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.
Motilal Oswal Report
Orient Electric Ltd.'s revenue grew 37% YoY and came in 19% above our estimate.
While the surge in commodity prices led to a 480 basis point YoY deterioration in gross margin, strong volume growth, led by operating leverage, cushioned the impact at the Ebitda margin level versus our expectation.
Ebitda grew 7% YoY and was 31% ahead of our expectation. Adjusted profit after tax grew by 7% and came in 46% ahead of our expectation.
Working capital stood elevated owing to higher inventory in anticipation of global supply chain shortages and possibility of a third Covid-19 wave.
Orient Electric's management expects working capital to normalise over the next two quarters.
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