Financial Daily from THE HINDU group of publications
Tuesday, Jun 21, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jun 21, 2005 |
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Corporate Results
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Home Appliances TTK Prestige annual net up at Rs 3.81 cr Our Bureau
Mr T.T.Jagannathan (left), Chairman, TTK Prestige Ltd, with Mr S. Ravichandran, Managing Director, at a press conference in Mumbai on Monday. — Paul Noronha
Mumbai , June 20 KITCHEN appliances major, TTK Prestige Ltd today reported a jump in its profit after tax at Rs 3.81 crore for the year ended March 2005 compared with Rs 21 lakh in the earlier year. Sales for the year 2004-05 stood at Rs 189.37 crore, up from previous year's sales of Rs 146.11 crore. The return on capital employed (ROCE) is 14.66 per cent for 2004-05 against 5.23 per cent in 2003-04, Mr S. Ravichandran , Managing Director, TTK Prestige Ltd, told newspersons here on Monday. On the growth plans of the company, Mr Ravichandran said that the company was seeking to make major headway in US, West Asia and Africa markets. The company has a presence in US markets with its Manttra brand of pressures cookers and now also wants to sell its Prestige brands of pressures cookers, especially targeting the NRI community. The company has obtained a licence for this purpose. About expansion plans in India, Mr Ravichandran said, "Today we are south India-centric company, but we want to expand to a national brand. From a Kitchenware company we want be known as Kitchen solutions company." In order to make its footprint visible nationally the company is planning open its exclusive branded stores `Prestige Brand Kitchen' in 46 locations across the country by 2006. Currently the company has 54 stores located in South India. It is also planning forays into the modular kitchen market, which will cater to affluent class consumers. Mr T.T. Jagannathan, Chairman of the TTK Group, said that all the expansion plans of the company would be funded from internal resources. Rs 25 crore would be needed for expansion of the brand in India, he added.
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