Q4FY21 Result Update - TTK Prestige - ICICI Direct

With renewed interest in cookware & kitchen appliances demand, TTK continued to report a solid operational performance in Q4FY21 with strong beat across all parameters. Revenue for the quarter grew 44.7% YoY (two-year CAGR: 6.4%) to Rs. 554.9 crore (I-direct estimate: Rs. 518.2 crore), partly attributable to favourable base (revenue fell 21%). Domestic sales grew 41.5% YoY to Rs. 533 crore whereas exports sharply increased 218% YoY to Rs. 21.9 crore. On segmental front, cooker (31% of sales), cookware (16% of sales), appliances (48% of sales) categories posted strong revenue growth of 49%, 67%, 34% YoY, respectively. Despite rise in RM prices, gross margins improved 210 bps YoY (410 bps QoQ) to 45.6%, largely due to price hikes and better channel mix (offline channels performed better than online). Owing to positive operating leverage (employee, other expenses as percentage of sales down 245 bps, 480 bps YoY, respectively) TTK reported one of its all-time high EBTDA margins of 18.5% (up 930 bps YoY, 110 bps QoQ). On the back of a healthy operational performance, exceptional gain of Rs. 11.9 crore (reversal of provision for export obligation made in previous years), ensuing PAT came in at Rs. 82.4 crore vs. Rs. 20.9 crore in Q4FY20.

For details, click on the link below: Link to the report

Shares of TTK PRESTIGE LTD. was last trading in BSE at Rs.8390 as compared to the previous close of Rs. 7359.1. The total number of shares traded during the day was 10782 in over 3786 trades.

The stock hit an intraday high of Rs. 8659.15 and intraday low of 7378.2. The net turnover during the day was Rs. 86751883.

Source : Equity Bulls

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