Profitmart Securities has given Buy recommendation for Stove kraft with a target price of Rs. 600 in its research report issued on Apr 17, 2021
Profitmart Securities research report on Stove kraft
Incorporated in 1999 by Mr. Rajendra Gandhi, SKL is involved in the manufacture and retail of a wide range of kitchen solutions under Pigeon and Gilma brands. It acts as an exclusive partner for kitchen appliances of the BLACK + DECKER brand. SKL’s products comprise cookware and cooking appliances across brands, while the home solutions constitutes of various household utilities, including the recently introduced LED bulbs, oxymeters, etc. SKL markets its products under flagship brands Pigeon (86% of FY20 sales; pressure cookers, non-stick cookware, LPG gas stoves, induction cooktops and LED products), Gilma (2.5% of FY20 sales; chimneys, hobs and cooktops) and licensed ‘Black and Decker’ brand (2.7% of FY20 sales).
Hence we believe that the SKL stock should be purchased at the current price for a price target of around Rs 600 over the next 18 months.