TTK Prestige Ltd - Stock Valuation and Financial Performance

It was in the year 1928 that T T Krishnamachari, the first finance minister of India. founded TTK Prestige, one of the oldest business houses in the country today. Having initially pioneered and established a network of distribution, TTK Prestige moved to manufacturing, post-independence. Being a dynamic and fast growing company, it soon became the leading manufacture of Pressure cookers in India and offered the most comprehensive range of kitchenware in the world.

One of the main reasons why TTK attained its ‘leadership’ status is because it epitomised quality at an affordable price. It innovated and explored new business categories, all the while keeping its Indian identity intact. A company built on the foundation of trust, transparency and knowledge; TTK has grown to an impressive size today. It’s a 6000-crore group with 15 manufacturing units and 5000 employees. With products and facilities that enjoy international accreditations, TTK enjoys a presence in over 4,00,000 retail outlets across the country. Pressure cookers, toys, condoms, ready to fry foods; ball pens and cartography encompass some of the products TTK pioneers and deals in. And of course, it also has a strong business presence abroad and is associated with international organizations like SSL, Sara Lee, Dupont etc.

Setting up a manufacturing facility in Bangalore in 1949 kick-started the success saga that continues to grow more distinct by the day. Through the years, Prestige has always initiated numerous manufacturing and marketing innovations; be it something as unconventional as dropping pamphlets from a helicopter in the fifties or the popular “Exchange Schemes”, which have become the order of the day today, Prestige continues to give customers complete value for money.

In the 1990s Prestige introduced Manttra, targeting people abroad whose cuisine was compatible with pressure-cooking. It was well received. With leading chain stores like Macy’s, Target, Kohl, Walmart, K-mart and Sears stocking the brand, Prestige ensured that pressure-cooking as a concept came back into practice in the US. Continually adding more feathers to its hat, Prestige is getting bigger than ever. With strategic planning and sound market knowledge, today Prestige is truly an unstoppable force.

Prestige always stands for maximum value for money. The brand believes in this maxim to the core and it is visible in all its promotional campaigns A look at Prestige’s campaigns reveals a succession of innovative promotions. Their communications can clearly be differentiated from any other. Whether it was the ‘Jo Biwi se kare pyaar, voh Prestige se kaise kare inkaar’ commercial or the ‘first floor second floor’ or the ‘Muh khula, muh bandh’ television commercials, every advertisement has stood out in the crowd. Promotional campaigns like ‘happy exchanges offer’ have won regional awards. In fact, did you know Prestige pioneered the concept of ‘exchange’ in the kitchenware category in India and the rest followed.

Out of the box product and cutting edge television commercials have worked out very well for the brand and its promotions. Campaigns for Exchange Offers like ‘idhu eppadi irukku’ have increased the sales and also got lots of appreciation for the brand during the lean months.

These clever promotions helped media latch on to the concept and consumers started looking forward to these promotional activities year after year. There are many more, the latest being the ‘exchange anything for anything’ offer. An all- new concept, this offer promises the consumer complete freedom of choice. This enables the consumer to exchange any old kitchen product for any new Prestige product. This promotion excited the consumers as it was to their comfort and broke all rules.

One of the greatest recent achievements for Prestige is its entry into the non-south market. Having done its research, Prestige introduced an innovative cooker like the colourful Pressure Handis that compliment their style of cooking. Prestige is making its presence felt in the non-south market as well.

One Prestige Pressure Cooker gets sold in India every thirty seconds. Prestige added over 2.8 million customers in the year 2005-06, the largest in the industry till date. The company has the widest distribution network across the country in the kitchen appliances category. All pioneering efforts in this industry such as the introduction of the Pressure pan, Pressure Handi, Pressure Kadai, Metal spoon friendly cookware, Duplex gas stoves, Lifetime free service on mixer grinders were launched by Prestige  Prestige was also the pioneer in launching unique display contests for its dealers, with contests such as the “Display contest - Go for Gold”. The Duplex gas stove commercial created such an impact that people walked into Prestige Smart Kitchen outlets, asking for ‘first floor-second floor’ gas stoves.

Product range of the company includes:

• Pressure Cooker
• Deluxe, Popular, Money Saver, Nakshatra
• Pressure Handi Deluxe, Nakshatra, Baby Handi
• Pressure kadai Non-Stick Cookware, Omega select, Omega Die-Cast, Omega Deluxe
• Elec. Appliances Mixer Grinders, Juicer Mixer Grinder, Rice Cookers, Champion Food Processors(M), Oven Toaster Griller, Irons, DryIrons, Steam Irons, Kettles, Sandwich Toaster, Pop-up Toaster, Hand Blender, Wet Grinder
• 6 Gas & Glass Tops Conventional, Royale, Glass Tops
• Microwaves, Hoods & Hobs Kitchen Accessories, Knife Sets, Kitchen Tools, Barbeque

Milestones & Achievements :

• Prestige went right ahead and launched the Gasket release system that revolutionised the cooker category.
• Deluxe was India’s first pressure cooker with the unique Pressure Indicator that serves as a visual confirmation when it was safe to open the cooker.
• The launch of Prestige Omega and Omega Select - India’s first Metal spoon friendly non-stick cookware was another breakthrough and an unrivalled success.
• Prestige was the first cooker company to offer a ten-year warranty on its Euroclad base pressure cookers as well as the first to offer lifetime free service on its range of mixer grinders.
• Prestige was the first to come up with a host of innovations in consumer marketing in this industry with offers such as “On the spot exchange schemes”, “Exchange Anything for Anything offers”, etc.
• All path breaking safety features in pressure cookers were introduced by Prestige – the Gasket Release System (GRS), the Gasket Offset Device (GOD), the Pressure Indicator (PI) and the Resettable Safety Device (RSD) .
• TTK Prestige became the No.1 brand and market leader in India through 18,000 outlets serviced through a nationwide servicing network.
• It is the first kitchenware company in India to receive the ISO 9001:2000 certification.
• It is the first kitchenware company in India certified by international standards such as UL-USA and PED/CE certification by TUV, Germany.
• 2010
  TTK Prestige Announces e-Commerce Alliance with Infibeam.com.
  The Company is launching a whole new range of pressure cookers and cookware with induction base using dedicated imported machinery.
  TTK Prestige - Launch of Microwave Pressure Cooker.
  TTK Prestige - Launch of New Range of Inner Lid Pressure Cookers - Prestige Apple.
• 2012-13
  Superbrand Award
  Excellence In Improving Performance Through Leadership
  Corporate Leader Award
  Thought Leaders International Award
  Retail And Lifestyle Leadership Award
  Master Brand Award
  Retail Excellence Award
  Readers Digest Trusted Brand Award
  Most Preferred Kitchenware Brand Award
  Power Brand Award