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X

TTK Prestige Ltd.

Mid Cap

Evaluated by 1591 users |

BSE

: 517506 |

NSE

: TTKPRESTIG |

Consumer Durables - Domestic Appliances

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Standalone basis
The valuation guidance of this company is based on Standalone basis.
1. Right Stock
This company is among the most fundamentally sound companies on account of its consistent performance on both the colour-coding parameters - Value Creation & Business Growth.
2. Right Price
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Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
10 Year X-Ray
MoneyWorks4me Colour Coding
Value Creation To be investment worthy, a company has to create a shareholder value in excess of its cost of capital employed. VCI (Value Creation Index) shows how efficient has the company been in doing this.
Value Creation Index: Colour Rating Guide
  • >0.25 : Very Good
  • 0 to 0.25 : Somewhat Good
  • <0: Not Good
 Mar'04Mar'05Mar'06Mar'07Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13
Return on Capital Employed
The return on capital employed gives a sense of how well a company is using its money to generate returns.
5.37%7.97%11.45%14.65%19.67%24.83%45.01%54.44%42.98%33.46%
Value Creation Index
The difference between ROCE and WACC as a Proportion of WACC reveals the extent of value created by a company.
Ie. (ROCE-WACC)/WACC
ROCE is Return on Capital Employed
WACC is Weighted Average Cost of Capital
-0.33-0.09-0.34-0.110.251.201.711.881.13NA
Growth Parameters Growth Parameters help gauge a company's growth in the past 10 years. A value creating company needs to grow at a sustainable pace to continue creating value.
For Net Sales and EPS Growth Rate
  • >12% : Very Good
  • 8% to 12% : Somewhat Good
  • <8% : Not Good
For Debt To CFO
  • 0 to <1.5 : Very Good
  • 1.5 to <3 : Somewhat Good
  • >3 or <0: Not Good
Net Sales (Rs. Cr.)
Net Sales is calculated by deducting excise duty, sales tax and other such deductible indirect taxes from the gross sales of a company.
1391812222813264015087641,1031,358
Y-o-Y Gr. Rt.-30.7%22.6%26.6%16%23.1%26.6%50.3%44.5%23.1%
Adjusted EPS (Rs.)
Adjusted Earning per Share is the company’s net profit per share after adjusting for extra-ordinary/exceptional items
-0.373.496.6710.1115.5119.7444.0474.3899.27116.67
Y-o-Y Gr. Rt.-NA91.1%51.6%53.4%27.3%123.1%68.9%33.5%17.5%
Book Value per Share (Rs.)
The total value that a company will fetch upon liquidation (if it is closed down), after settling all obligations is called its Book Value. Book value of a company includes only tangible assets. Book value allocated to each outstanding share is called Book Value per share
3435.238.7445.7158.8872.87107.79167.23250.07346.79
Adjusted Net Profit Adjusted Net Profit is a measure of company's profitability after accounting for all costs and adjusting for one time events. -0.447.611.517.622.449.984.2112132
Net Op. Cash Flow (Rs. Cr.)
This refers to the amount of cash a company generates from the revenues less operating expenses.
12.814.621.5446.342.861.774.361.997.3
Debt to Cash Flow from Ops
Debt to CFO (Cash Flow from Operations) conveys the number of years it will take for a company to repay its debt, given the cash generated from operations.
CFO: It is the amount of cash generated by the company through its core business operations without looking at the impact of its capital structure. It indicates whether the company is able to generate sufficient cash from its operations to maintain and run its operations.
5.964.452.6618.541.010.480.050.031.281.18
CAGR
The Growth rate helps you understand how the company has performed over different time frames.
CAGR Colour Code Guide
CAGR Colour Code Guide
  • >12% : Very Good
  • 8% to 12% : Somewhat Good
  • <8% : Not Good
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales
Net Sales is calculated by deducting excise duty, sales tax and other such deductible indirect taxes from the gross sales of a company.
28.9%33%38.8%23.1%
Adjusted EPS
Adjusted Earning per Share is the Company’s net profit per share after adjusting for extra-ordinary/exceptional items.
NA49.7%38.4%17.5%
Book Value per Share
The total value that a company will fetch upon liquidation (if it is closed down), after settling all obligations is called its Book Value. Book value of a company includes only tangible assets. Book value allocated to each outstanding share is called Book Value per share
29.442.647.638.7
Key Financial Parameter The key financial ratios show the growth and sustainability of the Value Creation Index.
Performance Ratios: Colour Rating Guide
  • >12% : Very Good
  • 8% to 12% : Somewhat Good
  • <8% : Not Good
Debt to Equity Colour Rating Guide
  • 0 to 1 : Very Good
  • >1 to 2 : Somewhat Good
  • >2 or <0: Not Good
Return on Equity (%)
Return on Equity shows the amount of net profit generated as a percentage of shareholders equity. 
ROE measures a company's profitability over the money shareholders have invested. 
-0.959.2216.6522.3628.3629.1147.7453.3547.1438.87
Operating Profit Margin (%)
Operating Profit Margin shows how much profit a company makes (before interest payment and taxes) on sales. It is advisable to look at the change in a company’s operating margin over time and compare the company's yearly or quarterly numbers to those of its competitors.
4.375.839.239.329.829.7915.2316.4315.9615.43
Net Profit Margin (%)
NPM (Net Profit Margin) is the ratio of profit, net of taxes and interests to sales. It is advisable to look at changes in a company’s NPM over time and to compare them with the competitor’s NPM.
-0.32.193.414.085.395.579.8111.0310.189.74
Debt to Equity
This ratio indicates the ratio of equity to debt the company employs to finance its operating assets.
1.981.631.31.420.70.250.020.010.280.29
Working Capital Days
This is the number of days that a company will take to convert its working capital into revenue.
24118414814113910810110296101
Cash Conversion Cycle
Cash Conversion Cycle is a company's net working capital (creditors, debtors and inventory) expressed in terms of days
18614611083654749535868
What do we look at?
Management Assessment: An assessment of the trustworthiness of the management based
on 5 important parameters. These parameters are colour coded as Green (Very Good),
Orange (Somewhat Good) and Red (Not Good)
Percentage Holding
70.37%
22.95%
6.68%

Pledged *0.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.00
*  Pledged shares as % of Promoter's holding (%)

The 10 YEAR X-RAY of TTK prestige has been considered on a standalone basis.

TTK Prestige has shown consistent positive value creation over last 6 year period. ROE and ROCE figures have been very good with 6 year average figures of ~41.5% and ~37.2% respectively. The value creation index, as seen by the spread, between Return on Invested Capital and Weighted average cost of capital i.e. (ROCE – WACC) has ... Read more

The 10 YEAR X-RAY of TTK prestige has been considered on a standalone basis.

TTK Prestige has shown consistent positive value creation over last 6 year period. ROE and ROCE figures have been very good with 6 year average figures of ~41.5% and ~37.2% respectively. The value creation index, as seen by the spread, between Return on Invested Capital and Weighted average cost of capital i.e. (ROCE – WACC) has been positive for all past 6 years.

TTK Prestige Ltd. has shown impressive growth over the last 10 years. The net sales, EPS and BVPS grew by a 5 year CAGR of 33%, 49.7% and 42.5% respectively. The company has achieved majority of its sales from products introduced in the last 3 years implying new products are continuously added to the portfolio leading to high revenues and, thus, aiding the company in gaining market share. Both operating and net profit margins have shown a consistent improvement over the years, however they declined marginally in FY12 and FY13 on account of rise in raw material prices, power shortage and delayed monsoon leading to falling demand in south India specially Kerala & Tamil Nadu in 2013.

The company initiated an capex plan in FY2010 for capacity building, primarily in cookware and appliances, with the overall capex plan pegged at ~INR 325 Cr, out of which INR 275 Cr has been incurred till FY13, with the balance to be incurred in FY14. The capex investment has increased the pressure cooker capacity from 4.8 million to 8 million, non-stick cookware from 2 million to 12 million. The Vadodara plant is expected to commence production in FY13-14, which is expected to increase current 1 million capacity of induction cook-tops. The company resorted to debt and internal accruals to fund the capex plan, which resulted in relatively increased debt accumulation on its books, however the capex is expected to reduce company’s dependence on imports for raw material. Debt to Net profit in FY13 stood at 0.87 with Rs 114.5 Cr on its books. In June 2013, the company diluted its stake by selling 5.6% stake in the company for around Rs 230 cr, which is reported to be used for debt reduction.

The company reported stable operating cash flows, till FY10; however, since 2011, due to increase in net working capital cycle, operating cash flows have declined though remained positive.

Thus, the company’s sales and earnings have shown impressive growth over the last 10 years, wherein the growth is driven predominantly by volume expansion and introduction of new models and products leading to improved market penetration. Considering all these factors, the 10 year X-ray of the company seems Green (Very Good).

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