TTK Prestige Limited

TTK Group was founded in 1928 founded by Mr. T.T. Krishnamachari who set up the distribution for a wide range of products ranging from Foods, Personal care products, etc. The company is India's largest kitchenware company. TTK Prestige was Established in 1955 as a private limited company, TTK went public in 1994. It is among the leading brands in the kitchen equipment space, especially in the pressure cooker segment. In 2012 Company had an Alliances with global high-end brands for high-end cookware/Store ware/Water Filters/ Gas-tops. Prestige is a leading brand in Pressure cookers, Cookware, Value-added Gas Stoves, Induction Cooktops & Rice Cookers. It is India's only company to offer the complete Induction Cooking solution. The company introduced 25 new SKUs in Q3FY24 across all categories. The company is slated to launch around 49 new SKUs during Q4 of FY 24. The company has 5 manufacturing plants at Hosur, Coimbatore, Karjan, Roorkee, Khardi, and 2 dedicated Research and Development centers. The company has 665 Prestige Xclusive stores across 28 States and 374 Towns. The service network has significantly expanded to 504 centers compared to 464 in FY21. The financials of the company is almost static, RoNW is 11.2% and at CMP its looks fully priced. Price difference is around 22% from CMP and acceptance ratio as per current share holding for retail will be around 3%, so final buyback ration may be within 10% and one may get around 1-3% on investment. So we give AVOID rating to this buyback, those who are currently holding may participate in buyback.

• 1 Mr. Rajesh Pirogiwal
• 2 Mrs. Sunita Pirogiwal
• 3 Miss Tanvi Pirogiwal