Orient Electric Limited has appointed M/s. Price Waterhouse Chartered Accountants LLP as its statutory auditors for a term of five years, effective from the conclusion of the 10th Annual General Meeting held on July 22, 2026. This transition follows the completion of the permissible two terms by the previous auditors, M/s. S. R. Batliboi & Co. LLP, under the Companies Act, 2013.

The decision was ratified by the shareholders during the 10th AGM. The new auditors will oversee the company's financial reporting and compliance for the next five years.

The disclosure was made to the National Stock Exchange of India Limited and BSE Limited in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Orient Electric reported an 80% year-on-year rise in net profit to ₹31.49 crore for the quarter ended June 30, 2026, driven by a 23.5% increase in revenue from operations. The Electrical Consumer Durables (ECD) segment grew by 22.7%, while Lighting and Switchgear revenue increased by 25.4%, with the fans business posting strong growth during the summer season. The company reported EBITDA margins of 7.0%, an expansion of 102 basis points year-on-year, supported by disciplined cost management and an improved portfolio mix amidst continued commodity price pressures. The board approved the unaudited financial results for Q1FY27 at a meeting held on July 22, 2026.

Revenue from operations stood at ₹949.8 crore, up from ₹769.1 crore in the same period last year. Total income for the quarter was ₹954.12 crore. The company's profit before tax stood at ₹42.5 crore, compared to ₹23.7 crore in the corresponding quarter of the previous year. EBITDA improved to ₹66.6 crore from ₹46.1 crore in the year-ago period. Basic earnings per share increased to ₹1.48 from ₹0.82 in Q1FY26. The financial results were subjected to a limited review by the statutory auditors, S. R. Batliboi & Co. LLP.

Financial Performance

The table below summarises the key financial metrics for the quarter:

Segment Performance

Orient Electric operates through two reportable segments: Electrical Consumer Durables and Lighting & Switchgear. Revenue from Electrical Consumer Durables grew to ₹668.74 crore from ₹545.00 crore, while Lighting & Switchgear revenue increased to ₹281.02 crore from ₹224.08 crore in the prior year quarter. The BLDC fan portfolio recorded a robust 36% revenue growth, reflecting continued demand for premium and energy-efficient products. The board meeting commenced at 12:20 p.m. and concluded at 1:25 p.m. on July 22, 2026. The results were reviewed by the Audit Committee and taken on record by the Board.