Premium homes, changing lifestyles help organise the fragmented kitchen appliances market, encourage brands to step up the game
TTK Prestige standalone net profit rises 18.37% in the September 2017 quarter
TTK Prestige, a leading kitchen and electric appliance maker in India, expects see a huge opportunity in rural market this year as the thrust towards infrastructure would mean more houses with kitchens that need appliances.. "People in rural areas will be the ones with the disposable income. The Rabi crops have had a great yield. The growth rate has also been revised. This will all lead to a better rural growth for us, " said Chandru Karlo, Managing Director at TTK Prestige in an interview. "Rural is big this year"Karlo says with the announcement of the various schemes in the infrastructure sector, there will be new homes in the rural areas leading to more kitchens which would work in the favour of the company. In the last quarter, in the month of November the company saw the sales go down by 35 per cent due to demonetisation. "While Diwali was over in October, the next two months are huge for us mainly because it is the wedding season specially in the North. We lost a lot in that, ...
The stock dipped 10% to Rs 5,850 on the NSE in intra-day trade.
The company had acquired UK-based cookware brand Horwood Homewares in April this year
Shares of the company were trading at Rs 5,196.25 apiece, down 2.67% from the previous close
The Bengaluru-based entity expects annual export to grow 10-fold to Rs 500 crore
The stock surged 9% to Rs 4,735 after reported profit of Rs 21.62 crore in Q4FY16 against Rs 9.76 crore in Q4FY15.
The company expects its home cleaning business to contribute 5% of the firm's total revenue in the first year
TTK Prestige will get access to over 2,000 table and cookware products and access to key European markets with Horwood; deal value unknown
The stock rallied nearly 8% to Rs 4,690 on the BSE in early morning trade.