Inflame Appliances Limited

Manufactures kitchen appliances and chimneys from two plants in Panchkula and Hyderabad. The core product is kitchen chimneys, which contributed the bulk of FY26 revenue, with output of 2.70 lakh units (up 38% YoY) and BLDC-fitted models making up 60% of chimney production. The Hyderabad plant supplies OEMs including Crompton, IRB and KAFF with premium built-in chimneys. Other products in the portfolio include LPG stoves, cooktops, OTGs and sheet metal components, and the company is launching built-in refrigerators (ASP ₹38–40k), wine coolers (₹30–35k), dishwashers, hobs and built-in ovens to broaden revenue beyond chimneys, which are expected to settle at 60–65% of revenue going forward. A 34% stake has been taken in Tricoree Machmatrix to manufacture BLDC motors, PCBs and switches in-house, reducing dependency on China and pre-empting expected BIS extension to motors. Capacity utilisation across both plants stood around 50% in FY26, with ₹10 crore of CapEx underway to add 12,000–15,000 chimneys of annual capacity at Panchkula. Raw materials are the dominant cost at 72% of revenue, and the company says 100% price pass-through has not been possible.