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Orient Electric Q4 Results Review: Nirmal Bang Maintains 'Buy', Hikes Target Price
Nirmal Bang maintains Buy with a target price of Rs 287, which implies a P/E of 33x on FY27E EPS and it is at a ~48% discount to the five-year historical average P/E multiple on a 1-yr forward basis.
28 Apr 2025, 01:36 PM IST 
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Orient Electric's topline grew 9.4% YoY to Rs 8.6 billion, led by good growth in Lighting and Switchgears (up 12.5% YoY; better than peers like Havells.
(Photo: Company website)
Orient Electric's topline grew 9.4% YoY to Rs 8.6 billion, led by good growth in Lighting and Switchgears (up 12.5% YoY; better than peers like Havells: +1.5%) and high-double digit volume growth along with ~200bps market share gains in B2C lighting. Expansion of distributor partnerships and new product launches supported growth. Despite a soft start to Q4, fans exhibited high-single digit growth with summer-led channel filling start...
