TTK Prestige was up and about in trade yesterday with a 7 percent gain, although the stock has cooled off today. In an interview with CNBC-TV18, TT Jagannathan, Chairman of the company discussed how business is progressing this quarter.
Consumer products company TTK Prestige has launched India's first electric domestic mop in a bid to strengthen its clean home category which currently contributes 10 percent to the growth in FY17. CNBC-TV18’s Rukmini Rao caught up with the Chairman of the company TTK Jagannathan and asked him more about the company’s plans.
The TTK Prestige stock is down 15.5 percent from pre-demonetisation high of Rs 6,550. Speaking to CNBC-TV18, Chairman TT Jagannathan said the company has actually gained market share in the last two quarters.
TT Jagannathan, Chairman, TTK Prestige says e-commerce will bring a “dramatic change†for the company‘s sales going forward as the success rate in the segment is good.
In an interview with CNBC-TV18, TT Jagannathan, Chairman, TTK Prestige said that one time expenses and slow growth in market were reasons for disappointing results in the last quarter of FY15.
TT Jagannathan, chairman of TTK Prestige says FY15 margins will be under pressure as topline has been sluggish, but it will reverse in FY16.
Bajaj Electricals CMD Shekhar Bajaj says with winter not setting in yet, sales of winter-dependent products are yet to pick up. Also, with online retailers offering such steep discounts, there is confusion in the minds of consumers.
TT Jagannathan, chairman, TTK Prestige said that he expects the company's EBIDTA margins to be around 12.2 percent going ahead.
The kitchen appliance major's quarterly net profit declined 33 percent year-on-year, revenues fell 15 percent and operating margins too were under pressure.
TTK Prestige has been facing a troublesome last two quarters due to acute power problem in Tamil Nadu. The company is expecting a 10% revenue growth for FY14, which could be a challenge considering for the first half of the year the growth stood at 2%.
For the last ten years, the company has given guidance and maintained it. But this year, TTK Prestige's TT Jagannathan finds it difficult to predict. Depending upon the power situation in the south, the economy, the growth, he feels the company should be able to achieve around 10-15 percent.
The Nifty churns were almost 50 percent or higher over a decade compared to 25-30 percent seen in the developed markets. Significant emergence of new industries like IT and telecom led to a lot of churn in the index.
Shekhar Bajaj, chairman & MD, Bajaj Electricals, says that the company has seen a positive growth in consumer durable and lighting segment. Compared to last year, this year or EBITDA may be slightly higher.
Kitchen appliance major TTK Prestige is confident of achieving 25% sales and revenues growth in FY13. TT Jagannathan, chairman, TTK Prestige told CNBC-TV18 its pressure cooker segment which is normally a laggard witnessed impressive growth this year.
TTK Prestige has announced that it will market high-end tableware, glassware and store-ware range of products along with US-based cookware and cutlery company World Kitchen. TT Jagannathan, chairman of TTK Prestige says, he expects a turnover of Rs 50 crore from the JV in FY13.
TTK Prestige is considering to merge an unlisted entity - Triveni Bialetti Industries Private Ltd (TBI) in a bid to expand its kitchenware business. TT Jagannathan, chairman of TTK Prestige, in an interview to CNBC-TV18, gave his views on how this possible merger will help the company going forward.
TT Jagannathan, chairman of TTK Prestige, in an interview with CNBC-TV18's Latha Venkatesh and Ekta Batra, said that the company's growth has been good so far as cost push has not been very high.
In an interview with CNBC-TV18, TT Jagannathan, Chairman, TTK Prestige said he expects more than 50% in both top-line and bottom-line in Q1.
In an interview with CNBC-TV18, TT Jagannathan, Chairman, TTK Prestige gave his perspective on the road ahead for the company.
In an interview with CNBC-TV18, TT Jagannathan, Chairman, TTK Prestige, spoke about the latest happenings in his company and sector.