roco200
16 Nov 2016
Re: Encouraging Well another nice step in the direction of £1 today. Slow & steady does it!
gallant02
15 Nov 2016
Re: Encouraging The Interims are due early Dec so we usually see a rise beforehand, expected especially on this occasion as we should see a material rise in profitability. I expect it will be some time before we get back to £1 though.
roco200
15 Nov 2016
Encouraging Are we starting our recovery back to £1 or even £1.20?
holycustard
30 Sep 2016
Re: Confidence Hey TI - I'm not for falling out with anyone just because we have a difference of opinion. Having those opinions is what makes the board interesting.OPG is my biggest investment and I'm still drip feeding funds. My average is now just shy of 50p so I'm fortunate to still be showing a paper profit.I do have concerns (and indeed raised them on LSE board) but the company appears in my view, to be addressing those concerns.As for trite sayings, personally I'd rather see sales growing than in decline. At least with sales growth, assuming the company delivers what they say they will, this should lead to appropriate rises in profits.As I say, each to their own. You either believe what the company are saying (and see how that compares to thief track record) or you don't believe (in) them.......
Tax Inspector
28 Sep 2016
Re: Confidence re:gallant02 My vote goes to Burford Capital as, having held the stock for 15 months, I've seen a near trebbling of my investment - whilst OPG has moved in the opposite direction.
shovelier
28 Sep 2016
RNS due? This appeared recently on the John Laing Group page. Shouldn't it also appear here?Listing Rule 9.6.1419/09/2016 - 15:15 RNSRNS Number: 2358K John Laing Group plc 19 September 2016 LISTING RULE 9.6.14 John Laing Group plc John Laing Group plc hereby notifies that Mr Jeremy Beeton, one of its independent non-executive directors, has been appointed as an independent non-executive director of OPG Power Ventures Plc with effect from 25 September 2016. Carolyn Cattermole, Gro...
Tax Inspector
28 Sep 2016
Re: Confidence Remember the old adage; Revenue is vanity, Profit is sanity and Cash is reality. If we grow the top line it has to flow to the bottom line and associated EPS - it simply hasn't. BTW the capital markets presentation is full of jam tomorrow, hardly worth reading unless the forecasts become a reality.Long term I think this share will come good - I've owned it for many years - but short term bottom line fundamentals have to improve if the share price is going to go up i.e. it would be naive to assume that it will simply do so on the back of revenue growth.P.S. Holycustard you mark this as a Strong BUY so assume your selling the kitchen sink to buy more stock or, like everyone else, are you waiting to see what happens? BTW this is a rhetorical question so you don't need to respond.
holycustard
26 Sep 2016
Re: Confidence Agreed, gallant02. The recent presentation by the company addressed all the concerns raised by Tax Inspector (TI) (including paying down debt) as well as an upbeat assessment on current trading. (From memory, and without looking it up, I think revenues were up at around £50m this year from £28m last year in Q1).If you're so down on the company, TI, why stick around??
gallant02
26 Sep 2016
Re: Confidence A rather downbeat assessment that ignores rapid growth between 2013 and 2014 and also that clearly demonstrated in the recent interims.They must be doing something right as once again they are on the shortlist on the AIM companies of the year:"International company of the year: India-focused power generator OPG Power Ventures (OPG) and construction equipment manufacturerSomero Enterprises (SOM) Inc have both returned to the shortlist for the international company of the year. They are joined by bananas importer Fyffes (FFY) and investment company Burford Capital (BUR)."Note "returned" to the shortlist so not the first time they have been nominated so not a one season wonder.... They deserve more credit than they are getting presently in the sp, something will give soon.
Tax Inspector
23 Sep 2016
Confidence I'm heavily invested here as I believe the share price is significantly out of kilter with the long term fundamentals. However, lack of confidence seems to be holding the share price down:1. Revenues and EBITDA pretty much flat between 2014 and 20152. EPS only expected to rise by 10% this year despite massive increase in capacity3. Need to see significant uplift in average load factors this year4. Massive scepticism over whether renewables and thermal growth will really deliver the EPS and cashflow levels predictedI believe we need to see significant improvement in the financial results over the coming months for sentiment to change. Furthermore, I'm not interested in receiving a paltry dividend and would much prefer to see the company pay down its excessive debt as a priority.That all said, I suspect the dark cloud of the renewables venture will continue to hold the share price back next year.
gallant02
11 Aug 2016
Re: Cenkos and Cantor say Buy I think these figures are as always very conservative. In simple terms more capacity is coming on stream, net margins are improving as economies of scale come in, so if we annualise Q1 17 to £228m and assume this year's pre-tax margin 22% they should make £50m pre-tax, a 60% plus rise with the same implications for EPS growth, hence hopefully the sp...
jim b-r
09 Aug 2016
Re: The IC say Buy I was also a curious about that 80-85% range. I'm not sure, but when they talk about 'operational' I think they are talking about how much of the their plants' capacity was utilised, rather than whether the plant is finished. For example I note that across India as a whole, Plant Load Factor averages 64%. Wikipedia also mentions capacities above 85% being possible. But I guess there is always the auxiliary (internal losses) to consider, which are typically in the 7-9% region and will always prevent us getting too near to 100%. [link] Isn't Wikipedia fantastic that it has a page on this stuff!
gretel
09 Aug 2016
Cenkos and Cantor say Buy a) Cenkos say Buy and calculate OPG made 7.1p historic adjusted EPS to 31/3/16. They note that results were broadly in line with forecasts at £50.7m EBITDA (which is actually above £50.4m Cenkos forecast).There is a deferred tax charge resulting from the difference between Indian GAAP and IFRS depreciation treatment, but using the current year tax charge, adjusted EPS was 7.1p against 7p forecast.They forecast 8p EPS this year and 9.3p EPS next year.(b) Cantor retain their Buy and 130p target price and note that results were broadly in line with consensus for EBITDA, and were ahead of forecasts re net debt, though below their own EBITDA and PBT forecasts. They note the same tax timing difference factor.Q1'17 revenues of £57m are well above their own annualised £212m forecasts if sustained.They forecast 7.7p EPS this year and 10.8p EPS next year.
oldernowiser
04 Aug 2016
Re: The IC say Buy I am disappointed that they think only 80 to 85% of capacity will be operational. I fon't understand why it is not over 90%
gretel
03 Aug 2016
The IC say Buy [link] Power set for maiden dividend payoutInvestors that have kept the faith in OPG Power (OPG) will soon be rewarded, with management planning a maiden dividend worth 15 per cent of net earnings in respect of the financial year ending March 2017. That’s because the Indian power generator has finally hit its target 750 megawatts (MW) of operating capacity, a 480MW uplift on the previous year. Around 70 per cent of this capacity was operational last year, which management expects to increase to around 80 to 85 per cent by March next year. A reduction in Indian and Indonesian coal prices also helped boost profits - factory gate prices fell 1.6 per cent for Indian coal and 20.7 per cent for Indonesian coal. What's more, the generator's revenue stream has become more stable, after management signed a series of captive sales agreements with around 200 industrial customers to supply power from its Chennai plant. These contracts last between two and three years. Management says its priority now is "squeezing the lemon", in terms of current capacity and projects. Part of this is building up its 62MW investment in four solar projects in one of India's most industrialised states, Karnataka. Management hopes to build 300MW of solar capacity within the next three years. Analysts at Cantor Fitzgerald expect pre-tax profits of £35m in the 12 months to March 2017, giving EPS of 7.7p.IC VIEW:The shares are trading on around 7 times forward earnings, having declined considerably in value during the past 12 months. This is hardly surprising given the negative sentiment towards emerging markets. However, with that forward earnings ratio low against its historic range, we're sticking to buy."
