BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Anand Rathi Report
With its revenue/profit after tax up 42%/75% YoY and a 12.1% Ebitda margin, Orient Electric Ltd.’s shining performance continued in Q4, led by its business-to-consumer range (electrical consumer durables, C-lum).
Its Rs 2.42 billion net-cash will be used for capex (the South India plant to be commissioned in FY23) and working capital needs.
While near term uncertainty persists due to frequent lockdowns and raw material cost rises, management looks forward to a good recovery once markets open and to maintain higher Ebitda margins (10.8%/8.6% in FY21/FY20).
We see all our earlier key monitorables (portfolio/network and margin expansion, premiumisation, free cash flows) intact.
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