Kitchenware-16500930913x2New Delhi: Veteran investor Ashish Kacholia bought shares of cooking appliances maker Stove Craft Ltd in the March quarter, according to shareholding data. In the previous quarter, Kacholia held 1.76 per cent stake or 5,76,916 shares in the company. The promoters’ stake in the company rose to 56.38 per cent in the March quarter, from 54.01 per cent in the December quarter. FIIs reduced their stake from 9.80 per cent in the December quarter to 8.39 per cent in the March quarter. The number of FII investors has come down to 23 from 37 in the last quarter.

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Mutual funds have also increased their stake in the company from 5.69 per cent in the December quarter to 8.85 per cent in the March quarter. Stove Craft shares closed at Rs 664.85, up 3.27% on April 13. It had earlier closed at Rs 643.80 on BSE. The stock is above the 5 day and 20 day moving averages, but below the 50 day, 100 day and 200 day moving averages.

In 2017, it fell to 31.71 percent

Stove Craft stock has grown by 38.01 per cent in one year but has come down to 31.71 per cent in 2022. The company had a market cap of Rs 2,185 crore on the BSE as on April 13. The stock touched a 52-week high of Rs 1134.85 on October 18, 2021 and a 52-week low of Rs 400 on May 6, 2021.

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Stove Craft’s third quarter ended December 31, 2021. 11.11 crore as compared to a net profit of Rs. 33.47 crores. Sales grew 1.12 per cent to Rs 297.98 crore in the third quarter of last fiscal, from Rs 294.68 crore in the same quarter a year ago. Excluding other income, operating profit fell 56.59 per cent to Rs 18.56 crore in the December quarter from Rs 42.76 crore in the third quarter of FY20.

What products does the company produce?

The company was established in 1994 and is based in Bangalore. Stove Craft is primarily engaged in the manufacturing and trading of kitchen and home appliances under the Pigeon and Gilma brands. This includes pressure cookers, non-stick cookware, hobs, stainless steel cooktops, gas and induction cooktops, LPG stoves, mixer grinders, chimneys, emergency lamps, ladders and clothes dryers, water bottle and flask appliances, cleaning and apparel products .