ICICI Direct has given Buy recommendation for TTK Prestige recommended buy rating on the stock with a target price of Rs 1420 in its research repo with a target price of Rs. 1420 in its research report issued on Dec 14, 2021

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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