CRISIL Research maintains fundamental grading of 5/5 on TTK Prestige

Credit rating agency, CRISIL Research has maintained fundamental grading of 5/5 on TTK Prestige as robust sales traction in non-south India markets continue to offset the slowdown in the key south markets - Tamil Nadu (TN) and Kerala. Meanwhile, the rating agency has lowered the company’s valuation grade to 3/5.

The company, recently reported 15.94% fall in its net profit at Rs 25.79 crore for the quarter as compared to Rs 30.68 crore for the same quarter in the previous year. However, total income from operation of the company increased marginally by 1.26% at Rs 306.33 crore for quarter under review as compared to Rs 302.53 crore for the quarter ended June 30, 2012.

TTK Prestige, one of the oldest business houses in the country today. Having initially pioneered and established a network of distribution, TTK Prestige moved to manufacturing, post-independence. Being a dynamic and fast growing company, it soon became the leading manufacturer of Pressure cookers in India and offered the most comprehensive range of kitchenware in the world.