Mytrah Energy Share Discussion Threads

[salpara111] 21/10/2013 15:03

For every sale there is a buy.....that is not correct. MMs usually hold stock in any share they are registered MM in, otherwise you could not just place an order to buy stock in any company but rather you would have to wait until there was a seller lined up, it is what gives liquidity to the market.
Given the size of that sell trade a MM will have taken it on with a view to offloading it over a period of time.
If there had been a buyer for the stock it would appear, even as a delayed trade within 48 hours so.

[knackers] 21/10/2013 14:25

Fair enough, Sal, but for every sale there has to be someone the other side of the trade. Today's mark-up confirms there is next-to-no stock available - aka, all last week's 'sells' already had a home to go to.

[salpara111] 18/10/2013 17:01

Well there was a single reported trade of 575K on the 16th and the price was definitely a sell, you can see for yourself just by looking at the trades tab, there is nothing ambiguous about it.
Yesterday there were 70k sells Vs 5k buys.
I am interested in this stock but am not going to invest after that level of sales...either someone knows something we dont or there is now going to be a bit of share overhang to clear, either way means that I will sit on my hands for a few weeks.

[knackers] 18/10/2013 10:40

If these shares were 'dumped' the share price would be off 20%...min

[salpara111] 17/10/2013 16:49

Well someone dumped almost 600K of stock yesterday which is a little unsettling given the normal volumes on this stock.

[knackers] 17/10/2013 10:15

Interesting trading activity in recent days... ;o)

Keep watching

[salpara111] 04/10/2013 12:29

Don't disagree with any of the statement, my main concern is that they are priced for growth which is reasonable but risk is much higher given how dependent they are on government subsidy, look what happened to the solar industry when western governments suddenly and unexpectedly decided to slash feed in tariffs, a large number of the biggest players in the industry went into bankruptcy.
Inda is a very corrupt country and I would not be in the least bit surprised if the government did a sudden about face and left companies like MYT effectively insolvent.
For these reasons I think I need a bigger discount to enter this company.

[knackers] 04/10/2013 08:11

An inflection point for Mytrah:

Hyderabad, Oct. 1: Mytrah Energy Limited today indicated that it expects to nearly double its wind energy generation capacity from 309.9 mw to 548 mw with a few months.

The Hyderabad-based power producer is a wholly-owned listed entity on the AIM of London Stock Exchange. The company indicated that works on expansion and new projects are now underway. These projects are expected to be commissioned by the end of the year.

Vikram Kailas, Managing Director of Mytrah Energy, said, "Mytrah secured debt financing of $ 203 million for the 238.2 mw asset roll out scheduled for 2013. This debt financing was secured across a diverse range of Indian senior debt providers."

"The company also received $ 17.5 million financing from its sponsor group companies, reflecting their commitment. Its continued access to financing in India is a testament to our investment case," he said.

For the six months ended June 30, 2013, the company had revenues of $ 27.4 million (Rs 150 crore) as against $ 16.1 million (Rs 84.6 crore) in spite of a fall in the average exchange rate between the Indian rupee and US dollar from Rs 52.4 to Rs 54.9 from June 2012 to June 2013. The revenue was generated from the portfolio of company projects in operation in Gujarat, Rajasthan, Maharashtra and Andhra Pradesh.

The company recorded a net profit before tax of Rs 32.5 crore for the first half as against Rs 16.3 crore for the same period last year.

Ravi Kailas, Chairman, said, "Through access to finance, the quality of people and third party partnerships and commitment, we will continue to generate strong cash flows."

[salpara111] 02/10/2013 09:47

Not invested here but been watching for a while waiting for a bit of a pullback which we have now had.
Results solid but can't make my mind up about whether the stock is cheap enough when you apply the India risk reduction.

[knackers] 30/9/2013 08:42

Given the speed with which capacity is now expanding, I think historic EPS is of limited significance, Jas. Critically they're fully funded and have now kicked-off their 3rd Phase of development with the confirmation of the additional 227MW order.

- Additional order with Suzlon for the construction of a further 227 MW of capacity

They're well on their way to their first 1GW milestone and have ambitions that go some way beyond.

[jaslive] 30/9/2013 08:36

Found EPS on company website : Basic and diluted earnings per share from continuing operations for the period ended 30 June 2013 was USD 0.0236 (2012: USD 0.0157).

[jaslive] 30/9/2013 08:19

Results look good, however I could not see EPS figures in these results. Has anyone else seen these, or worked these out?

[knackers] 30/9/2013 08:11

Great results from the clever lads at Mytrah.

Looking cheap especially as wind is on a 'par cost' with traditional fossil fuel power generation in India - with the cost of oil and gas imports likely to remain high in the medium term. With the next phase of development and commissioning of assets well on schedule, should be extremely good news for the share price in the next 4-6 months.

"At the same time, we expect our exceptionally strong margins will at least be maintained if not improved on. This is due to the combination of having locked in the majority of our roll-out costs at highly competitive rates, our decision from the outset to secure our funding in rupees, thus matching our liabilities with our revenues, and also the rising tariffs we are seeing across our portfolio, reflecting the significant gap that exists between electricity supply and demand in India. We therefore expect the strong financial performance of the Company to continue in the years ahead, as we further build on Mytrah's position as one of India's largest wind focused IPP and in the process generate value for all our shareholders."

[knackers] 12/9/2013 08:03

Re-introduction of GBI (Generation Based Incentive) scheme and confirmation of pipeline assets about to be commissioned very welcome news ahead of half year results. Bargain prices here for those interested in a mid-long term hold.

Rupee has continued to recover ground after the mauling of recent weeks (possible 6 day straight gains against USD). Rupee weakness, of course, dramatic impact on the cost of importing oil and gas for fossil fuel power stations as the country attempts to address the national power deficit. Wind is close to par value/even lower cost and farms can be commissioned and connected to the grid far more swiftly.

[knackers] 06/9/2013 10:51

Bit of a roller-coaster here, but some interesting developments which underpin the fundamentals.

Worth a read: hxxp://forbesindia.com/article/hidden-gems/renew-power-tapping-into-indias-wind-energy-potential/36029/1

"...with conventional energy sources like thermal and gas more expensive, state utilities are now willing to charge significantly higher tariffs-by as much as 40-50 percent-over the last two years in certain places like Delhi and Rajasthan. Plus, since there is no recurring fuel cost as wind is free, the cost of generating electricity is now at par with a conventional source like coal. So now, the price of wind power is competitive-more affordable in some cases. Consider Karnataka, where the listed off-take price for wind is Rs 3.70 compared to Rs 5 for thermal energy from new coal plants.


"The speed at which [providers] can put up MW on the ground will be significant in determining competitive advantage..."

[cyfran101] 29/7/2013 23:52

A little more (older info)



Looks like a long delayed directive that they are trying to implement.

Apologies if old news, just hadn't seen any posts relating to it recently.

[cyfran101] 29/7/2013 23:29

Very odd development...



I can understand trying to be as accurate as possible to anticipate power production but to fine (as reported in above article) seems a little perverse.

[awesome45] 24/6/2013 17:45

Eddie

Its not actually a loss BEFORE tax but rather a gain of $1.5m for the 3 months. The main difference being that tax has changed from a credit of 0.5m to an expense of 1.2m. However the revenues were lower than we might have expected (39.8 vs 30.8 for the first 6 months) and financing costs have also increased by more than a pro-rata amount.

If the increased capacity can be utilised than we are looking at strong progress from here.

Awesome

[eddie1980] 24/6/2013 13:46

reasonable on face of it, but 9 month result is actually less than 6 months to September (so loss in last three months) - this is why they changed their accounting period!

will have to go through in detail to spot the difference in performance. (I guess its low revenues and fixed costs for the three 3 months.)

[phoenix1234] 27/5/2013 12:51

Buy Mytrah Energy at 108.5p http://www.shareprophets.com/analysis/478/buy-mytrah-energy-at-1085p

[knackers] 09/4/2013 21:33

Re-assessed my target price. Three month view now £1.40. Onwards and upwards -

[eddie1980] 13/3/2013 15:02

good looking update but no interest!

Only point to wonder is whether the increase to 600mw in calander 2013 is a slip compared to previous updates (haven't had time to go and check)

[eddie1980] 21/2/2013 12:49

serious volume - 500k been traded over lunchtime. Can't find any news however.