Kitchen appliances company Stovekraft, which has products under four brands, including Pigeon and Gilma, estimates its last financial year’s turnover to be ₹700 crore.
Neha Gandhi, director, Stovekraft, told The Hindu that the company’s turnover during 2017-2018 was ₹530 crore. Stovekraft had grown at more than 30% year-on-year, she said.
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The company has more than 650 products under four major categories — cooking, kitchen utilities, home utilities, food preparation. “All segments are growing in both volume and value. We are building a range of clean utility products that will be launched under the home utilities segment,” she said.
Pigeon products are available in 25,000 retail outlets across India, apart from the large format stores and e-commerce marketplaces and Gilma, in 70 exclusive franchise stores in the southern States.
The ‘Pigeon’ brand of products is also exported to 12 countries. E-commerce has helped the company enhance its presence in the northern and eastern States. “We want to grow our retail market by 20% over the next year,” Ms. Gandhi added.
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The company plans to hit the capital markets before the end of 2019.
A clear picture would be available by June or July for the company to decide when to go for an IPO. The company had filed draft papers for an IPO last year, she said.