TTK Prestige Ltd., incorporated in the year 1955, is a Mid Cap company (having a market cap of Rs 12017.84 Crore) operating in Consumer Durables sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 603.39 Crore, down -17.84 % from last quarter Total Income of Rs 734.37 Crore and up 42.12 % from last year same quarter Total Income of Rs 424.57 Crore. Company reported net profit after tax of Rs 85.36 Crore in latest quarter.
Investment Rationale
The brokerage maintains Buy recommendation on the stock with an unchanged target price of Rs.9,897, (37x FY23e EPS of Rs.267.50). At the CMP of Rs.8,529, the stock trades at 41x/ 32x FY22e/FY23 EPS of Rs.206/267.50. Risks: Constrained demand for kitchen appliances, which could impact the company’s domestic business growth prospects. Unfavourable sentiment across the United Kingdom, which could hurt the demand prospects of its subsidiary, Horwood.
Promoter/FII Holdings
Promoters held 70.4 per cent stake in the company as of March 31, 2021, while FIIs held 10 per cent, DIIs 12.5 and public and others 7.1 per cent.
(Disclaimer: Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.
