TTK Prestige Share Price Target Forecast 2022, 2023, 2025, 2030

14 DECEMBER 2021

ICICI Direct recommends TTK Prestige with a target price of Rs 1420.

In its research report dated December 14, 2021, ICICI Direct is positive on TTK Prestige, recommending a buy rating on the company with a target price of Rs 1420.

TTK Prestige research report by ICICI Direct

TTK Prestige is India’s top kitchen solutions provider, having successfully transitioned from a pressure cooker manufacturer to a complete line of home and kitchen equipment. It is still the market leader in the cooker category and has a significant proportion of the market in other appliance and cookware categories. The firm has maintained its balance sheet strength throughout the years, with substantial cash reserves (Rs 500 crore+) and a good RoIC of 30%+.

Outlook

We remain optimistic and retain our BUY recommendation on the stock. TTK is valued at Rs 1420, or 50 times FY24E EP.

Moneycontrol.com is the source for this information.


30 November 2021

TTK Prestige has set December 15 as the record date for stock splits; the stock is up 5% so far today.

On Tuesday’s trading session, TTK Prestige stock rose after the business announced the record date for the sub-division of equity shares.

The business’s board of directors set December 15, 2021 as the record date for the sub-division/stock split of Rs10/- each equity share of the company into Rs1/- equity shares.

“We therefore undertake that the Company shall set up Auto Corporate Action with both the Depositories – CDSL & NSDL for execution prior to the beginning of the day (BOD) on the trading day following the Record Date,” TTK Prestige added.

TTK Prestige further said that the business will settle any complaint arising from the company’s inability to fulfil all processes for the execution of an Auto Corporate Action.

TTK Prestige was selling at Rs10024.10 per piece at around 2.03 pm, up Rs231.70 or 2.37 percent on the Sensex.

On the same index, the stock touched an intraday high of Rs10256.30 per piece.

TTK Prestige’s stock has risen over 5% on the Sensex so far today.

Indiainfoline.com is the source for this information.


25 November 2021

TTK Prestige will acquire 51% of Ultrafresh Modular Solutions.

Ultrafresh Modular Solutions is a modular kitchen and kitchen equipment company with a large number of franchisee stores in India.

Ultrafresh was founded in 1992 and began selling modular kitchens in 2018. It began with a revenue of Rs 9 crore in FY19, increasing to roughly Rs 13 crore in FY20, and Rs 12 crore in FY21.
Over the previous three years, Ultrafresh has developed design competence and built design studios and franchise shops throughout India, totaling roughly 85.

Ultrafresh will be able to benefit from UK Prestige’s experience while aggressively expanding its modular kitchen business, which includes a variety of kitchen accessories. UK Prestige will be able to take advantage of Ultrafresh’s network to expand Prestige’s reach into many additional households.

“With a rapidly growing house construction sector and customer desires to remodel their kitchens, branded modular kitchens are gaining traction. As a result, this investment has considerable synergies with TTK Prestige’s company. It is intended to support TTK Prestige’s long-term goals and growth “In a statement, the firm stated.

The deal is for a cash consideration of around Rs 30 crore, which would be paid out in phases, eventually giving Ultrafresh Modular Solutions a 51 percent ownership stake.

TTK Prestige will initially own roughly 40% of the shares in Ultrafresh and will control 51% of the equity when the transaction is completed. The purchase will be completed by January 31, 2022.

TTK Prestige jumped 2.19 percent to Rs 9859.55 as the company’s consolidated net profit increased 58.21 percent to Rs 103.53 crore in Q2 September 2021 over Q2 September 2020, thanks to a 34.86 percent increase in net sales to Rs 858.55 crore.

The company’s board of directors adopted a 10-for-1 stock split in October.

Under the Prestige brand, TTK Prestige manufactures kitchen equipment and cookware.

Business-standard.com is the source for this information.


29 JULY 2021

ICICI Direct recommends buying TTK Prestige with a target price of Rs 10675.

In a research report dated July 28, 2021, ICICI Direct advised a buy rating on TTK Prestige with a target price of Rs 10675.

TTK Prestige research report by ICICI Direct

TTK Prestige is India’s top kitchen solutions provider, having successfully transitioned from a pressure cooker manufacturer to a complete line of home and kitchen equipment. It is still the market leader in the cooker category and has a significant proportion of the market in other appliance and cookware categories. The firm has maintained its balance sheet strength throughout the years, with solid cash reserves and a robust RoIC of 30%+.

Outlook

We remain optimistic and retain our BUY recommendation on the stock. TTK is valued at Rs 10675, or 44 times FY23E EPS.

Moneycontrol.com is the source for this information.


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