacturing, Rajendra Gandhi, Pigeon brand, Gilma brand, Black+Decker India, non-stick cookware, pressure cookers, induction cooktops, mixer grinders, gas stoves, chimney hobs, D2C, B2B, OEM manufacturing, appliance exports, Indian stock market, NSE: STOVEKRAFT, kitchen solutions, small domestic appliances, retail distribution, e-commerce appliances, consumer durables