TTK Prestige: A Strong Q2 FY26 Driven by Domestic Demand and Strategic Shifts

TTK Prestige Limited, a prominent player in India's kitchenware and home appliances sector, has reported a robust performance for the second quarter of Fiscal Year 2025-26. The company's standalone revenue grew by a healthy 11% year-on-year to ₹786.6 crore, while operating EBITDA saw an impressive 30.7% increase to ₹100.5 crore. Profit after Tax (PAT) also rose significantly by 21.7% to ₹70.1 crore. This strong showing reflects a positive domestic economic environment and the successful implementation of strategic initiatives.

The company's growth was broad-based across its product segments. Appliances led the charge, contributing 47.9% to the total standalone revenue with sales of ₹376.8 crore. Cookers accounted for 30.6% of revenue at ₹240.5 crore, and cookware contributed 17.6% with ₹138.3 crore in sales. The management highlighted that this growth was primarily volume-driven, with approximately 70% of the impact coming from increased sales volumes rather than price hikes. The repositioned 'Judge' brand continued its strong trajectory, registering over 50% growth in both Q2 and the first half of the year, underscoring the success of the company's brand strategies.

TTK Prestige's strategic focus on e-commerce, quick-commerce, and large-format stores has yielded positive results, with these channels driving aggressive growth. Even general trade, which had been flattish, showed a modest recovery. The company is also aggressively expanding its exclusive retail stores, 'Prestige Xclusive,' which now number 701 across 323 towns. The rationalization of GST rates for kitchenware, effective September 22, 2025, is expected to further boost consumption in the consumer durables sector, directly benefiting approximately 11.4% of the Consumer Price Index (CPI) basket.

However, the company acknowledges certain headwinds. Raw material prices, particularly for aluminium, are on an increasing trend, which is expected to impact gross margins in Q3. Exports remain subdued due to global uncertainties and tariff-related risks. The MFI-driven rural segment continues to face challenges, with no clear signs of recovery. Furthermore, the company's subsidiaries, Horwood Homewares in the UK and Ultrafresh Modular Solutions in India, are currently in an investment phase, leading to higher losses for the period as they focus on long-term growth and market penetration.

Looking ahead, TTK Prestige plans to continue its strategic investments in business excellence and cost efficiencies. While these investments may temporarily impact operating EBITDA over the next 6-7 quarters, they are expected to generate significant long-term value. The company introduced 51 new SKUs in Q2 and plans to launch another 49 in Q3 FY26, demonstrating a strong focus on product innovation. With India's economy projected to grow robustly and household spending on the rise, TTK Prestige is well-positioned to capitalize on expanding domestic demand and drive inclusive development, despite global uncertainties and input cost pressures.