TTK Prestige Q1 Results Review - Demand Environment To Improve; Assign Neural Rating: Yes Securities

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Yes Securities Report.TTK Prestige Ltd. delivered flattish revenue growth (2.7% lower than estimates). Flattish revenue growth was on due to liquidation of trade sock and larger share of wallet going towards summer related products. On the channel from the new age channels like modern trade, Ecommerce, quick commerce continues to do well, traditional GT channel has been subdued.Rural Channel driven by microfinance institution has not performed well as they were impacted by elections. The company has able to maintain its gross margins, while negative operating leverage has impacted Ebitda margins. On the positive front month of June has seen double digit growth with growth momentum being carried in Q2 as well.TTK Prestige has chalked out the growth strategy where it will be aggressively focus on launching new innovative products which has been lacking by the company. New products have been contributing large part of the sales and management expects industry demand to come back in next couple of quarters.Management transition has been smooth, and Venkatesh Vijay Raghavan will take over as Managing Director and Chief Executive Officer of the company from October 1, 2024. Expectation of the industry growth, management chalking out strategy of outperforming industry and higher number of new launches we increase the target multiple to 45 times versus 40 times earlier and arrive at target price of Rs 978. We now assign Neutral rating as there is limited upside from the current market price..Click on the attachment to read the full report:.Ceigall India IPO: Price Band Fixed At Rs 380–401 Per Share.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

TTK Prestige Q1 Results Review - Demand Environment To Improve; Assign Neural Rating: Yes Securities

The brokerage remains mildly positive on the stock as company has performed relatively better than peers in the challenging environment.

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TTK Prestige Q1 Results Review - Demand Environment To Improve; Assign Neural Rating: Yes Securities

The brokerage remains mildly positive on the stock as company has performed relatively better than peers in the challenging environment.

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