Share Name Share Symbol Market Type Share ISIN Share Description
Mytrah Energy LSE:MYT London Ordinary Share GG00B64BJ143 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.85p -2.76% 30.00p 29.70p 30.00p 30.00p 30.00p 30.00p 29,349 12:27:19
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 293.3 -4.5 -2.0 - 49.08

Mytrah Energy Share Discussion Threads

Showing 251 to 273 of 275 messages
Chat Pages: 11  10  9  8  7  6  5  4  3  2  1
Reports that MYT will delist from AIM before IPO in India, due to differences in market valuation! It seems that one of/all of the operating subsidiaries would list in India. Logic would have the holding company's valuation would increase if it held a % of the Indian listed paper, but why do that when you can delist and force everyone into selling at this price, and have it all yourself. My betting is the Indian listing will have it at multiples of today. frustrating.
The point on transferring day to day running, is that simply I can't understand how the chairman would be able to get authorized a transfer once outside the operational part of the business, it simply shouldn't be possible. (unless, of course it was authorised by the CEO.) The market may misunderstand the entity but i'm not sure (small) profits will help - it simply has no market here. Yes, the share price will get chased up quickly if it looks profitable, but watch it move on about 1 million share buys (i.e. £300k) - the value of the business doesn't genuinely change on that level of buys or sells. With the level of investment in power each year (800MW), the company wont report profits, but as long as cash returns are surpassing targets on active installations, the company is meeting its objectives. A secondary / new listing will be about raising some funds (they themselves always talk that new investments/sites should be 25% equity/75% debt) but that certainly isn't the case to date. But it will also be about finding a valuation level for the business. Placing say 20% of the business (say reducing the family holding down to around 50%) would allow the market to place a more realistic value on the business, as there would be a bigger free float. One thing for sure, any new equity funds raised wouldn't be at the valuation today, it would be multiples. In my eyes, this share is all about them seeking market value that way. Simply won't happen just listed here and trying to value on standard price/earnings metrics. The only thing I have found is that the business is very leaky in information flows - not in a bad way, but the press talk about funding, investments etc, long before actually announced by the entity. The IPO talk has been about a good while too, and now there are interviews accrediting the CEO with this talk. Mytrah even link to articles on their (new and improved!) website of such talk. So, one way or another, there will be activity within the next year or so to seek a way to raise money/find a higher valuation in the marketplace.
Hmm. Doesn't do much for trust does it. I'd been shown the door if I did that.
Eddie. The CEO is his nephew. I too am surprised by Ravi. He is a Stanford MBA and very experienced. As you say it is very confusing that they talk about an IPO. Over time I have come to understand it is, as you say, the Indian subsidiary. They could do a straight introduction without a placing. They don’t really need much equity. The problem with the share price derives from a lack of profits. As you say it is all about cash but I don’t think the AIM market really understands this type of company. Once they show a profit - should be for this year - it should rerate.
Must admit, am suprised by this. One, Ravi, (the founder), handed the day to day reins to (name blank!!) the CEO many years ago - I really struggle to understand how he could extract such monies like this. Surely there are controls in place. On the positive, shows good governance to identify and notify, and it should be repaid shortly. Was only ever going to be damaging to share price short term. My worry with companies such as these, where the vast majority (70%+) are held by the founders and family, is that they can delist so easily. Clearly, with no market for the shares in the UK, the 'market' value of the shares is not realistic, and any buyer looking for significant stake or takeover would not be able to purchase significant quantities at these levels. Must still be very depressing to see the group valued at basically nothing. Shareholder returns - they do not focus on shareholder returns - for them its cash returns. Once the make the significant investment in the infrastructure assets, its all about the cash it generates, being a suficient return over the costs of such assets (typically the debt cost). This is why they have been able to achieve debt levels way above a normal trading company - the cash is just invested in long term infrastructure assets which generate cash. Not disimilar to pension funds investing in toll bridges or roads - just interested in the cash returns.. The profits will come to Mytrah on economies of scale, efficiences gained through learning re the technologies, and track record, securing lower interest rates on their borrowings. The CEO is now performing interviews where he talks of a possible 'IPO' next year - strange as they are already listed. But this presumably will be a significant placing of their existing shares, or new shares at presumably a better valuation onto an Indian stock exchange. I have seen other overseas companies end up with a split listing, where a trading subsidiary is listed on the local exchange, with the head company maintaining the UK listing (in truth this just ends up with the UK entity being valued as whatever their share of the trading subsidiary is.) Not quite sure how this would work in Mytrahs case, as the trading assets are split in separate entities (which they call special purpose vehicles)
After this mess the pressure will now be on to show shareholders returns rather than empire building. Doesn't help install confidence in Indian companies.
monty panesar
Has anyone managed to work out the total interest bearing debt and the average cost of debt?
bought in today feels like worms finly turning here
tens machine
hxxp:// I am in at 24p and like it very much!
From memory USD 900m, net debt USD 800m, interest rate a bit above 10% but should fall somewhat this year (restructured last year) In relation to power sales (i.e. Non capitalised interest) on the 1GW they are broadly operating total interest is USD 100m. Borrowings INR. All FY16 figures. Remember monsoon skewed to the second half.
Anyone know how much debt they have and in what currency and what is the interest rate and how much the interest paid each year is in relation to power sales?
The run rate EBITDA for this year on operating megawatts of around 1,000 should be significantly higher. The 220 megawatts under construction in the published period should drop into this years p&l without significant adverse movement in overheads.
Let the chart be your guide to enlightenment Not a newspaper pundit
What do people think now significant Events have taken place and Results are in ? Anybody worked out what all the Foreign Investment, Loans & Debt might mean in terms of actual Shares in issue at a Global level in multiple Markets ? Worth a punt at long last ?
Many thanks hounddog. I've held MYT a few years ago, but sold at a slight loss. Looks interesting at these levels, just reading the accounts - lots of debt, and few headwinds (excuse the pun), but share price should re-rate. FT report on Renewables today talked of big appetite in India for renewables (wind, solar etc).
It is not very clear. I think management don't think being on AiM constitutes being public. I think they are talking of listing in India - presumably in addition to the AiM quote.
When the news refers to IPO, whose IPO are they referring to?
Refinancing information.... hxxp://
I am guessing that the v. large trade which has gone through is the fund which had stated it wanted out - IDFC Alternatives. Has another fund picked up the shares (presumably a disclosure notice would follow). explains the drop in recent weeks/months to fill that sale on this normally very illiquid share.
Heading to 40
Couldn't resist here. Some large trade went through a couple of days ago (+1m) which i think is something to do with one of the funds that stated they want out of the investment as liquidating the fund, which I think has driven the price to crazy levels. Ridiculously geared, but the big banks keep refinancing them on better and better terms. Loads and loads out out on them in all areas except the financials annoyingly. Some great bits on YouTube (one seems to hint 1.3gw in the ground now, not 1gw in a Feb 17 interview with the MD.) As long as banks don't take this over, the gearing should make for spectacular gains once they have some full years of the 1gw capacity flowing through in the numbers.
Well it looks like momentum is building. Up by 20% this week. Somebody out there knows something. Maybe the analysts are back from holiday and finally started to catch up on the trading update. Anyway, still lots of upside if you buy into the wind farm potential of the Indian market.
high noon
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