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Buy TTK Prestige; target of Rs 1130: ICICI Direct

ICICI Direct is bullish on TTK Prestige has recommended buy rating on the stock with a target price of Rs 1130 in its research report dated July 29, 2022.

July 31, 2022 / 01:50 PM IST
 
 
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ICICI Direct's research report on TTK Prestige


TTK Prestige is India’s leading player in kitchen solutions and has been successful in transforming 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 • Company over years has maintained its balance sheet strength with strong cash reserves (~Rs 400+ crore) and healthy RoIC of 35%+.



Outlook


Company’s ability to generate strong free cash flows and healthy ROIC, propel us to maintain BUY rating on the stock. We value TTK at Rs 1130 i.e. 40x FY24E EPS.

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TTK Prestige - 290722 - ic

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first published: Jul 31, 2022 01:50 pm
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