ECONOMY

TTK Prestige Q4 Review – Innovation Leading To Market Share Gains: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

We remain structurally positive on TTK Prestige Ltd. as-

1. the company continues to invest aggressively in innovation and plans to launch 120 products in FY22. Steady investments in innovation, branding and distribution expansion is resulting in market share gains,

2. there is steady reduction in replacement cycle of the company’s products. It results in structural growth prospects for the company and

3. the improvement in revenue mix is margin accretive.

We model the company to report an earnings compound annual growth rate of 16.5% over FY21-FY23E with:

  1. strong volume growth,
  2. price hikes in mid-teens and
  3. market share gains across segments.

Click on the attachment to read the full report:

ICICI Securities TTK Prestige Q4FY21 Result Update.pdf

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