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Dolat Capital Report
Orient Electric Ltd.'s sales were in line with estimates, though Ebitda and profit after tax were lower due to raw material pressures. However, the company managed its working capital well, sequentially improving to 34 days from 45 days.
Orient Electric has a positive outlook and expects demand to revive during the pre-summer season, as the fear of Omicron recedes.
It is also taking prices hikes of 4-6% in Q4 to counter margin pressures. We believe in the premiumisation and branding story that will drive growth for Orient Electric.
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