TTK Prestige Ltd Share Price – NSE  /  BSE

Consumer Durables, Small Cap

TTK Prestige has entered into a binding agreement with GramyaHaat Rural Tech (GramyaHaat) in which the company will be subscribing to Compulsorily Convertible Debentures which, as and when the conversion takes place, is likely to result in equity of more than 5% in GramyaHaat.

GramyaHaat is a start-up company for exploring Rural market through physical stores as well as through village level entrepreneurs.

TTK Prestige will not have controlling stake in GramyaHaat. The total commitment is of the order of Rs. 15 crore of compulsorily convertible debentures of which Initial investment will be of the order of Rs. 5 Crores. This is not a related party transaction.

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TTK Prestige announced that the 68th Annual General Meeting (AGM) of the company will be held on 21 August 2024.

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TTK Prestige announced that the Board of Directors of the Company at its meeting held on 28 May 2024, inter alia, have recommended the final dividend of Rs 6 per equity Share (i.e. 600%) , subject to the approval of the shareholders.

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Revenue from operations fell 1.89% YoY to Rs 622.56 crore in the quarter ended 31 March 2024.

Profit before tax in fourth quarter of FY24 stood at Rs 74.52 crore, down 4.54% from Rs 78.07 crore recorded in the corresponding quarter previous year.

On standalone basis, the household appliances maker's net profit rose 6.36% to Rs 63.13 crore on 2.54% increase in revenue from operations to Rs 580.44 crore in Q4 FY24 over Q4 FY23.

EBITDA grew by 5.37% to Rs 100 crore in the quarter ended 31 March 2024 as compared to Rs 94.9 crore posted in the same quarter previous year. EBITDA margin improved to 17.2% in Q4 FY24 as against 16.8% in Q4 FY23.

Total sales stood at Rs 580.4 crore in Q4 FY24 as compared with Rs 566 crore posted in Q4 FY23, registering the growth of 2.5%. Domestic sales stood at Rs 566.9 crore (up 2.8%) while exports was at Rs 13.5 crore (down 7.53% YoY).

On full year basis, the company's consolidated net profit fell 11.61% to Rs 225.33 crore on 3.56% decrease in revenue from operations to Rs 2,678.05 crore in FY24 over FY23.

Meanwhile, the company’s board has recommended a dividend of Rs 6 per share for the financial year 2023-24 which will be paid within 30 days from the date of AGM, subject to the approval of the shareholders at the ensuing 68th Annual General Meeting of the Company.

TTK Prestige manufactures kitchen appliances and cookware, under the Prestige brand.

Shares of TTK Prestige declined 0.19% to currently trade at Rs 780.05 on the BSE.

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