gretel
15 Mar 2017
PEWT positive about OPG On Monday Premier Energy & Water Trust PLC reported their results. OPG is their largest holding at 8% of their total investments (£4.475m valuation), and they had this to say:[link] largest investment, OPG Power Ventures (“OPG”
, performed exceptionally well operationally, fully commissioning its second coal fired power station in Gujarat. As such interim results for the six months to September were strong, with a 40.8% increase in earnings, together with the declaration of a maiden dividend. OPG’s next investments will be in solar power, which should provide highly visible long term earnings. Despite the company’s positive development, its share price fell by 24.7% over the year."
Tax Inspector
31 Jan 2017
Oversold This is now in oversold territory so just topped up. May have got this wrong given the sentiment towards OPG at present but prepared to take the gamble.DYOR
jezza51
26 Jan 2017
Re: Another Surprise! No real surprise here - it is an Indian company - so economy with truth is expected. Maybe a bounce from here which will be chance to get out.
gallant02
26 Jan 2017
Re: Another Surprise! I agree that they have never been great at communication, but I can be forgiving when the impact is mainly due to Mother Nature and unexpected death of a states person...We won't wait too long for that EBITDA rise and see the present sp as a purchase opportunity.
Tax Inspector
26 Jan 2017
Another Surprise! The price reduction this morning is an over reaction as yesterday's share price hadn't factored in the expected growth associated with load factors. I estimate that the reduced load factor in Chennai will mean revenues for H2 will remain flat (i.e. full year revenues of circa £220m) and so the share price shouldn't really have moved.It has moved and that is because we've been hit with yet another surprise. For example;- We weren't warned that the 5/10,000 rupee ban may have an impact on demand when the last results were published, even though the government had made the announcement one month earlier- No update on the recent cyclone and how the business was coping- We weren't informed of the agreement with the German company relating to the solar venture. It came out in various press articles- No indication that we may seek a dual listing (which may just be a rumour)The company needs to grow up and realise that surprises like today have negative consequences for the company's owners (i.e. us, the shareholders). I repeat what I said before, the share price is unlikely to move beyond 70p until we hear positive news on the financials i.e. significant EBITDA improvement. Given today's announcement we could be waiting a long time!
Twistednik
24 Jan 2017
India IPO [link] May increase interest in the shares if dual listed in India.
Tax Inspector
03 Jan 2017
Off Topic - Burford Capital Re: my post on 28th SeptemberSeems like Burford Capital can do no wrong. Those of you who bought the shares on 28th September will have seen a 50% rise to date whilst my holding has now quadrupled in value in less than 2 years.Might be worth hedging your bets as I can't see OPG moving beyond 70p without some significant positive news.Sorry for the blatant ramp but I'm sure you won't mind receiving a belated Xmas present !!Please DYOR
Pyttius
08 Dec 2016
Dividends as scrip Half-yearly report states dividends can be taken as scrip. A nice touch which can turn a modest dividend into a reasonable one when the SP is rising and you can sell the scrip issue in a few months' time.
thirty fifty twenty
06 Dec 2016
analysis of results at 67p IMHO results were OK.There is a reason the share price appears cheap because there are risks and a lot of debt. but if they survive then debt is good thing for equity shareholders,and now that big projects up and running they will always have enough cash flow to 'survivie' thus to me it's ultimately less risky than last year.yes coal price a worry, and the risk of more flooding always there....but glass half full they made these profits despite these events. Yes debt is expensive but that's India. IRR on solar is over 20% so 11% interest is ok.as India grows interest rates will reduce on a 10 year view so this is all geared benefit to shareholders in time. I'm happy to top up on dips with spare cash - will see 100p with 3 years albeit a bumpy ride in between! !All IMHO, DYOR + BoLOPG is in my portfolio
gallant02
06 Dec 2016
City broker pleased with interim results Nuff said..."Cantor Fitzgerald analyst Adam Forsyth spoke positively about India focussed OPG Power Ventures Plc (LON:OPG) following the company’s interim results statement on Tuesday. “We’re seeing a continuation of the ramp up of new capacity,” Forsyth said. “The company has completed the final stage of its Chennai project and brought up fully into operations its Gujarat project. Both of these are now contributing, and I think now from these interim results we’re seeing these running up to quite good operational output.” He also highlights the positive pricing factors in India, where there’s a deficit of power, as well as the company’s expansion and diversification strategies including a move for renewable energy sources. Overall, the analyst rates OPG as a ‘buy’ recommendation, and whilst his price target is presently under review he expects to come back with a strong price target. “We think the wider opportunity in the Indian marketplace means it is a great place for an independent power company, but obviously the ability to execute is very key and I think that the track record of OPG speaks for itself.”
gallant02
06 Dec 2016
Re: Latest Results A rather "glass half-empty" review TI...?EBITDA growth reflects a strong rise in underlying cash generation (more relevant for a capital intensive business) and debt in INR terms actually reduced - revenue and interest charges are in INR so no local currency issue, only looks worse on conversion to £.As far as I'm concerned an excellent set of results, await broker comment with interest.
Tax Inspector
06 Dec 2016
Latest Results Unfortunately these results are not brilliant and could have been a lot better:1. Revenues have more than doubled (108% increase) but less than half of this has flowed to the bottom line (i.e. PBT has only increased by 19% and EPS only 41%). This is despite the fact that exchange rates have moved in our favour!2. Debt burden has increased and will do so further given the need to fund solar expansion - funding for which will be at an 11% interest rate3. Load factors have improved but way below the 90% plus level we should expect4. Receiving a paltry 0.26p dividend (less than 0.5% yield) is a complete waste of time and better used to pay down debtIn my estimation, we are fully valued based on a multiple of EBITDA and so shouldn't expect the share price to rise much in the next 6 months.
gallant02
28 Nov 2016
Re: Article on Proactive Investors It's an old article re-released, no doubt to raise interest ahead of the imminent interim results.
moneybeingmade
28 Nov 2016
Article on Proactive Investors [link]
gretel
17 Nov 2016
Re: Encouraging Great to see a well-deserved bounce here.Forecasts vary substantially between houses. For example, for next year Cantor go for 10.81p EPS, whilst Shore have 8.7p EPS. Cenkos sit in the middle at 9.3p EPS.The only thing you can say is that OPG remain very good value at all these estimates!
