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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Opg Power Ventures Plc | LSE:OPG | London | Ordinary Share | IM00B2R3RX72 | ORD 0.0147P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| -0.20 | -2.22% | 8.80 | 90,865 | 08:00:56 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 8.50 | 9.10 | 9.05 | 8.80 | 8.90 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Electric Services | 155.69M | 4.11M | 0.0103 | 8.74 | 36.07M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 08:01:39 | O | 40,000 | 8.81 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 21/10/2024 | 06:00 | UK RNS | OPG Power Ventures plc Investor Meet Company Presentation |
| 25/9/2024 | 17:02 | ALNC |  EARNINGS: Origin Enterprises profit falls; GENinCode loss narrows |
| 25/9/2024 | 06:00 | UK RNS | OPG Power Ventures plc Final Results |
| 14/5/2024 | 15:53 | ALNC | EARNINGS AND TRADING: Various Eateries and Luceco see sales climb |
| 14/5/2024 | 06:00 | UK RNS | OPG Power Ventures plc Trading update for the year ended 31 March 2024 |
| 21/3/2024 | 10:25 | ALNC | OPG Power Ventures completes sale of struggling solar assets |
| 21/3/2024 | 07:00 | UK RNS | OPG Power Ventures plc Sale of Solar Assets |
| 13/12/2023 | 14:15 | ALNC | OPG Power Ventures sees revenue surge on increased operations |
| 13/12/2023 | 07:00 | UKREG | OPG Power Ventures plc Half-year Report |
| 05/12/2023 | 11:50 | UKREG | OPG Power Ventures plc Result of AGM |
Opg Power Ventures (OPG) Share Charts1 Year Opg Power Ventures Chart |
|
1 Month Opg Power Ventures Chart |
Intraday Opg Power Ventures Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 14/11/2024 | 22:20 | OPG Power | 1,379 |
| 27/10/2022 | 01:26 | OPG Power Beware of self confessed scammer | 4 |
| 26/10/2022 | 12:43 | OPG- INDIAN OPG POWER PLANTS. MASSIVE UP-COMING GROWTH | 6,123 |
| 29/5/2014 | 13:39 | OPG Power - India | 1,638 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 08:01:41 | 8.81 | 40,000 | 3,524.00 | O |
| 08:01:38 | 8.50 | 50 | 4.25 | O |
| 08:00:16 | 8.81 | 1,839 | 162.02 | O |
| 08:00:13 | 8.81 | 31,433 | 2,769.25 | O |
| 08:00:13 | 8.81 | 8,901 | 784.18 | O |
| Top Posts |
|---|
Posted at 14/11/2024 08:20 by Opg Power Ventures Daily Update Opg Power Ventures Plc is listed in the Electric Services sector of the London Stock Exchange with ticker OPG. The last closing price for Opg Power Ventures was 9p.Opg Power Ventures currently has 400,733,511 shares in issue. The market capitalisation of Opg Power Ventures is £36,266,383. Opg Power Ventures has a price to earnings ratio (PE ratio) of 8.79. This morning OPG shares opened at - |
Posted at 13/11/2024 10:49 by tim000 You say it nearly trades on a P/E of 2, but the interesting question is what is OPG’s most appropriate measure of profits? I’m not sure there’s a single conclusive answer to that. The company highlights EBITDA, but it does pay a lot of interest and tax. I don’t care about depreciation, that’s just an accounting concept not particularly relevant to a long-life power generating asset. It’s certainly a highly cash generating business in a country with rapid growth in power demand. My view is that if/when they decide to return a high proportion of FCF to shareholders, the share price will indeed rocket. But possibly not before then and the next annual results are about ten months away. It’s then that the company will review its capital allocation policy. |
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 10:38 by gb904150 The bamboo fields idea is a folly. Buying up fields? Processing bamboo to wood chips? Burning wood chips instead of coal? Who do we think we are, Drax?!Think of the logistics involved in the above. Look at the low energy density. It is a waste of time. If OPG showed just an inkling of interest in investor returns the share price could easily be 2-3x its current level. For now they dodge the dividend question, don't engage via IMC (they postponed then cancelled the last one) and pursue follies of wood chips from bamboo. That said, the backdrop is of a power plant that is worth multiples of the current Mcap in a booming economy with insatiable demand for electricity. Even if they just allocated £2m as a starter for dividends it would set the right tone. For now they are investor unfriendly, with a majority shareholder, hence the very low valuation. |
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 10/9/2024 15:36 by tim000 OPG is an example of a UK listed company run and majority-owned by a foreign family. It’s not always clear whether the listing is maintained as a status symbol, and whether the family are the most dynamic people to grow the business. And what their ultimate objectives are, for both themselves and their minority shareholders. Such businesses usually seem to be marked down in terms of share prices, because of these uncertainties. If you get to meet the family members though at AGMs and trust them to work in your interests, they can be excellent investments. I have others like that. I never got to meet this particular family cos the AGMs are on the Isle of Man. But maybe I will one day! |
Posted at 10/9/2024 15:24 by tim000 That may even be a retail price, it’s not trustworthy. OPG usually gives info on its coal prices paid in its trading updates. I don’t expect there has been any coal price inflation this year, as I say. A positive for OPG investors is that it’s something of a counter-cyclical stock and hence provides useful portfolio diversification. Indian demand for power is always high, meaning producers always have high capacity utilization of their plants. By contrast, input costs (ie costs of thermal coal) are cyclical and so margins and profits should be counter cyclical.The company has been opaque in the last couple of years about its true ambitions - does it wish to be a growth company (past forays into renewables and geographical diversification away from Chennai have failed and had to be reversed), or a safe dividend stock? It has mentioned buying coal mining assets if I remember correctly, but fortunately nothing has come to pass on that. They’ll be much better off with a strategy of deleveraging and returning capital to shareholders. As mentioned, that would see a much higher share price. |
Posted at 10/9/2024 14:59 by tim000 KS, what’s the source of your figures? The Ministry of Coal publishes a monthly coal index (NCI). OPG consumes middle-grade non coking coal, mostly imported from Indonesia (grade ICI4, which you can find weekly prices for on the internet), prices of which have been pretty static I believe for some time. The global markets for both coking and thermal coal have been weak recently, reflecting a slowdown in Chinese steel making and construction, and weaker global growth. The aforementioned NCI shows no such increase for either domestic nor imported coal.I have been a significant shareholder of OPG in the past but am out currently, mostly because the board is being too conservative wrt returning capital to shareholders. But I continue to monitor the company and I’m sure a more friendly shareholder policy will be instated at some point in the next year or two. The fundamentals of the business are indeed very strong, as is well documented here in historical posts. A slight drawback is that power station margins and output prices are regulated by government policy, with utility bills for consumers a major political issue. The problem is that margins need to increase to incentivise increased investment in additional capacity, whereas political expediency argues for price controls. |
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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