Stove Kraft Q1 Review - Healthy Topline Growth; 11% Ebitda Margin Guidance Maintained: Nirmal Bang

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Nirmal Bang Report.Stove Kraft Ltd. reported Q1 FY23 revenue of Rs 2.75 billion, up 28.4% YoY. The topline was 2.7% above our estimate. Gross margin contracted by 140 bps YoY to 32.9%. Ebitda stood at Rs 216 million, up 7% YoY. Ebitda margin contracted by 160 bps YoY to 7.8%, in line with our estimate. However, Ebitda margin improved by 190 bps on QoQ basis. Profit after tax declined by 40.6% YoY to Rs 80 million, below our estimate of Rs 120 million. In Q1 FY23, the pressure cooker category saw volume growth of 12.6% YoY. Stove Kraft added 10,568 (LED/Pigeon - 6,329/4,239) retail outlets in Q1 FY23. The management highlighted that demand has bounced back and has guided for double-digit topline growth for FY23. They also highlighted that e-commerce sales are expected to pick up in Q2 FY23 ahead of the festive season. The management has maintained 11% Ebitda margin guidance for FY23..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Stove Kraft Q1 Review - Healthy Topline Growth; 11% Ebitda Margin Guidance Maintained: Nirmal Bang

Stove Kraft Q1 Review - Healthy Topline Growth; 11% Ebitda Margin Guidance Maintained: Nirmal Bang

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