ICICI Securities keeps Orient Electric at Buy with INR 240 target
ICICI Securities sees Orient Electric's Q2FY27 growth driven by premium products and wider distribution, and lifts its DCF-based target to INR 240.
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what happened
According to moneycontrol.com, which cites an ICICI Securities research note, Orient Electric delivered strong Q2FY27 results, supported by premium products and broad growth across segments. Its fans kept outperforming the industry on market share gains, a richer premium mix and successful launches.
New products accounted for over 30% of fan revenue, BLDC fans grew 26% year on year, and premium models make up about 40% of the fan portfolio. Project Sanchay delivered cost savings of INR 130 mn in the same quarter. The company raised prices by 3-6% across categories in Q2FY27 and by about 3% in October 2026, but the broker believes this has not fully offset inflationary pressures.
The broker maintains its BUY rating and raised its DCF-based target to INR 240 from INR 220, implying 30x FY28E EPS. Its model projects revenue and PAT CAGRs of 20.0% and 43.4% over FY26-28E, with RoE expected to stay above 14%.
why it matters
For investors, the note points to premiumisation and distribution as the main growth drivers, while flagging that price increases may lag cost inflation. Such ratings reflect one brokerage's view and do not guarantee future performance.
tags
instruments
sources
- Buy Orient Electric; target of Rs 240: ICICI Securities — moneycontrol.com, 16 October 2026 at 08:59 UTC
- Buy CEAT: target of Rs 4500: ICICI Securities — moneycontrol.com, 16 October 2026 at 09:09 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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