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Accumulate Orient Electric; target of Rs 270: Dolat Capital Market

Dolat Capital Market recommended accumulate rating on Orient Electric with a target price of Rs 270 in its research report dated January 14, 2021.

January 15, 2021 / 11:27 AM IST
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Dolat Capital Market's research report on Orient Electric

OEL is a well-established player under the ECD and Lighting space, being the largest exporter and manufacturer of fans in India. OEL has more than 6 decades of experience, with an extensive network of more than 125,000 retailers across the country. The company has seen a strong growth over the past 3 years at CAGR ~12.6%, ECD business witnessed a CAGR of ~10.7% while lighting and switchgears business rapidly grew by ~18.3% CAGR due to lower base and now contributes to 27.7% of revenues. It has in house manufacturing capability, a strong brand name, control on supply chain and exclusive access to premium branded partnerships; it aims to exploit the growing opportune FMEG market banking on the growth in demand for fans and small appliances.


We are confident about the company’s growth story and assume a revenue CAGR of 8.5% FY20-23E and PAT CAGR of 25.8% FY20-23E.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Jan 15, 2021 11:27 am

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