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New Delhi, Dec 6 () Kitchen appliances maker TTK Prestige on Friday said it aims to double its turnover by 2024-25, according to a top company official.
 The firm, whose growth rate has come down to single digit, is aiming to get back to its double-digit growth journey again across the segments, such as pressure cooker, cookware, gas stoves, rice cookers and induction cooktops.
 Besides, TTK Prestige has plans to expand its distribution network further and expects higher sales from fast-growing online channels.
 "We are expecting to double our turnover by FY 2024-25," TTK Group Chairman T T Jagannathan told .
 He further added, "This fiscal, we are expecting (a turnover of) Rs 2,100-Rs 2,200 crore."
 On the growth rate, Jagannathan said growth of TTK Prestige has come down but the company is still growing. "Last year, we had a double-digit growth."
 TTK Prestige on Friday also unveiled plans for 2020 aimed at increasing market share across geographies and getting back to double-digit growth in mature categories such as pressure cookers.
 "We are committed to growing our presence and aim to be the number one for consumers in India. As market leaders in the pressure cooker category, we endeavour to increase our share in the kitchen appliance space also," Jagannathan said.
 He also said that online sales currently contribute about 10 per cent of its total sales, and higher contribution is expected from this channel in the coming year.
 However, he also said, "This channel is evolving but the freight is expensive compared to the value of our products."
 In August 2017, the company had acquired the UK-based Horwood Homewares and had introduced Judge Brand in the Indian market. KRH HRS

TTK Prestige aims to double turnover in 5 years

New Delhi, Jan 30 () Kitchen appliances maker TTK Prestige Ltd on Thursday reported a 3.34 per cent increase in consolidated net profit at Rs 60.20 crore for the third quarter ended December. 
 The company had posted a net profit of Rs 58.25 crore in October-December quarter a year ago, TTK Prestige said in a BSE filing. However, net sales fell 1.05 per cent to Rs 587.27 crore during the quarter under review as against Rs 593.54 crore in the year-ago period
 The company's total expenses during December quarter stood at Rs 514.77 crore as against Rs 513.35 crore a year ago.
 Shares of TTK Prestige on Thursday closed 1.90 per cent lower at Rs 5,861 on the BSE. KRH RVK

TTK Prestige Q3 net profit up 3.3 pc at Rs 60.20 cr

IEX, L&T Infotech, TTK Prestige and two other stocks that have ignored the market mood to hit a one-year high

<ul><li>Shares of fast moving consumer goods company fell 5% after the company reported lower than expected volume growth along with cautious commentary.</li><li>The company reported 9% year-on-year growth in net profit to ₹2,187 crore as against ₹2,009 crore in the same quarter last year.</li><li>Further, the company said they remain cautiously optimistic about demand recovery.</li></ul>Shares of consumer goods company <keyword id="6365619" type="General" weightage="20" keywordseo="hindustan-unilever" source="Orion">Hindustan Unilever</keyword> (HUL) fell as much as 5% on Tuesday after the company reported its September quarter earnings. Although the company reported 9% year-on-year growth in net profit to ₹2,187 crore as against ₹2,009 crore in the same quarter last year, investors were disappointed on lower than expected volume growth. The company delivered 4% year-on-year volume growth in the July-September quarter lower than estimates of 5-7%. Food segment that includes products like Horlicks, Kissan, Bru, Kwality Wall’s saw a slowdown in revenue growth. Food segment grew only 7% in the September quarter as against 12% in the June quarter. Hindustan Unilever attributed the dull growth in the food segment to reasonably high sales in the previous quarters. <div type="image" title="HUL cchart" height="900" width="1200" msid="87136921" hostid="261"></div> The company has declared a dividend of ₹15 per share in this quarter. Adding to it, the company gave a cautious remark on the demand recovery. “Looking forward, we remain cautiously optimistic about demand recovery,” said Sanjiv Mehta, chairman and managing director of HUL. Meanwhile, muted consumer sentiment with rising inflation bothered the (fast moving consumer goods) FMCG major. “September quarter witnessed a sequential improvement in trading conditions, albeit remained challenging with unprecedented levels of input cost inflation and subdued consumer sentiments,” added Mehta in a statement to stock exchanges. Cautions comments by HUL will impact the outlook for the sector and competing players like <keyword id="75190" type="General" weightage="20" keywordseo="nestle" source="Orion">Nestle</keyword>, <keyword id="6359432" type="General" weightage="20" keywordseo="britannia" source="Orion">Britannia</keyword>, and <keyword id="6357073" type="General" weightage="20" keywordseo="itc" source="Orion">ITC</keyword>. Shares of other FMCG players also ended lower on October 19. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FMCG companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock change on October 19 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Marico </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dabur </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1% </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/iex-lt-infotech-ttk-prestige-and-two-other-stocks-that-have-ignored-the-market-mood-to-hit-a-one-year-high/slidelist/87132594.cms">IEX, L&amp;T Infotech, TTK Prestige and two other stocks that have ignored the market mood to hit a one-year high</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/dmart-is-continuing-to-do-what-it-knows-best-but-the-street-wants-more/articleshow/87113806.cms">DMart is continuing to do what it knows best but the street wants more</a>

Horlicks and Boost maker HUL sees slowdown in food segment in the last three months

<ul><li><keyword id="1107" type="General" weightage="20" keywordseo="sunil-kataria" source="Orion">Sunil Kataria</keyword>, Chief Executive Officer, India and SAARC, <keyword id="140888" type="General" weightage="20" keywordseo="godrej-consumer-products" source="Orion">Godrej Consumer Products</keyword> Limited has been re-elected as the Chairman of the <keyword id="32717" type="General" weightage="20" keywordseo="indian-society-of-advertisers" source="Orion">Indian Society of Advertisers</keyword>.</li><li>Sunil has led the Society over the past five years.</li><li>The <keyword id="222666" type="General" weightage="80" keywordseo="isa" source="Orion">ISA</keyword> played a significant role in formation of BARC and is closely partnering with it towards advertisers getting robust and credible data.</li></ul>The newly elected Executive Council of the Indian Society of Advertisers (ISA) has elected Sunil Kataria, Chief Executive Officer, India and SAARC, Godrej Consumer Products Limited as the Chairman of the ISA. Sunil has led the Society over the past five years to greater heights garnering support from the fellow Executive Council members, the ISA members and other industry bodies. On his election for the sixth consecutive term as the Chairman of the ISA, Sunil said, “In our journey towards creating greater value proposition for the ISA in the industry, the focus will be to make this unique body even stronger in the future to provide value added support to our members for the new normal and beyond. With the digital advertising having ascended as second only to TV and growing even further, our endeavour this year would be take forward our efforts in the area of digital measurement. The ISA’s plans to work with BARC to create a Multimedia Measurement are progressing in good shape. We heartily thank all fraternity organizations for their strong partnering and this will surely help us scale newer heights. I also acknowledge the continuing support by the ISA members in all our endeavours.” He further added, “In particular reference to the Covid-19 pandemic, I am glad to acknowledge the cooperation of all our members, industry associates, vendors and ISA Secretariat team in staying safe, getting vaccinated and adhering to directives by health authorities and governments”. ISA is the apex national body as a strong voice to advertisers over the last 69 years. Its cross-sector advertiser members contribute to more than half of the annual national non-governmental ad spends. ISA, which is a founder member of the World Federation of Advertisers (WFA) and one of the founders of ASCI, continues to partner with other industry bodies that connect to the advertisers. The ISA played a significant role in formation of BARC and is closely partnering with it towards advertisers getting robust and credible data. Other members of the Executive Council are: Atul Agrawal, Senior Vice President – Corporate Brand and Marketing, Tata Services Limited Narendra Ambwani, Director, Agro Tech Foods Limited Tarun G. Arora, Chief Executive Officer &amp; Whole Time Director, Zydus Wellness Limited Subhadip Dutta Choudhury, Chief Executive Officer, Hawkins Cookers Limited Paulomi Dhawan, Independent Director, Whistling Woods International Neil George, Managing Director, Nivea India Pvt Limited Girish Kalyanaraman, Vice President, Brand Operations, Procter &amp; Gamble Hygiene and Health Care Limited Chandru Kalro, Managing Director, TTK Prestige Limited Devraj Lahiri, Chief Operating Officer - India Tobacco Division, ITC Limited Angshu Mallick, Managing Director &amp; CEO, Adani Wilmar Limited Bharat V. Patel, Independent Director, Aditya Birla Sun Life AMC Limited Anuj Poddar, Executive Director, Bajaj Electricals Limited Ramakrishnan Ramamurthi, Advisor J. K. Enterprises Ram Raghavan, Managing Director, Colgate-Palmolive (India) Limited <keyword id="2907402" type="General" weightage="20" keywordseo="gauravjeet-singh" source="Orion">Gauravjeet Singh</keyword>, General Manager – Media Services (South Asia) Media Dept, Hindustan Unilever Limited Shashank Srivastava, Senior Executive Director (Marketing &amp; Sales), Maruti Suzuki India Limited

Sunil Kataria elected as the Chairman of The Indian Society of Advertisers for the sixth consecutive term

<ul><li>The ₹412 crore IPO of kitchen appliances manufacturer Stove Kraft is now open for public subscription. </li><li>The IPO will remain open for subscription until January 28. </li><li>The shares were commanding a premium of ₹80-90 in the grey market over the set price band of ₹384-385 per share.</li><li>“Company’s brand value, margins and return on capital are lower than its peers so it won’t get such a premium valuation like its peers,” Angel Broking said in its report. </li></ul>The ₹412 crore initial public offering of kitchen appliances manufacturer Stove Kraft is now open for public subscription. This would be the fourth company to launch an IPO this year and second stake sale by private equity firm Sequoia Capital, which recently pared stake in Indigo Paints. The public issue has received mixed reviews from the brokerages, but the grey market is ready to pay a hefty premium for its shares. The shares were commanding a premium of ₹80-90 in the grey market over the set price band of ₹384-385 per share. However, the grey market is not an official measure of the market premium. But it is a fair indicator of demand for the shares in the market. Streets View: <keyword id="10631795" type="UNKNOWN" weightage="20" keywordseo="stove-kraft-ipo">Stove Kraft IPO</keyword> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr></tbody></table> Expensive valuation, weak financials, high manufacturing efficiency and others that led to mix reaction from analysts Aggressively valued IPO According to Angel Broking, the company has priced its issue at 34.5 times the earnings per share in the last 12 months. The metric is called price-to-earnings (P/E) ratio, which shows the price that the market is willing to pay for a stock based on its earnings. Higher the P/E, the more expensive the stock. Bigger peers like TTK Prestige and Hawkins Cookers, get a multiple of 61 times and 47.5 times respectively. While Stove Kraft seems cheaper, analysts aren’t very excited. “Company’s brand value, margins and return on capital are lower than its peers so it won’t get such a premium valuation like its peers,” the brokerage said. <div type="Article" hostid="261" msid="80442243" title="An American electric car maker explains why it took a different route than Elon Musk’s Tesla, Tata Motors or Mahindra" mstype="2" mssubtype="0"></div> Weak financials According to Reliance Securities, the Stove Kraft financials have not been “encouraging” despite seeing a remarkable improvement in margins in the past fiscal year. Even Angel Broking said that the profit for the last financial year ending March 2020 was driven by cost-cutting, which is not “sustainable”. <div type="image" title="Stove Kraft" msid="80444510" hostid="261"></div> The company’s net profit stood at mere ₹3.2 crore in FY20, which improved to ₹28.8 crore in the first half of 2021. However, Reliance highlighted that the company’s net worth stands at negative ₹30 crore as of September 2020. Lags behind its peers The analyst reports highlighted that despite being into operation for more than two decades and setting up a strong distribution network, it has not delivered up to the mark results. The company's business performance is substantially dependent upon its Pigeon and Gilma brands', which have been around for over 15 years. But, according to ICICI Direct, the company’s inability to maintain and promote the brand portfolio can impact future revenue growth. <div type="image" title="Stove kraft market share" msid="80444519" hostid="261"></div> Positives for Stove Kraft's ₹412 crore IPO Diversified kitchen and home appliances portfolio Since its inception, Stove Kraft has grown from a single brand small LPG stove manufacturing company to become one of India's leading manufacturers of kitchen appliances. Along with Pigeon and Gilma, the company has a Licensing agreement to manufacture small domestic appliances under the brand 'Black and Decker'. Expanding business The company recently expanded its production capacity from 19.5 million units per annum to 38.4 million units per annum. The facilities are backwards integrated with the ability to in-house manufacture components required for its products, which reduces its dependence on third-party suppliers and OEMs for its components. The company has an integrated facility at Bengaluru comprising 12 manufacturing units to manufacture pressure cookers, non-stick cookware, hard-odized cookware, mixer grinders, and induction cooktops LPG stove, glass cooktops, IR thermometer and handy vegetable chopper. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/new-realme-stores-in-india-and-ceo-says-there-is-plan-for-new-devices/articleshow/80443801.cms" data-type="tilCustomLink">Realme plans to open 500 new stores in 2021⁠— the CEO reveals the company will go beyond smartphones in the 5G era</a> <a href="https://www.businessinsider.in/budget/news/indias-co-working-sector-wants-recognition-under-real-estate-tax-benefits-as-flexible-workspaces-aim-for-a-significant-revival-in-the-post-covid-era/articleshow/80431768.cms" data-type="tilCustomLink">India’s co-working sector wants recognition under real estate, tax benefits as flexible workspaces aim for a significant revival in the post-COVID era</a>

You Searched For "ttk prestige" and got 6 results

TTK Prestige aims to double turnover in 5 years

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TTK Prestige Q3 net profit up 3.3 pc at Rs 60.20 cr

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IEX, L&T Infotech, TTK Prestige and two other stocks that have ignored the market mood to hit a one-year high

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Horlicks and Boost maker HUL sees slowdown in food segment in the last three months

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Sunil Kataria elected as the Chairman of The Indian Society of Advertisers for the sixth consecutive term

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Sequoia-backed Stove Kraft IPO: The hefty grey market premium is not in sync with what analysts have to say

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