TTK Prestige Limited

Consumer Cyclical — Furnishings, Fixtures & Appliances · NSE

₹527.95+₹9.70 (+1.87%)

DalalBaazaar Score

45 / 100

🟡 Moderate

Verdict

NEUTRAL

Risk

Moderate

Driven by high debt relative to equity, small-cap size, which brings sharper price swings.

In simple words: Reasonable but unspectacular business quality, with both sales and profits growing well. Debt is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:47 pm

Understanding the Business

Company site ↗

The 60-second version of TTK Prestige Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

TTK Prestige Limited, together with its subsidiaries, manufactures and sells kitchen and home appliances under the Prestige and Judge brands in India and internationally.

IndustryFurnishings, Fixtures & Appliances

SectorConsumer Cyclical

Employees1,476

Annual revenue₹2,950 Cr

How does it make money?

Turns over ₹2,950 Cr a year. Of every ₹100 of sales, about ₹5 reaches shareholders as profit, with ₹11 left at the operating level before interest, tax and depreciation. Each of its 1,476 employees supports ₹2.00 Cr of revenue a year, the signature of a capital- or asset-led business.

Revenue / employee₹2.00 Cr

Who are its competitors?

The closest listed comparisons in its industry are HAVELLS INDIA LIMITED, VOLTAS LTD, TITAN COMPANY LIMITED. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Little sign of one

Returns on capital of 10.8% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

Peer median ROE17.1%

What is the outlook?

7 analysts covering the stock expect revenue to grow about 9.4% and earnings to grow about 23.5% in the year to 2028. These are estimates by people who follow the company, not a forecast for the wider industry.

Est. revenue growth+9.4%

Est. earnings growth+23.5%

Analysts7

What has been driving growth?

Profit has moved mainly because margins changed, not because the business sold much more. Over 3 years revenue moved +7% while net margin moved -41% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect+7%

Margin effect-41%

DalalBaazaar Score

45/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ Revenue CAGR of only 2.3% — barely ahead of inflation
✗ Profit has declined at 14.2% a year

Quality vs. Valuation

Company Quality

43/ 100

Weak

How good the business is, ignoring the share price entirely.

Valuation

57/ 100

Fair

What you are being asked to pay, ignoring how good the business is.

Weak on business quality and not cheap enough to compensate.

Historical Valuation

Current P/E

37.9x

3Y Median

45.0x

40 monthly readings · mean 52.1x · range 36.1x–82.1x

Sector Median

68.5x

median of 3 sector peers

🟢Current valuation is approximately 16% below its 3y median of 45.0x. Cheaper than its own history, which is worth a reason too: the market may be pricing in something the backward-looking numbers do not show.

🟢Against its sector it trades 45% below the peer median of 68.5x.

vs. its own history

Fair

45.0x median over 40 months · -16%

vs. sector peers

Cheap

68.5x median of 3 peers · -45%

vs. generic bands

Expensive

Above 35x

EV/EBITDA

22.1x

PEG

—

What's Good / What's Bad

🟢 What's Going Well1

Consistently profitable
Profitable in every one of the last 4 reported years.

🔴 What Needs Attention2

Return on equity is falling
ROE has dropped from 13.1% to 8.1% — each rupee of shareholder capital earns less than it did.
Return on capital is falling
ROCE has declined from 16.8% to 10.8% — often a sign of competition or overexpansion.

Red Flags

4 items require attention · 1 high · 3 watch

🔴High leverageFinancial
Debt/Equity of 8.80x — earnings must service borrowings before shareholders see anything.
🟡Debt is increasingFinancial
Total debt is up 33% over 3 years.
🟡Profit is decliningFinancial
Net profit is down 37% over 3 years.
🟡Margins are compressingFinancial
EBITDA margin is down 3.2 points over 3 years.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Cheaper than its peers
It trades 45% below the sector median. Either the market sees a problem the numbers do not show, or the discount closes.
Earnings have proved durable
Profitable in every one of the last 4 reported years. Consistency lowers the risk that any single bad year is structural rather than cyclical.

🔴 Bear CaseWhat could go wrong?

Margins are being competed away
EBITDA margin has fallen from 14.5% to 11.3%. If the trend continues, profit falls even on flat sales — and margin decline rarely reverses quickly.
Leverage amplifies any setback
Debt/Equity of 8.80x. Interest is payable whether or not the business has a good year.
Growth barely outpaces inflation
Revenue compounding at 2.3% a year is close to the rate prices rise, so the business is gaining little ground in real terms. That leaves the share price dependent on a re-rating rather than on earnings growth.
Returns on shareholder capital are falling
ROE has dropped from 13.1% to 8.1%. Each rupee of equity earns less than it did, so profit growth increasingly depends on raising more capital rather than on the existing base working harder.
Size brings its own risk
Small Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1EBITDA margin holds above 9%✓ 11.3%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Revenue growth stays above 4% a year✗ 2.3% CAGR
Latest reported year was 33.6%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
3Free cash flow remains positive✓ ₹122 Cr
Profit that never becomes cash eventually stops being profit.
4Debt / EBITDA stays below 2x✓ 0.5x
The ratio lenders write covenants against; it survives a small or negative equity base, unlike Debt/Equity.
5ROCE stays above 8%✓ 10.8%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

Investment Checklist

7 / 12 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✓ Generates positive free cash flow
✗ Manageable leverage (Debt/Equity < 1.0)
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✓ Revenue growing year-over-year
✓ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✓ Analyst consensus isn't majority-sell
✗ Short-term technical trend isn't bearish

Price history

Quick Metrics

4 good · 6 neutral · 1 weak

Market Cap

₹7,231 Cr

Small Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

37.9x

Fair

Fairly valued against the generic band

P/B Ratio

3.65x

Fair

Moderate premium to the company's book value

EPS (TTM)

₹13.92

Profitable

Profitable on a per-share basis

ROE

8.1%

Moderate

Moderate capital efficiency

ROCE

10.8%

Moderate

Moderate return on the capital in the business

Debt/Equity

8.80x

High

High leverage

Revenue Growth (YoY)

33.6%

Healthy

Healthy top-line growth

Profit Growth (YoY)

123.2%

Healthy

Profits growing at a healthy clip

Dividend Yield

1.42%

Modest

Small cash return — most of the return has to come from the price

Free Cash Flow

₹122 Cr

Cash generative

Generates cash even after funding its capex

More Metrics

P/E (Forward)

25.5x

Improving

Below the trailing multiple — the street expects earnings to grow into the price

Operating Margin

7.4%

Average

Average margins

Net Margin

6.1%

Average

Average bottom-line conversion

Current Ratio

3.50

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.24

Defensive

Steadier than the market

52W Range Position

30%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

519.5 / 556.2

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

50.4

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹2,755 Cr	₹2,658 Cr	₹2,693 Cr	₹2,950 Cr	+2.3%
EBITDA	₹399 Cr	₹367 Cr	₹248 Cr	₹334 Cr	-5.8%
EBITDA Margin	14.5%	13.8%	9.2%	11.3%	—
PAT (Net Profit)	₹254 Cr	₹228 Cr	₹112 Cr	₹161 Cr	-14.2%
EPS	₹18.34	₹16.48	₹8.16	₹11.72	-13.9%
ROE	13.1%	10.9%	6.0%	8.1%	—
ROCE	16.8%	14.1%	9.2%	10.8%	—
Total Debt	₹131 Cr	₹180 Cr	₹180 Cr	₹174 Cr	+9.9%
Free Cash Flow	₹131 Cr	₹221 Cr	₹115 Cr	₹122 Cr	-2.5%

🟢 Revenue has grown at 2.3% a year over 3 years.

🔴 EBITDA has shrunk at 5.8% a year over 3 years.

🔴 EBITDA Margin has fallen from 14.5% to 11.3% over 3 years (-3.2 pts).

🔴 PAT (Net Profit) has shrunk at 14.2% a year over 3 years.

🔴 EPS has shrunk at 13.9% a year over 3 years.

🔴 ROE has fallen from 13.1% to 8.1% over 3 years (-5.0 pts).

🔴 ROCE has fallen from 16.8% to 10.8% over 3 years (-5.9 pts).

🔴 Total Debt has grown at 9.9% a year over 3 years.

🔴 Free Cash Flow has shrunk at 2.5% a year over 3 years.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹2,725 Cr

Total Liabilities

₹753 Cr

Cash & Equivalents

₹36 Cr

Operating Cash Flow

₹210 Cr

Capex

-₹88 Cr

Shareholding (proxy)

Institutional Holding

19.7%

Insider Holding

70.9%

Corporate Actions

Dividend Rate

₹7.5

Ex-Dividend Date

29 Jul 2026

Analyst Consensus

Recommendations

4 Buy · 3 Hold · 2 Sell

Target Price (Mean)

₹702.38

+33.0% vs CMP

Target Range

₹566 – ₹866

Peer Comparison

Company	P/E	ROE
HAVELLS INDIA LIMITED	43.5x	17.1%
VOLTAS LTD	75.8x	7.0%
TITAN COMPANY LIMITED	68.5x	36.7%

Recent News

3 positive2 mixed1 general

TTK Prestige Limited (TTKPRESTIG.NS) Stock Price, News, Quote & History

Yahoo! Finance Canada, 01 Oct

TTK Prestige Share Price Jumps 15% For Second Day Amid LPG Shortage Boosting Induction Cooktop Demand | Stock Market Today

Samco, 12 MarPrice move

🟡Mixed / dependsA price move, which is not by itself a change in the business. Worth finding the cause before reading it as either good or bad.

TTK Prestige Q1FY27 net profit surges 89% on cost control

scanx.trade, 28 JulResults

🟢Potentially positiveReported improvement. Check whether it came from volume, price or a one-off item before treating it as a trend.

Earnings Miss: TTK Prestige Limited Missed EPS By 8.3% And Analysts Are Revising Their Forecasts

Simply Wall Street, 26 MayAnalyst view

🟡Mixed / dependsBroker commentary — an opinion about the price rather than new information about the business.

TTK Prestige announces ₹7.5/share dividend issue; induction stove maker posts ₹36 crore Q4 PAT

Upstox, 22 MayCapital return

🟢Potentially positiveCash or shares returned to holders. A buyback is only good value if the shares were cheap when bought.

TTK Prestige Q4 Results: Kitchen Appliances Major Swings To Profit; Dividend Declared

NDTV Profit, 22 MayCapital return

🟢Potentially positiveCash or shares returned to holders. A buyback is only good value if the shares were cheap when bought.

Watch Items

Cross-check against the company's latest quarterly filing / investor presentation before acting.

DalalBaazaar Thesis

StrongFinancial Health

MiddlingValuation · Risk

WeakBusiness Quality · Growth · Profitability

Points for each in the Score ↑

Weak on the fundamentals

Poor scores on business quality without a price low enough to compensate. There is no obvious argument for owning this over a stronger company at a similar valuation. 1 high-severity red flag sits above this conclusion and should be read first.

1 of 5 tripwires tripped — Revenue growth stays above 4% a year · see Key things to watch ↑