PRESS RELEASE


TTK Prestige in rapid growth stage

TTK Prestige Limited’s strategy to transform itself from a mere Pressure Cooker Company to a Total Kitchen Solution Company is paying rich dividends. The company is showing continuous growth during the last nine quarters as compared to the corresponding quarters of the previous year.

For the quarter ended 31st December 2005, the Company registered a turnover of Rs.77 Crores, a growth of 25.3% over the comparable quarter of the previous year. The cumulative turnover for the nine months ended 31st December 2005 amounted to Rs.182 Crores, registering a growth of 22.2% over the corresponding period of the previous year.

The company’s Profit before Tax for the quarter ended 31st December 2005 registered a growth of 84% i.e. from Rs.3.16 Crores to Rs.5.82 Crores and the Post Tax Profit for the period amounted to Rs.3.17 Crores, a growth of 93% over the corresponding quarter of the previous year. The cumulative profit for the nine months ended 31.12.2005 more than tripled from Rs.1.86 Crores to Rs.5.71 Crores.

The Company’s growth is being aided by the following factors:

1. The Company introduced several new products with well differentiated features in all its categories namely Pressure Cookers, Non-stick Cookware, Stoves, Mixer Grinders and other appliances.

2. The rapid expansion of Company’s exclusive outlet “PRESTIGE SMART KITCHEN” which rose from 51 outlets at the end of 31.3.2005 to 72 outlets at the end of 31.12.2005.

3. The company registered steep volume growths in all its product categories namely Pressure Cookers, Non-stick Cookware, Stoves, Domestic Kitchen Electric Appliances.

4. The Company reaped significant gains from the growth in value added products.

5. The company made large investments in brand promotion nationally covering all its new product categories.

Launch of Inner Lid Pressure Cookers

During December 2005 the Company launched its first ever inner lid pressure cooker under the brand name “Prestige Nakshatra” in the North eastern markets. The range has been well received by the trade and end customers.

Till this launch Prestige has been present only in the “outer-lid” format which is popular in the South and parts of Western markets in India.

The population in North and Eastern India are accustomed to “inner-lid” models in which segment TTK Prestige has not been present till this launch. In terms of volume, the inner lid format is almost twice that of the “outer-lid” format. Even prior to the launch of this product Prestige has been enjoying a dominant value share in the total pressure cooker market consisting of both the formats. With this launch, the company has the opportunity to increase its volume as well as value share in the total pressure cooker market.

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