Q4 earnings effect: Stove Kraft shares tank 12%; top losers on BSE 

Shares of Stove Kraft Ltd slipped over 12% today after the firm reported a loss of Rs 6 crore for the fourth quarter ended March 2023 against a net profit of Rs 8.65 crore in the corresponding quarter of the previous fiscal. Stove Kraft stock fell 12.22% to Rs 438 against the previous close of Rs 498.95 on BSE. The stock has lost 21.33% in one year and fallen 13% since the beginning of this year. Total 0.74 lakh shares of the firm changed hands amounting to turnover of Rs 3.30 crore. Market cap of the firm fell to Rs 1459.62 crore.

In terms of technicals, the relative strength index (RSI) of the stock stands at72.7, signaling it's trading in the overbought zone. Stove Kraft stock has a one-year beta of 0.6, indicating low volatility during the period. Stove Kraft shares are trading higher than the 50 day and 100 day moving averages but lower than 5 day, 20 day and 200 day moving averages. 

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The firm reported a 6.40% rise in revenue to Rs 278.06 crore in the March 2023 quarter against Rs 261.33 crore in the March 2022 quarter. However, EBITDA slipped 62% to Rs 5.90 crore in Q4 against Rs 15.51 crore in the March quarter of 2022.    

On an annual basis, net profit slipped 36.37 % to Rs 35.77 crore for the fiscal ended March 2023 against Rs 56.22 crore for the fiscal ended March 2022. However, revenue climbed 13% to Rs 1283.85 crore in the March 2023 fiscal against Rs 1136.36 crore for the fiscal ended March 2022.

Stove Kraft is a kitchen solution and an emerging home solutions brand. It is one of the leading brands for home and kitchen appliances in India, and one of the dominant players for pressure cookers and amongst the market leaders in the sale of free-standing hobs, cooktops and non-stick cookware.

The company is also engaged in the manufacturing and retail of home and kitchen solutions under the Pigeon and Gilma brands and proposes to commence manufacturing of home and kitchen solutions under the BLACK + DECKER brand.

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