Buy Orient Electric, target price Rs 375: BNP Paribas

BNP Paribas Securities has buy call on Orient Electric with a target price of Rs 375. The current market price of Orient Electric Ltd. is Rs 265.2.

Orient Electric Ltd., incorporated in the year 2016, is a Mid Cap company (having a market cap of Rs 5640.25 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 30-09-2022, the company reported a Standalone Total Income of Rs 517.06 Crore, down -17.51 % from last quarter Total Income of Rs 626.82 Crore and down -13.20 % from last year same quarter Total Income of Rs 595.72 Crore. Company reported net profit after tax of Rs -.28 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 38.42 per cent stake in the company as of 30-Sep-2022, while FIIs owned 6.16 per cent, DIIs 26.95 per cent.