Stove Kraft TP raised 29% to ₹900 on induction tailwinds, IKEA-Walmart export ramp

Broker maintains Buy citing post-LPG induction cook-top demand, scaling exports via IKEA and Walmart, and operating leverage as ₹500 cr FY22-26 capex cycle winds down. Revenue targeted at ₹2,500 cr vs ₹1,500 cr FY26, with EPS CAGR pegged at 52% through FY26-28E.

— Source publishedTue, 23 Jun, 2026, 16:52 IST·First seen Tue, 23 Jun, 2026, 17:01 IST·Source The Hindu BusinessLine

What happened

Broker maintains Buy on Stove Kraft with TP raised 29% to ₹900, citing induction cook-top tailwinds post-LPG disruption, export ramp-up via IKEA and Walmart

Key facts

  • Target ₹900
  • CMP ₹753.15
  • Capex ₹500 cr FY22-26
  • Revenue ₹2,500 cr target vs ₹1,500 cr FY26
  • Revenue CAGR 18%
  • EBITDA CAGR 24%
  • EPS CAGR 52%
  • TP raised 29%

Why this matters

IKEA-Walmart export ramp validates private-label kitchen appliance platform—scout bolt-on small appliance brands or contract manufacturing capacity that could plug into the same OEM channels.