Anand Rathi's research report on Orient Electric
Orient Electric’s lighting category retained industry-leading growth, while its ECD was hit by late winter. Margins expanded on cost savings, premiumization and operating leverage. With the Hyderabad plant stabilised, fans are set for a roaring season. Robust growth in direct-tomarket (DTM) states and the focus on premiumisation and product development would boost market share/margins.
Outlook
With the stock falling ~25% from Jul’24 highs, the risk-reward has turned favourable, leading us to upgrade our rating on it to a Buy with a TP of Rs282.
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