Add Orient Electric, target price Rs 340: HDFC Securities

HDFC Securities has add call on Orient Electric with a target price of Rs 340. The current market price of Orient Electric Ltd. is Rs 270.45. Time period given by analyst is year when Orient Electric Ltd. price can reach defined target.

Orient Electric Ltd., incorporated in the year 2016, is a Mid Cap company (having a market cap of Rs 5750.23 Crore) operating in Consumer Durables sector.

Orient Electric Ltd. key Products/Revenue Segments include Electrical Equipment, Scrap, Export Incentives and Sale of services for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-03-2022, the company has reported a Standalone Total Income of Rs 756.00 Crore, up 11.30 % from last quarter Total Income of Rs 679.24 Crore and down -6.17 % from last year same quarter Total Income of Rs 805.70 Crore. Company has reported net profit after tax of Rs 48.78 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 38.52 per cent stake in the company as of 31-Mar-2022, while FIIs owned 8.26 per cent, DIIs 26.31 per cent.