TTK Prestige Limited has informed the Exchange about Investor Presentation
January 28, 2025
National Stock Exchange “Exchange Plaza”, C-1, Block G, Bandra- Kurla Complex, Bandra (E), Mumbai – 400 051.
BSE Limited 27th Floor, Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400 001.
Scrip Symbol : TTKPRESTIG
Scrip Code : 517506
Dear Sir,
Sub: Data to be shared with Analysts for the third quarter and nine months ended December 31, 2024
We are enclosing herewith a copy of information to be shared with Analysts. The said information will be published on our website also.
Please take this information on record.
Thanking you,
Yours faithfully, For TTK Prestige Limited,
Manjula K V Company Secretary & Compliance Officer
TTK PRESTIGE LIMITED
Gist of Information to be shared with Analysts
Quarter Ended 31st December 2024
Financial Results for Quarter ended 31st December 2024
GENERAL BACKDROP FOR Q3 OF FY 2024-25
A. GENERAL ECONOMY The global economy continues to see steady growth, as inflation has moderated, private consumption has been sustained, and monetary policy has started to ease in key markets. However, the short and medium term growth prospects are challenged by rising geopolitical risks and growing policy uncertainty.
A month after the US elections, potential changes to trade relationships and other policies
are the major focus. Expectations are for the global economy to remain largely stable.
India’s growth is expected to hit a four year low of 6.4% in this fiscal year FY25 a sharp decline from the 8.2% growth recorded in FY24. The is on the back of a slowdown in all segments of industry and services.
Despite facing high inflation and global uncertainties, the Indian economy driven by financial stability and strategic policy initiatives, continues to advance toward surpassing major global economies. The progress is marked by healthy FDI inflows, an expanding export sector, and notable advancements in infrastructure and financial regulation.
2
Financial Results for Quarter ended 31st December 2024
GENERAL BACKDROP FOR Q3 OF FY 2024-25
A. GENERAL ECONOMY (Continued …)
Inflation has impacted urban demand. With no signs of food inflation relenting in the immediate future, urban markets continue to see demand pressures in this quarter. This led to lower discretionary spends impacting the demand for consumer durable products.
While urban demand remained stagnant, the rural demand which is not dependent on MFIs
has been recovering due to good monsoon and government spending.
Amid weaking urban demand GST kitty has been on rise during this quarter due to festive
season sale.
Hospitality and travel continued to do better impacting the share of wallet for other consumer
products.
Amid geo-political conflicts the freight rates and availability of containers continued to be
challenge for exports.
3
Financial Results for Quarter ended 31st December 2024
GENERAL BACKDROP FOR Q3 OF FY 2024-25
B. SPECIFIC TO COMPANY
Prestige exclusives and e-commerce did relatively well during this quarter amid festive season,
but the general trade and modern format were muted on growth.
The issues faced by Micro Financial Institutions as well as food-price inflation affected the sales to the Rural markets which was a significant contributor last year. Institutional sales remained a challenge during this quarter due to budget pressures on cost associated with them.
The Aluminium prices continued with its increase during the quarter due to worldwide
shortage. It is expected to be at around this increased level for rest of the year.
Export orders are robust, but some shipments were deferred to Q4 due to non-availability of
containers on time.
4
Financial Results for Quarter ended 31st December 2024
KEY PERFORMANCE HIGHLIGHTS FOR 3rd QUARTER ENDED 31st DECEMBER 2024 (AS COMPARED TO Q3 OF PREVIOUS YEAR) Domestic Sales is at Rs. 651.3 Crores (PY Rs. 667.8 Crores) Export Sales for the quarter is at Rs. 15.4 Crores (PY Rs. 18.8 Crores) Total Sales is at Rs. 666.7 Crores against Rs. 686.6 Crores of last year EBITDA is at Rs. 90.1 Crores as compared to PY Rs. 103.0 Crores. EBITDA margin is at 13.5% (PY 15.0%) Operating EBITDA margin before incurrence of soft operational expenses for long term growth
is at 11.9% (PY 12.6%)
Profit before Tax was at Rs. 71.8 Crores (PY Rs. 84.9 Crores) Profit after Tax is at Rs. 54.3 Crores (PY Rs. 63.0 Crores) EPS is at Rs. 3.96 per equity share of face value Rs. 1/- each (PY Rs. 4.55) Consolidated turnover is at Rs. 727.2 Crores (PY Rs. 738.4 Crores) Consolidated Profit before Tax stood at Rs. 75.2 Crores (PY Rs. 82.9 Crores) Consolidated Profit after Tax is at Rs. 57.3 Crores (PY Rs.61.6 Crores) Consolidated EPS is at Rs. 4.27 per equity share of face value Rs. 1/- each (PY Rs. 4.51)
5
Financial Results for Quarter ended 31st December 2024
KEY PERFORMANCE HIGHLIGHTS OF 9 MONTHS ENDED 31st DECEMBER 2024 (AS COMPARED TO 9 MONTHS OF PREVIOUS YEAR) Domestic Sales is at Rs. 1880.3 Crores (PY Rs. 1863.5 Crores) registering a growth of 0.9% Export Sales is at Rs. 46.2 Crores (PY Rs. 56.8 Crores) Total Sales at Rs. 1926.5 Crores against Rs. 1920.3 Crores of last year; growth of 0.3% EBITDA is at Rs. 266.5 Crores as compared to PY Rs. 286.0 Crores. EBITDA margin is at around 13.8% (PY 14.9%) Operating EBITDA margin before incurrence of soft operational expenses for long term growth
is at 11.8% (PY 12.4%)
Profit before Tax is at Rs. 211.5 Crores (PY Rs.236.5 Crores) Profit after Tax is at Rs. 158.7 Crores (PY Rs.175.7 Crores) EPS is at Rs. 11.51 per equity share of face value Rs. 1/- each (PY Rs. 12.67) Consolidated turnover is at Rs. 2065.2 Crores (PY Rs.2055.5 Crores); growth of 0.5% Consolidated Profit before Tax stood at Rs. 200.6 Crores (PY Rs. 226.7 Crores) Consolidated Profit after Tax is at Rs. 150.4 Crores (PY Rs. 167.9 Crores) Consolidated EPS is at Rs. 11.10 per equity share of face value Rs. 1/- each (PY Rs. 12.25)
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Financial Results for Quarter ended 31st December 2024
KEY BUSINESS FACTS FOR Q3 AND 9 MONTHS OF FY 2024-25
The demand during most part of the quarter was sluggish post festive sales in October. The trade channel continues to feel the pressures from e-commerce and modern format stores during this festive season.
The alternate channels viz. Rural Channel dependant on MFI and institutional channel, which had significant share of sales for the Company, was badly affected in the last few quarters due its own challenges. Sales lost on account of this during this quarter is around Rs 32 Crores and for 9 months is around Rs 93 Crores
The traditional channel which includes general trade, exclusive stores, e-commerce, and modern trade grew by 3% during the quarter, but the alternate channel pulled down the overall growth for the quarter. For the 9 months period ending 31st Dec 2024, the traditional channel growth was around 7%.
The Company has been steadily consolidating and improving its market share in the active
channels.
During the quarter the Company resorted to marginal price increase for some of its key
products to offset the commodity cost escalation and maintained its margins.
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Financial Results for Quarter ended 31st December 2024
KEY BUSINESS FACTS FOR Q3 AND 9 MONTHS OF FY 2024-25 (Continued………) The Other Expense for the quarter includes Rs 4.4 Crores (PY Q3: Rs Nil) and Rs 13.5 Crores for the 9 months period (PY 9 Months: Rs Nil) being soft operational expenses incurred by the Company for long-term growth strategy and plan. But for this one-time investment for growth, the EBITDA and Operating EBITDA would have been around the last year level.
The repositioning of Judge brand to reach the mass market has started materialising with It is expected to maintain in the
good double-digit growth during this quarter as well. coming quarters.
Trade collections are robust meeting the trade norms of the company amid tight market
conditions.
Introduced 53 new SKUs during this quarter across all categories. New launches are being
received well in the market.
Prestige Xclusive chain strength stood at 665 contributing significantly to total sales. The company carried substantial free cash of around Rs 810 Crores as at the end of the quarter post capex, buyback of shares (totalling to Rs 249 Crores including tax and expenses) and after deploying sufficient amounts in working capital for a cost-effective supply chain.
8
Financial Results for Quarter ended 31st December 2024
SALES BREAKUP – STANDALONE- FOR 3rd QUARTER
Q3 2024-25
Q3 2023-24
GROWTH
(In Rs. Crores)
Q3 2022-23
Q3 2021-22
COOKERS COOKWARE APPLIANCES OTHERS
192.2 107.5 333.7 33.3
209.8 107.3 339.4 30.1
-8.4% 0.2% -1.7% 10.5%
202.8 98.1 324.7 26.5
225.6 114.1 349.1 30.3
TOTAL
666.7
686.6
-2.9%
652.1
719.1
PROPORTION TO SALES
Q3 2024-25
Q3 2023-24
Q3 2022-23
Q3 2021-22
COOKERS COOKWARE APPLIANCES OTHERS TOTAL
28.8% 16.1% 50.1% 5.0% 100.0%
30.6% 15.6% 49.4% 4.4% 100.0%
31.1% 15.0% 49.8% 4.1% 100.0%
31.4% 15.9% 48.6% 4.2% 100.0%
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Financial Results for Quarter ended 31st December 2024
SALES BREAKUP – STANDALONE- FOR 9 MONTHS
9 Months' 9 Months' 2023-24 2024-25
GROWTH
9 Months' 9 Months' 2021-22 2022-23
(In Rs. Crores)
COOKERS COOKWARE APPLIANCES OTHERS
592.3 328.9 909.5 95.8
608.0 312.1 909.0 91.2
-2.6% 5.4% 0.1% 5.0%
646.3 334.4 996.4 82.6
567.2 321.4 924.7 71.3
TOTAL
1926.5
1920.3
0.3%
2059.7
1884.6
PROPORTION TO SALES
9 Months 2024-25
9 Months 2023-24
9 Months 2022-23
9 Months 2021-22
COOKERS COOKWARE APPLIANCES OTHERS TOTAL
30.7% 17.1% 47.2% 5.0% 100.0%
31.7% 16.3% 47.3% 4.7% 100.0%
31.4% 16.2% 48.4% 4.0% 100.0%
30.1% 17.1% 49.1% 3.8% 100.0%
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Q3 Top line over 5 years (Standalone)
24.4%
679.4
719.1
5.8%
2020-21
2021-22
686.6
5.3%
666.8
-2.9%
2023-24
2024-25
652.1
-9.3%
2022-23
Net Sales (Rs Crores)
Sales Growth %
11
Q3 EBITDA over 5 years (Standalone)
18.6%
18.2%
13.9%
15.0%
13.5%
126.6
131.0
90.6
103.0
90.1
2020-21
2021-22
2022-23
2023-24
2024-25
EBITDA (Rs Crores)
EBITDA %
12
9 Months Top line over 5 years (Standalone)
27.5%
1884.6
2059.7
9.3%
1920.3
1926.5
0.3%
-6.8%
2021-22
2022-23
2023-24
2024-25
Net Sales (Rs Crores)
Sales Growth %
13
1478.2
-4.8%
2020-21
9 Months EBITDA over 5 years (Standalone)
17.1%
15.9%
14.9%
14.9%
234.3
2020-21
322.1
2021-22
307.3
2022-23
286.0
2023-24
EBITDA (Rs Crores)
EBITDA %
13.8%
266.5
2024-25
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Financial Results for Quarter ended 31st December 2024
UK SUBSIDIARY – HORWOOD HOMEWARES LTD Horwood achieved a sale of £ 4.8 million during Q3 FY25 (PY £ 4.3 million); growth of 10.9% and £
10.7 million for 9 Months FY25 (PY £10.9 million).
Horwood’s Operating EBITDA for Q3 was at £ 0.7 million [PY £ 0.01 million] and the same for 9 Months was at £ 0.2 million [PY £ 0.05 million]. The profitability improved significantly during this quarter based on various cost reduction initiatives undertaken by Harwood this year
The UK Budget in October as expected, focussed on higher taxes for retailers, small business and
working people.
Whilst this was expected, the depth of long-term tax raises led to uncertainty and anxiety during this quarter a critical time for the retail and hospitality trade. As a result, the retail sales were sluggish this quarter.
Measures in the 2024 Autumn Budget to boost public sector investment could provide an upside
for long-term growth prospects.
Overall GDP growth is expected to rise to 1.7% in 2025, up from 0.8% for 2024, largely driven by
household consumption and government spending.
As interest rates gradually fall, households could start to spend some of the large savings buffers they’ve built up. Relatively low unemployment and robust – if slowing – pay growth, will also boost consumer spending in the coming quarters.
15
Financial Results for Quarter ended 31st December 2024
INDIAN SUBSIDIARY – ULTRAFRESH MODULAR SOLUTIONS LIMITED
Ultrafresh achieved a sale of Rs. 9.0 Crores during Q3 FY 25 (PY Q3: Rs. 7.2 Crores) and Rs. 24.2
Crores for 9 Months FY25 (PY: Rs. 23.3 Crores)
Ultrafresh’s EBITDA for Q3 FY25 was at Rs. (2.19) Crores [PY Rs. (1.78) Crores] and the same for 9
months in FY25 is at Rs (5.19) Crores [PY Rs (3.13) Crores].
Delays in project readiness for installation in some of the project orders led to deferment of some
amount of sales in this quarter which are expected to be executed in the Q4 FY25.
The EBITDA is lower than last year primarily due to reduced leverage driven by lower sales growth
during the period.
Being a 51% Subsidiary Company their financials are consolidated appropriately in the
Consolidated Financial Statements.
Ultrafresh added 5 studios during the year Q3 FY25 totalling 160 studios as of 31st Dec 2024 after
attritions.
Ultrafresh is continuing its efforts on optimisation of costs to improve its EBITDA margin in the
coming quarters.
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Financial Results for Quarter ended 31st December 2024
GOING FORWARD India is set to lead the global economic landscape as the fastest growing large economy. World Bank has projected India’s economy to grow by 6.7% for the next two fiscal years outpacing the global and regional peers. This has been reconfirmed by IMF as well in its World Economic Outlook. This consistent growth outlook reflects India’s stable economic fundamentals and its ability to maintain momentum despite global uncertainties.
With the Government spending picking up, the growth momentum is expected to improve entering 2025 and consumer sentiment stays resilient. Consumption growth should find further support if inflation cools down in 2025.
On the back of the good monsoons the rural demand is expected to pick-up in the coming months. All the above are expected to positively impact the customer sentiment leading to customer
demand.
The Company will continue to focus more on innovative products to capitalise on this opportunity.
The company has slated for launch around 69 new SKUs during Q4 of FY 25.
Geopolitical uncertainties and disruptions in global supply chains, particularly in the Red Sea region, continued to weigh on exports. However, the Company is expecting the export demand to improve in the coming months.
17
Financial Results for Quarter ended 31st December 2024
SAFE HARBOUR THIS PRESENTATION MAY CONTAIN CERTAIN STATEMENTS WHICH ARE FUTURISTIC IN NATURE. SUCH STATEMENTS REPRESENT THE INTENTIONS OF THE MANAGEMENT AND THE EFFORTS BEING PUT IN BY THEM TO REALIZE CERTAIN GOALS. THE SUCCESS IN REALIZING THESE GOALS DEPENDS ON VARIOUS THEREFORE, THE INVESTORS ARE REQUESTED TO MAKE THEIR OWN INDEPENDENT JUDGMENTS BY CONSIDERING ALL RELEVANT FACTORS BEFORE TAKING ANY INVESTMENT DECISION.
EXTERNAL.
INTERNAL
FACTORS
BOTH
AND
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PRODUCT LAUNCHES Q3 FY25
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New Launches – Q3 | Kitchenware
SS Popular 5+3 combo
Tri-Ply OL 5+3 combo
SS Nakshatra Essential 5+3+2 combo
SS Nakshatra Essential 5+3 combo
Tri-Ply IL 5+3+2 combo
New Launches – Q3 | Kitchenware
Augusta Blueberry BYK
Augusta Cherry BYK
Ceraglide BYK
Durastone BYK
Tri-Ply BYK
New Launches – Q3 | Kitchenware
Dura Cast Iron
Tri-Ply Splendid
Die Cast Grill pan
Rustic copper bottle
Magic Base
New Launches – Q3 | Judge Kitchenware
Milk cooker 1.5 L
Judge Tumbler
Judge Bowl
Sparkle & Relish cutlery
Ace/Pride twin pack
New Launches – Q3 | Appliances
Cookcenter
Cute Rice Cooker 1.8 -2 SS
Cute Rice Cooker 2.8 -2 SS
Apex – 500W
Magix – 550W
Zestar – 500W
New Launches – Q3 | Appliances
Yogurt Maker
Glass Kettle
Egg Boiler
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