Add Orient Electric, target price Rs 295: ICICI Securities
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Synopsis
Orient Electric Ltd., incorporated in the year 2016, is a Mid Cap company (having a market cap of Rs 5800.09 Crore) operating in Consumer Durables sector.
Orient Electric Ltd. key Products/Revenue Segments include Electrical Equipment, Scrap, Export Incentives for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-06-2022, the company reported a Standalone Total Income of Rs 626.82 Crore, down -17.09 % from last quarter Total Income of Rs 756.00 Crore and up 48.11 % from last year same quarter Total Income of Rs 423.22 Crore. Company reported net profit after tax of Rs 18.95 Crore in latest quarter.
The company’s top management includes Mr.Chandra Kant Birla, Mr.Desh Deepak Khetrapal, Mr.Rakesh Khanna, Ms.Alka Marezban Bharucha, Mr.K Pradeep Chandra, Mr.TCA Ranganathan. Company has S R Batliboi & Co. LLP as its auditors. As on 30-06-2022, the company has a total of 21 Crore shares outstanding.
Stocks Recommendations
Promoter/FII Holdings
Promoters held 38.52 per cent stake in the company as of 30-Jun-2022, while FIIs owned 6.16 per cent, DIIs 29.08 per cent.