TTKPRESTIG - TTK Prestige

📊 NSE: TTKPRESTIG 🏢 Domestic Appliances 📅 Last Updated: 12/14/2025 14:34

💰 Financial Performance

Revenue Growth by Segment

Pressure Cookers (29-31% of revenue), Cookware (15-16%), and Appliances (44-49%). H1 FY26 total sales grew 8.1% YoY to INR 1,361.4 Cr, with domestic sales up 7.8% to INR 1,324.6 Cr and exports up 20% to INR 36.8 Cr.

Geographic Revenue Split

The company has successfully expanded from a South India focus to deriving over 50% of its revenue from non-south markets (West, North, and East).

Profitability Margins

Operating margins moderated to 9.6% in FY25 from 10.7% in FY24. H1 FY26 operating EBITDA margin was 11.1% (impacted by transformation costs), while pre-provision margin was 13.7% compared to 11.7% in the prior year.

EBITDA Margin

11.1% in H1 FY26. Core profitability is currently impacted by an annual spend of INR 70-80 Cr on organizational transformation, which is expected to continue for 2-3 years to drive long-term efficiency.

Capital Expenditure

Planned annual capital expenditure of INR 60-70 Cr, primarily funded through internal cash accruals of INR 200-220 Cr per fiscal.

Credit Rating & Borrowing

CRISIL Ratings: Stable. The company maintains a robust financial risk profile with negligible gearing of 0.02x and a debt-free standalone balance sheet as of March 31, 2024.

⚙️ Operational Drivers

Raw Materials

Aluminum, Steel, and Plastic components (specific percentage of total cost not disclosed).

Capacity Expansion

Commissioned a 500-kilowatt solar rooftop in FY25, increasing renewable energy consumption to 6.5%.

Raw Material Costs

Susceptible to volatility in aluminum and steel prices; margins were historically impacted by high-value carryover inventory and a Q4 FY23 inventory write-off.

Manufacturing Efficiency

Transformation initiatives target overall business excellence and sustainable cost savings to improve operating leverage.

Logistics & Distribution

Leverages an expansive distribution network to penetrate non-south markets, which now contribute over 50% of revenue.

📈 Strategic Growth

Expected Growth Rate

8-10%

Growth Strategy

Growth will be driven by a strong double-digit expansion in e-commerce, a bounce-back in Military Canteen (CSD) sales, and a multi-year organizational transformation focusing on new product designs and go-to-market strategies.

Products & Services

Pressure cookers, cookware, induction cooktops, mixers, built-in ovens, and island chimneys.

Brand Portfolio

Prestige, Judge, Horwood, and Prestige Lifestyle.

New Products/Services

Expansion into the luxury segment with built-in ovens and island chimneys through Prestige Lifestyle stores.

Market Expansion

Targeting increased market share in North, West, and East India to further diversify from its southern roots.

Market Share & Ranking

Leading brand in the Indian kitchen equipment space, particularly in the pressure cooker segment.

🌍 External Factors

Industry Trends

Shift toward e-commerce and premiumization in the luxury appliance segment; industry is benefiting from reduced GST rates and declining interest rates.