Stove Kraft Q1FY27 Revenue Surges 41% to ₹480 Crore as PAT Jumps 63% on Induction Cooktop Boom

The Quick Take

• Stove Kraft reported Q1FY27 net profit (PAT) of ₹17 crore, up 63.5% year-on-year, with revenue surging 41.3% to ₹480 crore as induction cooktops recorded exceptional 315.9% growth
• EBITDA grew 50.9% to ₹53.8 crore with EBITDA margin improving to 11.2%, with induction cooktops and small appliances each contributing 27% of revenue — leading all product categories
• The standout induction cooktop growth signals a structural shift in India's kitchen appliance market as consumers upgrade from traditional gas and kerosene cooking to modern electric induction technology

Stove Kraft, the Bengaluru-based kitchen appliances company best known for its Pigeon and Black+Decker branded products, delivered one of its strongest quarterly performances in Q1FY27, with revenue surging 41.3% year-on-year to ₹480 crore and PAT (profit after tax) jumping 63.5% to ₹17 crore. The standout performer was the company's induction cooktop segment, which reported extraordinary 315.9% year-on-year revenue growth and now contributes 27% of total revenue alongside small appliances. EBITDA grew 50.9% to ₹53.8 crore with EBITDA margin improving to 11.2%, reflecting strong operating leverage from the induction category expansion and effective cost management.

The induction cooktop growth story reflects a meaningful structural shift in Indian consumer kitchen preferences. Induction cooking technology offers faster cooking times, greater energy efficiency and a safer alternative to LPG gas cooking — advantages that are increasingly compelling for urban Indian households facing rising LPG costs and growing awareness of indoor air quality. The 315.9% growth rate — while partly reflecting a low base — signals that Stove Kraft is successfully capturing this transition with its Pigeon-branded induction products. Management commentary from CEO Rajendra Gandhi highlighted broad growth momentum across key categories, with non-stick cookware and pressure cookers also showing healthy demand alongside the headline induction performance.

For investors tracking Indian consumer appliances, Stove Kraft's Q1FY27 results position it as a compelling beneficiary of India's kitchen modernisation trend. Key forward signals include whether the induction cooktop growth rate normalises in subsequent quarters or continues at elevated levels as the addressable market penetration accelerates, management guidance on margin sustainability as EBITDA approaches a 12% target range, and competitive dynamics from TTK Prestige, Hawkins Cookers and Bajaj Electricals in the induction and cookware segments. The festive season beginning in Q3FY27 typically provides additional demand impulse for discretionary kitchen appliances and will be a critical test of whether Q1 momentum can be sustained.

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