Mumbai, Jan 31 (SocialNews.XYZ) Stove Kraft on Saturday posted a 66.6 per cent year-on-year fall in profit for the December quarter (Q3 FY26) as weak demand in the consumer durables market affected sales.
The company’s net profit dropped to Rs 4 crore as compared to year-ago period, according to its stock exchange filing.
Revenue also declined by 6.4 per cent to Rs 378.3 crore compared to the same period last financial year (Q3 FY25).
Operating performance softened, with EBITDA falling 15 per cent to Rs 34.2 crore. The operating margin narrowed to 9 per cent, down from 10 per cent a year ago.
Stove Kraft said pressure cookers and small appliances together made up around 30 per cent of its total revenue for the quarter.
During the period, the company continued to expand its retail presence by adding 17 new stores. This took its total number of outlets to 313 across 21 states and 138 cities.
The company’s earnings were also impacted by certain one-time costs. It incurred Rs 1.24 crore towards gratuity provision and leave encashment following the implementation of the new labour code.
In addition, it recorded a forex loss of Rs 1.90 crore, according to its stock exchange filing.
Commenting on the results, Managing Director Rajendra Gandhi said the company delivered a resilient performance despite a tough business environment.
He added that strong execution and operational efficiency helped support the business during the quarter.
For the first nine months of FY26, Stove Kraft’s revenue stood at Rs 1,192.9 crore -- marking a 4.9 per cent increase from the same period last financial year.
Gross margins improved to 38.8 per cent during this period. The company’s flagship brand, Pigeon, recorded a year-to-date growth of 9.7 per cent on a compounded basis.
Working capital days also improved, reducing to 43 days, the company said in its exchange filing.
Looking ahead, Stove Kraft said it remains on track to meet its goal of opening 500 standalone Exclusive Pigeon Stores by calendar year 2027.
The expansion will continue through a mix of company-owned and franchise-operated store models.
Source: IANS
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