BQ Prime'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 BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
According to our interaction with management of TTK Prestige Ltd. -
Entry level products are facing demand slowdown; however, premium products continue to do well.
The company remains focused on growing its exclusive brand outlet network and reach of ultrafresh outlets.
The share of online sales has declined to less than 20% as customers return to offline channels.
While input material prices have corrected, we note the complete impact will reflect Q3 FY23 onwards, as TTK Prestige carries high cost inventory.
Adverse economic environment continues to dent the recovery in Horwood Homewares.
The company has now de-risked itself from geographical dependence on south India, as north India now contributes 50% of its revenue.
We model TTK to report revenue and earnings compound annual growth rate of 14% and 10.7% over FY22-FY24E with strong volume growth, stable margins of ~15% and market share gains from the unorganised sector.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
