**TTK Prestige – Q3 FY20 (Un Audited –Cons)**
Total revenue from operations at 587 Cr
594 Cr (-1.12%) YoY | 606 Cr (-3.38%) QoQ
Nine Months ending revenue: 1,655 Cr Vs. 1,625 Cr (1.81%)
Net Profit of 60.2 Cr
58.2 Cr (3.41%) YoY 80.3 Cr (-25.19%) QoQ
Nine Months ending Net profit: 176.3 Cr Vs. 147.5 Cr (-19.63%)
EPS (in Rs.) 43.3
42.03 YoY | 57.96 QoQ
Nine Months ending EPS: 127.2 Vs. 106.4
View: Average result and slightly below expectation. YoY and QoQ revenue marginally decreased and profit slightly up in YoY. Operating profit margin is decreased as compare to QoQ and YoY.
**Business Updates & Highlights**:
EBITDA in Q3FY20 is around INR 88.7 Cr Vs. 91.8 Cr in Q3FY19 Vs. 92.6 Cr in Q2FY20. Therefore EBITDA declined in YoY and QoQ.
9MFY20 EBITDA is around INR 244.7 Cr Vs. 242.2 Cr in 9MFY19.
ROE and ROCE is around 18% and 22% respectively and book value per share is around INR 880 and share is currently trading at 6.7x of its book value. Company is currently trading at annualized PE of around 38 which is fair as per Industry benchmark. Promoter holding in the company is around 70.4% which is too good and stable, FIIs and mutual fund hold around 9.9% and 9.5% respectively.
**Share View**: Share price high 7,738 and currently its trading at 5,966. TTK Prestige Limited is an Indian company that manufactures kitchen appliances and cookware, under the Prestige brand. The company is best known for its pressure cookers.
Long term investor can continue with the company with target price of INR 6400. Share support price is INR 5600.
Opportunities: Prestige cooker is very popular among Tier II & Tier III cities and easily available at villages also. The company has old proven track record and strong dealership network in the country.
Risk: Poor sale growth in past various quarters. Increasing growth is challenge for upcoming years. Although product is very popular but growth is highly uncertain.
Disclaimer: Views are shared based on market research and study and personal in nature. Others can take the different view and opinions. Please do the thoroughly study before enter or exit the shares.