Orient Electric Ltd - ORIENT ELECTRIC Share Price

Summary

Orient Electric Limited became a part of diversified Indian Conglomerate CK Birla Group in year 1954. The Company has establisheditself as a one-stop provider of fans, lighting, home appliances, switchgears and other electrical solutions. The Company was incorporated on 10th October 2016 and became a subsidiary of Orient Paper & Industries Ltd. (OPIL). A Scheme of Arrangement had been filed with National Company Law Tribunal to demerge the Consumer Electric Business of the Holding Company (OPIL) by transferring the same on a going concern basis to the Company w.e.f. 1st March 2017, which has subsequently been approved by the National Company Law Tribunal. Pursuant to Scheme of Arrangement, shares held by Demerged Company stands cancelled and post demerger, the Company ceased to be a subsidiary of OPIL.The Company is engaged in manufacture/purchase and sale of Electrical Consumer Durables, Lighting & Switchgear products. Presently, it has manufacturing facilities at Faridabad, Noida and Kolkata. In FY 2019-2020, the Company launched the new Inverter i-Series in fans and entered into faade lighting. It also launched energy-saving inverter air-coolers in March 2020. It launched 4 products in air cooler category such as, Ultimo, Knight Desert coolers, metal coolers and inverter air coolers. A new range of Glassline Water Heaters with connected features, was introduced in the year. Further, Gas water heaters were also launched. A new Breakfast series of Kitchen appliances, like... Read More