TTK Prestige sees robust demand; says e-commerce fastest growing channel for co

“E-commerce is growing, it is our fastest growing space,” said Chandru Kalro, MD of TTK Prestige, in an interview with CNBC-TV18.

“In Q1FY22, we had almost 30 percent of our sales coming through e-Commerce. That, I expect will come down as a percentage, but I am expecting that the growth in e-Commerce will be quite robust. Other channels are also looking very good at this point in time,” he said.

Prefer India over China; neutral on emerging markets: Standard Chartered Wealth

He sees robust demand. “We are seeing the demand to be absolutely robust, there is no problem, and our sales have been good since July.”

In terms of price hikes, he shared, “We had taken a price hike at the end of quarter one and during quarter two. This has been our second price hike now in the last six months. We have taken a price hike of 5 percent on pressure cooker and cookware and about 5-6 percent on gas stove business.”

Also Read: Infra asset monetisation: FM Sitharaman assures ownership of lands will remain with govt

On margins, he said, “We will be in a position to maintain our margins of last year which were one of our best in the last so many years.”

The company has settled the industrial unrest at their Khardi unit in Maharashtra and has reached a long-term settlement with permanent workmen, who have agreed not to disrupt activities, going forward. The lock-out was declared in November 2020 and production commenced from August 23, that is yesterday.

Also Read: Galaxy Surfactants expects demand uptick but supply chain woes persist

Khardi is the smallest plant in terms of its impact on the overall company. It does not impact the company’s margins, Kalro said.