ORIENTELEC

Orient Electric share price & financials

Makes and sells fans, home appliances, lighting, switchgear and wires under the Orient Electric brand.

Price: ₹172.88
Market cap: ₹3.6k Cr
Sector: Consumer Durables
Calls analysed: 8

Latest concall · Q1 FY27 · call held 22 Jul 2026

Orient Electric Limited Q1 FY27

EBITDA Margin 7% +1%PAT ₹31.5 cr +80%Gross Margin 29.8% PBT ₹42.5 cr +79%

What went well

Revenue grew 23.5% year-on-year, reflecting strong performance.
EBITDA margin improved by 102 basis points year-on-year to 7%.
PAT increased by 79.7% year-on-year to INR 31.5 crores.

What to watch

Gross margin moderated to 29.8%, impacted by persistent commodity price inflation.
Lead-lag effect in passing on commodity cost increases impacted margins, despite proactive price hikes.

Read the full call →

What Orient Electric Limited does

Orient Electric designs, manufactures and markets electrical consumer durables and lighting/electrical products under the Orient Electric brand, part of the diversified CKA Birla Group. It operates two reporting segments: Electrical Consumer Durables (fans and home appliances) and Lighting & Switchgear (consumer and professional lighting, switchgear, wires, switches and electrical accessories). The company manufactures at its own plants in Hyderabad, Faridabad and Noida, with backward integration into BLDC motors and PCBs, and reaches consumers through general trade retail, e-commerce/quick-commerce platforms, and an expanding Direct-to-Market distribution model.

Segments

Electrical Consumer Durables (ECD)
Lighting & Switchgear

Manufacturing plants: 3 (Hyderabad, Faridabad, Noida)
Hyderabad plant: Greenfield, Industry 4.0-standard fans manufacturing facility
Faridabad plant: Fans/appliances plant with in-house BLDC motor manufacturing line (backward integration)
Noida facility: Lighting & Switchgear plant with automated MCB manufacturing and an EMS/PCB facility
Direct-to-Market (DTM) distribution: Operational in 11 high-priority states (fans)
Direct service network: Spans 12 states

Headquarters New Delhi, India Company website

Guidance record · Q1 FY27

what the last two calls moved 14 tracked 3 delivered 4 missed 7 open

B2B Share of Lighting Revenue delivered said Q2 FY25 Promised: rise further from approximately 20% Q1 FY27: No new percentage split provided. B2B C-Loom grew by high single-digit while some tender business was consciously de-grown. Promise remains achieved.
Gross Margin missed said Q2 FY25 Promised: stabilize this and be in the same range [32.4%] Q1 FY27: GM at 29.8%, below the guided range of 32-34%. Management reiterates commitment to the range: 'we remain committed to come back closer to a 32% to 34% of gross margin'.
Working Capital Days at risk said Q2 FY25 Promised: maintain the working capital at these lower levels [~19 days] Q1 FY27: Working capital days improved to 25 days, down from over 30 in the previous quarter, but still above the original target of ~19 days.

All 14 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 23.5%, net profit up 72.2% against the same quarter last year.

₹ Cr · quarterly

Line item	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26	Q4 FY26	Q1 FY27
Revenue	660	817	862	769	703 +7%	906 +11%	948 +10%	950 +24%
Expenses	624	756	795	723	665	839	871	883
EBITDA	36	61	67	46	38 +6%	68 +11%	77 +15%	67 +46%
Margin	5%	7%	8%	6%	5%	7%	8%	7%
Other income	4	2	3	2	2	-7	2	0
Interest	6	6	6	5	5	7	5	6
Depreciation	20	20	22	19	19	19	20	19
Profit before tax	14	37	42	24	16 +14%	35 −5%	54 +29%	42 +75%
Tax rate	27%	26%	26%	26%	26%	26%	26%	26%
Net profit	10	27	31	18	12 +20%	26 −4%	40 +29%	31 +72%
EPS	0.49	1.27	1.47	0.82	0.57	1.22	1.89	1.48

How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −16.7% 1Y

1Y: ₹208.25 on 10 Sept 2025 → ₹173.56. High ₹213.66 (4 Nov 2025), low ₹154.64 (27 Mar 2026).

How the price took the results

close before → close after

Q1 FY27: −4.6%; 22 Jul
Q4 FY26: −2.0%; 8 May
Q3 FY26: +6.9%; 22 Jan
Q2 FY26: −0.8%; 27 Oct

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 9.5% a year over 3 years, FY23 to FY26. Operating margin widened to 6.9%.

Year ending	FY23	FY24	FY25	FY26
Revenue	₹2.5k Cr	₹2.8k Cr	₹3.1k Cr	₹3.3k Cr
Operating profit	₹151 Cr	₹145 Cr	₹204 Cr	₹229 Cr
Operating margin	6.0%	5.2%	6.6%	6.9%
Interest	₹22 Cr	₹23 Cr	₹24 Cr	₹22 Cr
Depreciation	₹54 Cr	₹58 Cr	₹80 Cr	₹77 Cr
Net profit	₹77 Cr	₹75 Cr	₹82 Cr	₹96 Cr
Net margin	3.0%	2.7%	2.7%	2.9%
Cash from operations	₹190 Cr	₹118 Cr	₹88 Cr	₹110 Cr
Free cash flow	₹76 Cr	₹-22 Cr	₹33 Cr	₹77 Cr
ROCE	19.0%	14.0%	18.0%	20.0%

How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year ending	FY21	FY22	FY23	FY24	FY25	FY26
Equity capital	₹21 Cr	₹21 Cr	₹21 Cr	₹21 Cr	₹21 Cr	₹21 Cr
Reserves	₹434 Cr	₹520 Cr	₹563 Cr	₹618 Cr	₹688 Cr	₹739 Cr
Borrowings	₹61 Cr	₹68 Cr	₹97 Cr	₹112 Cr	₹121 Cr	₹93 Cr
Other liabilities	₹645 Cr	₹579 Cr	₹583 Cr	₹700 Cr	₹625 Cr	₹813 Cr
Total liabilities	₹1.2k Cr	₹1.2k Cr	₹1.3k Cr	₹1.5k Cr	₹1.5k Cr	₹1.7k Cr
Fixed assets	₹186 Cr	₹212 Cr	₹226 Cr	₹236 Cr	₹423 Cr	₹406 Cr
Capital work in progress	₹11 Cr	₹3 Cr	₹86 Cr	₹225 Cr	₹3 Cr	₹10 Cr
Investments	₹0 Cr	₹0 Cr	₹0 Cr	₹37 Cr	₹0 Cr	₹60 Cr
Other assets	₹965 Cr	₹972 Cr	₹953 Cr	₹953 Cr	₹1.0k Cr	₹1.2k Cr
Total assets	₹1.2k Cr	₹1.2k Cr	₹1.3k Cr	₹1.5k Cr	₹1.5k Cr	₹1.7k Cr

How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Mutual funds in ORIENTELEC

Filings to Aug 2026

0 new, 1 added, 0 trimmed, 0 sold out — net +25.00 L shares (+14.6%).

Held by funds: ₹352 Cr; 2 schemes
Biggest holder: Nippon India Small Cap Fund; ₹343 Cr · 0.4% of that fund

Scheme	Holding	Last month	Held since
Nippon India Small Cap Fund Nippon India Mutual Fund	₹343 Cr	+25.00 L	Jan '18
HDFC Housing Opportunities Fund HDFC Mutual Fund	₹9 Cr	held	Aug '25

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

1 added, 0 trimmed — net +25.00 L shares (+14.6%)

Funds are sitting on: +2%; vs est. average cost
Held by funds: ₹352 Cr; 2 schemes · ≈ 9.3% of the company
Biggest holder: Nippon India Small Cap Fund; ₹343 Cr · 0.4% of that fund

Shares held by these funds +20%

Aug '23 1.71 cr shares Jul '26

What the price assumes

Expensive

To justify its price of ₹174, this stock must grow earnings at 22% every year for 7 years. Our analysis caps realistic growth at ~8%. At that growth it is worth ₹85 — downside of 51%.

Growth the price implies: 21.6% a year; for 7 years, fading to 4%
It has actually compounded at: 7.6% a year; net profit, FY23–FY26 · EPS 8.0%
The gap: 0.1 pp; -51% downside if it only repeats history

Price today ₹173.56 Value at the reference growth ₹85.07

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Orient Electric Limited

Guides on how to read this kind of business and the numbers that matter.