Orient Electric Limited (ORIENTELEC)
₹200.91 +1.91% last close, 16 Oct
Q2 FY27 results
Orient Electric Limited reported Q2 FY27 results on 15 Oct 2026: revenue ₹879 Cr (+25.1% year on year, -7.4% on the previous quarter), and net profit ₹27.1 Cr (+125.5% year on year); the operating margin was 6.5%.
| Q2 FY27 (₹ Cr) | Value | YoY vs Q2 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹879 | +25.1% | -7.4% |
| Operating profit | ₹56.8 | +49.4% | -14.7% |
| Net profit | ₹27.1 | +125.5% | -14.1% |
| EPS (₹) | 1.27 | +122.8% | -14.2% |
| Operating margin | 6.5% | — | — |
- Profit +81% above its own trend
- Operating margin expanded 105 bps YoY
Quality of profit: of pre-tax profit of ₹36.5 Cr, ₹32.5 Cr (89%) came from the core business and the rest from other income and one-off items. Core profit (operating profit less interest and depreciation) moved +132.5% year on year.
Against its own trend: net profit of ₹27.1 Cr was +81.1% against the ₹14.9 Cr its recent growth pointed to (above trend). This is a statistical baseline, not an analyst estimate.
Share price since the results: +15.6% (close before the filing to the latest close).
ORIENTELEC delivery percentage and bulk deals
NSE end-of-day data for
On Fri, 16 Oct 2026, 5.09% of the ORIENTELEC shares traded on NSE were taken to delivery, against the stock's own 20-session average of 50.53%. That is lower than usual for this stock. It traded 72.0 times its average daily volume. 6 bulk or block deals were reported in ORIENTELEC in the last 60 days: ₹88 Cr bought and ₹88 Cr sold.
Delivery in the last 5 sessions: 40.5% · 37.8% · 54.9% · 12.8% · 5.1%
| Date | Side | Counterparty | Value | Price | Quantity | Type |
|---|---|---|---|---|---|---|
| 16 Oct | Sell | Alphagrep Securities Private Limited | ₹36.10 Cr | ₹207.14 | 1,742,645 | Bulk |
| 16 Oct | Buy | Alphagrep Securities Private Limited | ₹36.07 Cr | ₹207.00 | 1,742,645 | Bulk |
| 16 Oct | Buy | Qe Securities Llp | ₹27.17 Cr | ₹206.09 | 1,318,494 | Bulk |
| 16 Oct | Sell | Qe Securities Llp | ₹27.04 Cr | ₹206.71 | 1,308,190 | Bulk |
| 16 Oct | Sell | Blitzquant Research Llp | ₹24.46 Cr | ₹206.91 | 1,182,388 | Bulk |
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Orient Electric reported a strong operational performance for Q2 FY27 with revenue growing 25.2% YoY to Rs 879.3 crore. EBITDA increased by 49.7% YoY to Rs 56.8 crore as EBITDA margins expanded by 106 bps to 6.5%, despite gross margins contracting 251 bps to 29.0%. PAT surged 124.4% YoY to Rs 27.1 crore, supported by operating leverage and cost optimization savings of ~Rs 13 crore under initiative Sanchay. Both segments posted robust revenue gains, with Electrical Consumer Durables (ECD) up 24.9% YoY and Lighting & Switchgear up 25.7% YoY.
- Revenue from operations grew 25.2% YoY to Rs 879.3 crore in Q2 FY27
- EBITDA grew 49.7% YoY to Rs 56.8 crore with margin expanding 106 bps YoY to 6.5%
- PAT surged 124.4% YoY to Rs 27.1 crore compared to Rs 12.1 crore in Q2 FY26
- ECD revenue expanded 24.9% YoY to Rs 550 crore, while Lighting & Switchgear grew 25.7% YoY to Rs 329 crore
- Cost savings program 'Sanchay' delivered ~Rs 13 crore in savings during Q2 FY27
Orient Electric reported a strong Q2 FY27 performance with revenue climbing 25.2% YoY to ₹879.3 crore compared to ₹702.6 crore in Q2 FY26. Profit after tax (PAT) rose 124.4% YoY to ₹27.1 crore, aided by an operating leverage improvement as EBITDA grew 49.7% YoY to ₹56.8 crore. EBITDA margin expanded by 106 bps YoY to 6.5%, despite a 251 bps contraction in gross margin to 29.0%. Growth was driven by premiumisation, with the BLDC fan portfolio expanding by 26% YoY.
- Revenue increased 25.2% YoY to ₹879.3 crore in Q2 FY27
- Net profit surged 124.4% YoY to ₹27.1 crore from ₹12.1 crore
- EBITDA rose 49.7% YoY to ₹56.8 crore, with EBITDA margins expanding 106 bps to 6.5%
- BLDC fan portfolio recorded 26% growth YoY
- H1 FY27 revenue grew 24.3% YoY to ₹1,829.1 crore and PAT reached ₹58.5 crore (up 97.9%)
Orient Electric reported a 25.1% YoY increase in revenue from operations to ₹879.34 crore for Q2 FY27 compared to ₹702.61 crore in Q2 FY26. Net profit for the quarter surged 124.4% YoY to ₹27.06 crore from ₹12.06 crore in the corresponding period last year, driven by broad-based segment growth. Electrical Consumer Durables revenue rose 24.9% YoY to ₹550.50 crore, while Lighting & Switchgear increased 25.7% YoY to ₹328.84 crore. For H1 FY27, net profit stood at ₹58.55 crore, nearly doubling from ₹29.58 crore in H1 FY26.
- Revenue from operations grew 25.1% YoY to ₹879.34 crore in Q2 FY27
- Net profit surged 124.4% YoY to ₹27.06 crore in Q2 FY27 vs ₹12.06 crore in Q2 FY26
- Electrical Consumer Durables segment revenue reached ₹550.50 crore, up 24.9% YoY
- Lighting & switchgear segment revenue expanded 25.7% YoY to ₹328.84 crore
- Diluted EPS for the quarter rose to ₹1.27 compared to ₹0.57 in the year-ago period
Orient Electric Limited announced that CARE Ratings Limited reaffirmed its credit ratings for bank facilities on September 25, 2026. The long-term/short-term bank facilities have been reaffirmed at 'CARE AA; Stable / CARE A1+', while the short-term bank facilities were reaffirmed at 'CARE A1+'. The reaffirmed ratings reflect consistent creditworthiness and backstop the company's relatively conservative balance sheet, which has debt of Rs 93 crore against a net worth of Rs 760 crore (D/E ratio of 0.12).
- CARE Ratings reaffirmed the long-term/short-term bank facilities at CARE AA; Stable / CARE A1+ on September 25, 2026
- Short-term bank facilities reaffirmed at CARE A1+
- Company maintains low leverage with Rs 93 Cr debt against Rs 760 Cr net worth (D/E: 0.12)
Orient Electric Limited has issued a compliance communication to shareholders holding equity shares in physical form to update their KYC, PAN, bank account details, and nominations. This action complies with SEBI's Master Circular dated February 6, 2026, and recent amendments to the Listing Regulations eliminating payable-at-par dividend warrants or cheques. Future dividend payments will only be remitted electronically and will be withheld for folios lacking updated KYC details. This is an administrative compliance procedure and has zero material financial impact on company operations.
- Issued pursuant to SEBI Master Circular dated February 6, 2026, mandating updated KYC for physical share folios
- Electronic payment mandates take effect pursuant to SEBI Listing Regulation amendments dated November 18, 2025
- Payable-at-par warrants and cheques omitted under Regulation 12; future dividends withheld if KYC is incomplete
- Physical shareholders must submit Form ISR-1, Form ISR-2, and Form SH-13 to RTA KFin Technologies Limited
Orient Electric Limited has appointed Ms. Sandhya Biswas as Chief Marketing and Customer Experience Officer and Senior Management Personnel, effective September 14, 2026. The appointment was approved via a board resolution passed by circulation following the Nomination and Remuneration Committee's recommendation. Ms. Biswas brings nearly 20 years of experience across consumer durables and lifestyle brands, including past roles at Airtel, Kohler, and Morphy Richards. This leadership addition aligns with the company's strategic focus on brand premiumization across its fans and lighting segments.
- Appointment of Ms. Sandhya Biswas effective September 14, 2026
- Appointed as Chief Marketing and Customer Experience Officer (Senior Management Personnel)
- Brings close to 20 years of experience across consumer durables, lifestyle, telecom, and home improvement
- Employment term structured as full-time employment
Orient Electric has appointed Mr. Deepankar Bhattacharjee as Head - Internal Audit and Senior Management Personnel, effective September 10, 2026. The appointment was approved via a board resolution by circulation upon recommendation from the Nomination & Remuneration Committee. Mr. Bhattacharjee brings over 15 years of post-qualification Chartered Accountancy experience, previously serving at Indus Towers, Schneider Electric, Apollo Tyres, and Deloitte. This is an administrative management update with no immediate financial impact on the company.
- Appointment of Mr. Deepankar Bhattacharjee effective September 10, 2026
- Designated as Head - Internal Audit and Senior Management Personnel
- Brings 15+ years of post-qualification internal audit and compliance experience
- Previous tenures include Indus Towers, Schneider Electric (over a decade), Apollo Tyres, and Deloitte
Orient Electric Limited has notified stock exchanges of its participation in the Axis Capital Consumer & Technology Conference 2026. The event is scheduled for September 11, 2026, from 11:00 AM to 05:00 PM in an in-person format. Interactions will include both 1x1 and group meetings. The company clarified that no unpublished price sensitive information (UPSI) will be discussed during these interactions.
- Participation scheduled for September 11, 2026
- Meeting window set between 11:00 AM and 05:00 PM
- Format includes 1x1 and group meetings in person
- No unpublished price sensitive information (UPSI) to be shared
Orient Electric Limited has announced a series of 1-on-1 in-person meetings with institutional investors scheduled for August 19, 2026. The participants include prominent entities such as White Oak Capital, Aditya Birla Sunlife Insurance, Baroda PNB Paribas Mutual Fund, and Ambit Asset Management. These meetings are part of the company's regular investor engagement program. The company has explicitly stated that no unpublished price-sensitive information (UPSI) will be shared during these sessions.
- Meetings scheduled for August 19, 2026, between 11:00 AM and 05:00 PM
- Participation from 4 major institutional investment and insurance firms
- Company reported a quarterly revenue of ₹948.25 cr for the period ending March 2026
- Orient Electric maintains a low Debt-to-Equity ratio of 0.12 based on ₹93 cr debt and ₹760 cr net worth
Orient Electric has notified shareholders holding physical securities that their final dividend for FY 2025-26 is being withheld due to incomplete KYC records. This action follows a SEBI mandate requiring PAN, KYC, and nomination details for all electronic payments, effective from April 1, 2024. The dividend of ₹0.75 per share was approved at the AGM on July 22, 2026. Impacted shareholders must update their details with the Registrar, KFin Technologies, to receive their payments electronically.
- Final dividend of ₹0.75 (75%) per equity share of ₹1 each approved for FY 2025-26
- Dividend was approved by members at the Annual General Meeting held on July 22, 2026
- Record date for determining dividend eligibility was July 24, 2026
- Mandatory electronic-only payments for physical holders effective since April 1, 2024, per SEBI circular
- Shareholders must submit Form ISR-1 and ISR-2 to KFin Technologies to release withheld funds
Orient Electric has redesignated Ms. Anika Agarwal as Executive Vice President & BU Head – Lighting, effective August 7, 2026. Previously the Chief Marketing and Customer Experience Officer, Ms. Agarwal has been with the company for approximately 4 years and possesses over 20 years of experience in consumer electricals and telecom. This internal transition places a seasoned marketing leader in charge of the Lighting segment, which is currently a focus for premiumization and professional projects. The segment is critical for the company's 10-15% growth target, despite facing margin pressures from price erosion.
- Ms. Anika Agarwal appointed as BU Head – Lighting effective August 7, 2026
- Brings over 20 years of leadership experience across consumer electricals, insurance, and telecom
- Has been associated with Orient Electric for approximately 4 years
- Lighting segment recorded double-digit growth in professional projects in Q2 FY26
- Company targets an overall growth rate of 10-15% through premiumization
Orient Electric Limited has scheduled a one-on-one virtual meeting with Canara Robeco Mutual Fund for August 12, 2026. This is a routine disclosure under SEBI Regulation 30 regarding institutional engagement. The company has clarified that no unpublished price-sensitive information (UPSI) will be shared during the session. Such meetings are standard practice for listed entities to maintain transparency with institutional shareholders.
- One-on-one virtual meeting scheduled for August 12, 2026, at 04:00 PM IST.
- The meeting participant is Canara Robeco Mutual Fund.
- Company reported a quarterly revenue of ₹948.25 Cr in March 2026.
- Orient Electric maintains a low Debt-to-Equity ratio of 0.12 as per latest context.
Orient Electric delivered a strong Q1 FY27 performance with revenue growing 23.5% YoY, driven by robust summer demand and a 22.7% growth in the ECD segment (₹669 cr). PAT surged 79.7% YoY to ₹31.5 cr, while EBITDA margins expanded by 102 bps to 7% through operating leverage and ₹10 cr in cost savings. Despite gross margin pressure (29.8%) from commodity inflation in copper and aluminum, the company successfully implemented price hikes exceeding 10% in the fans category. The balance sheet remains healthy with a net cash position of ₹133 cr and working capital at 25 days.
- Revenue grew 23.5% YoY, with the Lighting and Switchgear segment specifically rising 25.4%
- PAT increased by 79.7% YoY to ₹31.5 cr, supported by a 79.4% rise in PBT to ₹42.5 cr
- Premium fans now constitute 36% of domestic fan revenue, with the BLDC portfolio growing 36% YoY
- Project Sanchay contributed ₹10 cr in cost savings during the quarter to offset commodity inflation
- Added 3,600 new retailers to the Direct-to-Market (DTM) network to strengthen distribution moats
Orient Electric Limited has reported an improvement in its ESG (Environmental, Social, and Governance) rating assigned by Crisil ESG Ratings & Analytics Ltd. The company's score rose to 62, categorized as "Strong" for FY 2025-26, compared to a score of 58 ("Adequate") in FY 2024-25. This disclosure follows SEBI's regulatory framework for ESG ratings. While not a direct financial performance indicator, the upgrade reflects better sustainability practices which can influence institutional investor sentiment and long-term risk profiles.
- ESG score improved to 62 for the FY 2025-26 period
- Previous score was 58 for the FY 2024-25 period
- The score represents a 4-point improvement in sustainability metrics
- The rating was disclosed on July 27, 2026, following a SEBI circular dated January 30, 2026
Orient Electric Limited has announced the appointment of M/s. Price Waterhouse Chartered Accountants LLP as its new Statutory Auditors for a five-year term. This follows the completion of the mandatory two-term tenure of the outgoing auditors, M/s. S. R. Batliboi & Co. LLP, as required under the Companies Act, 2013. The transition was approved by shareholders during the 10th Annual General Meeting (AGM) held on July 22, 2026. This is a standard regulatory procedure for listed companies to ensure audit independence.
- Appointment of M/s. Price Waterhouse Chartered Accountants LLP for a term of 5 consecutive years.
- Outgoing auditors M/s. S. R. Batliboi & Co. LLP completed their maximum permissible 2 terms.
- Shareholder approval obtained at the 10th Annual General Meeting held on July 22, 2026.
- The change is effective from the conclusion of the 10th AGM.
Financial Performance
Revenue Growth by Segment
Consolidated revenue grew 10% YoY to INR 3,093.68 Cr in FY25. In Q2 FY26, the Lighting and Switchgear segment led growth with an 18.6% YoY increase, while the Electrical Consumer Durables (ECD) segment remained flat due to seasonal softness.
Geographic Revenue Split
The company maintains a pan-India presence with recent expansion of its direct service network into Madhya Pradesh and Chhattisgarh. Specific percentage splits by region are not disclosed in available documents.
Profitability Margins
Gross margin for Q2 FY26 stood at 31.5%, slightly below the long-term guidance of 32% to 34%. FY25 PAT margin was 2.7% (INR 83.21 Cr PAT on INR 3,093.68 Cr revenue), up from 2.6% in FY24.
EBITDA Margin
EBITDA margin improved to 6.6% in FY25, a 145 bps YoY increase, driven by the 'Spark Sanchay' cost optimization initiative and a 41% YoY growth in absolute EBITDA to INR 204 Cr.
Capital Expenditure
Historical CAPEX includes the commissioning of the Hyderabad plant, which expanded the asset base but is currently operating at sub-optimal capacity. PPE stood at INR 354 Cr as of Sep 30, 2025.
Credit Rating & Borrowing
CARE reaffirmed ratings at 'CARE AA; Stable / CARE A1+' in Sep 2025. Borrowings stood at INR 55 Cr as of Sep 30, 2025, with a low debt-equity ratio of 0.08.
Operational Drivers
Raw Materials
Key raw materials include unspecified commodities whose price instability poses a threat to production costs. Specific materials like copper or steel are not explicitly weighted by percentage in the documents.
Capacity Expansion
The Hyderabad plant has been commissioned but is undergoing stabilization; it is expected to improve scale and operating leverage as it ramps up to optimal capacity in the medium term.
Raw Material Costs
Raw material price instability is identified as a notable threat to profitability. Mitigation includes alternative sourcing channels and inventory optimization to capitalize on bulk discounts.
Manufacturing Efficiency
Capacity utilization at the new Hyderabad plant is currently sub-optimal, which has temporarily moderated ROCE to 17.97% in FY25.
Logistics & Distribution
The company is transitioning to a Direct-to-Market (DTM) model, which currently accounts for approximately 30% of revenue compared to 70% from main distributors.
Strategic Growth
Expected Growth Rate
10-15%
Growth Strategy
Growth will be achieved through a premiumization strategy in Lighting and Fans, expansion of the DTM footprint (which gained 60 bps market share in fans YTD), and scaling professional lighting projects in street and facade segments.
Products & Services
Fans, LED bulbs, Battens, Professional Lighting (Street and Facade), Switchgear, and Home Appliances.
Brand Portfolio
Orient Electric
New Products/Services
Focus on premium offerings and professional lighting projects; professional lighting recorded double-digit growth in Q2 FY26.
Market Expansion
Expansion of direct service capabilities into Madhya Pradesh and Chhattisgarh and increasing the DTM footprint in rural markets.
Market Share & Ranking
The company gained 60 bps market share in the fans segment YTD Q2 FY26 and maintains a significant market position in domestic fans.
External Factors
Industry Trends
The industry is seeing a shift toward premiumization and energy-efficient products. Lighting faces structural price erosion, but professional and project-based lighting are growing segments.
Competitive Landscape
Faces stiff competition in the appliances and lighting segments from established players and new entrants in the consumer durables space.
Competitive Moat
Moat is built on the strong brand equity of the C.K. Birla Group, a pan-India distribution network, and a leading market share in the fans category.
Macro Economic Sensitivity
Demand is sensitive to Union Budget income tax relief, which is expected to increase consumer durable spending. GDP growth and inflation also impact rural demand.
Consumer Behavior
Shift toward e-commerce and premium consumer durables; the company is responding with an omni-channel strategy and premium product launches.
Geopolitical Risks
Geopolitical uncertainties are noted as factors that can create imbalances between demand and supply for raw materials.
Regulatory & Governance
Industry Regulations
Operations are affected by BEE rating norms for fans and EPR norms for electronic waste management.
Environmental Compliance
Extended Producer Responsibility (EPR) provisioning impacted FY24 margins by approximately INR 20 Cr.
Taxation Policy Impact
Effective tax rate was approximately 25.8% in FY25 (INR 29.04 Cr tax on INR 112.25 Cr PBT).
Risk Analysis
Key Uncertainties
Stabilization of the Hyderabad plant and continued price erosion in the lighting industry are key risks that could impact ROCE and operating margins.
Geographic Concentration Risk
The company has a pan-India presence, reducing regional concentration risk.
Third Party Dependencies
Dependency on vendors for raw materials is mitigated by establishing alternative sourcing channels.
Technology Obsolescence Risk
The R&D division focuses on product innovation to mitigate the risk of technology obsolescence in the fast-evolving LED and smart appliance markets.
Credit & Counterparty Risk
Trade receivables stood at INR 438 Cr as of Sep 30, 2025, down from INR 513 Cr in March 2025, indicating improved collection efficiency.
