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  • Proactive Investor by gallant02
    Fri, 12 Dec 2014 09:22:00 GMT

    Unlike India's unreliable power system, OPG Power Ventures (LON:OPG) has proved itself to be a safe and sound investment to date.
    Not only has the group produced a reliable and growing supply of electricity, it’s also generated a reputation of delivering projects on time and on budget. Building power plants that operate to a high level has become the norm.
    Since listing in 2008, it’s been growing power supply to Indian businesses and state utilities through a fully-funded pipeline of projects.
    It now operates three coal-fired power plants in Chennai, southeast India, but the next major lift in the company’s generating profile will occur in the first quarter of 2015.
    Group production is set to surge to a total of 780 megawatts as new capacity comes on stream at Chennai, southeast India and Gujarat in the north.
    Barring issues with transmission lines, Ajay Paliwal, OPG’s head of strategy, says the Gujarat plant will be up and running in the next quarter.
    “In Gujarat we are still waiting on state permission to access a main power line,” he said.
    “We will have an interim line very soon but expect the main line, which will evacuate all of our output, to be ready by the second quarter.”
    Releasing its half-year figures on Monday, in which pre-tax profits jumped to £10.3mln from £7.6mln, the firm said both sites are developing well.
    Broker Investec predicts profit before tax will be just short £21mln in the full year to March and envisages £31mln in pre-tax profit in 2016.
    The shares, up almost 70% in the year to date, valuing the business at £348mln, advanced a further 3% to 99p this week. Investec reckons OPG is worth 140p a share.
    The firm is also hoping to pay a dividend by the end of 2016.
    It looks like a perfect time to grow the business, with India and its economic promise firmly back in the limelight.
    Meanwhile, India’s president Narendra Modi has made a number of pledges to shore up India’s creaking infrastructure and put an end to blackouts.
    Modi’s mantra is “no power no growth”, which, in an electricity starved market, creates a perfect environment for firms like OPG.
    “The Indian power sector seems to be on an exciting crest of a wave,” Paliwal said.
    “There is euphoria surrounding the new government, and, with its clear majority, it is a position to roll out new initiatives.”
    Modi has already merged the ministries of coal, power and renewable energy to improve coordination and better align goals.
    Considering India's coal reserves of around 300bln tonnes are the fourth largest in the world, it’s surprising to learn that in September half of India's 100 thermal power plants had enough coal to last an average of just six days, according to the country’s Central Electricity Authority.
    Back then, stock levels were at their lowest levels since mid-2012, when hundreds of millions of people were cut off in one of the world's worst blackouts.
    OPG managed to avoid a fuel shortage by turning to a mix of Indian and Indonesian coal to keep the lights on. It is this flexibility of supply coupled with the fact its plants are near the coast that marks the company out from other generators.
    One area the business is paying more attention to is the renewable energy space.
    Solar and wind energy costs are coming down as performance goes up, and Paliwal said OPG will likely look at renewable energy as an additive to its existing portfolio in the short to medium term.
    Investec analysts summed it up when they said OPG’s results testify to strategic position in electricity generation given India’s power market, capacity increases nearing completion, and tight overall control of its financial position.
    “We reiterate our positive investment view,” said Investec. “Built on our conviction of an improving political/economic environment in India, a ‘net short’ power generation market and a jewel in the crown in the shape of OPG itself.” By gallant02
  • OPG’s relying on lighting up India for growth by gallant02
    Tue, 09 Dec 2014 08:20:00 GMT

    London-listed Indian coal power plant operator, OPG Power Ventures (OPG), is ‘building the muscle’ it needs by focusing on profitability for growth, according to Investec Securities.

    Investec analyst Harold Hutchinson retained his ‘buy’ recommendation and target price of 140p following first half results at the company.

    ‘OPG’s H1 2014/15 results testify to a continuing focus on profitability rather than a scale-orientated route to growth,’ he said. ‘We now look for a phased roll-out of the Chennai and Gujarat plants over the coming nine months, which we have reflected in our estimates.

    ‘The equity story of OPG crystallises in its strategic position in electricity generation given India’s “net short” power market, significant capacity increases nearing completion, and tight overall control of its financial position.’ The shares closed nearly 2p or 2% higher at 98p. They have risen 70% this year. By gallant02
  • Up-beat RNS by gallant02
    Mon, 08 Dec 2014 10:06:00 GMT

    A bit more like it...

    Lower coLower coal prices helped India-based power supplier OPG Power (LON:OPG) lift interim profits by 35%, while it repeated its intention to pay a dividend next year.
    In rupee terms revenues rose by 7% in the half year to September, though this was masked by the weakness of the Indian currency against sterling.
    Stated revenues dipped to £46.5mln (£47.7mln), but this was more than offset by the benefit its coal-fired stations saw from the slide in the price of the commodity.
    Lower coal costs helped underlying margins rise by to 36% from 29%, while pre-tax profits jumped to £10.3mln from £7.6mln.
    This increase was despite of maintenance shutdowns at its main plant at Chennai and flat average tariffs of 5.57 per Kwh.
    OPG currently generates 300Mw of electricity, but this will surge to 780Mw I n2015 as new capacity comes on stream at Chennai and Gujarat.
    Pre-commissioning trials are underway with commercial operations expected in the first quarter of 2015.
    M C Gupta, chairman said the 750 MW program came at a time when a time when “India and its economic promise are firmly back in the limelight.”
    “Growth and foreign investment are picking up and the rupee's recent relative stability, in my view, provides further confidence as to the investment outlook.
    “With the government's stated commitment to supporting the growth of the power sector, we intend to play our part with sustainable growth and by being a supplier of choice to our customers.
    “And we intend to commence dividends following the successful and sustainable profitable operation of our 750 MW capacity."
    al prices fuel OPG Power profits surge. By gallant02
  • Re: little bit of a dull update by gallant02
    Sat, 22 Nov 2014 08:53:00 GMT

    They are about to treble capacity, not bad for starters... None of that yet reflected in the price and they are right to focus on getting that right and also ensuring that all new capacity is selling. They lack of new sites on the horizon explains why I think the price will only double and not treble, but I can live with that prospect for now.... By gallant02
  • Re: little bit of a dull update by claude reins
    Fri, 21 Nov 2014 07:47:00 GMT

    Mmm. Its the lack of expansion plans that is NOT exciting me above the current level at the moment. I had hoped that it was waiting for the new government coming in to develop further expansion plans, but that hasn't happened as yet. Maybe a bit early to expect that and maybe going on in the background as we speak! Hope so, and then your forecasts may come to fruition. A god company in the meantime, though SP suffers from any further rupee devaluation.
    In the meantime a strong hold. By claude reins
  • Re: little bit of a dull update by king sinbad
    Thu, 20 Nov 2014 09:48:00 GMT

    I think it could have been worded with a bit more emphusiasm. but the bigger picture looks rosy, if opg make 56 million for year end march 2016, (16 months away) and with other expanding plans this should more than double from it`s current s/p. By king sinbad
  • Re: little bit of a dull update by gallant02
    Thu, 20 Nov 2014 08:26:00 GMT

    Only seems dull because these people simply deliver plans on time in line with expectations, not much more to say until the new capacity starts to show through in the numbers. By gallant02
  • little bit of a dull update by Seagull2
    Thu, 20 Nov 2014 08:05:00 GMT

    But think will get further updates over coming months. Dissapointing that ulgraded power lines haven't been installed yet and can see that causing delays. They are clearly working hard but bit dissapointing that chennai isn't up and running. Looks like revenues n production have dropped over last 6months when compared to previous 6months period ending 31st March.

    Patience seems to be order of the day and wait for full year results next july. Hopefully, will get
    multiple updates from January as company is good at keeping market informed.

    Regards
    Seagull By Seagull2
  • Tip by roco200
    Sun, 09 Nov 2014 13:40:00 GMT

    Tipped in Telegraph By roco200
  • Re: Results - sp prediction by gallant02
    Fri, 07 Nov 2014 16:13:00 GMT

    The £100m profit figure came from the brokers. Hard to say about sp because this has always traded on a high p/e, but unsure how much of this has priced in forward profit growth. All things being equal if profits treble then the sp should treble, but this is countered by the lack of news on the next stage of developing additional new capacity. Also it is a lowly traded stock, hence the need to attract new investors.

    On balance I am conservatively aiming for 150p by end 2015 and £2 the following year - minimum! I truly cannot see why we won't see such growth. By gallant02
  • Re: Results - sp prediction by holycustard
    Fri, 07 Nov 2014 15:10:00 GMT

    So, given your thoughts, Gallant02, on profits of £100m over time I wonder what your, and everyone else's thoughts for that matter, on where the sp might be over the next, say, year or two? (Personally, I think this will be more like £1.50 this time next year - esp if a divi is announced...but then, what do I know??!!)

    GLA By holycustard
  • Re: Results - CC by gallant02
    Fri, 07 Nov 2014 14:46:00 GMT

    Don't entirely agree. The latest new capacity will take profits to £100 annually so more than enough cash generation to fund growth and pay a divi. Dividends attract a new breed of investor and demonstrate confidence in cashflow - all about perception with AIM shares. By gallant02
  • Re: Results by Seagull2
    Fri, 07 Nov 2014 08:21:00 GMT

    CC with a near doubling of capacity and as a result revenues they should be in a position wbere they can fund further growth and put a dividend policy in place imho and that is what they have indicated previously. Exciting times are here now, hopefully no slippage in getting extra capacity online.

    Regards
    Seagull By Seagull2
  • Re: Results by Centre Court
    Thu, 06 Nov 2014 14:27:00 GMT

    I am not sure how important a dividend is to what is at present a growth stock. If management want to expand capacity beyond their existing plans, then they will need substantial amount of cash. It will be silly to pay dividend and at the same time go to shareholders for more funding. In my opinion focus on rapid expansion of generation capacity must be the name of the game over the medium term. By Centre Court
  • Courtesy of Melf from ADVFN by roco200
    Thu, 06 Nov 2014 10:14:00 GMT



    From BBC Business Live this morning.

    08:55: INDIA BBC Radio 4 When is India going to be as rich and successful as China? "There's a lot of buzz about India... India which was falling off the global radar is back in the gaze of the global investor," the finance minister Arun Jaitley tells the BBC's Yogita Limaye. He says the new government's economic reforms mean "it's only a matter of time before you see the investment, the impact on the ground
    By roco200
  • my personal research by davidelliott
    Mon, 24 Nov 2014 22:17:05 GMT

    If the 5.85 EPS broker forecast is hit with the PER we are on now that would give us a shareprice of 130-140ish so im looking at getting in the next week or so
  • Someone likes OPG! by grahamscotland
    Mon, 24 Nov 2014 15:50:07 GMT

    link

  • Anyone Remember ESSAR ENERGY by MattyBoy1965
    Tue, 11 Nov 2014 10:36:29 GMT

    Anyone else get burnt with that other Indian Energy Company 'ESSAR ENERGY', which conveniently forced investors to sell their shares back to them when they were available on the cheap, and in so doing 'robbed' investors of any future upside whilst making the 'Chuckle Brothers' millions!!!!
  • Daily Telegraph by MY21
    Sun, 09 Nov 2014 09:12:40 GMT

    OPG signs new power deal: OPG Power Ventures [LON:OPG] a power company based in India and listed in London, offers U.K. investors the opportunity to benefit from power shortages in India. The Aim-listed company secured a deal last month that underpins future revenues and profits. The utility company has agreed to sell its power output in Chennai to the Tamil Nadu Generation and Distribution Corporation at 5.50 rupees per kilowatt hour until 30 September 2015, a similar level to existing profitable deals. The full year results announced in May underlined the investment case. Pretax profits jumped 70% to £17.95 million, on revenues up 78% to £98.8 million during the year ended March. The company is growing quickly through a vast power plant construction project. The main input cost is the price of coal, which is currently falling. The final issue is currency risk around the Indian rupee, which has now stabilised, after sharp falls last year. That said, the company continues to deliver and the shares are up 13% on our initial recommendation (Buy, 94p, 22 May) and we retain that recommendation. OPG Power Ventures at 107p. Questor Says “Buy”.
  • 2 big trades by davetherave1
    Wed, 05 Nov 2014 13:00:31 GMT

    any one any idea if those two big trades at 11.00am today are buys or sells?
  • OPG by CHEQUEMATE
    Tue, 21 Oct 2014 20:08:56 GMT

    A couple of months old perhaps, but anyone invested here may find this interesting:

    link

    I am not invested here at present, but have OPG on my watchlist and currently doing more indepth research before making a decision whether to invest or not. After last weeks what appeared to be a possible meltdown on the markets generally I am understandably a little more, no make that a lot more nervous. This is one of Robbie Burns (The Naked Trader) holdings, which is always encouraging. Good luck all and regards CM
  • Very encouraging update by VanVan
    Tue, 26 Aug 2014 14:57:48 GMT

    All looks good. Well managed Co. with exciting prospects. Under researched and under valued IMO. Chart looks good as well
  • Great run by jollyspeculator
    Thu, 05 Jun 2014 19:07:44 GMT

    but more than fully priced now imv
  • Results by only1sonofkong
    Wed, 21 May 2014 07:10:19 GMT

    Nice reading, hopefully leads to a strong blue day and smash through the £1 mark, GLA
  • Elections by MiningPower
    Sat, 17 May 2014 08:13:14 GMT

    Apparently a new business friendly government in India with a massive majority. Indian stock market seems to like them anyway....
  • Results by only1sonofkong
    Fri, 16 May 2014 12:54:19 GMT

    On the 21st May then, hopefully interesting reading and should give this one a push forward
  • opg by jange
    Tue, 18 Feb 2014 14:03:56 GMT

    AIM-listed, Indian power group OPG Power Ventures (LON:OPG) has reached the inflection point in its development. That’s the view of City firm Shore Capital, which repeated its ‘buy’ rating following the company’s third quarter update. In it, OPG revealed its two latest electricity plants are on time and on budget, adding that its full-year results look set to meet the City’s forecasts. Shore analyst Robin Speakman said the update confirmed OPG’s development is going to plan, while the underlying business performance is around 20% ahead of his initial expectations. He points out that revenues are set to rise from March 2013 to March 2016 by 5.6 times, with adjusted pre-tax profits multiplying by 6.6. “Management has delivered on all OPG’s stated strategic objectives. The mature valuation for the company is now coming into focus based on high visibility,” Speakman said. “We point investors towards OPG’s high returns on capital (return on equity rising to 50% in FY2016F) and reducing valuation risk in cash flow analysis.” Investors listened to the ‘buy’ advice, sending the share price up 4% to 81.8p.
  • Entry point by B17NNS
    Mon, 17 Feb 2014 12:38:11 GMT

    Time to get in?
  • Turning point by MiningPower
    Mon, 17 Feb 2014 10:41:29 GMT

    Quite a lot going on here recently - new analyst coverage, a long term offtaker providing diversification, strong operating metrics and its largest projects on/ahead of schedule - major turning point - onwards and upwards.
  • Long term tariff for C3 by Hammer29
    Tue, 28 Jan 2014 07:56:48 GMT

    Really great RNS today. Shows OPG is here for the long term and adds in another de-risk factor. Should help the sp re-rate in 2014 that many, including Investec, expect. Hopefully that's what has started last week. Well done OPG! Always good with news flow