The TTK Prestige counter has been witnessing hectic activity of late. On Wednesday, the stock surged by 7.8 per cent. More than 25,000 shares changed hands at the bourses. According to dealers, the stock is witnessing increased buying interest from institutions. | |
| The company is engaged in the manufacturing and marketing of pressure cookers, non-stick cookware and kitchen electrical appliances under the "Prestige" brand. The company has a presence in the US under the Mantra brand and plans to introduce its Prestige brand there too. It also plans to enter the markets in West Asia and Africa. |
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| TTK, which has 54 stores in south India, has chalked out plans to open exclusive branded stores "Prestige Brand Kitchen" at 46 locations across the country. |
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| It is also planning to enter the modular kitchen market which is expected to fare well due to a boom in the housing sector and the spurt in demand for high-end interiors. For the first half of FY06, net sales increased by 19.5 per cent to Rs 100.46 crore. |
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| Operating profit increased by 78.9 per cent to Rs 8.41 crore and operating margins improved by 278 bps to 8.37 per cent. Net profit increased by a staggering 892 per cent to Rs 2.58 crore and net margins improved by 227 bps to 2.53 per cent. |
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| The stock trades at a trailing price to earnings multiple of 39.3 times. |
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