Share Name Share Symbol Market Type Share ISIN Share Description
Opg Power LSE:OPG London Ordinary Share IM00B2R3RX72 ORD 0.0147P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 66.25p 65.50p 67.00p 66.25p 66.25p 66.25p 33,237.00 07:31:44
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electricity 128.4 28.6 5.3 12.5 232.87

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Date Time Title Posts
04/12/201614:24OPG- INDIAN OPG POWER PLANTS. MASSIVE UP-COMING GROWTH2,920.00
29/5/201413:39OPG Power - India1,638.00

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DateSubject
04/12/2016
08:20
Opg Power Daily Update: Opg Power is listed in the Electricity sector of the London Stock Exchange with ticker OPG. The last closing price for Opg Power was 66.25p.
Opg Power has a 4 week average price of 66.33p and a 12 week average price of 63.55p.
The 1 year high share price is 85.25p while the 1 year low share price is currently 53.50p.
There are currently 351,504,795 shares in issue and the average daily traded volume is 157,523 shares. The market capitalisation of Opg Power is £232,871,926.69.
21/7/2016
15:41
eddie1980: Pretty much. EPS will grow as utilisation rates improve and debt decreases, but you can't price it as such as output will be significantly increasing every 3/4 years. Everyone loves a growth story that keeps on giving. If the company had maintained the share price strength (better mgmt?), and was making good margins on current output, I am convinced they would have been able to/gone to the market for more funds to cover the equity element of new coal plants. But events otherwise has forced their hand to this route. If we were talking of EPS figures of 15, 16, 17p in say three years, through every increasing plants, this would have driven the share price one way. Sadly, even the brokers have put the future growth plans for solar in monetary terms on the share price as very little. The other thing which has disappointed me in recent months which I never fully realised when I held this previously, is that the significance of the price of leccy being linked (both ways) to the price of coal. I recall when the coal price increased a number of years ago, it had a negative impact on the profit to bottom line. But the recent price weakness in coal has lowered prices OPG can get, so the company does not benefit fully from lower input costs.
21/7/2016
14:10
eddie1980: Another point which no one seems to have considered, but is relevant both for current share price performance and for the seemingly downgraded internal ambitions of OPG - the stated aim of 300MW of solar over the next three years. I have already flagged the lower actual output of solar relative to coal, but now onto something more linked to the current and future share price. Whilst I take no notice of brokers price targets (generally nonsense, brokers are good for background and trends in EPS forecasts, but for valuations, they are obviously biased) The broker stated that the 300MW would add about 13p to the valuation, or 10% on top of otherwise 130p. Ignore the absolute numbers, but consider that mgmts three year aim, is valued by the brokers to add about 10% to their entity valuation. Hardly inspiring stuff, given the output they have built to date. Now consider what valuations the market would have put on the company when it was rapidly increasing its thermal production (and the increase to EPS those increases were bringing), and then the impact of looking forward and pricing in similar increases in future years. Growing bottom line by 20 or 30% every year through increased production can have a great impact (or at least support) for a share price. Now we are basically being told (even by the brokers) that the future growth plans are actually adding little to the overall entity valuation, so from moving to any expectation that the company will grow capacity aggressively and thus bottom line, to one of little growth can have devastating impact on value. (cue see current share price.) They really need to come up with something to get expectations up.
18/7/2016
06:27
rivaldo: Macquarie have a 120p target here: http ://www.proactiveinvestors.co.uk/companies/news/128262/opg-power-ventures-fully-delivered-on-targets-says-macquarie-128262.html "OPG Power Ventures fully delivered on targets, says Macquarie 16:14 15 Jul 2016 Broker Macquarie rates India-focused power generator OPG Power Ventures PLC s 'outperform' and says "significant upside" is on the way. Broker Macquarie rates India-focused power generator OPG Power Ventures PLC (LON:OPG) as 'outperform' and says "significant upside" is on the way. It has a 12 month target and valuation of 120p on the stock, against a current price of 54.75p. Since the beginning of 2014, the group has successfully delivered on its targets by more than doubling its ‘operatingR17; capacity, thereby removing any ‘residual̵7; pipeline risk," says analyst Dominic Nash. Indian GDP (Gross domestic product) is nearing 8%, and OPG has derisked its business model and recently made a foray into the renewable space (solar). "However, OPG’s share price has decoupled from fundamentals and is currently trading even below pre-2011 levels," the broker notes. Macquarie believes it is unfeasible that coal will be displaced as the ‘workhorse' fuel. The OPG fleet is new and complies with coal-emissions regulations, it added. It has now delivered its target of 750Mw of installed capacity, and once commissioned, the broker sees a two-fold increase in EBITDA (underlying earnings) to £86.3mln in 2018 estimates. It recently announced the development of a 62Mw solar project in Karnataka, with a 25 year PPA (power purchase agreements),which the broker sees as 3p a share value accretive. The firm is aiming for over 300MW of renewable projects in India, adding 16p or 13% to the broker's valuation. Dividend yield should grow over 8% from 2018, the broker added."
12/5/2016
11:05
grabster: The OPG share price is no higher than it was two years ago. All gains in between then and now have been wiped out. In fact it is now where it was seven years ago. Every rise along the way has collapsed. Those who bought after igoe started this thread will have done very nicely if they sold at over 100p.
11/2/2016
11:35
rivaldo: Big feature in today's Shares Mag - there's also a table of forecasts, with 6.6p EPS to March'16 jumping to 10.1p EPS and 11.1p EPS for the next two years: "OPG POWER VENTURES (OPG:AIM) 76.25P THIS COMPANY IS proof that there is money to be made from investing in India-based companies. OPG floated on AIM in 2008 with the intention of developing power plants in the country, capitalising on the ferocious demand for electricity. It has spent the past eight years expanding operations and we’re now at a point where the capital expenditure phase ends and the cash generation phase ramps up. OPG announced on 1 February that it had switched on a second unit at its Gujarat power plant, thereby taking group capacity to 750MW (megawatts). This means the group has now hit its output goal and can sit back and enjoy the cash from generating and selling electricity. OPG is expected to start paying dividends from mid-2017. Stockbroker Cantor Fitzgerald has a 134p price target, implying 75% upside from the current share price. ‘Cash generation has already stated and we are paying down bank loans,’ says Ajay Paliwal, strategy director at OPG. ‘The assets have a 40 year life but the bank loans have to be paid over 10 years. Lots of other Indian developers have struggled with their repayments but we have greater cash.’ It pays 12.5% interest on debt; this is compared with an Indian base rate of 6.75%. Paliwal believes hitting the 750MW capacity level gives the company enough credibility to refinance debt and potentially knock 100 basis points (1%) off the finance rate. The target is to operate at 85% to 95% of capacity. March to May is seasonally the busiest time of the year. ‘Lots of independent power producers have entered into a 25-year sales agreement with the state energy company. These tariffs can be very tough; why take the risk when we operate in a market short of power?’ says Paliwal. ‘We have formed an agreement with commercial customers for two-to-three year deals. The price they pay for energy is related to the industrial tariff they would pay the state energy board.’ Ongoing weakness in global coal prices is beneficial to OPG as it reduces the cost of its main raw material. The share price has been weak since last summer as investors worried about delays to the second part of the Gujurat plant, a risk which has now gone away so this is a perfect time to get on board. Paliwal says that a small shareholder also dumped their holding over Christmas during a time of thin trading in stocks, so the disposal triggered a large decline. ‘They were only small; we’ve not had a single large shareholder selling stock on the back of what the company has done (since listing). When one shareholder had to moderate their position, others picked up their shares.’ Given that India’s power demand far outstrips supply, why isn’t the market full of new entrants? Paliwal says it would take a significant amount of new supply to catch up with demand. ‘The grid has got to be made more robust on a national level. India’s transmission losses are twice that of the US.’ OPG’s expansion may concentrate on thermal and solar power. The company says it is very picky about new projects and claims to have a competitive advantage over most of its peers by ‘seeing around corners’ to spot potential problems such as transmission lines obscuring access or not being able to ‘evacuate̵7; the power."
21/1/2016
16:22
eddie1980: You fail to see the analogy. OPG should be a growth stock - but there is no further growth, nothing. As soon as the plant is connected, that is it. Yes, it will take a further year for the numbers to flow through, but what I have said time and time again, is the market is forwards looking - how can they price this growth stock, when there is no growth? In absence of any growth, what is it? The company will still be earning 10p a share in 2017 (and in theory 2018, 19 etc). Not bad you may say. Worth more you may say. Why not a P/E of 10, 12, 14 even. My point with HSBC was that in the current market, you have one of the longstanding FTSE constituents also on a PE of 8, paying a 7% dividend each year. Yes, I acknowledge it is the extreme example from the FTSE, but it is there and available. So, from a purely earnings basis, you cannot rely on the earnings from the 750mw to drive the price higher short term. If the market was to hear that in 2 years they would be producing 2000Mw, earning 28p per share, with details of the financing to achieve it, that would drive the share. In answer to your question about what no share price growth in 8 years tells you - I think I have said many times - its not what they have done, its what can they do. They need to come up with that, both financially and strategically. To date, they have said nothing. that is poor. Do you see the problem now? You should be interested in what will move the share price, not the fact India is underpowered, or they will connect a wire next week. The fact they have said nothing? They didn't used to say nothing when trying to build the current capacity? So why now. Either they have no concrete options (bad) or they don't have the finance (also bad). Either way, bad for the share price. The company has said they won't raise new equity at this price. (as they don't want to dilute themselves). So, stalemate. I am intrigued to know how they will overcome this. No doubt there will be some dilution. Past history of smaller companies indicates this. But how its done or by how much, I don't know. Maybe they will choose to wait 3 years before they build anything, retain cash generated and do it that way. But again, in terms of share price, that will be negative, as there will be no growth for 4,5 years until new plants are in place. I really do give up. Use your brain and try to understand why your investment has done nothing in years despite their operational success. Then try to understand what make your investment work. Then try to understand what the risks are, and what obstacles there are to the company achieving success. Ps. The mighty questor tipped OPG in May 2014 at 94p, November 14 at 107p, and 99p in June 15. That's about as good as your recommendations over the last 20 months. Pps. Given you rely on tip sheets, have a read of what SCSW said this month - I have just read it, and they suggest exactly the same - the share price is held back due to lingering need for cash for expansion risking dilution through rights issue. The delays in getting the last 150mw on line at least giving growth to 2017........but then none!
24/12/2015
09:22
source: Thanks MT. I know broker forecasts need some seasoning sometimes but OPG has 9 different forecasts (many reiterated only in the last few days too). ALL these are now forecasting an OPG share price of between 120p and 150p.http://www.marketbeat.com/stocks/LON/OPG/ -- Given OPG's recent confirmations on the company progress that:-(1) Its business has not been meaningfully impacted by the major floods in Chennai;(2) Its plants remain undamaged;(3) Rumours of cash calls are completely unfounded;(4) It has picked up new business in Chennai;(5) G2 is still on target as are its plans to get to 750MW (hopefully sooner than later - per my previous comments!)(6) Has existing opportunities and land for short/mid term expansion & is exploring numerous longer term opportunities for major further expansions. (7) Its markets seem to remain very buoyant and growing - supported strongly politically, socially and economically;(8) OPG's new freight ships will increase its cost advantages. Etc etcWhile there are obviously risks involved it is still very hard to not conclude the current low prices that the risk/reward seems more favourable than any time in the last 2 to 3 years. I'm of the opinion that the current pricing is an anomaly. Hopefully one that shouldn't/won't last long as the price discrepancy starts sinking in wider and some bigger buyers start to avail to the opportunity at these low share prices. It may now take till after Christmas but the above facts will not be going away :)IMVHO DYOR Regards,Source.
27/11/2015
14:45
m.t.glass: Investors Chronicle today: Has EM power lost its spark? Sector Focus It's well known that many emerging market economies are held back by perpetual energy deficits. So it's little wonder that western companies have been rushing in to fill the gap. Whether it is conventional electricity generation in India, or the provision of temporary power sources in parts of the Middle East and Africa, there are UK-listed companies with an interest. With intertwined structural levers linked to population growth and rapid industrialisation, it's easy to appreciate the investment case - but it is far from clear whether selling power in these markets is a sure-fire way to generate regular returns. The performance of UK power providers has been hit by geopolitical volatility, in addition to a marked contraction in economic growth in several emerging market countries. So it would be justifiable to ask whether the opportunities on offer still outweigh the potential pitfalls. Black is the new black India seems the obvious place to start. Prime Minister Narendra Modi has targeted uninterrupted power supply to all of India's 1.3bn population by 2019. Coal will play a big part in achieving this. What's more, Mr Modi is looking to increase private participation in the sector. Coal India currently accounts for around 80 per cent of coal production in the country and is 80 per cent owned by the government. However, authorities in Delhi recently approved the sale of a 10 per cent stake in the state-controlled entity, potentially generating $3.2bn (£2.1bn) for government coffers. Things have not been running smoothly at Coal India, with bulk production of the black stuff failing to keep pace with nationwide demand. The country's industries are reliant on imports, which now account for 18 per cent of total electricity generation - hardly an ideal scenario for a nascent economic superpower. Operating against this backdrop is electricity generator OPG Power Ventures (OPG). OPG operates coal-fired plants in Chennai and Gujarat, which currently have a combined capacity of 600 megawatts (MW). By January 2016, management expects this to increase to 750MW. The UK group's capacity expansion has been impressive; increasing year-on-year generation by more than 50 per cent at its half-year mark. Industrial customers now make up 62 per cent of its total sales, but what makes OPG different to many other coal-fired power generators in India is that its fuel mix is split around 70/30 between Indonesian and Indian coal. This means it has been less affected by domestic coal shortages in India. Mytrah's leveraged play on a green India Although carbon predominates, renewable energy still has an important part to play in India's growth story. In its union budget for 2015-16 the Indian government set a target to install 60 gigawatts (GW) of wind power capacity and 100GW of solar power capacity by 2022 - more than six times the current installed capacities of around 22GW and 3GW, respectively. Following the sale of Greenko (GKO) to the Singapore government earlier this month, the remaining UK-listed company in the Indian green energy space is Mytrah Energy (MYT). The wind power provider has been steadily building up its capacity, which now stands at 578MW, with plans to reach 743MW of capacity by the time the 2016 windy season comes around. But this rapid expansion has come at a price. Net debt stands at an unwieldy $519m. It was up a fifth during the first half of Mytrah's financial year, effectively tipping the company into negative earnings. Although Mytrah's high degree of leverage is hardly helping the shares re-rate, it could eventually translate into strong earnings growth, assuming capital has been allocated wisely. Rapid capital expansion and risk profiles "There is an element of risk with all these companies because they're developing quite quickly," says Cantor Fitzgerald analyst Adam Forsyth. "That sometimes holds back profitability because a lot of the time cash is being put into new products." However, this is absolutely what renewable energy companies should be doing, he adds. Of course, it is also important to note that both OPG and Mytrah should reap the rewards of this investment and throw off a lot of cash once their assets are fully operational - but investors may require patience. Shares in both OPG and Mytrah have suffered, with the latter falling by 40 per cent over the past six months. This may have something to do with investor sentiment towards emerging markets, which has soured on continued US dollar strength. Yet it is worth remembering that India's GDP is forecast to grow 7.7 per cent in 2015, compared with Chinese forecast growth of 6.9 per cent. Plugging the gap With the intensified strain on power transmission in some emerging economies, a number of temporary power providers are now selling energy straight into national grids. Aggreko (AGK) is the most prominent UK-listed company in this field. Recent contract wins included the provision of 95MW of natural gas generation to Myanmar during the drier summer months, since around 70 per cent of the country's energy supply comes via hydropower. Contracts can also last several years, providing enhanced revenue visibility. For example, Aggreko first set up its gas-fired generation plant in the Ivory Coast in 2010, initially producing around 70MW. That has subsequently been stepped up to 200MW and Aggreko recently had its contract extended by another three years. Geopolitics and other power plays Geopolitical turmoil in Libya and Yemen has derailed operations for many western companies, including Aggreko and APR Energy (APR). The disruption was particularly acute for APR Energy. After failing to ratify its contracts with the Libyan government, APR was forced to withdraw its assets from the country. Management followed a similar course of action in Yemen earlier this year, due to ongoing security concerns. While events have been out of the company's hands, the financial consequences have been dire. The company has so far booked a combined total of almost $775m in non-cash impairments and asset writedowns. In June, management announced that long contract lead times and delays to contract negotiations would also dampen profits for the current year. However, there may be light at the end of the tunnel for investors. APR is currently in discussions with a consortium, which includes Albright Capital Management - a private equity group led by former US Secretary of State Madeleine Albright - over a possible takeover. This has triggered a slight resurgence in the shares. Favourites: Despite the country's environmental targets, coal will remain a big part of India's energy mix for the foreseeable future. Increasing the proportion of industrial customers to its Chennai plant, means OPG will have greater revenue visibility. In its most recent trading update, management said the price of imported coal was 11 per cent lower during the first half, compared with last year. What's more, at the time of the group's 2015 results in June, chief executive V Narayan Swami told us that OPG intends to begin paying a dividend at the 2017 financial year-end. The shares are trading on just 11 times Bloomberg consensus earnings. Considering the growth potential and India's high demand for power, we think this represents value. Buy. Outsiders: Aggreko has endured torrid trading conditions, with a share price down 39 per cent on our February sell tip. While the group has obviously faced some difficulties as a result of its operations in Yemen, the power provider's problems aren't restricted to security issues. A slowdown in oil and gas markets has been the main factor hampering performance. Management is guiding towards full-year pre-tax profit of between £250m and £270m, compared with £289m in 2014. The shares are trading on 14 times forward earnings. And although management has restructured the group and plans to find £80m in cost savings by 2017, we think recovery will not arrive any time soon. Sell. IC VIEW: As GDP growth depends on securing enough energy to power the industrialisation taking place within many emerging markets, the demand for services offered by Mytrah, OPG et al is undoubtedly there. So while the jury is still out as to when the temporary power providers will be able to overcome their current end-market troubles, investments within this sector, certainly for OPG and Mytrah, should be seen as long-term - there's no quick power fix. Broker's view Aggreko's recent third-quarter (Q3) results offered a positive message, with underlying revenue growth for the second half of 2015 expected to be -2 per cent, compared with -7 per cent in Q3 2015. The acceleration in Q4 can be explained by a couple of one-offs. Full-year pre-tax profit is now expected to be at the bottom of the £250m-£270m range; however this is above company-provided consensus of £249.1m. Despite the incrementally positive message on the full year, the market remains challenging. We remain neutral, with the relatively attractive valuation - 14.4 times 2016 earnings - offset by the strong competition and weaker emerging market outlook. While we believe there is a large structural growth opportunity in the provision of temporary power, particularly in emerging markets, which lack the necessary infrastructure to meet a growing demand for electricity, we remain cautious on Aggreko in the short term. The reduced volumes in commodities remain a drag. We base our target price on a discounted cash flow (DCF) methodology, using a weighted average cost of capital (WACC) of 8 per cent and a terminal growth rate of 2 per cent from 2023. We have reduced our DCF-based price target by 12 per cent to 1,150p to reflect changes to our estimates. Upside risks include stronger local business performance if the macroeconomic environment improves; an acceleration in the pace of contract wins in power projects, which would make our growth assumptions too low; and finally the announcement of further capital returns. Downside risks include a deterioration in macroeconomic conditions, particularly emerging market growth, which could lead to lower demand for temporary power in both local and power projects; a more competitive market, especially given the current weak markets and a loss of a major power projects contract. Robert Plant is an analyst at JPMorgan Cazenove visible-status-Standard story-url-emerging market power sector socus 241115.xml By Emma Powell, 27 November 2015 Print this article Share this article
09/8/2015
11:42
source: Right – got interested and did a tonne of reading to get an informed view on this, particularly given the overwhelming positivity (some admittedly often informative) of many posters on this board compared to the really poor share-price behaviour over such a sustained period – which let’s face it, is always a bit of an investor Red-Flag (I was actually trying to establish if there was hot air in the OPG “story” also). In many ways the buoyant Indian power market and India growth story are alluring, but when you step back this is really independent of OPG really. For me I see players like OPG/others seem to simply be potential “protagonists” that may/may-not be able to ride what is a healthy backdrop. Unlike other investments, OPG is not creating this healthy backdrop with its products or innovations per se. Instead OPG bears critical ‘execution risk’ in order to succeed. Importantly, how professionally it ‘executes̵7; seems to be a huge difference maker between whether it is a good or horribly miserable investment. Separating these two very different dynamics I see that OPG seems to have developed through what I call 2 general “phases”. The first from smaller generating units, or its “Phase-1”;, onto its current 180MW and 2x150MW = “Phase-2”;. Overall OPG have done well in Phase-1, but what I call their 2nd phase they have been subjected to substantial “Execution Drift” (note this is not an execution failure, yet anyway!)….Chennai V and Gujarat have been REALLY slow to transition to a proper commercial operation (i.e. missing managements own deadline multiple times now, since 2014). This drift/missed-targets seems to have been taking place since Q4 2014 as far as I can tell. As a result OPG’s expected growth has also “drifted”; somewhat for its bigger Phase-2 stage of development and this has prevented these getting on-stream (even to today). i.e. OPG’s execution has been slower than that communicated by management or indeed expected by its various analysts. ==> So boiling it down its clearer to me this is the reason for the share-price drift…Maybe more worrying though is that this drift has led to a worsening of OPG’s profit forecasts for the next 2 financial years (which while still good have certainly diminished somewhat). ==> What I mean here is that I can now see this diminished performance in OPG’s forecast consensus EPS for the next two years. These have steadily deteriorated over the past 3 months or so. ==> Specifically OPG’s profit and EPS forecasts for the next two years have dropped by about 23.7% for 2016 (falling over the past 3-months) and then also by another 26.7% for 2017!!… ==> Sure OPG may be able to secure this lost ‘executionR17; over a longer time-frame, but its clear “execution drift” has had a notable impact recently. This seems why OPG’s price also continues to drift. As investors its worth just acknowledging that and not get overly carried away and brush over this reality. (NB: I guess I should have worked all this out from my first observations on OPG and my related comments!! i.e. my first comments simply noted that the management had said they’d issue a “trading update in Mid-July”, and here we are well into Aug and no update so I thought I’d raise on the board that this seemed worrying. After-all, if management execution risk is prevalent in a simple trading update to the market/shareholders then conceivably OPG could experience the same in its “Phase-2”; rollouts! :) – If I’d just connected it then I would have saved myself a lot of reading!!! ;)
09/10/2014
09:51
azalea: Whilst we are waiting for news from OPG, here is a question on GKO versus OPG share price. Given the following data presented by Morningstar Premium Service, would anyone like to justify their current difference in share price. GKO 150.657560m shares Brokers' consensus Eps forecast FY2015 10.27p FY2016 15.21p. OPG 351.5m shares Brokers' consensus Eps forecast FY2015 6.06p FY2016 13.86p
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