TTK Prestige - Stock Split ex date on 14th December 2021
TTK Prestige Limited has fixed a record date of December 15, 2021 for purpose of sub-division/stock split of Rs.10/-per Equity Share of the Company into Equity Share of Rs.1/- each.
On the ex-date (14th Dec, 2021), the share price would be reduced to one tenth of the stock’s market price.
Our Perspective :
The stock split would improve the liquidity for the company’s share and could enable entry of new investors and enhance the public customer base. TTK Prestige is India’s leading player in kitchen solutions and has succeeded in transforming itself from a company manufacturing pressure cookers to having an entire gamut of home and kitchen appliances. It continues to be a market leader in the cooker segment and has material share in other appliance and cookware categories. The company, over the years, has maintained its balance sheet strength with strong cash reserves (~| 500+ crore) and healthy RoIC of 30%+. In order to cater to strong domestic and export demand, TTK has added annual capacity of 4 mn pieces non-stick cookware in the Gujarat factory. TTK is further looking to enhance its distribution reach in tier-II/III cites to capture long term growth opportunities. The company has a healthy pipeline of ~53 SKUs to be launched in Q3FY22, which would propel growth, going forward. TTK Prestige has maintained its guidance of achieving | 5000 crore by FY25 through organic and inorganic route.