Stove Kraft currently enjoys a pan-India presence in the cookware and kitchen appliances segment through its flagship brand Pigeon and sees an interesting opportunity to make an aggressive entry into branded modular kitchen segment with its factory made Ready to Assemble (RTA) kitchen. The addressable market for branded modular kitchen industry in India is currently estimated to be around INR12,000 Cr. and expected to grow at a CAGR of 20%. However, the penetration is predominately limited to large cities and a large portion of the segment is still unorganized/unbranded comprising of local carpenters / contractors / builders, small retail operators and architects. Our RTA kitchen will be a standard offering catering to majority of the kitchen shapes, with dedicated modules of wall cabinets, floor cabinets and tall units along with multiple colour options, both in contemporary & classic. The inventory of standard cabinets will be manufactured in mass production lines at an in-house facility in Bengaluru which has been acquired from Metsmith, along with the entire team of operations and designers. This will allow the customers to benefit from assured quality, quick delivery (48hrs TAT) and affordable price derived from economies of scale. The Company envisages further investment in expanding the capacity and automating the lines in the near future. In addition to this, Stove Kraft will also create a seamless IT based CRM system which will offer customers a delightful experience right from design to installation from the comforts of their home. A Pigeon RTA kitchen with plywood kitchen cabinets, granite top, kitchen sink, chimney, cooktop & accessories shall be available to the customer from April 2022 at an all delivered starting price of INR69,990/-. Commenting on this development, Mr. Rajendra Gandhi, Managing Director said, "This is an important milestone in the Company's growth journey for next few years. The acquired manufacturing facility coupled with Company's existing pan-India distribution network will provide Stove Kraft a jump start in this segment. Further, the diversified product portfolio at an attractive price point offers customers a compelling value proposition. In addition, the Company believes a significant portion of the industry will move from unorganized to organized segment and Stove Kraft will be in a favourable position to capture this market share." Shares of Stove Kraft Limited was last trading in BSE at Rs. 973.55 as compared to the previous close of Rs. 976.35. The total number of shares traded during the day was 2375 in over 411 trades. The stock hit an intraday high of Rs. 988.20 and intraday low of 969.25. The net turnover during the day was Rs. 2321473.00.
Website Created & Maintained by : Chennai Scripts West Mambalam, Chennai - 600 033, Tamil Nadu, India