Nirmal Bang
Healthy revenue growth and gross margin expansion BUY Orient Electric posted healthy revenue growth of 16.5% YoY at Rs4.4bn in 2QFY20, in line with our estimate. Electrical Consumer Durables (ECD) segment's revenue rose 16% YoY to Rs2.8bn (65% of total sales), led by high growth in air cooler, water heater and kitchen appliances while fans also reported double digit growth. Lighting and Switchgears (L&S;) segment's sales grew 17% YoY to Rs1.5bn (35% of total sales), aided by healthy growth in consumer luminaries and street lighting. Gross margin was up 220bps YoY and 140bps QoQ at 34.2% led by favourable product mix due to premiumization. EBITDA jumped 28% YoY to Rs219mn, leading to an...
Orient Green Power Company Ltd. high volume past week with price gain of 17.14.