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1 — At a Glance
TTK Healthcare sells gripe water, condoms, papad, heart valves and cattle feed supplements down one distribution pipe. Revenue in the three months to June 2026 was ₹258 crore, the largest quarterly figure in the series.
Operating profit was ₹15 crore, against ₹3 crore in the same quarter a year earlier. The operating margin then sat at 1.2%. ICRA, a credit-rating agency, attributed that level to higher spending on brand promotion and discounts in consumer products and protective devices.
Net profit was ₹21 crore, up 63.7% on the same quarter last year. Earnings per share were ₹15.06, against ₹9.20.
On 23 July the company agreed to sell EVA and Good Home to Wipro Enterprises for ₹256 crore plus GST. The two brands, deodorants and air fresheners, are among those the Consumer Products segment is built on. The net book value of the related assets as at 30 June 2026 was ₹70.48 lakh. Closing is expected by 30 September 2026, so the sale does not touch this quarter’s figures.
Inventory written off in the year to March 2025 came back to life. Male contraceptives worth ₹5.86 crore had been written down in full after USAID’s stop-work order cancelled the purchase orders. Somewhere in Chennai, an inventory ledger is having the strangest year of its life. This quarter the company received fresh orders of ₹5.45 crore for that same stock. It invoiced ₹5.10 crore of it to USAID for ₹7.02 crore, booked in revenue.
2 — Introduction
TTK Healthcare Limited began in 1958 as a pharmaceutical company. It has spent the decades since diversifying away from that description, and the Human Pharma Division that carried it is gone.
The company belongs to the TT Krishnamachari Group. The group’s flagship, TTK Prestige, is one of India’s leading kitchen appliance companies.
The defining event of the recent past came in the year to March 2023. The company sold its entire Human Pharma Division to BSV Pharma Private Ltd for ₹805 crore. That transaction reshaped the balance sheet. As at 30 June 2025 the company held unencumbered cash and bank balances of ₹927.0 crore. ICRA, a credit-rating agency, notes that this largely comprises the divestment proceeds, parked as bank fixed deposits. ICRA states it will continue to monitor the company’s business plans, including the proposed application of those funds.
The promoters then attempted to leave the market entirely. In April they announced an intention to delist roughly 3.6 million equity shares from the BSE and NSE. The offer failed. The threshold of 90% of paid-up capital, mandated by the Delisting Regulations, was not met.
The year to March 2026 brought two deaths in the promoter group. T T Venkatesh died on 17 September 2025. He held 14,000 shares, or 0.1% of the company. His interest in the promoter partnership firm was 14%. T T Jagannathan died on 9 October 2025. He held 7,59,298 shares, or 5.37% of the company. His partnership interest was 3%. Both deaths were disclosed to the exchanges under Regulations 30 and 31A.
In March 2025, S Kalyanaraman was redesignated Managing Director and Chief Executive. T T Raghunathan signs the results as Executive Chairman.
In July 2026, two consumer brands went to Wipro.
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3 — Business Model: WTF Do They Even Do?
Sales in the year to March 2025 read like a shopping list assembled by five different people. Male contraceptives were about 26% of the total and food products about 17%. Animal welfare came to about 16% and ayurvedic preparations about 12%. Medical devices were about 11%. Home care and the cosmetics and deodorant line were about 9% each.
Consumer Products carries Woodward’s Gripe Water, marketed in India since 1928 and one of the oldest FMCG brands anywhere on earth. It is the market leader in the Indian colic market. In the year to March 2025 its volumes fell sharply, especially in the southern market. The company said it would refresh the brand identity the following year, including a new logo. Eva deodorants grew about 5% and signed Rashmika Mandanna as brand ambassador. Good Home air fresheners grew 15% on new launches. Eva and Good Home are the two brands now sold to Wipro.
Protective Devices covers Skore and MsChief, plus Love
