Target: ₹749
CMP: ₹591.45
TTK Prestige’s consolidated revenue increased 33.6 per cent to ₹814 crore in Q1FY27, led by a strong domestic recovery. Domestic sales grew 35.6 per cent, supported by robust demand across induction cook-tops and other kitchen appliance categories. Meanwhile, export revenue declined 17.9 per cent to ₹12.8 crore due to shipping and logistics disruptions. The repositioned ‘Judge’ brand continued to gain traction, with revenue rising 89.9 per cent to ₹34.6 crore.
Demand outlook remains robust, driven by premiumisation, replacement-driven purchases and improving discretionary spending, aided by GST cuts and lower interest rates. The upcoming festive season is expected to boost channel inventory across categories, although growth is likely to normalise over time. TTK’s ongoing ₹200-crore investment programme to improve operational efficiency and strengthen long-term growth may weigh on near-term profitability. Commodity inflation is likely to be offset through efficient sourcing, timely pricing and premiumisation.
Backed by healthy cash generation, TTK is well-positioned to self-fund investments across capacity, distribution, talent and product development, while targeting about 1,000 Xclusive stores and leveraging the Judge brand to deepen its mass-market presence. We roll forward to FY28 EPS, value TTK at 33x to arrive at a target price of ₹749, and maintain a Buy rating.
Published on August 20, 2026
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