Orient Electric Ltd (ORIENTELEC)

Orient Electric Focuses on Direct-to-Market Strategy and Manufacturing Expansion - 16 Jul, 2024

Orient Electric is adopting a direct-to-market distribution strategy in certain states to boost its fans business, with 65% YoY sales growth in these states. The company is also ramping up manufacturing by commissioning a new greenfield plant in Hyderabad. Additionally, the internal cost savings program has helped achieve cost savings of 2.7% of revenue in FY24. Orient Electric recorded operation revenue of ₹2,812.1 crore in FY24, up 11% over FY23.

HDFC Securities Recommends Buy on Orient Electric with Target Price of Rs 320 - 12 Jul, 2024

Orient Electric Ltd. is a mid-cap company operating in the consumer durables sector. HDFC Securities has recommended a buy call on the stock with a target price of Rs 320, citing strong financials and growth potential. For Q4 2023, the company reported a standalone total income of Rs 792.70 crore, up 19.34% YoY. Promoters hold 38.31% stake in the company.

Orient Electric's Dividend Payment May Not Be Sustainable - 04 Jul, 2024

Orient Electric Limited is set to pay a dividend of ₹0.75 per share on August 31st, with a typical yield of 0.5%. However, the company's earnings are not being converted into cash flow, which could be problematic in the future. While dividends have grown at a reasonable rate, there has been at least one substantial cut in payments, making it uncertain if this stock would be ideal for income-focused investors.

Institutional Investors Hold 38% Ownership in Orient Electric Ltd - 27 Jun, 2024

Orient Electric Ltd gained ₹4.4b in market cap last week, with a one-year return on investment of 16%. Central India Industries Limited is the largest shareholder with 25% of shares outstanding. Insider ownership is positive, and private companies own 36%.