Buy Orient Electric, target price Rs 416: Centrum Broking

Centrum Broking has buy call on Orient Electric with a target price of Rs 416. The current market price of Orient Electric Ltd. is Rs 330.15. Time period given by analyst is one 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 6994.70 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 31-12-2021, the company reported a Standalone Total Income of Rs 679.24 Crore, up 14.02 % from last quarter Total Income of Rs 595.72 Crore and up 9.73 % from last year same quarter Total Income of Rs 619.02 Crore. Company reported net profit after tax of Rs 38.08 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 38.5 per cent stake in the company as of June 30, 2021, while FIIs held 8.8 per cent, DIIs 22.4 per cent and public and others 30.4 per cent.