Buy TTK Prestige; target of Rs 1420: ICICI Direct

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 a market leader in the cooker segment and has material share in other appliance and cookware categories. The company, over the years, has maintained its balance sheet strength with strong cash reserves (~Rs 500+ crore) and healthy RoIC of 30%+.

Outlook

We continue to remain positive and maintain our BUY rating on the st. We value TTK at Rs 1420 i.e. 50x FY24E EP.

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