Ashish Kacholia Stock Inks Partnership With Havells: Do You Own?

Small-cap firm Inflame Appliances Ltd operates in the consumer discretionary industry. The company and Havells have announced a cooperation for kitchen appliances. The company has an agreement with Havells for the supply of oven toaster grills (OTGs) and chimneys that has been approved as a supplier. The models have already been completed, and the firm anticipates starting operations in October 2023.

"The approval by Havells further confirms our capabilities in the Indian market and continues to cement our position as a leading quality supplier and manufacturer of kitchen appliances in India, and becoming the partner of choice for leading brands in our focus category, furthering the nation's "Made in India" objective," said Inflame Appliances in a stock exchange filing.

"With our Hyderabad facility now operational, we will have a combined capacity across our Hyderabad and Panchkula units to manufacture 600,00 unites of Chimneys, 120,000 units of Hobs and 300,000 units of Gas stoves, which makes us the largest outsourced manufacturer in India for kitchen appliances with the widest product range. A facility in North India and now South India enables us to service customers more efficiently," it further stated.

Inflame Appliances Ltd, founded in 2017, is now one of the top three manufacturers of kitchen appliances in India, producing electrical chimneys, range hoods, built-in hobs, stoves, and OTGs (oven toaster grills). The company serves 18+ states and offers more than 30 different kitchen chimney types. The company has two facilities: Panchkula, Haryana, and Hyderabad, Telangana (now under construction). Once the Hyderabad manufacturing facility is fully operational, the company will have the potential to produce 600,000 chimneys, 120,000 hobs and 300,000 gas stoves in India.

The company is working towards reaching 100% in-house production with a rejection rate of under 1%. Additionally, 100% recyclable and environmentally friendly packaging is being adopted.

On Monday, the shares of Inflame Appliances opened on the BSE at Rs 668 apiece and were trading at Rs 650 down by 15.90 points or 2.39% while writing this copy. The stock made a 52-week-high of Rs 730.00 on (04/09/2023) and a 52-week-low of Rs 363.10 on (20/03/2023). During Q4FY23, ace investor Ashish Kacholia held fully paid-up equity shares of 3,08,000 or 4.20% stake in the company as per the data of BSE. As per the shareholding pattern of Inflame Appliances for the March 2023 quarter, promoter shareholding in the company was 43.59%, FIIs stake was 1.12%, DIIs stake was 2.24% and public stake was 53.05%.