Stove Kraft, a Bengaluru-based manufacturer, is in the process of establishing India’s first fully automated foundry for producing cast iron cookware. The company plans to begin production trials in December, with the products expected to hit the market by April 2024. Stove Kraft will invest approximately Rs 55 crore (around $7.3 million) in setting up this foundry, which will be capable of melting and molding various types of cast iron cookware, including tawas, kadais, and frying pans, both for the Indian market and international markets.
In addition to expanding its cast iron cookware production, Stove Kraft is also looking to increase its production and sales of water bottles and flasks. The company aims to grow its cast iron cookware business to Rs 500 crore (approximately $67 million) within five years. Stove Kraft already has substantial orders from both new and existing global cookware brands and retailers.
The company currently operates 100 exclusive Pigeon outlets, primarily in Karnataka and Andhra Pradesh. It is now expanding into Kerala and Tamil Nadu and plans to have 500 outlets by 2025. Stove Kraft is investing Rs 75 crore (around $10 million) in this store expansion effort and intends to have at least 100 of these outlets managed by women entrepreneurs.
Over the past three years, Stove Kraft has invested Rs 300 crore (approximately $40 million) to enhance its production capacity, manufacturing facilities, and research and development infrastructure. The company has partnered with DISA and Inductotherm to provide technical expertise, equipment supply, and maintenance for its foundry project.
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