Buy TTK Prestige; target of Rs 10675: ICICI Direct

ICICI Direct's research report on TTK Prestige

TTK Prestige is India’s leading player in kitchen solutions and has successfully transformed itself from a company manufacturing pressure cookers to having an entire gamut of home and kitchen appliances. It continues to be market leader in the cooker segment and has material share in other appliance and cookware categories Over the years, the company has maintained its balance sheet strength with strong cash reserves and healthy RoIC of 30%+

Outlook

We continue to remain positive and maintain our BUY rating on the stock We value TTK at Rs 10675 i.e. 44x FY23E EPS