Orient Electric trades higher on eyeing good growth in revenue from fans and cooler business

Shares of Orient Electric Limited have given more than 8 per cent in the last six months.

Good Growth in Revenue in FY24

Orient Electric (OEL) is eyeing good growth in revenue in FY24 from its fans and cooler business. With summer approaching, Orient Electric expects a natural drift in growth coming from the fan segment, housing segment and the replacement market.

OEL operates in consumer durables, lighting and switchgear products. In 2021-22, its revenue from operations was Rs 2,448 crore. It has two segments, Electrical Consumer Durables (ECD), which contributed 73 per cent of its business in FY22, while the rest 27 per cent came from the Lighting and Switchgear segment (L&S).

Share price movement of Shree Cement Limited

Today, the stock opened at Rs 27, with a high and low of Rs 275.60 and Rs 271.60. The stock closed trading at Rs 275.15, up by 0.53%.

In the last 6 months, the shares of the company have given about 8.27% returns and on a YTD basis, the stock has given about 4% returns.

The stock has a 52-week high of Rs 356.95 and a 52-week low of Rs 245. The company has a ROCE of 33.7% with a market capitalisation of Rs 5,855 crore.

Company profile 

Orient Electric Limited (OEL) is part of the diversified Indian conglomerate CK Birla Group. A distinguished name in the Indian fan industry for more than 60 years, OEL has today established itself in the market as a one-stop brand for lifestyle electrical solutions which include Fans, Lighting, Home Appliances and Switchgear. The Company is primarily engaged in the manufacture/purchase and sale of Electrical Consumer Durables, Lighting & Switchgear products.