TTK Prestige is planning to begin construction of its facility near Vadodara in Gujarat in the second quarter of 2011-12 which is part of the company's Rs 225-crore capacity expansion plan slated to be completed during the first half of 2012. The proposed capacity expansion plan of Rs 225 crore would also cover facilities at Hosur, Coimbatore, Roorkee and in Gujarat, apart from other parts of western India and is mainly funded out of internal accrual.
To set up a manufacturing facility for pressure cookers and kitchenware products the company has recently announced completion of acquisition of a 60-acre land near Vadodara and the proposed investment for the project is around Rs 125 crore. The construction of the factory is slated to commence during the second quarter of the current financial year. In September this year, the company expects to start commercial production in the expanded facility for pressure cookers in Coimbatore factory while the company's pressure cooker facility in Roorkee was nearly complete and had already started commercial production recently.
As of June 30, 2011, the company spent Rs 100 crore on the expansion plans. It would resort to transient borrowing during the current financial year to fund the capital expenditure, pending accrual of internal cash generations.
TTK Prestige, one of the oldest business houses in the country today and the leading manufacturer of Pressure cookers in India and offered the most comprehensive range of kitchenware in the world. The company’s net profit after tax for the quarter ended June 30, 2011 surged by 58.08% at Rs 25.34 crore as compared to Rs 16.03 crore for the quarter ended June 30, 2010. Its total income has increased by 60.39% to Rs 233.14 crore for the quarter under review from Rs 145.35 crore for the similar quarter of the previous year.
| Company Name | CMP |
|---|---|
| Crompt.Greaves Cons. | 388.05 |
| Whirlpool Of India | 1939.10 |
| Bajaj Electricals | 773.80 |
| IFB Industries | 1784.70 |
| Orient Electric | 242.50 |
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