Announcement • Aug 04
Orient Bell Limited to Report Q1, 2027 Results on Aug 11, 2026 Orient Bell Limited announced that they will report Q1, 2027 results on Aug 11, 2026 Reported Earnings • Jul 19
Full year 2026 earnings released: EPS: ₹8.46 (vs ₹1.95 in FY 2025) Full year 2026 results: EPS: ₹8.46 (up from ₹1.95 in FY 2025). Revenue: ₹6.91b (up 3.2% from FY 2025). Net income: ₹124.3m (up 337% from FY 2025). Profit margin: 1.8% (up from 0.4% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Declared Dividend • Jul 18
Dividend increased to ₹1.00 Dividend of ₹1.00 is 100% higher than last year. Ex-date: 24th July 2026 Payment date: 10th September 2026 Dividend yield will be 0.3%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (12% earnings payout ratio) and cash flows (3% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 9.6% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 16
Orient Bell Limited, Annual General Meeting, Aug 11, 2026 Orient Bell Limited, Annual General Meeting, Aug 11, 2026, at 10:30 Indian Standard Time. Announcement • May 12
Orient Bell Limited to Report Q4, 2026 Results on May 19, 2026 Orient Bell Limited announced that they will report Q4, 2026 results on May 19, 2026 New Risk • Mar 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 29% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (₹4.08b market cap, or US$44.2m). Reported Earnings • Jan 28
Third quarter 2026 earnings released: EPS: ₹2.31 (vs ₹0.66 in 3Q 2025) Third quarter 2026 results: EPS: ₹2.31 (up from ₹0.66 in 3Q 2025). Revenue: ₹1.69b (up 3.6% from 3Q 2025). Net income: ₹33.9m (up 250% from 3Q 2025). Profit margin: 2.0% (up from 0.6% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. Announcement • Jan 19
Orient Bell Limited to Report Q3, 2026 Results on Jan 27, 2026 Orient Bell Limited announced that they will report Q3, 2026 results on Jan 27, 2026 New Risk • Dec 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (₹4.61b market cap, or US$51.2m). Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹313, the stock trades at a trailing P/E ratio of 70.6x. Average trailing P/E is 27x in the Building industry in India. Total loss to shareholders of 41% over the past three years. Reported Earnings • Nov 12
Second quarter 2026 earnings released: EPS: ₹2.17 (vs ₹0.66 in 2Q 2025) Second quarter 2026 results: EPS: ₹2.17 (up from ₹0.66 in 2Q 2025). Revenue: ₹1.66b (up 3.3% from 2Q 2025). Net income: ₹31.9m (up 229% from 2Q 2025). Profit margin: 1.9% (up from 0.6% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Announcement • Nov 04
Orient Bell Limited to Report Q2, 2026 Results on Nov 11, 2025 Orient Bell Limited announced that they will report Q2, 2026 results on Nov 11, 2025 Announcement • Jul 29
Orient Bell Limited to Report Q1, 2026 Results on Aug 05, 2025 Orient Bell Limited announced that they will report Q1, 2026 results on Aug 05, 2025 New Risk • Jul 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 8.1% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.1% average weekly change). Earnings have declined by 6.0% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₹4.46b market cap, or US$51.6m). Reported Earnings • Jul 12
Full year 2025 earnings released: EPS: ₹1.84 (vs ₹0.63 in FY 2024) Full year 2025 results: EPS: ₹1.84 (up from ₹0.63 in FY 2024). Revenue: ₹6.70b (flat on FY 2024). Net income: ₹28.4m (up 212% from FY 2024). Profit margin: 0.4% (up from 0.1% in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Declared Dividend • Jul 10
Dividend of ₹0.50 announced Dividend of ₹0.50 is the same as last year. Ex-date: 21st July 2025 Payment date: 4th September 2025 Dividend yield will be 0.2%, which is lower than the industry average of 0.4%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (3% cash payout ratio). The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 70% to shift the payout ratio to a potentially unsustainable range, which is more than the 17% EPS decline seen over the last 5 years. Announcement • Jul 08
Orient Bell Limited, Annual General Meeting, Aug 05, 2025 Orient Bell Limited, Annual General Meeting, Aug 05, 2025, at 10:30 Indian Standard Time. New Risk • Jun 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 6.0% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Market cap is less than US$100m (₹4.40b market cap, or US$51.3m). Reported Earnings • May 23
Full year 2025 earnings released: EPS: ₹1.84 (vs ₹0.63 in FY 2024) Full year 2025 results: EPS: ₹1.84 (up from ₹0.63 in FY 2024). Revenue: ₹6.72b (flat on FY 2024). Net income: ₹28.4m (up 212% from FY 2024). Profit margin: 0.4% (up from 0.1% in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Announcement • May 22
Orient Bell Limited Recommends Dividend for the Financial Year Ended March 31, 2025 Orient Bell Limited at its Board of Directors meeting held on 22nd May, 2025, Approved & recommended the dividend of THB 0.50 (fifty paisa) per equity share (face value INR 10/- per equity share) for the financial year ended March 31, 2025, subject to the approval of shareholders at forthcoming Annual General Meeting. The dividend, if declared, shall be paid to the shareholders, subject to deduction of tax at source at applicable rates, within thirty days from the date of declaration. Announcement • May 16
Orient Bell Limited to Report Q4, 2025 Results on May 22, 2025 Orient Bell Limited announced that they will report Q4, 2025 results on May 22, 2025 Valuation Update With 7 Day Price Move • May 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹266, the stock trades at a trailing P/E ratio of 77.4x. Average trailing P/E is 29x in the Building industry in India. Total loss to shareholders of 35% over the past three years. Announcement • Apr 17
Orient Bell Limited Announces Resignation of Munish Tandon, Chief Sales Officer, Effective April 16, 2025 Orient Bell Limited announced that Mr. Munish Tandon, Chief Sales Officer of the Company has tendered his resignation from employment on 16 April, 2025 and expressed not to continue further due to unavoidable circumstances. The said resignation is effective immediately i.e. from April 16, 2025. Recent Insider Transactions • Mar 19
Executive Chairman recently bought ₹245k worth of stock On the 13th of March, Mahendra Daga bought around 1k shares on-market at roughly ₹245 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹3.3m. Mahendra has been a buyer over the last 12 months, purchasing a net total of ₹17m worth in shares. Recent Insider Transactions • Feb 08
Executive Chairman recently bought ₹3.3m worth of stock On the 5th of February, Mahendra Daga bought around 12k shares on-market at roughly ₹276 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹4.9m. Mahendra has been a buyer over the last 12 months, purchasing a net total of ₹17m worth in shares. Reported Earnings • Jan 29
Third quarter 2025 earnings released: EPS: ₹0.66 (vs ₹2.31 loss in 3Q 2024) Third quarter 2025 results: EPS: ₹0.66 (up from ₹2.31 loss in 3Q 2024). Revenue: ₹1.63b (flat on 3Q 2024). Net income: ₹9.70m (up ₹43.3m from 3Q 2024). Profit margin: 0.6% (up from net loss in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Announcement • Jan 20
Orient Bell Limited to Report Q3, 2025 Results on Jan 25, 2025 Orient Bell Limited announced that they will report Q3, 2025 results at 12:15 PM, Indian Standard Time on Jan 25, 2025 Announcement • Jan 14
Orient Bell Limited Appoints Director of the Company in the Category of Non-Executive Non Independent Director Orient Bell Limited appointed Bindiya Shyam Agrawal as Director of the Company in the category of Non-executive Non Independent Director. Recent Insider Transactions • Jan 02
Chief Operations Officer recently sold ₹2.5m worth of stock On the 27th of December, Anil Agarwal sold around 8k shares on-market at roughly ₹322 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Anil's only on-market trade for the last 12 months. Recent Insider Transactions • Nov 20
Executive Chairman recently bought ₹4.9m worth of stock On the 13th of November, Mahendra Daga bought around 16k shares on-market at roughly ₹315 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Mahendra has been a buyer over the last 12 months, purchasing a net total of ₹12m worth in shares. Announcement • Nov 16
Orient Bell Limited Announces Chief Sales Officer Changes Orient Bell Limited announced that Mr. Pinaki Nandy, Chief Sales Officer of the Company has tendered resignation from the employment of the Company due to his personal reasons. Further, on 15th November, 2024, the Nomination and Remuneration Committee and the Board of Directors of the Company have approved the appointment of Mr. Munish Tandon as a Chief Sales Officer of the Company with immediate effect i.e. from 15th November, 2024. Mr. Munish Tandon has over 30 years of experience in Sales and Marketing in the building materials industry handling multiple product lines across the country where he has demonstrated a remarkable ability to transform businesses through his expertise in channel management, B2B sales, credit management, and product development. His leadership has been instrumental in building strong teams, launching successful brands, and fostering relationships with key stakeholders in both the private and government sectors. Mr. Munish has held senior leadership roles at Brilloca Limited, Simero Vitrified, Somany Ceramics, Akzo Nobel, and Snowcem India Ltd., where he delivered significant results in profitability, market share expansion, and operational excellence. His last assignment was Jubilant Agri & Consumer Products Limited, where he was heading the Sales & Marketing function. Announcement • Oct 28
Orient Bell Limited Appoints Bindiya Shyam Agrawal as Additional Director Orient Bell Limited announced that at the board meeting held on October 28, 2024, appointed Ms. Bindiya Shyam Agrawal as an Additional Director of the Company for a period from 28th October, 2024 up to the date of next AGM of the Company to be held in the year 2025 in the category of Non- Executive Non-Independent Director and if appointed as a regular director in the next AGM, for a period up to 27th October, 2025. Ms. Bindiya holds an MBA from Haas School of Business, UC Berkeley. She brings 16+ years of rich and diversified experience across industries, held varied leadership roles and worked across multiple leading organizations such as McKinsey & Company, Myntra &
Jabong, Lodha Ventures, and Cactus Venture Partners (CVP), solving a variety of problems. At present she is a Partner (external consultant) at SKC World, focusing on Clarow - a suit of SKC's Enterprise Building Products. Her expertise lies in leading business turnarounds, transformational growth, strategy initiatives and running CEO's office. One of her key strengths is finding solutions to complex problems through inner clarity. She enjoys turning around problem areas into opportunities and galvanizing teams to punch much above their weight. Her collaboration style is open, engaging, and focused on impact. She held the position of a Director on the Board of Sakthi Auto Component Limited, appointed by AAPICO Hitech Public Company Limited, a Thailand based business conglomerate, between Jan'22 and Dec'23, the period when AAPICO held majority shareholding in the Company. Ms. Bindiya is a self-confessed seeker and a deep meditator. Announcement • Oct 21
Orient Bell Limited to Report Q2, 2025 Results on Oct 28, 2024 Orient Bell Limited announced that they will report Q2, 2025 results on Oct 28, 2024 Announcement • Jul 29
Orient Bell Limited to Report Q1, 2025 Results on Aug 06, 2024 Orient Bell Limited announced that they will report Q1, 2025 results on Aug 06, 2024 Upcoming Dividend • Jul 25
Upcoming dividend of ₹0.50 per share Eligible shareholders must have bought the stock before 30 July 2024. Payment date: 05 September 2024. Payout ratio is on the higher end at 80% but the company is not cash flow positive. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (0.4%). Reported Earnings • Jul 17
Full year 2024 earnings released: EPS: ₹0.63 (vs ₹15.56 in FY 2023) Full year 2024 results: EPS: ₹0.63 (down from ₹15.56 in FY 2023). Revenue: ₹6.74b (down 4.3% from FY 2023). Net income: ₹9.12m (down 96% from FY 2023). Profit margin: 0.1% (down from 3.2% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Declared Dividend • Jul 11
Dividend reduced to ₹0.50 Dividend of ₹0.50 is 50% lower than last year. Ex-date: 30th July 2024 Payment date: 5th September 2024 Dividend yield will be 0.1%, which is lower than the industry average of 0.4%. Sustainability & Growth Dividend is covered by earnings (79% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 12% to shift the payout ratio to a potentially unsustainable range, which is less than the 37% EPS decline seen over the last 5 years. Announcement • Jul 10
Orient Bell Limited, Annual General Meeting, Aug 06, 2024 Orient Bell Limited, Annual General Meeting, Aug 06, 2024, at 10:30 Indian Standard Time. Reported Earnings • May 09
Full year 2024 earnings released: EPS: ₹0.63 (vs ₹15.56 in FY 2023) Full year 2024 results: EPS: ₹0.63 (down from ₹15.56 in FY 2023). Revenue: ₹6.77b (down 4.0% from FY 2023). Net income: ₹9.20m (down 96% from FY 2023). Profit margin: 0.1% (down from 3.2% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • May 08
Orient Bell Limited Recommends Dividend for the Financial Year Ended 31 March, 2024 Orient Bell Limited at its board meeting held on May 7, 2024, approved & recommended dividend of INR 0.5 per equity share (face value of INR 10 each) for the financial year ended 31 March, 2024 subject to the approval of shareholders at forthcoming Annual General Meeting. The dividend, if declared, shall be paid to the shareholders, subject to deduction of tax at source at applicable rates, within thirty days from the date of declaration. Recent Insider Transactions • Mar 06
Executive Chairman recently bought ₹211k worth of stock On the 1st of March, Mahendra Daga bought around 575 shares on-market at roughly ₹367 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₹236k. Mahendra has been a buyer over the last 12 months, purchasing a net total of ₹21m worth in shares. Announcement • Mar 05
Orient Bell Limited Announces Executive Changes Orient Bell Limited announced that Mr. Ajay Srivastava, Chief Human Resources Officer of the Company has vide his letter dated 04th March, 2024 tendered his resignation from the employment of the Company to take a break due to his health/personal reasons. The effective date of resignation of Mr. Ajay Srivastava shall be from such date as may be mutually agreed between the Company and Mr. Ajay Srivastava. Further, on Monday, 04th March, 2024, the Nomination and Remuneration Committee and the Board of Directors of the Company have approved the appointment of Mr. Sumit Saluja as a Chief People Officer of the Company with immediate effect i.e. from 04th March, 2024. Mr. Sumit Saluja brings over two decades of experience as a HR business partner. He led the All-India HR function and also helped in setting up a new business of diagnostics. He has worked with multinational Pharmaceutical Companies like Dr, Reddy's Laboratories, Lupin & Cadila Pharmaceuticals prior to joining Orient Bell Limited. Mr. Sumit completed his Bachelor of Pharmacy from the University of Rajasthan and an Executive MBA from Narsee Monjee Institute of Management Studies, Mumbai. Reported Earnings • Jan 24
Third quarter 2024 earnings released: ₹2.31 loss per share (vs ₹2.18 profit in 3Q 2023) Third quarter 2024 results: ₹2.31 loss per share (down from ₹2.18 profit in 3Q 2023). Revenue: ₹1.62b (down 8.5% from 3Q 2023). Net loss: ₹33.6m (down 207% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 16
Orient Bell Limited to Report Q3, 2024 Results on Jan 23, 2024 Orient Bell Limited announced that they will report Q3, 2024 results on Jan 23, 2024 Recent Insider Transactions • Dec 23
Executive MD & Executive Director recently bought ₹236k worth of stock On the 20th of December, Madhur Daga bought around 575 shares on-market at roughly ₹410 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₹360k. Insiders have collectively bought ₹15m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 25
Chief Executive Officer recently sold ₹1.5m worth of stock On the 23rd of November, Aditya Gupta sold around 4k shares on-market at roughly ₹408 per share. This transaction amounted to 7.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Aditya has been a net seller over the last 12 months, reducing personal holdings by ₹3.4m. Reported Earnings • Nov 05
Second quarter 2024 earnings released: EPS: ₹0.48 (vs ₹4.15 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.48 (down from ₹4.15 in 2Q 2023). Revenue: ₹1.60b (down 7.7% from 2Q 2023). Net income: ₹6.90m (down 89% from 2Q 2023). Profit margin: 0.4% (down from 3.5% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 26
Orient Bell Limited to Report Q2, 2024 Results on Nov 02, 2023 Orient Bell Limited announced that they will report Q2, 2024 results on Nov 02, 2023 Recent Insider Transactions • Sep 30
Executive Chairman recently bought ₹360k worth of stock On the 27th of September, Mahendra Daga bought around 775 shares on-market at roughly ₹465 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Mahendra has been a buyer over the last 12 months, purchasing a net total of ₹24m worth in shares. Recent Insider Transactions • Aug 31
Chief Executive Officer recently sold ₹1.3m worth of stock On the 28th of August, Aditya Gupta sold around 3k shares on-market at roughly ₹475 per share. This transaction amounted to 5.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Aditya's only on-market trade for the last 12 months. Announcement • Jul 27
Orient Bell Limited Approves Dividend for the Financial Year Ended 31 March, 2023 Orient Bell Limited approved dividend Of INR 1 per equity share (10% of the face value of INR 10/- each) for the financial year ended 31st March, 2023 at its annual general meeting held on 25 July, 2023. Upcoming Dividend • Jul 11
Upcoming dividend of ₹1.00 per share at 0.2% yield Eligible shareholders must have bought the stock before 18 July 2023. Payment date: 24 August 2023. Payout ratio is a comfortable 6.4% but the company is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.5%). Reported Earnings • Jul 07
Full year 2023 earnings released: EPS: ₹15.56 (vs ₹22.36 in FY 2022) Full year 2023 results: EPS: ₹15.56 (down from ₹22.36 in FY 2022). Revenue: ₹7.05b (up 7.8% from FY 2022). Net income: ₹224.9m (down 30% from FY 2022). Profit margin: 3.2% (down from 4.9% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has increased by 88% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 06
Orient Bell Limited Proposes Dividend for the Financial Year Ended 31 March, 2023 Orient Bell Limited proposed dividend Of INR 1 per equity share (10% of the face value of INR 10/- each) for the financial year ended 31st March, 2023 at its annual general meeting to be held on 25 July, 2023. Announcement • May 25
Orient Bell Limited, Annual General Meeting, Jul 25, 2023 Orient Bell Limited, Annual General Meeting, Jul 25, 2023, at 11:00 Indian Standard Time. Announcement • May 24
Orient Bell Limited Recommends Dividend for the Financial Year Ended March 31, 2023 Orient Bell Limited approved & recommended the dividend of INR 1/- per equity share (face value INR 10/- per equity share) for the financial year ended March 31, 2023, subject to the approval of shareholders at forthcoming Annual General Meeting. The dividend, if declared, shall be paid to the shareholders, subject to deduction of tax at source at applicable rates, within thirty days from the date of declaration. Reported Earnings • May 24
Full year 2023 earnings released: EPS: ₹15.56 (vs ₹22.36 in FY 2022) Full year 2023 results: EPS: ₹15.56 (down from ₹22.36 in FY 2022). Revenue: ₹7.10b (up 8.6% from FY 2022). Net income: ₹224.8m (down 30% from FY 2022). Profit margin: 3.2% (down from 4.9% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has increased by 118% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹626, the stock trades at a trailing P/E ratio of 27.7x. Average trailing P/E is 29x in the Building industry in India. Total returns to shareholders of 1,080% over the past three years. Recent Insider Transactions • Mar 31
Executive Chairman recently bought ₹20m worth of stock On the 29th of March, Mahendra Daga bought around 41k shares on-market at roughly ₹500 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Mahendra has been a buyer over the last 12 months, purchasing a net total of ₹32m worth in shares. Reported Earnings • Feb 03
Third quarter 2023 earnings released: EPS: ₹2.18 (vs ₹8.41 in 3Q 2022) Third quarter 2023 results: EPS: ₹2.18 (down from ₹8.41 in 3Q 2022). Revenue: ₹1.77b (down 3.6% from 3Q 2022). Net income: ₹31.4m (down 74% from 3Q 2022). Profit margin: 1.8% (down from 6.6% in 3Q 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 63% per year, which means it is significantly lagging earnings growth. Announcement • Jan 25
Orient Bell Limited to Report Q3, 2023 Results on Jan 31, 2023 Orient Bell Limited announced that they will report Q3, 2023 results on Jan 31, 2023 Recent Insider Transactions • Dec 19
Executive MD & Executive Director recently bought ₹677k worth of stock On the 16th of December, Madhur Daga bought around 1k shares on-market at roughly ₹541 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₹1.8m. Insiders have collectively bought ₹16m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Dec 08
Executive Chairman recently bought ₹388k worth of stock On the 6th of December, Mahendra Daga bought around 702 shares on-market at roughly ₹552 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹1.8m. Mahendra has been a buyer over the last 12 months, purchasing a net total of ₹14m worth in shares. Recent Insider Transactions • Nov 25
Executive Chairman recently bought ₹407k worth of stock On the 23rd of November, Mahendra Daga bought around 800 shares on-market at roughly ₹509 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹1.8m. Mahendra has been a buyer over the last 12 months, purchasing a net total of ₹14m worth in shares. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 5 highly experienced directors. Independent Non-Executive Director Sameer Kamboj was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 09
Second quarter 2023 earnings released: EPS: ₹4.15 (vs ₹6.04 in 2Q 2022) Second quarter 2023 results: EPS: ₹4.15 (down from ₹6.04 in 2Q 2022). Revenue: ₹1.75b (up 4.2% from 2Q 2022). Net income: ₹59.9m (down 31% from 2Q 2022). Profit margin: 3.4% (down from 5.2% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 70% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Sep 22
Executive Chairman recently bought ₹954k worth of stock On the 19th of September, Mahendra Daga bought around 2k shares on-market at roughly ₹624 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Mahendra has been a buyer over the last 12 months, purchasing a net total of ₹25m worth in shares. Upcoming Dividend • Jul 06
Upcoming dividend of ₹1.00 per share Eligible shareholders must have bought the stock before 13 July 2022. Payment date: 20 August 2022. Payout ratio is a comfortable 4.5% and this is well supported by cash flows. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.8%). Lower than average of industry peers (0.6%). Reported Earnings • Jul 01
Full year 2022 earnings released: EPS: ₹22.36 (vs ₹5.36 in FY 2021) Full year 2022 results: EPS: ₹22.36 (up from ₹5.36 in FY 2021). Revenue: ₹6.54b (up 30% from FY 2021). Net income: ₹321.9m (up 319% from FY 2021). Profit margin: 4.9% (up from 1.5% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has increased by 72% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 21% share price gain to ₹661, the stock trades at a trailing P/E ratio of 26x. Average trailing P/E is 22x in the Building industry in India. Total returns to shareholders of 379% over the past three years. Recent Insider Transactions • Jun 22
Executive Chairman recently bought ₹738k worth of stock On the 17th of June, Mahendra Daga bought around 1k shares on-market at roughly ₹588 per share. In the last 3 months, they made an even bigger purchase worth ₹2.0m. Mahendra has been a buyer over the last 12 months, purchasing a net total of ₹23m worth in shares. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improved over the past week After last week's 16% share price gain to ₹666, the stock trades at a trailing P/E ratio of 29.8x. Average trailing P/E is 24x in the Building industry in India. Total returns to shareholders of 365% over the past three years. Reported Earnings • May 22
Full year 2022 earnings released: EPS: ₹22.36 (vs ₹5.36 in FY 2021) Full year 2022 results: EPS: ₹22.36 (up from ₹5.36 in FY 2021). Revenue: ₹6.54b (up 30% from FY 2021). Net income: ₹321.9m (up 319% from FY 2021). Profit margin: 4.9% (up from 1.5% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 61% per year whereas the company’s share price has increased by 56% per year. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹407, the stock trades at a trailing P/E ratio of 25.4x. Average trailing P/E is 25x in the Building industry in India. Total returns to shareholders of 186% over the past three years. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Sameer Kamboj was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Apr 02
Executive Chairman recently bought ₹2.0m worth of stock On the 28th of March, Mahendra Daga bought around 4k shares on-market at roughly ₹509 per share. This was the largest purchase by an insider in the last 3 months. Mahendra has been a buyer over the last 12 months, purchasing a net total of ₹23m worth in shares. Reported Earnings • Jan 30
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹8.41 (up from ₹5.26 in 3Q 2021). Revenue: ₹1.84b (up 24% from 3Q 2021). Net income: ₹121.0m (up 61% from 3Q 2021). Profit margin: 6.6% (up from 5.1% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improved over the past week After last week's 19% share price gain to ₹451, the stock trades at a trailing P/E ratio of 28.4x. Average trailing P/E is 28x in the Building industry in India. Total returns to shareholders of 179% over the past three years. Recent Insider Transactions • Jan 05
Executive Chairman recently bought ₹377k worth of stock On the 31st of December, Mahendra Daga bought around 1k shares on-market at roughly ₹343 per share. In the last 3 months, they made an even bigger purchase worth ₹8.5m. Mahendra has been a buyer over the last 12 months, purchasing a net total of ₹24m worth in shares. Recent Insider Transactions • Dec 21
Executive MD & Executive Director recently bought ₹323k worth of stock On the 17th of December, Madhur Daga bought around 915 shares on-market at roughly ₹353 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₹8.5m. Insiders have collectively bought ₹25m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Dec 14
Executive Chairman recently bought ₹328k worth of stock On the 10th of December, Mahendra Daga bought around 913 shares on-market at roughly ₹360 per share. In the last 3 months, they made an even bigger purchase worth ₹8.5m. Mahendra has been a buyer over the last 12 months, purchasing a net total of ₹23m worth in shares. 
