STOVEKRAFT

30TH May 2023 BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot no. C/1, G Block, Dalal Street, Bandra-Kurla Complex Mumbai- 400 001 Bandra (E), Mumbai - 400 051 Scrip Code: 543260 NSE Symbol: STOVEKRAFT Dear Sir/Madam, Sub: Investor Presentation for Conference Call – Regulation 30(6). This has reference to our letter dated 24th May, 2023 informing about conference call being organized by Orient Capital. In this connection please find attached a presentation to be made to analysts and the institutional investors at the conference call scheduled today. After the conference call, a transcript of the discussion shall also be posted on the website of the Company, www.stovekraft.com for information of the investors. Thanking you, Yours faithfully, For Stove Kraft Limited Shrinivas P Harapanahalli Company Secretary & Compliance Officer [Type here] [Type here] [Type here] STOVE KRAFT LIMITED Q4 & FY23 INVESTOR PRESENTATION Safe Harbor This presentation has been prepared by and is the sole responsibility of Stove Kraft Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitation or inducement to sell or issue, or any solicitation of any offer or recommendation to purchase or subscribe for, any securities of the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment thereof. In particular, this presentation is not intended to be a prospectus or offer document under the applicable laws of any jurisdiction, including India. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. There is no obligation to update, modify or amend this communication or to otherwise notify the recipient if the information, opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate. Certain statements contained in this presentation that are not statements of historical fact constitute “forward-looking statements.” You can generally identify forward-looking statements by terminology such as “aim”, “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “objective”, “goal”, “plan”, “potential”, “project”, “pursue”, “shall”, “should”, “will”, “would”, or other words or phrases of similar import. These forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or other projections. Important factors that could cause actual results, performance or achievements to differ materially include, among others: (a) our ability to successfully implement our strategy, (b) our growth and expansion plans, (c) changes in regulatory norms applicable to the Company, (d) technological changes, (e) investment income, (f) cash flow projections, and (g) other risks. This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. The Company may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such change or changes. 2 “ The only way to do great work is to love what ” you do - Steve Jobs Q4 & FY23 FINANCIAL PERFORMANCE 3 FY23 Performance (Y-o-Y) FY23 FY23 FY23 Revenues Gross Profit EBITDA INR 1283.8 INR 420.4 crores INR 99.0 crores crores + 15.8% Y-o-Y +4.4% Y-o-Y +13.0% Y-o-Y Annual growth in Product Category Revenue Breakup: FY23 Y-o-Y Product Category Growth 23.5% 30.8%  Cooker 19.6 %  Induction Cooktops 13.4 % 6.1% Pressure Cookers  Non-stick Cookware 16.8 % LED Induction Cooktop 12.5%  Small Appliance 11.1 % Gas Cooktp 17.9% Nonstick Cookware  Gas Cooktops 4.3 % 9.2% Mixers / Small Appliances / Others 4 Q4FY23 Performance (Y-o-Y) Q4FY23 Q4FY23 Q4FY23 Revenues Gross Profit EBITDA INR 278.1 crores INR 89.4 crores INR 5.9 crores +6.4 % y-o-y +14.0% Y-o-Y -62.0% Y-o-Y Quarterly growth in Product Category Revenue Breakup: Q4 FY23 Q-o-Q Product Category Growth 25.6%  Cooker 22.0% 35.8%  Induction Cooktops (10.0%) 4.1% Pressure Cookers  Non-stick Cookware (12.0%) LED Induction Cooktop 11.4% Gas Cooktp  Small Appliance 24.0% Nonstick Cookware 13.5% 9.6% Mixers / Small Appliances / Others  Gas Cooktops 12.0% 5 Profit & Loss Statement – Q4 & FY23 Profit & Loss Statement (Rs. Crs.) Q4 FY23 Q4 FY22 Y-o-Y FY23 FY22 Y-o-Y Revenue from Operations 278.1 261.3 6.4% 1,283.8 1,136.4 13.0% Cost of Materials Consumed 161.0 149.5 746.1 702.6 Purchase of stock-in-trade 17.3 20.1 113.8 110.9 Changes in Inventories of Finished Goods and Work in 10.3 13.4 3.5 -40.1 Progress Gross Profit 89.4 78.4 14.0% 420.4 362.9 15.8% GP % 32.2% 30.0% 32.7% 31.9% Employee Benefits Expense 36.5 24.8 142.9 112.4 Other Expenses 45.5 32.5 174.2 142.4 Allowance for ECL 1.5 5.6 4.3 13.3 EBITDA 5.9 15.5 -62.0% 99.0 94.8 4.4% EBITDA % 2.1% 5.9% 7.7% 8.3% Other Income 1.7 -2.2 -3.5 -1.6 Depreciation and Amortisation Expense 9.4 5.2 31.7 19.7 EBIT -1.8 8.1 -122.3% 63.8 73.6 -13.2% Finance Costs 6.2 1.2 16.5 11.0 PBT -8.0 6.9 -215.4% 47.3 62.5 -24.4% Total Tax Expense -2.0 -1.7 11.5 6.3 Profit for the year -6.0 8.6 -169.4% 35.8 56.2 -36.4% PAT % -2.2% 3.3% 2.8% 4.9% 6 Balance Sheet as on 31st March 2023 Equity and Liabilities (Rs. Crs.) 31-Mar-23 31-Mar-22 Assets (Rs. Crs.) 31-Mar-23 31-Mar-22 Equity share capital 33.0 32.9 Property, plant and equipment 362.4 309.4 Other equity 370.3 331.1 Capital work-in-progress 9.5 9.2 Total Equity 403.4 364.0 Intangible Assets 4.0 3.0 Financial liabilities Right of use 35.6 0.0 Goodwill on Amalgamation 0.1 0.0 Borrowings 10.0 15.3 FinancialAssets Lease liabilities 32.3 0.0 Investments - - Other financial liabilities 27.3 19.0 Other Financial assets 8.1 8.2 Provisions 6.5 6.2 Income Tax Assets (Net) 1.4 3.2 Total Non-Current Liabilities 76.0 40.5 Current Tax Assets 1.3 0.2 Financial liabilities Other non‐current assets 39.7 20.7 Borrowings 118.8 63.1 Total Non-Current assets 462.2 353.8 Lease liabilities 2.2 0.0 Inventories 243.3 217.4 Trade payables 177.5 127.4 Financial Assets Suppliers Credit 44.2 57.9 Trade receivables 140.9 96.7 Other financial liabilities 27.1 27.9 Cash and cash equivalents 2.5 0.4 Provisions 6.9 5.4 Bank balances 17.2 11.6 Other current liabilities 41.3 42.0 Loans - - Current tax liabilities (net) 0.1 0.4 Other current financial assets 1.0 1.5 Total Current Liabilities 418.1 324.0 Other current assets 30.3 46.9 Total Liabilities 494.1 364.5 Total Current Assets 435.3 374.6 Total Equity and Liabilities 897.5 728.5 Total Assets 897.5 728.5 7 Cash Flow Statement Cash Flow Statement (Rs. Crs.) Mar-23 Mar-22 Cash Flow from Operating Activities Profit before Tax 47.3 62.5 Adjustment for Non-Operating Items 52.9 45.9 Operating Profit before Working Capital Changes 100.1 108.5 Changes in Working Capital -12.6 -104.8 Cash Generated from Operations 87.6 3.7 Less: Direct Taxes paid -11.3 -9.0 Net Cash from Operating Activities 76.3 -5.3 Cash Flow from Investing Activities -104.0 -115.3 Cash Flow from Financing Activities 29.8 91.6 Net increase/ (decrease) in Cash & Cash equivalent 2.1 -29.0 Add: Cash and cash equivalents as at 1st April 0.4 29.4 Cash and cash equivalents as at 31st March 2.5 0.4 8 “ Success is walking from failure to failure with ” no loss of enthusiasm - Winston Churchill ABOUT STOVE KRAFT LIMITED Key Milestones Investments by SIDBI Granted trademark Commenced exports to Achieved sales of 9.1 IPO with listing on Commenced production at registrations for Gilma retailers in the USA million units NSE and BSE Harohallifacility 2001 2008 2014 2018 2021 1999 2003 2010 2015 2019 Incorporated Stove Kraft as a Granted trademark First Investment by LED Plant in Bangalore & Certificate of registration of Pvt. Limited registrations for Pigeon Sequoia Inner Lid Cooker Plant in design was granted for our Baddi, HP product ‘Super cooker’ 10 Diverse range of products across consumer preferences… Cookware–Pressure cooker, wonder cast cookware, non-stick cookware, electric rice cookers and titanium hard anodized LPG Stoves Small appliances – Food cookware processors, juicers, hand LEDbulbs Massage apparatus blenders, hand mixers, mini Cooktops and other kitchen solutions –Hobs, glass cooktops, Water heaters choppers, oven toaster grills, Battens stainlesssteelcooktops,inductioncooktopsandchimneys rice cookers, coffee makers, Downlights Chimney toasters, sandwich makers and Small appliances –Mixer grinders, rice cookers, electric kettles, Hobs kettles toasters, sandwich makers, knives, steam irons, juicers, food Cooktops steamers,airfryersandelectricgrills Other products – Steam irons, Kitchen sinks dry irons, water heaters and Other products –Emergency lamps, water bottles and flasks, oilfinradiators aluminumladders,clothdryers,waterheaters,dustbinsandmops Multi-brand approach to capture the entire value chain… Value Semi -Premium Premium • Offers a modular kitchen experience • Comprises chimneys, hobs and cooktops across price • Entered into an exclusive brand licensing agreement with Stanley Black & Decker Inc. in 2016 20+ year old brand ranges and designs Launched in 2016 and One of the market leaders • Sold exclusively though Gilma branded outlets, which are • Retailer for and provider of post-sales service for manufacturing for certain products such as owned and operated by franchisees blenders, juicers, breakfast appliances, etc. commenced in 2019 cookware • Gilma specific mobile application for customers to raise • Separate distribution spread across 10 states post sales service requests 11 *Source: F&S Report State of the Art Manufacturing Facilities with focus on quality Baddi, Himachal Pradesh Comprising of 13 personnel and tie-ups Dedicated in-house withforeign companies for technology R&D facility enablement Focus on quality is Sourcing of raw materials ISO 9001:2015 certified maintained at all Product development Manufacturing stage stages Bengaluru, Karnataka Rigorous review and Subject to a rigorous review and monitoring process undertaken at our monitoring process Bengaluru Facility Sourcing team and quality assurance Dedicated sourcing team and quality assurance team based out of China team Total ~46acres with ~10acres available for future expansion Both facilities have a high level of backward integration, and our manufacturing process is not dependent on third party suppliers and OEMs 12 Professional Management Mr. Rajendra Gandhi Mr. A.S. Balaji Mr. Rohit Mago Mr. Vikash Gupta Managing Director Chief Financial Officer Chief Revenue Officer Chief Operating Officer • Founder of Stove Kraft with over 22 years • Chartered Accountant and Cost • B Sc, Government Autonomous Science • He will lead the Operations function and ofexperience Accountant over a decade of rich College, Jabalpur; MBA, Rani Durgavati will be responsible for on-time fulfilment experience in finance, business excellence, Vishwavidyalya; Post-graduate certificate of product requirements through robust • Entrepreneur who built Stove Kraft to one processautomation&riskconsulting. inretailmanagement,XLRIJamshedpur production planning and ensuring of the leading brands for kitchen manufacturing excellence by keeping appliancesinIndia • Previously associated with reputed • 18+ years of experience including a 14- qualityatthecoreofalloperations. organizations like CavinKare Pvt Ltd, yearstintwithHPCL • Continuestobecloselyinvolvedintheday- KPMG. He has a wide experience working • He has more than three decades of rich to-day affairs of the Company and is in various industry i.e FMCG, Logistics, experience in leading manufacturing instrumental in promoting Stove Kraft’s insurance,manufacturingetc operations in multinational companies, cultureofinnovation predominantlyinautomobileindustry. Dr. Manu Nanda Mr. Janardhanan N Mr. Mayank Gupta Chief Marketing Officer Chief Human Resource Officer Chief Growth Officer • He will lead the Marketing and Products • He would be an HR leaderand responsible • Mayank is the CGO at SKL. He is function. He will be responsible for for drivingPeople & Change agenda at SKL responsible for designing and execution of strengtheningmarketing&brandingatSKL andintransformingSKL into abestinclass growth strategy for emerging brands and as well as increasing the pull factor for its peopleorganisation. retailstoresatSKL. products across channels, categories and • He has rich & extensive experience • Mayank has a rich and diverse experience increasingthefootprintofSKLacrossIndia. spanning 32 years,ofwhichmore than1.5 of more than 16 years in spearheading • He has more than 2.5 decades of rich decadeswerespentatPfizerwherehewas retail business verticals & in establishing experience in establishing, achieving part of the L&D function. He was later newbusinessacrossproductcategories. breakthrough performances in "Consumer associated with Allergan India & Cadila as Products"focusedbusinesses. HRbusinesspartner. 13 *Source: F&S Report Backed by Experienced Board Mr. Rajendra Gandhi Ms. Neha Gandhi, Mr. Natrajan Ramakrishna Managing Director Executive Director Independent Director • FounderofStoveKraftwithover22yearsofexperience • Holds a Bachelor’s Degree in Business Administration • He is a qualified Chartered Accountant with an experience of • EntrepreneurwhobuiltStoveKrafttooneoftheleading from Christ University (Bengaluru) and completed Post over forty years in the accounting profession focusing mainly brandsforkitchenappliancesinIndia Graduation Certificate Program in Sales and Marketing on Generally Accepted Accounting Principles (GAAP), IFRS, • Continuestobecloselyinvolvedintheday-to-dayaffairs ManagementfromMICA IndASandAuditing. of the Company and is instrumental in promoting Stove • He has a proven track record of work spread over various • ServedasaGraduateTraineeatViacom18 Kraft’scultureofinnovation sectors focusing on Information Technology, Financial Services,FMCG Ms. Shubha Rao Mayya Mr.Avinash Gupta Mr. Anup S Shah Independent Director Independent Director Independent Director • Holds a bachelor’s degree in commerce from the University • He is highly experienced, execution-focused senior leader • Mr. Anup S Shah is an Additional Independent Director ofMumbaiandisacharteredaccountantwiththeInstituteof with a strong, global background and brings more than 3 of the Company. He holds a Bachelor’s Degree in CharteredAccountantsofIndia decades of experience and a vast network of business Commerce from HR College, Mumbai and a degree in relationships. • Prior experience includes ICICI Limited, ICICI Prudential Life lawfromGovernmentLawCollege,Mumbai. InsuranceCompanyandTataConsultancyServices • Avinash has worked extensively in financial services • He has over 36 years of experience in the field of law, including M&A, equity and debt financing, private equity • Serves as a Director on the board of Ace Manufacturing specifically real estate law. He is the founder partner of placementandadvisoryacross SystemLimited AnupSShahLawFirminBangalore 14 Shift in Consumption Patterns and Favorable Governments Policies Indian Consumer Appliance Market expected to grow @CAGR of ~9% Key Growth Drivers (INR Bn) Kitchen Appliances Market Indian Appliance and Consumer Electronics (ACE) Market 01 Moving towards Aspirational Lifestyle from functional Kitchen tools. LCA SCA Non Stick Cookware SKL’s product mix favorable to 3,150 market growth trends -LCA and Non Stick growing at 12% and 350 15% 02 Need for Space Utilization –Emerging Concept of Modular Kitchen 2,050 21 207 127 10 86 202 111 03 Growth of E-Commerce and easy Financing options 2017 2022E 2020 2025E India Government’s Policies Favourable For The Consumer Appliances Industry Awareness of Cookware through Mass Media and Reality 04 • Shift from unorganized sector to organized sector in Indian manufacturing with the GST Implementation Programs • Lower tax brackets (5%, 12% and 18%) used for Indian Kitchen Items vs excise +VAT taxed at ~31% • Make In India Initiative gave ACE market necessary boost which fostered Retail Manufacturing • Pradhan Mantri Ujjwala 05 Health and Environment Concerns Yojana –Target to provide 5 Crore LPG connection to under privileged women • Majority Kitchen appliances are electricity driven, electricity consumption tripled since 2000 06 Technological Advancements • Niche market for foreign investors, as Govt. allowed 100% FDI through automatic route in the electronic hardware manufacturing sector All information on this slide is obtained from the industry report prepared by Frost & Sullivan (India) Ltd. titled “Kitchen Appliances Market in India” dated December 16, 2019, read with the revised 15 industry report dated November 24, 2020 ("F&S Report"); “E” signifies Estimated Indian Large & Small Cooking Appliance Market Increasing Market for Large Cooking Appliances (LAC) Increasing Trend by Sub Segments –Value (INR Billion) Large Cooking Appliances 8 21,761 7 52 18,313 19,955 6 45 15,453 16,817 6 39 14,209 202 5 2 5 9 34 46 53 SKL is the market 159 179 25 30 34 39 leader* in Free 141 26 125 standing hobs and 111 55 61 67 74 81 89 cook tops 2020 2021F 2022F 2023F 2024F 2025F 2020 2021F 2022F 2023F 2024F 2025F Volume ('000 Units) Value (INR Bn) Free-standing Hobs Cook Tops Cooker Hoods Built-in Hobs Increasing Market for Small Cooking Appliances (SAC) Increasing Trend by Sub Segments –Value (INR Billion) Small Cooking Appliances 17 74,511 16 69,501 15 18 56,405 60,470 64,828 13 14 16 17 52,613 12 14 27 13 25 12 23 21 19 18 86 93 101 109 118 127 44 48 52 56 60 64 2020 2021F 2022F 2023F 2024F 2025F 2020 2021F 2022F 2023F 2024F 2025F Volume ('000 Units) Value (INR Bn) Mixer Grinder Pressure Cooker Food Processors Others # * As per market share of retail sales volume; # Others include electric rice cooker, blenders, electric kettle, coffee maker andjuice extractor 16 All information on this slide is obtained from the industry report prepared by Frost & Sullivan (India) Ltd. titled “Kitchen Appliances Market in India” dated December 16, 2019, read with the revised industry report dated November 24, 2020 ("F&S Report"); “F” signifies Forecasted Non – Stick Cookware and Indian Household Utility Products Increasing Market for Non-Stick Cookware Types of Non-Stick Cookware Used (%) in 2020 16.8% 11,389 74.1% 10,367 67.0% 9,437 8,590 9.9% 56.2% 7,819 7,117 35.1% 21.0 18.0 6.4% 13.2 15.4 1.9% 1.3% 11.3 9.7 2020 2021F Va 2 lu 0 e 2 ( 2 I F NR Bn) 2023F Volum 20 e 2 ( 4 '0 F 00 Units 2 ) 025F CAGR n a P g n iy r F a w a T ia d a K c im a r e C e r a w k o o C y tt e h c a p p A k k a r a y in a P la s r e h t O Company has prominent position in South India for non-stick cookware Household Utility Products –Market INR Billion in 2018 • Stove Kraft Limited is the 3rd largest market share (12.4%) by volume in Non-Stick Cookware 242 • It enjoys a prominent position in the Non-Stick cookware market in the southern region 216 • Stove Kraft Limited has one of the few facilities in India to have an automated roller coating line for 144 manufacturing of non-stick cookware • It offers special range of products which cater to the regional cuisine of Southern India 71 • 57 52 Latest innovation aimed at product efficiency and user convenience includes a new MIOTMnon-stick 37 cookware range – Developed using latest Italian technology Water Dustbin Flasks Emergency Ladders Clothes Floor Mop – ensuring high durability and smoothness Bottles Lamps Drying Stand and Bucket – Range has 5 layer ‘Scandia’ coating Except for Company specific information, all other information on this slide has been obtained from the industry report preparedby Frost & Sullivan (India) Ltd. titled “Kitchen Appliances Market in India” dated December 16, 17 2019, read with the revised industry report dated November 24, 2020 ("F&S Report") “ Success is walking from failure to failure with ” no loss of enthusiasm - Winston Churchill Historical Financials Consolidated Operating Performance Revenues (Rs. Crs.) EBITDA (Rs. Crs.) PAT (Rs. Crs.) 1,284 114 81 1,136 99 95 859 56 670 36 34 3 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 Gross Profit Margins EBITDA Margins PAT Margins 34.0% 35.0% 13.2% 9.5% 31.9% 32.7% 8.3% 7.7% 4.9% 5.0% 2.8% 0.5% FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 18 Key financial metrics RoCE 28.9% Working Capital (in Days) 16.7% 12.0% 9.2% Working 38 37 32 38 Capital (in Days) Mar-20 Mar-21 Mar-22 Mar-23 82 75 Cash Flow from Operations (Rs. 66 70 68 69 71 64 Crs.) 56 40 110 36 30 76 Mar-20 Mar-21 Mar-22 Mar-23 16 -5 Inventory Debtors Creditors Mar-20 Mar-21 Mar-22 Mar-23 19 * Includes trade payables, other current liabilities net of other current assets Historical Profit & Loss Statement Profit & Loss Statement (Rs. Crs.) FY23 FY22 FY21 FY20 Revenue from Operations 1,283.8 1,136.4 859.0 669.9 Cost of Materials Consumed 746.1 702.6 442.4 323.2 Purchase of stock-in-trade 113.8 110.9 125.2 128.8 Changes in Inventories of FinishedGoods and Work in Progress 3.5 -40.1 -9.4 -10.1 Gross Profit 420.4 362.9 300.7 228.0 GP % 32.7% 31.9% 35.0% 34.0% Employee Benefits Expense 142.9 112.4 80.6 82.0 Other Expenses 174.2 142.4 102.3 112.2 Allowance for ECL 4.3 13.3 4.0 0 EBITDA 99.0 94.8 113.8 33.8 EBITDA % 7.7% 8.3% 13.2% 5.0% Other Income -3.5 -1.6 0.5 3.1 Depreciation and Amortisation Expense 31.7 19.7 14.2 12.4 EBIT 63.8 73.6 100.1 24.5 Finance Costs 16.5 11.0 18.8 20.9 PBT 47.3 62.5 81.3 3.6 Total Tax Expense 11.5 6.3 0.0 0.4 Profit for the year 35.8 56.2 81.3 3.2 PAT % 2.8% 4.9% 9.5% 0.5% 20 Historical Balance Sheet- 1/2 EQUITY AND LIABILITIES (Rs. Crs.) 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 Equity share capital 33.0 32.9 32.6 24.7 Other equity 370.3 331.1 270.1 -83.4 Total Equity 403.4 364.0 302.7 -58.7 Financial liabilities Borrowings 10.0 15.3 20.7 204.8 Lease Liabilities 32.3 0.0 - - Other Financial Liabilities 27.3 19.0 17.1 10.8 Provisions 6.5 6.2 6.3 6.3 Total Non-Current Liabilities 76.0 40.5 44.0 221.9 Financial liabilities Borrowings 118.8 63.1 36.6 122.1 Lease liabilities 2.2 0.0 0.0 0.2 Trade payables 177.5 127.4 152.5 151.2 Suppliers Credit 44.2 57.9 - - Other financial liabilities 27.1 27.9 6.9 28.7 Provisions 6.9 5.4 3.1 1.7 Other current liabilities 41.3 42.0 25.2 4.8 Current tax liabilities (net) 0.1 0.4 0.0 0.0 Total Current Liabilities 418.1 324.0 224.3 308.8 Total Liabilities 494.1 364.5 268.3 530.7 Total Equity and Liabilities 897.5 728.5 571.0 472.0 21 Historical Balance Sheet- 2/2 ASSETS (Rs. Crs.) 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 Property, plant and equipment 362.4 309.4 217.7 193.4 Capital work-in-progress 9.5 9.2 19.1 4.2 Intangible assets 4.0 3.0 3.2 3.6 Right to Use Assets 35.6 0.0 0.0 0.0 Goodwill on Amalgamation 0.1 0.0 0.0 0.0 Financial Assets Investments - 0.0 0.0 0.9 Other Financial assets 8.1 8.2 5.3 5.0 Income Tax Assets (Net) 1.4 3.2 0.3 0.2 Current Tax Assets 1.3 0.2 0.0 0.0 Other non-current assets 39.7 20.7 9.8 4.1 Total Non-Current assets 462.2 353.8 255.4 211.5 Inventories 243.3 217.4 156.0 116.6 Financial Assets Trade receivables 140.9 96.7 84.7 103.0 Cash and cash equivalents 2.5 0.4 29.5 14.4 Bank balances 17.2 11.6 7.9 4.4 Loans - 0.0 0.5 0.4 Other current financial assets 1.0 1.5 2.9 1.3 Other current assets 30.3 46.9 34.0 20.5 Total current assets 435.3 374.6 315.6 260.5 Total Assets 897.5 728.5 571.0 472.0 22 Historical Cash Flow Statement Cash Flow Statement (Rs. Crs.). Mar-23 Mar-22 Mar-21 Mar-20 Cash Flow from Operating Activities Profit before Tax 47.3 62.5 81.2 2.8 Adjustment for Non-Operating Items 52.9 46.0 36.8 34.4 Operating Profit before Working Capital Changes 100.1 108.5 117.9 37.2 Changes in Working Capital -12.6 -104.8 -14.9 -27.5 Cash Generated from Operations 87.6 3.7 103.0 9.7 Less: Direct Taxes paid -11.3 -9.0 -0.1 -0.0 Net Cash from Operating Activities 76.3 -5.3 102.9 9.7 Cash Flow from Investing Activities -104.0 -115.3 -65.5 -18.4 Cash Flow from Financing Activities 29.8 91.6 -22.3 -1.8 Net increase/ (decrease) in Cash & Cash equivalent 2.1 -29.0 15.1 -10.6 Cash and cash equivalents at beginning of the year 0.4 29.4 14.4 25.0 Cash and cash equivalents at the end of the year 2.5 0.4 29.5 14.4 23 Thank You Investor Relations Advisors : CIN: L29301KA1999PLC025387 Mr. Irfan Raeen Devansh Dedhia Contact Person: Email Address: +91 97737 78669 +91 9930 147479 Mr. Shrinivas P H - Company Secretary shrinivas.ph@stovekraft.com irfan.raeen@linkintime.co.in Devansh.Dedhia@linkintime.co.in