Home appliance manufacturers experienced significant gains on Wednesday as India's LPG supply crisis drove investor sentiment toward alternative cooking solutions. According to The Economic Times, TTK Prestige shares surged 7.22%, while Stove Kraft gained 1.56% and Butterfly Gandhimathi Appliances rose 0.68% during the session. These companies are well-positioned to benefit from the shift toward induction cooktops and electric cooking appliances as traditional LPG supply remains constrained. The rally occurred despite broader market weakness, with the Nifty 50 declining 241.65 points, or 1% to 24,019.95. Market participants believe that if LPG supply constraints persist, households and commercial kitchens may temporarily shift towards induction or electric cooking devices, benefiting companies such as TTK Prestige, Stove Kraft and Gandhimathi Appliances.
The gas crisis stems from the prolonged closure of the Strait of Hormuz due to the ongoing Iran-Israel conflict, as reported by The Economic Times. The raging war between Iran and Israel-US has led to severe disruptions to tanker traffic as Iran continues targeting vessels attempting to pass through the corridor. Despite assurances from US President Donald Trump, the strait effectively remains closed for traffic, with Iran's Islamic Revolutionary Guard Corps threatening to block oil shipments from the Gulf unless attacks stop. The supply crunch has emerged after the government revised the priority order for allocation of domestically produced natural gas following the West Asia crisis, with LPG production now placed alongside compressed natural gas and piped cooking gas among the top priority sectors. About 62% of India's LPG demand is met through imports, making the country particularly vulnerable to disruptions in maritime supply routes.
The supply constraints have resulted in gas prices surging in India, with domestic cooking gas now costing ₹60 more per cylinder, while commercial LPG price rose by ₹114.5, according to The Economic Times. The Federation of Hotel and Restaurant Associations of India (FHRAI) has warned that several hotels and eateries in Mumbai may be forced to shut operations within the next two days if the supply situation is not resolved. Supply shortages have been reported in several cities, including Mumbai and Bengaluru, with restaurants warning of potential closures due to insufficient fuel availability. Lack of commercial LPG cylinders has led to stocks lasting only 1-2 days, according to industry reports. The supply disruptions have prompted many consumers and commercial establishments to consider alternative cooking solutions that reduce dependence on LPG.
The LPG crisis has created a sharp spike in demand for induction cooktops and other electric cooking appliances, with sales rising between 60% and 300% in some markets, as reported by News18. From Vidyarthi Bhavan to small eateries, LPG crisis pushes Bengaluru hotels towards temporary shutdown, with the situation leading to widespread disruption of restaurant operations. Quick commerce platforms have already seen a spike in induction cooktop sales, indicating growing demand for alternative cooking solutions. Indian Railway Catering and Tourism Corporation (IRCTC) issued a directive to all its licensees to adopt alternate cooking methods such as microwave ovens and electric induction systems at railway food centres. This directive reflects the broader shift toward electric cooking options as traditional LPG supply remains constrained.
TTK Prestige generates around 35% of its revenue from pressure cookers, while cookware and gas stoves contribute roughly 17–18% each, with induction cooktops accounting for about 10–12% of the company's revenue. The company reported FY25 revenue of ₹2,894 crore and is targeting ₹5,000 crore in revenue by FY27. Gandhimathi Appliances, known for its Butterfly brand, has a strong presence in South India, which contributes about 77% of its revenue, operating through a distribution network of over 500 distributors and 25,000 retail outlets. Stove Kraft has seen strong traction in its induction cooktop segment, which contributes nearly 49% of its revenue, alongside chimneys and hobs, while the company has expanded through partnerships with global retailers such as IKEA. Industry experts note that rising urbanisation, premiumisation of kitchens and increasing adoption of energy-efficient cooking appliances are structural drivers for the sector, though the current rally appears largely linked to short-term supply concerns in LPG markets.
