TTK Prestige Q3 Results Review - Demand Environment Remains Soft; Maintain Add: 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.'s revenue grew 5.3% on YoY basis. Revenue growth was largely aided by shift of the festive season to Q3, otherwise discretionary demand environment continues to remain subdued. Moreover, the sentiment in the channel has also taken a hit with the traditional channel are reluctant to stock the products post the festive season.Gross margins have been largely maintained despite the discounting that the company had to resort to protect its market share as various regional brands have been indulging in excessive discounting.TTK Prestige now expects demand trends to be favorable in post couple of quarters as wallet share of the customer normalises and impact of strong real estate sales trickle down to the kitchen appliances.TTK Prestige aspires of mid-teens growth and has strategized for the same once the demand trends become favorable. Given the muted demand environment and lower margin trajectory on back of intense competition, we continue to maintain our 'Add' with the target price of Rs 883.We will be outwardly bullish on the stock once we see demand returning to the kitchen space..Click on the attachment to read the full report:.Brigade Enterprises Shares Hit Life High On Q3 Revenue Jump, Fundraise Plans.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 Q3 Results Review - Demand Environment Remains Soft; Maintain Add: Yes Securities

We continue to value the company at 40 times and roll forward out target multiple to FY25 and arrive at target price of Rs 883.

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TTK Prestige Q3 Results Review - Demand Environment Remains Soft; Maintain Add: Yes Securities

We continue to value the company at 40 times and roll forward out target multiple to FY25 and arrive at target price of Rs 883.

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