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TTK Prestige looking at acquisition in home appliance area

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The company is looking at acquisition opportunities in home appliance space, both domestically and internationally, said TT Jagannathan, Chairman, TTK Prestige.

The company is looking at acquisition opportunities in home appliance space, both domestically and internationally, said TT Jagannathan, Chairman, TTK Prestige.
Speaking to CNBC-TV18, he said the company is at very early stages of identifying an acquisition and it could be a branded player as well. The target price for the acquisition would be up to Rs 500 crore.
Jagannathan said the rural market too wanted premium products, so the company is getting inroads into those markets. The rural market is also growing strongly for the company and expect that to continue going forward.
According to him, with government’s Ujjwala scheme, the gas stoves are back to demand and this has led to rise in sales of pressure cookers in rural market.
Based on the growth visibility, TTK Prestige can do better than 19 percent volume growth in FY19, he added.