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TTK Prestige to mull amalgamating PHIL with itself

08 Aug 2011 Evaluate

TTK Prestige’s board of directors would mull the proposal of amalgamating Prestige Housewares India (PHIL), a TTK Group Company with itself. For the sake of operational and administrative convenience and to consolidate all the manufacturing assets in TTK Prestige, the proposal of amalgamation will be considered by the company’s board of directors in their forthcoming meeting on August 18, 2011.

PHIL is an unlisted company and forms part of the TTK Group. PHIL is in the business of Kitchenware and has certain landed property and manufacturing assets. While, TTK Prestige is one of the oldest business houses in the country today and the leading manufacturer of Pressure cookers in India. It offers the most comprehensive range of kitchenware in the world.

The company’s net profit after tax for the quarter ended June 30, 2011 surged by 58.08% at Rs 25.34 crore as compared to Rs 16.03 crore for the quarter ended June 30, 2010. Its total income has increased by 60.39% to Rs 233.14 crore for the quarter under review from Rs 145.35 crore for the similar quarter of the previous year.

TTK Prestige Share Price

519.80 13.65 (2.70%)
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