This Small-Cap Domestic Appliance Manufacturer to Consider Share Buyback on August 2; FIIs Increased Stake in Q1 FY25!
The company’s shares have delivered a return of over 30 per cent in the past 3 months.
TTK Group, founded in 1928 by Mr. T.T. Krishnamachari, has established itself as India’s largest kitchenware company, known for its diverse range of products including foods and personal care items. TTK Prestige, a key entity within the group, was founded in 1955 and went public in 1994. It is renowned for its leading position in the kitchen equipment market, particularly in the pressure cooker segment. In 2012, TTK Prestige formed alliances with global high-end brands for cookware, storeware, water filters, and gas tops.
The Board of Directors of TTK Prestige Ltd is scheduled to meet on August 2, 2024, to consider and approve a proposal for the buyback of fully paid-up equity shares of Rs 1 each. The board will also address related and incidental matters concerning this buyback.
As of today, TTK Prestige Ltd shares closed at approximately Rs 936.65, with a market capitalization of Rs 12,983.28 crore. Additionally, the company’s shares have delivered an impressive return of over 30 per cent in the past 3 months.
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As per the Quarterly Results, in Q1 FY25, the company reported a revenue of Rs 588 crore, an operating profit of Rs 54 crore, and a net profit of Rs 41 crore. For FY24, TTK Prestige generated a revenue of Rs 2,678 crore, with an operating profit of Rs 304 crore and a net profit of Rs 225 crore.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.