India's Orient Electric posts quarterly profit rise on strong demand

Orient Electric

25/04/2025 10:14

April 25 (Reuters) - Home appliances maker Orient Electric ONTE.NS posted an over two-fold rise in fourth-quarter profit on Friday, helped by strong demand for its fans and air coolers with the onset of summer.

The company's profit rose to 312.6 million rupees ($3.66 million) in the quarter ended March 31, from 128 million rupees a year ago.

Revenue from operations grew 9.4% to 8.62 billion rupees during the quarter.

For further earnings highlights, click nFWN3R23LS

KEY CONTEXT

The fourth quarter was strong for consumer durables makers, driven by an early summer in India and channel filling for products like air coolers, refrigerators, and fans, according to analysts.

India saw above-average temperatures from January to March, with both days and nights warmer than normal across most regions.

Fans saw solid demand from summer stocking, with companies implementing modest price hikes.

Revenue from Orient Electric's consumer durables segment, which includes fans, air coolers, and kitchen appliances, rose 7.9% in the quarter. The segment remains its main revenue driver.

PEER COMPARISON

Valuation (next 12 months)
Estimates (next 12 months)
Analysts' sentiment
RIC
PE
EV/EBITDA
Price/Sales
Revenue growth (%)
Profit growth (%)
Mean rating*
No. of analysts
Stock to price target**
Div yield (%)
Orient Electric
ONTE.NS
37.49
18.49
1.29
12.85
57.76
Buy
13
0.87
0.64
Havells India
HVEL.NS
54.85
37.13
4.16
13.96
20.24
Buy
24
0.89
0.62
Polycab India
POLC.NS
36.08
24.90
2.90
17.40
21.27
Buy
25
0.85
0.53
Crompton Greaves Consumer Electricals
CROP.NS
32.17
21.54
2.26
15.36
23.68
Buy
31
0.75
0.87

* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

JANUARY- MARCH STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 85.4400 Indian rupees

Orient Electric Jan-March https://tmsnrt.rs/4joo2Bt

 (Reporting by Yagnoseni Das in Bengaluru; Editing by Nivedita Bhattacharjee and Mrigank Dhaniwala)

 ((Yagnoseni.Das@thomsonreuters.com;))