In an interview to CNBC-TV18, TT Jagannathan, Chairman of TTK Prestige spoke about the results and his outlook for the company.
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.
TTK Prestige has reported a strong set of Q2FY18 earnings. In an interview to CNBC-TV18, TT Jagannathan, Chairman of the company spoke about the results and his outlook for the company.
In an interview to CNBC-TV18, TT Jagannathan, Chairman of TTK Prestige spoke about the results and his outlook for the company.
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.
"There is an improvement in demand. We see very sharp growth in the month of July than last year, let us hope it continues", TT Jagannathan, Chairman of TTK Prestige said.
TT Jagannathan, Chairman of TTK Prestige sees the benefit of lower raw material costs continuing until at least the second quarter this year.
TT Jagannathan, Chairman of TTK told CNBC-TV18 that the revenues would have grown by 20 percent had the Chennai floods not impacted operations.
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.
Speaking to CNBC-TV18, TTK Prestige chairman TT Jaggannathan says October has been a very strong month for the company.
TTK Prestige chairman TT Jagannathan says falling commodity prices will perhaps improve margins by 1 percent in the next quarter
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.
The exports for the company for the quarter ended December stood at Rs 13.5 crore and for fourth quarter it would be around 16 percent, said Jagannathan of TTK Prestige.
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%.
TTK Prestige attributes flat growth in the second quarter to bad market conditions in the Southern areas of the country. Meanwhile, the company is hopeful of better topline and bottomline growth going forward.
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.
TTK Prestige says it cannot predict recovery unless power shortage in Tamil Nadu is sorted out.
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.
TT Jagannathan, Chairman, TTK Prestige attributed the fall in profit to a depreciating rupee and the high cost of aluminium. Scarcity of electricity in its manufacturing plant at Tamil Nadu along with high cost of power contributed to the losses, he added.