Stove Kraft share price today

Stove Kraft Ltd's share price was ₹796.50 at the close on 6 November 2026. It has been rising for 20 weeks. That is 10.6% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹476 and ₹851, and at that close it sat 85% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Stove Kraft Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 34 weeks in a row.

Over the last 5.8 years the share price moved +79% while the NIFTY 500 moved +76%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

One change stood out: highest quarterly revenue in 19 quarters.

1. Highest quarterly revenue in 19 quarters

   Revenue of ₹481 crore in the June 2026 quarter is the highest of the last 19 quarters.

   Why: Sales hit a record because induction cooktops sold far more than a year earlier, and pressure cookers and non-stick cookware also grew strongly.

   From the earnings call on 4 Aug 2026.

For July to September 2026 (the quarter ended 30 September 2026), Stove Kraft reported revenue of ₹582 crore, up 23.6% from ₹471 crore a year earlier, and a profit of ₹29.0 crore, up 38.1% from ₹21.0 crore.

Stove Kraft results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 4 August 2026, about April to June 2026; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Stove Kraft closed at ₹796.50 on 6 November 2026, up 19.5% from ₹666.35 a year earlier (7 November 2025) and down 25.2% over five years. Its highest weekly close since February 2021 was ₹1,095.45 on 14 October 2021.

Stove Kraft share price: then and now

Weekly closing prices. Each change is the move from that price to the 6 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

305 weekly closes from 5 February 2021 to 6 November 2026.

6 Nov 2026: Stove Kraft closed at ₹796.50, up 0.4% on the week and down 0.7% on the month. Results for July to September 2026: Revenue up 23.6% and profit up 38.1% on a year earlier.

Earlier

• 4 Sep 2026: ex-date for a dividend of ₹3.50 a share.
• 4 Aug 2026: Stove Kraft held its results call for April to June 2026. Management guided: Q2-Q3 demand framed strong around well-spread festivals; 15-20% growth planned consistently across categories, with non-induction near the high-teens.

Stove Kraft paid ₹3.50 a share in regular dividends in the 12 months to 7 November 2026 (1 payment), a yield of 0.44% at the ₹796.50 close on 6 November 2026. The last was a dividend of ₹3.50 a share, ex-date 4 September 2026.

Stove Kraft dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Stove Kraft Ltd paid out 28% of its profit as dividends in FY26, and it paid a dividend in 3 of its last 13 reported years.

From the NSE corporate-actions record, read 7 November 2026.

On the call for April to June 2026, held on 4 August 2026, Stove Kraft's management guided: Q2-Q3 demand framed strong around well-spread festivals; 15-20% growth planned consistently across categories, with non-induction near the high-teens.

“It should not be surprising for us to grow at 15% plus, in the range of 15-20%. I do not see a challenge there.”Rajendra Gandhi, on the call for April to June 2026

What management guided

• Induction cooktops planned at least 20% of FY27 revenue, with annual revenue at 2x last year's level.
• Exports to reach 15% of revenue over the next 2 years, including IKEA and other global customers.
• Over 2-3 years, gross margin to settle at 40-42% with at least 1% annual improvement; operating margin to reach 14-15% and profit margin 7-8%.
• Standalone kitchen-exclusive outlets to reach 500 by end-2027.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 4 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

The changes showing up in Stove Kraft's own numbers are a bigger market to serve. It is too early to say whether they last.

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Checked against results and calls up to April to June 2026, 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

A failure of quarterly operating profit margin to remain near or above the 9.5% normalized level combined with IKEA revenue contribution remaining below 25 Cr for full-year FY27, indicating that operating leverage and export diversification are not offsetting domestic category normalization.

Each change stops working if

• IKEA Partnership Global Supply Ramp & Capital spending Definition Reconciliation: IKEA product certification, customer off-take, or line ramp falls short of the stated schedule.
• Operating Leverage via 97-98% In-House Integration: Volume throughput weakens materially or input-cost inflation cannot be passed through.
• GST Rate Reduction & Induction Category Mainstreaming: Crystalline-glass supply disruption constrains output or category demand normalizes sharply.
• Cookware Premiumization to Stainless Steel & Tri-Ply: Consumer demand shifts back toward lower-ASP aluminium cookware.

The main risks

• China Sourcing Vulnerability for Crystalline Glass: Crystalline glass is cited as 33-40% of induction-cooktop cost and has no domestic production alternative. ⚠ estimate
• Management Guidance Consistency and Execution Slippage: Prior margin, export and IKEA milestones were revised or delayed, making the new multi-year margin and IKEA goals execution-dependent. ⚠ estimate
• Export Market Tariff and Customer Demand Instability: October to December 2025 export revenue fell 40% on a year earlier to 40 Cr amid tariff uncertainty and customer inventory effects. ⚠ estimate
• Franchise Store Economics in Non-South Expansion: Retail expansion toward 500 stores could reduce average store productivity if newer regions lag the established base. ⚠ estimate

Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

When Stove Kraft reports October to December 2026, these are the 5 checks that show whether the story is still on course. First: Revenue for the September 2026 quarter grows at least 15% over 474 crore with gross margin at or above 38.5%, and management gives induction's share of revenue still at or above 20%.

Stove Kraft is on 2 of our India lists: Multibagger study list and Momentum stocks.

Stove Kraft Ltd earned ₹29.0 Cr of net profit in the Sep 2026 quarter, +38.1% on the same quarter a year earlier. That is the 3rd quarter in a row of profit growth. Full-year FY26 profit was ₹42.0 Cr. That is 5.0% of the quarter's revenue. The same quarter a year earlier earned ₹21.0 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹42.0 Cr (+7.7% on the year before).

Why profit moved: revenue changed +23.6% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +135.3% and revenue +22.7%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

Stove Kraft Ltd reported ₹582 Cr of revenue in the Sep 2026 quarter, +23.6% on the same quarter a year earlier. That is the 3rd quarter in a row with growth on the year before. Over 10 years it has grown 17.1% a year on average. The last full year, FY26, came in at ₹1,605 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. The November call described a GST rate reduction on cookware and pressure cookers, representing 35% of portfolio, from 12% to 5%. The August call reported induction cooktop growth of 315.9% YoY and management planned at least 20% of FY27 revenue from induction. China-sourced crystalline glass remains a supply constraint.

The last four reported quarters add to ₹1,854 Cr.

FY26 revenue was ₹1,605 Cr, +10.8% on the year before.

Recent pace: the last four quarters grew +22.7% on average, against 17.1% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +21.3%, against +14.3% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +27.3%, against +26.5% a year (stabilising).

Stove Kraft Ltd's operating margin was 12.0% in the Sep 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between −6.0% and 13.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. Stove Kraft states that 97-98% of production is in-house across cookware, induction cooktops and small appliances. Management estimated existing-footprint peak revenue of 2,500-3,000 Cr. Incremental volume can absorb fixed costs, but the current deterministic margin-normalization model still uses 9.5% OPM and does not assume that the recent margin is permanent.

Why the margin moved: operating margin changed +1.1 percentage points on the year while gross margin changed +1.2 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 436% of Stove Kraft Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹258 Cr of operating cash against ₹42.0 Cr of profit. After ₹28.0 Cr of spending on assets, ₹230 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 436% of profit came in as cash: the cash cycle got 11 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 1.9× depreciation over three years. The next section checks what that spending is building.

Stove Kraft Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 27 days in FY26, down from 38 days in FY21. It spent ₹386 Cr on assets over the last 3 years. Customers take 26 days to pay, and stock sits for 133 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

Why this happened. The IKEA facility was capitalized as of March 2026 across three awarded product lines. The August 2026 call states supplies did not start in the reported Q1 and instead started in Q2. Management's May guidance was 40-50 Cr of FY27 revenue and 200-250 Cr annual revenue at full utilization. these are not directly comparable without a definition bridge.

At FY26 sales of ₹1,605 Cr, each day of that cycle ties up about ₹4.4 Cr, so roughly ₹119 Cr is tied up in the business at any time.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 133 days. Customers pay about 26 days after that. Suppliers are paid at 133 days. Together that makes the 27-day cycle.

Spending on assets: ₹386 Cr over the last 3 years, against ₹200 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹15.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Stove Kraft Ltd's P/E is 46.7×, in the middle of its own history: higher than 48% of past readings. Its usual P/E (the middle reading) is 47.8×, over 5.3 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Why the multiple is where it is: over the past year earnings per share moved +8.9% while the price moved +19.5%. The price did better than earnings, which pushed the multiple up within its own range.

Where the price move came from: over 5 years the price moved −5.7% a year; about −9.0% a year came from earnings growth and about +3.3 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple.

Stove Kraft Ltd's business is giving mixed signals. Growth has been steadily positive, but ROCE at 13.7% is below the 15% level needed to call it steady growth. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: when the lines disagree, each line above matters more than any single label.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Stove Kraft Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: MID EXPANSION.

NOT YET CHECKED

What is not proven yet. A failure of quarterly operating profit margin to remain near or above the 9.5% normalized level combined with IKEA revenue contribution remaining below 25 Cr for full-year FY27, indicating that operating leverage and export diversification are not offsetting domestic category normalization.

What would change our mind. A failure of quarterly operating profit margin to remain near or above the 9.5% normalized level combined with IKEA revenue contribution remaining below 25 Cr for full-year FY27, indicating that operating leverage and export diversification are not offsetting domestic category normalization.

The test written in advance. A failure of quarterly operating profit margin to remain near or above the 9.5% normalized level combined with IKEA revenue contribution remaining below 25 Cr for full-year FY27, indicating that operating leverage and export diversification are not offsetting domestic category normalization. Measured by: the thesis as written as stated by the next result.

The test written in advance. China Sourcing Vulnerability for Crystalline Glass. Measured by: China Sourcing Vulnerability for Crystalline Glass Material component-shipping delays or induction-line gross-margin contraction. by the next result.

What the company does. the standardized FY26 cash-flow capex cell is 28 Cr, so these measures should not be treated as directly comparable. Q1 FY27 revenue rose 41.47% YoY to 481 Cr and operating profit was 54 Cr; the quarterly-results table reports OPM of 11%. FY26 OCF was 258 Cr and the cash conversion cycle was 27 days, but the improvement included payable-day expansion to 133 days; cash conversion should be monitored rather than extrapolated mechanically.

The key numbers to watch, and the level that would change the picture

Everything further down this page is evidence for or against these.

What the surface reading misses. The surface reading is: Q1 operating profit increased with revenue. The research reads it further: The normalized model does not assume the Q1 margin is permanent.

• 1 · Operating leveragebuilding
• 2 · Value-added mixbuilding
• 3 · Management changequiet
• 4 · Paying down debtquiet
• 5 · Regulatory approvalquiet
• 6 · Order-book winsquiet
• 7 · Consolidationquiet
• 8 · Demerger or value unlockquiet
• 9 · Buybackquiet
• 10 · New geographiesquiet
• 11 · More business from existing customersquiet
• 12 · New product launchquiet
• 13 · Mandatory normsquiet
• 14 · A bigger market to servequiet
• 15 · Market-share gainsquiet
• 16 · Asset qualityquiet

Lever 1 · Operating leverage: building. Backward integration provides cost control across an installed footprint management estimates can support 2,500-3,000 Cr of peak revenue. What proves it keeps working: Operating Leverage via 97-98% In-House Integration. It stops working if Volume throughput weakens materially or input-cost inflation cannot be passed through.

Lever 2 · Value-added mix: building. Stainless-steel mix and planned tri-ply and automated pressure-cooker lines could improve realization, but the 40-42% gross-margin goal remains guidance. What proves it keeps working: Cookware Premiumization to Stainless Steel & Tri-Ply. It stops working if Consumer demand shifts back toward lower-ASP aluminium cookware.

Sources: our stock research file (22 August 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.

The whole page in one table. Each row links to its section.

What Stove Kraft Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.

IKEA Revenue Start Delayed · 4 August 2026. Both the January 2026 and May 2026 calls indicated that IKEA production or revenue recognition would begin in Q1 FY27. In the August 2026 call, management said supplies had not started in the reported quarter and instead began in Q2, representing a one-quarter delay to a repeatedly stated milestone without explaining the slippage.

EBITDA Margin Guidance Miss · 13 May 2026. In both the Nov 2025 and Jan 2026 calls, management unambiguously guided at least a 1 percentage point improvement in FY26 EBITDA margins over FY25 levels of approximately 10.4%, implying a goal of roughly 11.4%. The May 2026 call disclosed full-year FY26 EBITDA margin at 10.3%, essentially flat to slightly below FY25 and approximately 110 basis points short of the guided level. Management attributed the shortfall to a one-off forex loss in Q4, a risk that was never flagged in either prior call despite both reconfirming the guidance with explicit confidence.

Export 50% Growth Goal Abandoned · 13 May 2026. In the Nov 2025 call, management explicitly maintained a 50% export growth guidance, stating it would be upheld once tariffs stabilized and projecting the same 50% growth rate for FY27. In the May 2026 call, management acknowledges US tariffs have substantially decreased from approximately 50% to 18%, which was the exact stated precondition for maintaining the 50% growth goal. Despite this improvement in the tariff environment, management now only guides for gradual export growth, entirely abandoning the 50% goal without acknowledgment or explanation.

Retail Real Estate Strategy Reversal · 13 May 2026. The Nov 2025 call explicitly stated that controlling real estate was a core strategic objective and that the COFO model - where the company owns the lease - was the right and preferred model for all future store additions, with confirmation that all incremental stores were being opened on that basis. The May 2026 call directly contradicts this by stating all future stores will follow FOFO or FOCO formats where the franchise owns the real estate, representing a fundamental and unexplained shift in retail capital allocation strategy and balance sheet composition.

Every quote above is taken word for word from the company’s own earnings calls.

Full prior-downturn conduct is incompletely documented.

Regulatory and governance record

No regulator/court/auditor-backed fraud or proven management lie appears. The named Atomberg fan-design suit is real, but interim relief was refused and no material damages or continuing restriction is established; final suit disposal is not proven.

Checked 14 October 2026.

Stove Kraft Ltd earned a ROCE of 11% in FY26. That is up from a low of −13% in FY16. Its return on capital used (ROIC) is 1.5 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 2.6% net margin and 1.37× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 2.6% net margin × 1.37× asset turnover × 2.33× leverage (assets divided by equity) ≈ 8.3% on equity. The margin does its share; borrowing is a big part of it.

The key test, return on capital used minus the cost of capital: 13.5% − 12.0% = +1.5 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error.

The 13.5% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 9.7%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.

Stove Kraft Ltd has total debt of ₹117 Cr against shareholder equity of ₹504 Cr as of Jun 2026, so its debt is 0.23× its equity, which is very little. Year by year, that ratio went from 0.43 in FY22 to 0.38 in FY26. So the returns on this page come from the business, not from borrowed money.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

Foreign institutions raised their stake in Stove Kraft Ltd by 2.5 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 4.0% of the company. Domestic institutions moved +1.7 points over the same period, to 7.1%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Foreign institutions: +2.5 points over 8 quarters, to 4.0%; Domestic institutions: +1.7 points over 8 quarters, to 7.1%; Promoters: −0.1 points over 8 quarters, to 55.8%.

Why the owners changed: foreign institutions drove it (+2.5 points), together with domestic institutions (+1.7 points). They raised their stake step by step.

For Stove Kraft Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

52.2 out of 100, rank 4 of 6 in Domestic Appliances, with 85% of the evidence available.

Stove Kraft Ltd scores 52.2 out of 100 against the 6 companies it is compared with in Domestic Appliances, ranking 4. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.

The four parts add up to the total exactly: 23.3 + 13.5 + 2.9 + 12.5 = 52.2. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Stove Kraft ranks 4 of 6 Domestic Appliances companies on the 4-Factor Sector Score, with 52.2 out of 100.