Orient Electric Ltd

Orient Electric Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Orient Electric Ltd

₹ 209 -2.77%
10 May - close price
orientelectric.com BSE: 541301 NSE: ORIENTELEC
About

Orient Electric is one of the leading consumer electrical brands in India with a diverse portfolio of fans, lighting, home appliances and switch-gears. The company takes pride in its R&D capabilities, spirit of continuous innovation and commitment to manufacturing cutting-edge lifestyle electrical products that meet the needs and expectations of modern consumers. [1]

Key Points

Electric Consumer Durables Segment [1]
Company sells ceiling fans (portable and airflow) and appliances – air coolers, geysers, and home appliances, etc. under brand name Orient Electric. The segment contributed about 69% of the total sales in FY23 (73% in FY22).
OEL is among the top three players in organized fans industry and is the largest exporter of fans from India, with strong presence in West Asia, Africa, USA and Europe. Exports constituted 4.52% of net sales in FY23 (vs 5.64% in FY22). Company is trying to reduce its product concentration on fans.
The fan industry is undergoing a shift, with BEE’s mandatory star labeling norms for fans coming into effect from 1st January 2023.[2]

Website BSE NSE
  • Market Cap ₹ 4,454 Cr.
  • Current Price ₹ 209
  • High / Low ₹ 263 / 189
  • Stock P/E 72.2
  • Book Value ₹ 30.0
  • Dividend Yield 0.72 %
  • ROCE 14.1 %
  • ROE 10.1 %
  • Face Value ₹ 1.00
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Pros

  • Company has been maintaining a healthy dividend payout of 39.4%

Cons

  • The company has delivered a poor sales growth of 8.57% over past five years.
  • Company's cost of borrowing seems high

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Consumer Durables Industry: Domestic Appliances

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
802 422 594 678 753 622 511 739 658 706 567 752 788
705 400 532 612 673 583 499 684 612 662 546 703 757
Operating Profit 97 22 62 66 81 38 12 55 46 44 21 49 31
OPM % 12% 5% 10% 10% 11% 6% 2% 7% 7% 6% 4% 7% 4%
4 1 1 1 3 5 6 9 6 3 22 4 5
Interest 5 5 5 5 6 5 5 6 6 6 5 5 7
Depreciation 11 12 12 12 12 13 13 14 14 14 14 15 15
Profit before tax 84 7 47 51 65 25 0 44 33 27 23 33 13
Tax % 26% 26% 25% 25% 25% 25% 315% 25% 25% 26% 21% 26% 5%
63 5 35 38 49 19 -0 33 25 20 18 24 13
EPS in Rs 2.95 0.24 1.64 1.79 2.30 0.89 -0.01 1.53 1.16 0.92 0.86 1.14 0.60
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
216 1,600 1,864 2,062 2,033 2,448 2,529 2,812
193 1,461 1,721 1,885 1,813 2,217 2,378 2,668
Operating Profit 24 139 143 177 220 231 151 144
OPM % 11% 9% 8% 9% 11% 9% 6% 5%
1 3 8 4 6 6 27 34
Interest 3 24 23 26 21 20 22 23
Depreciation 2 20 23 40 43 47 54 59
Profit before tax 20 98 105 114 162 170 102 96
Tax % 41% 35% 34% 31% 26% 25% 26% 22%
12 64 69 79 120 127 76 75
EPS in Rs 3.02 3.27 3.71 5.64 5.97 3.56 3.53
Dividend Payout % 0% 33% 31% 31% 35% 34% 42% 43%
Compounded Sales Growth
10 Years: %
5 Years: 9%
3 Years: 11%
TTM: 11%
Compounded Profit Growth
10 Years: %
5 Years: -3%
3 Years: -20%
TTM: -19%
Stock Price CAGR
10 Years: %
5 Years: 5%
3 Years: -9%
1 Year: -5%
Return on Equity
10 Years: %
5 Years: 19%
3 Years: 16%
Last Year: 10%

Balance Sheet

Figures in Rs. Crores

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 0 21 21 21 21 21 21 21
Reserves 192 242 285 338 434 520 563 618
211 186 135 155 61 68 97 112
344 359 447 446 645 579 583 700
Total Liabilities 747 808 889 960 1,162 1,187 1,265 1,451
0 106 117 190 186 212 226 238
CWIP 0 5 4 10 11 3 86 223
Investments 0 0 0 0 0 0 0 37
747 698 768 760 965 972 953 953
Total Assets 747 808 889 960 1,162 1,187 1,265 1,451

Cash Flows

Figures in Rs. Crores

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
59 91 132 129 427 11 190 118
4 -22 -31 -51 -151 78 -110 -171
-40 -62 -100 -103 -144 -80 -66 -46
Net Cash Flow 23 7 1 -24 133 10 14 -98

Ratios

Figures in Rs. Crores

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 609 88 77 64 64 58 51 60
Inventory Days 516 73 76 74 64 67 57 59
Days Payable 1,462 97 101 86 133 93 91 101
Cash Conversion Cycle -337 65 52 53 -6 33 18 17
Working Capital Days 1,016 58 49 48 2 30 22 24
ROCE % 29% 29% 29% 35% 34% 19%

Shareholding Pattern

Numbers in percentages

7 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
38.48% 38.52% 38.52% 38.52% 38.52% 38.42% 38.42% 38.41% 38.30% 38.30% 38.30% 38.30%
8.80% 8.74% 8.99% 8.26% 6.16% 6.12% 6.13% 5.75% 5.50% 5.69% 5.94% 6.52%
22.35% 23.78% 24.94% 26.30% 29.08% 27.02% 26.66% 27.60% 27.87% 29.98% 29.23% 27.19%
30.37% 28.96% 27.55% 26.92% 26.24% 28.43% 28.79% 28.23% 28.32% 26.04% 26.54% 27.97%
No. of Shareholders 60,03567,18373,78880,20877,76288,89583,28780,01683,45587,59894,6751,02,708

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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