Keep TTK Prestige in portfolio: Saurabh Mukherjea

Keep TTK Prestige in portfolio, says Saurabh Mukherjea, Head of Equities, Ambit Capital.

Mukherjea told CNBC-TV18, "TTK Prestige remains the foremost play on aspirational consumption. There is a challenge around induction cook tops, which I think was admitted by management in a country where electricity prices are going up, something like an induction cook tops are bound to suffer. But we very strongly see these price points as an entry point into TTK Prestige."
He further added, "Their export franchise continues to grow from strength-to-strength. Their microchef pressure cookers, which they are selling into Japan, they are selling more than a million units of that at 40 percent operating margin – that itself I think will take the export contribution to earnings to close to 10 percent from hardly anything two years ago. This is now the largest manufacturer of pressure cookers in the world and I also suspect this is the lowest cost manufacturer of pressure cookers in the world – that apart its whole retail strategy around showrooms has done exceedingly well. I would put my own money behind TTK Prestige at these price points. It is definitely worth having in your portfolio."