TTK Prestige Q3 Review - Well Placed To Capitalise On Strong Demand: ICICI Direct
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ICICI Direct Report
TTK Prestige Ltd. reported strong topline growth of 24.4% YoY to Rs 679.4 crore.
The management indicated that it lost approximately Rs 20-30 crore on account of non-availability of certain stock keeping units for which the management is shifting the sourcing from China to domestic vendors.
Domestic kitchen and home appliance demand was strong as people were working from home most of the time and also due to accentuated preference for home-cooked food.
Growth was broad-based with cooker (30% of sales), cookware (15% of sales) and appliances (51% of sales) categories registering strong revenue growth of 29%, 34% and 19% YoY, respectively
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