Team ProductLine has add call on Orient Electric with a target price of Rs 295. The current market price of . is Rs 259.7.
Orient Electric Ltd., incorporated in the year 2016, is a Mid Cap company (having a market cap of Rs 5512.61 Crore) operating in Consumer Durables sector.
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.
Investment Rationale
The brokerage models revenue and PAT CAGRs of 13% and 14.2%, respectively, over FY22-FY24E. It forecasts RoE to be >20% over FY22-FY24E. It maintains ADD rating on the stock and a DCF-based target price of Rs295 (implying 38x FY24E EPS).
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.
Orient Electric Ltd., incorporated in the year 2016, is a Mid Cap company (having a market cap of Rs 5512.61 Crore) operating in Consumer Durables sector.
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.
Investment Rationale
The brokerage models revenue and PAT CAGRs of 13% and 14.2%, respectively, over FY22-FY24E. It forecasts RoE to be >20% over FY22-FY24E. It maintains ADD rating on the stock and a DCF-based target price of Rs295 (implying 38x FY24E EPS).
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.
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