Orient Electric Limited is an electric equipment manufacturer involved in producing and marketing electric fans, lighting equipment, home appliances, and switchgear. The company, founded in 1954, is a part of the CK Birla Group and has manufacturing facilities in Kolkata, Noida, and Faridabad. The company has its headquarters in New Delhi and a presence in more than 35 countries.
On 5 January 2023, the market capitalisation of the company was Rs 5,621.10 crore. It reported consolidated sales of Rs 2,542 crore at the end of September 2022. The company is listed on the Bombay Stock Exchange with the code 541301 and the National Stock Exchange with the code ORIENTELEC.
On 30 September 2022, the company’s shareholding pattern indicated a promoter stake of 38.42%, a 0% stake of foreign institutional investors (FIIs), while mutual funds and domestic institutional investors (DIIs) held a consolidated stake of 26.95%, and the public held a stake of 34.6% in the company. The company’s shareholding pattern has remained largely consistent over the past year, with the exception that the FII stake in the company has gone down from around 9% to nil.
The company’s board of directors comprises Chandra Kant Birla, Desh Deepak Khetrapal, Rakesh Khanna, Alka Marezban Bharucha, K Pradeep Chandra and TCA Ranganathan, and others. The auditors of the company are S R Batliboi & Co. LLP. On 30 September 2022, the company had a total of 21.27 crore shares outstanding.
On 5 January 2023, Orient Electric Limited’s share price on BSE was Rs 264.00 and Rs 264.20 on NSE. The share price touched a 52-week high of Rs 381.00 and a 52-week low of Rs 244. Its three-month return to investors was -2.56%, while its one-year return was -28%.
In the first quarter of FY23, the company announced that it achieved revenue growth of 14% CAGR over the past five years. The company’s EBITDA was reported to be in line with pre-COVID levels. The company’s sales of water coolers and heaters saw strong growth.
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