Stove Kraft Q4FY21: Exports and e-commerce sales growth strong, says CMD Rajendra Gandhi

Stove Kraft Q4FY21: Exports and e-commerce sales growth strong, says CMD Rajendra Gandhi

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The Stove Kraft stock is seeing some profit booking post its strong Q4FY21 results. The company has managed to lower its debt to Rs 15 crore from Rs 338 crore in March last year.

Detailing the numbers, Rajendra Gandhi, CMD of the company said that the month of May saw a big impact due to the second wave of COVID-19 and the company is operating at 50 percent capacity.

“We are witnessing a second wave of the COVID-19 infections and this has resulted in disruption to our business as several states have announced restrictions. We are currently operating at about 50 percent of our capacities based on the restrictions by the government. We believe that once these restrictions are over and progressively as the various states open up, this would normalize,” he said in an interview to CNBC-TV18.

He also said that the company is seeing high growth in exports and e-commerce sales. “We have been witnessing high growth rate both in e-commerce channel and export orders that we have. Currently, the majority of our business, particularly in the month of May, is catering to e-commerce and export orders. Both had high growth in the last year and we are witnessing a similar kind of growth now. Currently, we have our orders full for the export for the near term and e-commerce, there is good traction,” he said.

Gandhi also said the contribution from both exports and e-commerce will be in the same range or a little higher than what it used to be in the past.

Watch the video for more.



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