Company Highlights
Founded in 1999, Stovekraft manufactures cooking appliances under Pigeon and Gilma brands. Under the “Pigeon” brand, it has 651 distributors in 27 states & 5 union territories & 12 distributors for exports. It has distribution network in countries including USA, Mexico, Kenya, Qatar, Sri Lanka, Fiji, Bahrain, Kuwait.
It has manufacturing facilities at Bangalore (Karnataka) and Baddi (Himachal Pradesh).
Strengths
- Diversified product portfolio
- Well connected distribution network
- Strong manufacturing capability
Strategies
- Increase geographical reach
- Scale up branding, promotional & digital activities
- Expand portfolio in existing product segments
- Invest in new plants and increase automation in existing manufacturing facilities
Issue Highlights
Valuation
The company is getting listed at a trailing 12M P/E of 34.5, which is below the industry P/E of 58.8.
Utilization of Funds
- Repayment/pre-payment, in full or part, of certain borrowings (INR 76 Crores)
- General Corporate Purpose
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