Urban areas have recovered post demonetisation, that is the word coming in from TTK Prestige. In an interview to CNBC-TV18 TT Jagannathan, Chairman, TTK Prestige said the company is eyeing double digit growth once the impact of demonetisation subsides completely.
He was of the opinion that retail sales has picked up, post the demonetisation trauma. However, he was quick to add that their sales has not seen as much an uptick as dealers had stocked down due to cash crunch. He also said he is hoping that the situation improves and the dealers and wholesalers will get back to their cash positions in the next two quarters.
Jagannathan said pressure cookers saw a very robust growth. However, he said there will be a negative impact on margins due to increasing metal prices. He also said going into FY18 you may witness some price hikes on some products.
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