Orient Electric

Gross margin of the company expanded by 210 bps annually to 32.4 per cent, driven by improved mix, cost optimisation and follow-through of price increases

Orient Electric Ltd on Friday reported a 43.41 per cent decline in its net profit to Rs 10.44 crore for the second quarter ended September 2024. It had posted a net profit of Rs 18.45 crore in the July-September quarter a year ago, according to a regulatory filing from the CK Birla group firm. However, its revenue from operations increased 16.44 per cent to Rs 660.15 crore during the period under review. It was Rs 566.9 crore in the corresponding period of the last fiscal. The revenue growth was driven by "...encouraging performance in the lighting, appliances and Fans segments on the back of digital thrust, festival lifting and higher realisations". Its total expenses were Rs 650.11 crore, up 14.94 per cent, in the September quarter. Orient Electric's total income, which includes other income, stood at Rs 664.34 crore, up 16.5 per cent. Shares of Orient Electric Ltd on Friday settled at Rs 210.30 apiece on BSE, down 1.61 per cent from the previous close.

Orient Electric, which also sells fully automatic coffee machines, hand mixers and switchgears, said its revenue from operations rose 19.7%

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IMD forecasts that most parts of the country will experience hotter-than-average temperatures from March through May, leading to an uptick in the frequency of heatwave days

The company's digital revenue recorded growth of 58 per cent YoY

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The company has appointed Rajan Gupta as Additional Director and the Managing Director & Chief Executive Officer of the company

Orient Electric Ltd on Friday announced the appointment of Rajan Gupta as its Managing Director and CEO as the incumbent Rakesh Khanna resigned after having a stint of 8 years. Orient Electric Ltd (OEL) at its meeting held on Friday appointed Rajan Gupta as Additional Director and the Managing Director & Chief Executive Officer of the company "for a period of 5 years effective from April 04, 2023, till April 03, 2028, subject to the approval of shareholders of the company," said a regulatory filing by the C K Birla Group. While Khanna's resignation shall be effective from the close of business hours on April 03, 2023, it added. Gupta joins OEL board as a full-time director and he will be based in New Delhi. Prior to this, Gupta was with Hathway Cable and Datacom, where he was the MD and CEO, and Chairman of the Board, GTPL Hathway. OEL Chairman C K Birla said: "We are deeply committed to making Orient Electric an industry leader in fans, lighting, appliances and switchgear as we .

The Orient Electric Cloud 3 is a novel pedestal fan good for spaces where coolers and air conditioners cannot be installed. It is, however, not an alternative to any of these

As summer sets in with predictions of harsh temperatures, CK Birla firm Orient Electric expects a good growth in revenue in FY24 from its fans and cooler business, MD & CEO Rakesh Khanna said. With summer approaching, Orient Electric Ltd (OEL) expects a "natural drift" in growth coming from the fan segment, housing segment and the replacement market. "Lighting will also grow well for us as in B2B, we are growing fast. Coolers, in the last three years, have faced headwinds because of COVID and this is the first year after COVID... Summer is likely to be very good, so cooler is going to do very well," Khanna told PTI. Asked about early trends from its dealers and channel partners, he said for cooler, growth is taking place. "For fan, January was muted but now it is taking off." OEL operates in consumer durables, lighting and switchgear products. In 2021-22, its revenue from operations was Rs 2,448 crore. It has two segments, Electrical Consumer Durables (ECD), which contributed 73 .

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The electrical appliances maker posted a net profit of about Rs 32 crore, while expenses fell nearly 9 per cent

The company reported a nearly seven-fold jump in net profit at Rs 32.4 crore in Q2FY21.

The CK Birla group company goes premium, partners with Tata Elxsi to enhance product design and performance

Out of an estimated 3 million units of fans exported from India, Orient Electric commands a 60 per cent market share

Company is looking at expanding its presence in fan market in South India