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  • Re: Broker target 130p sp by oldernowiser
    Fri, 17 Apr 2015 17:26:00 GMT

    I was surprised that the update did not result in a more positive move for the sp. It has been over 100 before now with execution risk still relatively high. I think this is definitely one to hold for the longer term. So far they have pretty much hit all their targets and have big plans for the future. By oldernowiser
  • Broker target 130p sp by gallant02
    Fri, 17 Apr 2015 14:14:00 GMT

    Hardly reflects the new capacity, but will do for starters...

    "India-based power generator OPG (LON:OPG) is about to be transformed, says cantor Fitzgerald, with execution risk about to fall away on the completion of 480MW of projects to take total capacity to 750MW.

    Cantor believes this means most of the real risk is out of the way but the shares do not yet reflect this.

    Positive changes in the wider Indian economy are also being overlooked. Buy with a target price of 130p, say the broker." By gallant02
  • Re: RNS: Operation Update by gallant02
    Tue, 14 Apr 2015 12:16:00 GMT

    About time we heard something, initial market response lukewarm.... By gallant02
  • RNS: Operation Update by tasagil
    Tue, 14 Apr 2015 09:05:00 GMT

    Looks positive, buy for the future! By tasagil
  • No news? by gallant02
    Wed, 01 Apr 2015 15:43:00 GMT

    The last update stated that 300 MW Gujarat - expected to commence operations in early March 2015 &180 MW Chennai IV - expected to commence operations in March 2015, so strange we haven't had a RNS confirming such.

    Both should be fully ramped up by end Sep when profitability should rise sharply, poor if they are awaiting y/e trading update to remind the market of this news.... By gallant02
  • Re: update by Tax Inspector
    Fri, 27 Feb 2015 18:40:00 GMT

    Trading update pretty much as expected. Good to see ramp up of capacity in March and beyond.

    Just don't understand why this was released after trading had closed and on a Friday. Let's hope the journos pick up the story over the weekend to ensure share price momentum on Monday. By Tax Inspector
  • update by king sinbad
    Fri, 27 Feb 2015 17:16:00 GMT

    OPG Power Ventures plc

    27 February 2015

    27(th) February 2015

    OPG Power Ventures plc

    ("OPG", the "Group" or the "Company")

    Trading update for the three months ended 31(st) December 2014

    OPG (AIM: OPG), the developer and operator of group captive power generation plants, announces the following trading update for the three months ended 31(st) December 2014 ("Q3 FY15").

    Highlights

    -- Average Plant Load Factor (PLF) of 94% and average tariff of Rs 5.71 in Q3 FY15;
    -- 300 MW Gujarat : 150 MW unit I synchronised, plant expected to commence operations in early March;

    -- 180 MW Chennai IV expected to commence operations by April 2015
    -- Over 10% increase in tariff on 55 MW Group Captive sales in Tamil Nadu
    Operations Summary


    Parameter Quarter ended Nine Months ended Year ended
    = =
    31 Dec 30 Sep 31 Dec 31 Dec 31 Dec 31 Mar
    14 14 13 14 13 14
    = == == == ==== ==== =
    Generation (million
    units)
    Chennai I 167 115 161 429 493 646
    Chennai II 173 158 178 500 512 668
    Chennai III 145 152 178 457 355 527
    = == == == ==== ==== =
    Total (million
    units) 484 425 518 1387 1360 1,841
    = == == == ==== ==== =

    PLF (%)
    Chennai I 98 67 95 84 97 96
    Chennai II 102 93 105 98 101 99
    Chennai III 82 86 101 87 88 92
    = == == == ==== ==== =
    Average (%) 94 82 100 90 96 96
    = == == == ==== ==== =

    Tariff (Rs/kWh) 5.71 5.58 5.54 5.61 5.55 5.55
    = == == == ==== ==== =

    Power generation in Q3 FY15 was 14% higher than the immediately preceding quarter and 7% lower than in the previous year following the effect of planned shutdowns. For the same reason, average PLF across the three operating units for the nine months to December 2014 was 90%. Average tariffs have remained constant.

    Average load factors for the three units in January 2015 were above 90% and overall, we expect an average PLF of approx. 90% for FY15 at the Chennai plant as a whole.

    Projects

    300 MW Gujarat - expected to commence operations in early March 2015

    With the plant now synchronised with the grid, the plant is expected to commence operations early in March 2015, selling power under the Group Captive model to industrial customers using an interim transmission line whilst the second 150 MW unit is expected to be synchronised during the next quarter. Ramp up of the plant is now expected by Q2 FY16.

    180 MW Chennai IV - expected to commence operations in March 2015

    This unit is in the final phase of commissioning and the Company expects to start operations by April 2015. Sales are to be to TANGEDCO until September 2015.

    Domestic coal supply unaffected by ongoing coal block reallocation

    Following the de-allocation of coal blocks under a Supreme Court order last year, the Government of India has established a process for re-allocating blocks or mines through a series of bidding processes. We were not affected by the de-allocation as our domestic coal, which has in the past made up between a third and half of our coal supply at prevailing market price, is provided to us under a linkage arrangement from mines operated by Coal India Limited. Those linkages remain in place and all of the domestic coal we anticipated during the quarter was received by us. We continue to maintain our current track record of no generation outages on account of fuel shortage.

    Interest Rate reduction by Reserve Bank of India ("RBI")

    The RBI announced a 25 basis points cut in benchmark interest rates in January 2015. We expect a corresponding rate cut to be effected across our plants in the next quarter.

    By king sinbad
  • Re: Big Question- will investors see a by gallant02
    Fri, 27 Feb 2015 10:10:00 GMT

    They said that they would pay a divi once the new capacity was up and running, we are unlikely to hear anything on a divi for min 6 months I would have thought.

    I prefer to learn of plans for the next stage of growth and that new capacity remains on track. By gallant02
  • Big Question- will investors see a by Seagull2
    Fri, 27 Feb 2015 07:30:00 GMT

    Dividend being announced in it's results as company has previously indicated a desire to start paying dividends. No matter how small the significance of company announcing commencement of a Dividend would be a major milestone for the company and signal the coming of age of the company imho. I believe sp would respond very favourably also.

    Good luck holders

    Seagull By Seagull2
  • Re: Only three days to go!! by LuckyHooker
    Wed, 25 Feb 2015 07:46:00 GMT

    Personally, I struggle with the idea that it could be a good omen that a trading update is due in three days' time.

    After all, that criteria applies to all trading updates, three days before they are due.

    LH By LuckyHooker
  • Only three days to go!! by tasagil
    Tue, 24 Feb 2015 08:48:00 GMT

    Trading update due Feb. Not much time left! Is this a good omen? By tasagil
  • Financial Calendar by roco200
    Thu, 12 Feb 2015 10:42:00 GMT

    A forward looking financial calendar is now featured on the Co web site.
    Trading update due this month. By roco200
  • Re: OPG Power to grow with India says br... by king sinbad
    Fri, 06 Feb 2015 16:15:00 GMT

    Its always best to be conservative with new projects. I totally agree I think this should have a lot more upside than £1.50 By king sinbad
  • Re: OPG Power to grow with India says broker by JJHBev
    Fri, 06 Feb 2015 16:08:00 GMT

    I hope that the Investec revenue forecasts prove to be very conservative.

    In the 6 months to end Sep 2014 the revenue from Chennai I, II & III was £46.5m – and this was with Chennai I offline for a month and a £:INR exchange rate of approx 100 against approx 94 now.

    So IMO Chennai I, II & III should generate £100+m pa of revenue on an ongoing basis. With Chennai IV on stream with an additional 180MW that should rise on a pro rata basis to £180+m. (nb OPG has already agreed a tariff for Chennai with TANGEDCO through Sep 2015 at R5.5 per kwh).

    I assume Invesco’s figure of “£222m in the current year” is for March 2015-2016. If Chennai in total can achieve something around £180m that would mean Gujarat has to achieve only £40+m to get to Invesco’s target. We have no idea as yet what the tariff will be for Gujarat or how long the ramp up will take but I find it really hard to imagine that for a 300MW plant it will be only £40m.

    Gujarat at 300 MW is 1.3X the size of Chennai I, II & III combined – so what will it generate????

    Equally I believe – and sincerely hope! – that the profit figures of £40m & £46m will prove to be conservative.


    Anyway, all that is in the future. Meanwhile we sit and wait. Maybe we will not hear anything now until the next trading update? (which was on 17th Feb last year)
    By JJHBev
  • OPG Power to grow with India says broker by gallant02
    Fri, 06 Feb 2015 12:35:00 GMT

    Profits set to more than double but sp target up 50% from now, hardly bullish...!

    "Indian electricity supplier OPG Power (LON:OPG) has had its share price target raised by broker Investec ahead of the commissioning of two coal-fired power stations.
    The new plants will triple OPG's output and the broker expects this new capacity to lead to a doubled profits by 2017, lower debts and the start of dividend payments.
    Cash flow should also be sufficient to fund a move into other sources of power such as renewable.
    OPG currently produces 230Mw from three coal-fired plants. Investec expects the two new stations, Chennai IV and Gujarat, to begin commercial operations before the current financial year-end in March with Gujarat ramping up to full commercial activity in the following months.
    When running at full tilt, output will rise to 750Mw.
    Backing up the broker’s optimism is the situation in India where per capita demand for electricity is rising strongly and supply remains constrained.
    “A new economic outlook for India, propelled by a combination of Prime Minister Modi’s economic policy and the monetary discipline of India’s Central Bank (RBI), adds credibility to the country’s prospective economic and infrastructure resurgence,” Investec added.
    “OPG is likely to ‘grow with India’ and consider investments across a broad technology spectrum from fossil-fuel fired power plants to renewables.
    “We see a strong rationale for OPG to participate in this process. It would involve OPG gradually becoming a multi-technology electricity generator, with diversification benefits in terms of operations,” said the broker.
    Sales are predicted to rise from £110mln in the year to March 2014 to £222mln in the current year and £266mln in the 2016/ 2017.
    Over the same period, profits will rise from £21mln to £40.6mln and £46.3mln, the broker forecasts.
    OPG has already stated its intention to pay a maiden dividend after the 750Mw portfolio has bedded down.
    Investec repeated its ‘buy’ recommendation and raised its price target to 150p from 140p. By gallant02
  • Drift by Ctw2014
    Thu, 16 Apr 2015 09:13:33 GMT

    The continuing drift in sp despite the good news flow is a bit baffling, but it can only be a matter of time before things pick up here in my view. Earnings are forecast to nearly double by the end of this financial year which will put the p/e at around 9, with further improvement to come in the following year. DYOR of course, but I can't see how this cannot go up now the new power stations are coming on stream.
  • RNS by Ctw2014
    Tue, 14 Apr 2015 18:47:35 GMT

    Gujarat has begun commercial operations and Chennai IV due to start at the end of this month. Looking good!
  • RE: Even better price by Z4cruiser
    Tue, 07 Apr 2015 14:31:40 GMT

    The third quarter trading update contained the news for the share to advance. The fact that it hasn't, or rather has yet to, presents a good buying opportunity. The drift down in price makes buying even better.
  • Holycustard by Ctw2014
    Tue, 07 Apr 2015 11:21:28 GMT

    Thanks for that reassurance - I was beginning to wonder!
  • RE: Even better price by holycustard
    Tue, 07 Apr 2015 11:07:01 GMT

    Just top reassure you, you aren't talking to yourself, Ctw2014, I agree this is a great time to top up. In fact I'm not really sure why there's been the drift in price, quite frankly, with the likely good news flow which is due.
  • Even better price by Ctw2014
    Tue, 07 Apr 2015 10:21:03 GMT

    Topped up to average down here given the virtual completion of projects and the expected jump in revenues/profits.
  • RNS by Ctw2014
    Tue, 03 Mar 2015 18:32:00 GMT

    Decent trading update on 27/2/15. Everything on track for a major increase in power output and profits literally within weeks. Can't be long before the share price starts to reflect this.
  • 3rd Quarter by Ctw2014
    Fri, 13 Feb 2015 10:24:37 GMT

    ....trading update due this month.
  • Doubled up by Ctw2014
    Thu, 12 Feb 2015 10:31:29 GMT

    Just transferred some cash from a cash ISA and put some of it on this. I would be amazed if this doesn't move up on news flow as the new plant is commissioned and comes on stream, which will happen soon baring any disasters.
  • Good by Ctw2014
    Tue, 13 Jan 2015 13:24:11 GMT

    .... Buying opportunity at this price. Wish I had some spare cash!
  • Big buys by Ctw2014
    Wed, 07 Jan 2015 09:54:52 GMT

    Quite a few large buys over the last couple of days that look like they are from the same buyer, so that is a good sign
  • 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”.