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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Opg Power Ventures Plc | OPG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.40 | -7.77% | 4.75 | 12:17:45 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 5.15 | 4.75 | 5.15 | 4.75 | 5.15 |
| Industry Sector |
|---|
| ELECTRICITY |
| Top Posts |
|---|
Posted at 23/1/2025 14:00 by gb904150 This guy, Chakrapani Murugeswaran seems to be at OPG Power limited (i.e. at the private subsidiary level) rather than at OPG Power PLC at the PLC holding company level.From AR 2024 the directors are: BOD at 31 March 2024 1. Mr. N. Kumar (Non-Executive Chairman); 2. Ms. Avantika Gupta (Chief Executive Officer); and 3. Mr. Ajit Pratap Singh (Chief Financial Officer). NEDs 1. Mr. Jeremy Warner Allen (Deputy Chairman); and 2. Mr. P. Michael Grasby (Non-Executive Director) Perhaps Chakrapani Murugeswaran is the fall guy?! Either way....I hope that more scrutiny of the business going forwards helps transparency and ultimately the valuation here. |
Posted at 15/1/2025 10:28 by philjeans Anyone had any news or rumours from India?All gone very quiet but I'm certain OPG continue to make astounding net profits! Just need to clear up this Money Laundering investigation. |
Posted at 23/12/2024 10:58 by philjeans Extract from the Co Report 20/12/24;"On 11 & 12 November 2024, the Directorate of Enforcement (ED), Chennai Zonal Office, conducted search operations at various premises associated with the OPG Group, as part of an investigation into alleged violations under the Foreign Exchange Management Act (FEMA) and Foreign Direct Investment (FDI) Regulations. The Company would like to assure our stakeholders that the Company has fully cooperated with the authorities throughout this process and has provided all requested business-related information in a timely manner. The Company remains committed to adhering to all applicable regulations and will continue to offer full cooperation with the enforcement authorities. The Company are confident in the integrity of our operations and will promptly supply any additional details that may be required by the relevant authorities. The Company continues to strengthen its balance sheet and liquidity position which provides OPG with the financial strength and latitude to pursue new growth opportunities in energy transition. The increase in electricity demand and transformation in the power sector in India provides a prime opportunity for OPG to continue to generate profitable revenues through its sustainable operations. The Company expects to continue to generate strong cash flows from its operations." N Kumar Non-Executive Chairman |
Posted at 20/12/2024 09:42 by rivaldo Very good H1 results, setting up OPG for a massive beat of what now look like very conservative forecasts.The H1 £4.3m PBT means OPG only need to make £0.8m PBT in H2 merely to meet forecasts of £5.1m PBT and 1.2p EPS. Cavendish have a 28p target price predicated on their forecasts, so there must be decent further upside on a beat. The £22.3m net cash is more than the current m/cap! Of course this may or may not be an unusually high balance due to payment schedules etc, but the £4.5m forecast year end cash pile also now looks seriously underpowered. Particularly as coal prices - OPG's main cost - which rose in late September/October have plummeted in November and December to their lowest levels since March: |
Posted at 19/11/2024 09:10 by igoe104 Its a interesting situation with opg. The CEO has had lots of assets seized including 700k cash at his own home because of alleged Money laundering issues. In the meantime the shareprice has fallen from 9.5p to 6p. The CEO owns 51% of the company, so if they want to seize his stake in the company surely the company will probably be put up for sale and anyway if found guilty he will lose his directorships.Opg owns 414 MW and the NAV is currently at 42p. So if this issue is only individual persific and not company persific, it might work out for holders if they are forced to sell up because even at a large discount to the NAV 25p to 30p sale, holders will multi bag especially from this level. But it certainly doesn't come without risk, as if its company persific, holders could get zero. But at the current price 6p its worth the risk in my eyes. |
Posted at 05/11/2024 11:04 by rivaldo All OPG need to do imo to get the share price moving is to continue as they are - if they can continue to produce improving EPS/profits and a growing cash pile then the share price will follow.Once the cash has really piled up then OPG could announce the resumption of dividends to further boost sentiment. I suspect that OPG have learnt their lessons in terms of diversification and will concentrate on what should be a winning strategy in terms of leveraging the continuing and long-term boom in demand for power in India. |
Posted at 05/11/2024 10:08 by rivaldo Last year's H1 results were on 13th December, so not long to go.With historic 1.02p EPS increasing to 1.2p EPS forecast to March'25, and OPG now having £3.6m net cash (incl. restricted cash), OPG looks in excellent shape with Cavendish forecasting a much lower tax charge this year offsetting higher distribution costs and thus a lower PBT. We already know that OPG are getting 70% plant load this year, slightly ahead of last year, and they've told us that coal and freight prices continue to normalise. Cavendish have a 28p target price and note 42.3p per share of NAV. These forthcoming results should be enough to get things moving nicely if all goes well. |
Posted at 23/10/2024 11:02 by rivaldo Indeed, quite a few interesting comments. Although I found it impossible to understand Ajit, the CFO - he needs to slow down and enunciate more clearly.A few quick notes: - "actively considering" future strategy, including returning cash to shareholders via dividends or buybacks, acquisitions etc - OPG are generating "good profits and good cash" - in a couple of years the cash generated (I assume annually) will equal the current m/cap! - 65% of the shareholders, incl.Gupta and the largest other inst. shareholder (who they've spoken to recently), are firm holders, as are the other institutional holders - OPG will not be delisting and they're "fully committed" to a UK listing - as regards an Indian dual listing, there's no fungibility between UK and Indian shares, plus they'd have to raise £50m-£60m and do something with the cash, which seems pointless given OPG's fast-rising net cash - I couldn't understand the CFO's answer about the solar debentures. Anyone else? |
Posted at 27/9/2024 09:47 by rivaldo For those without access, Cavendish's new note has a 28p target price:"We are basing our valuation on a forward EV/EBITDA multiple for OPG Power, based on FY25E. The peer group average multiple is 11.0x. We apply a small-cap discount for OPG, which we are conservatively setting at 30%, for a target multiple of 7.7x. This give us a target price of 28.0p, which is an increase from our previous target of 27.0p." Cavendish summarise: "Recovery confirmed – The cheapest way into India OPG Power reported FY March 2024 results which were better than our forecasts at the EBITDA and net debt levels and in line or better overall. The period saw normalisation of coal prices following the disruption caused by Covid and saw Plant Load Factor recover to 69.2%. We expect OPG to continue operating at good levels of plant utilisation, sustaining profitability and cash flow. We are introducing forecasts for FY March 2025E. We expect the net cash position to continue rising over coming years and, with the shares trading on an EV/EBITDA of only 3.0x to March 2025, OPG offers investors a cheap way to gain exposure to the dynamic and fast-growing Indian economy. Our price target of 28p is based on a conservative discount to comparable Indian companies." "Valuation upside: We value OPG by comparison with the Indian power utilities sector using EV/EBITDA multiples. The valuation table is included on page 3. OPG compares favourably to this peer group in terms of balance sheet strength and cash generation. We nonetheless base our valuation on a conservative small-cap discount of 30% for OPG, in line with wider market valuation trends, and arrive at a target price of 28.0p. The valuation is also underpinned by a strong asset base, with an NAV of 42.3p per share." |
Posted at 29/8/2024 13:12 by gb904150 To be fair, until OPG show a willingness to distribute profits then the share price is perfectly correct in languishing where it is.It's not enough to be cheap but hopefully OPG will soon have so much cash it will be embarrassing not to distribute it. They've made hints at a willingness to do so in previous RNS's but nothing yet. From the 2023 Annual Report: Dividend policy One of the OPG’s paramount objectives is to maximise stakeholders’ long-term value. Keeping in mind, the disruptions and uncertainty caused by the extraordinary volatility in coal prices and related freight, the management, in consonance with the Board believes that it is in the best interests of the Group and its stakeholders to conserve cash. The cash thus accumulated will be used to maintain a strong and resilient balance sheet to withstand turbulent times. Therefore, the Board decided not to declare a dividend for FY 23. The Board will revisit the Group’s dividend policy in due course. Dividends Due to the disruptions caused by the extraordinary volatility in coal prices and freight, the Board has made the decision in the best interests of the Group and its stakeholders to conserve cash. This cash conservation will be allocated for debt repayment, funding growth in ESG-focused projects, and ensuring a strong and resilient balance sheet capable of withstanding turbulent times. Consequently, the Board has chosen not to declare a dividend for FY 23. The Board plans to review the Company’s dividend policy at a later date, once coal prices and electricity tariffs stabilise. The real question is what does Arvind Gupta want? When he decides he wants dividends he will get them. One of the reasons the share price also stays so low is the lack of balance to ownership. A majority stake is never good. It was healthier when there were lots of ii's holding stakes. But they all sold out following the CSR/ESG/EDI/net zero edicts. |
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