Stove Kraft Share Price in Focus After Partnership With IKEA

On December 19, 2024, Stove Kraft share price surged by approximately 5%, reaching a high of ₹973.25 at 11:50 AM on the BSE. This rise in Stove Kraft shares follows the announcement of the company’s partnership with the global retail chain IKEA.

In an exchange filing, Stove Kraft revealed that it has been selected by IKEA as a supply partner. Under this collaboration, Stove Kraft will develop a range of cookware that will be sold through IKEA’s global network of stores starting in 2026.

The manufacturing facility for this venture is located at Stove Kraft’s Harohalli campus, occupying 1,80,000 sq ft. This development is in line with the company’s strategic goal of expanding its global presence and enhancing its position in international markets. The partnership with IKEA is also expected to bring global best practices in manufacturing and supply chain management.

Stove Kraft Q2 FY25 Results

In Q2 FY25, Stove Kraft reported a modest increase of 1.16% in net profit, totalling ₹16.71 crore for the quarter ending September 30, 2024, compared to ₹16.52 crore during the same period last year. The company’s expansion of Pigeon outlets through the COCO (Company-Owned, Company-Operated) and COFO (Company-Owned, Franchise-Operated) models has shown promise, with 22 new stores added, bringing the total to 213. Additionally, Stove Kraft focused on enhancing operational efficiency, reducing its working capital days to 44.

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