Anand Rathi Recommends 'Buy' for Orient Electric, Sets Target at Rs 230

• Anand Rathi's research report suggests a 'Buy' rating for Orient Electric with a target price of Rs 230.
• Orient Electric achieved a 12% EBITDA beat, driven by strong ECD growth, particularly in heating products and fans.
• The company continues to gain market share in fans and lighting through premiumisation and a DTM strategy.
• Anand Rathi forecasts a 25.4% PAT CAGR for FY25–28, supported by margin expansion due to a richer mix and improved operating leverage.
• The stock trades near -2SD valuation limits, offering downside protection, with strong brand equity and improved strategies expected to sustain growth.

Why It Matters: Anand Rathi recommends buying Orient Electric, projecting significant growth and margin expansion with a Rs 230 target.