The said land parcels were held as assets for disposal.

This sale transaction is not, in any manner, a related party transaction.

Orient Electric is primarily engaged in manufacture/purchase and sale of electrical consumer durables, lighting & switchgear products.

The company reported 49.53% decline in net profit to Rs 24.62 crore on a 12.67% fall in sales to Rs 657.91 crore in Q4 FY23 over Q4 FY22.

The scrip rose 0.39% to currently trade at Rs 231.40 on the BSE.