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Quick return when this re-rates after the temp suspension
Final day before the temp suspension.
Knowing how the the economics have changed and the positive outlook just announced for 2024 this should go into the weekend 14p+
When trading resumes after the suspension expect lots of positive newsflow and the shareprice to break 20p+
Forecasted sales growth for y/e24 set be have increased 151%
Coal prices down and energy prices up in a thriving Indian ecenomy all adds to the profit
2024 should see a return of dividends
This is great.news worth reading
The Government of India, in order to reduce dependence on imported coal, has opened the mining sector to private players and traders. In the long term, this will lead to an influx of cheaper Indian coal in the domestic market.
During the current fiscal year, cumulative electricity demand has increased by nearly 9 per cent y-o-y. Due to this consistent growth in power demand and in the absence of any major increase in capacity additions, India is still dependent upon coal-based generation. The lower-than-expected addition in FY24 from the renewables sector will lead to an increase in Plant Load Factors of thermal power plants in the country.
12.80p to buy, very tight float
Premium to buy now
Massive uplift in forecasted turnover and profit for 2024
Can't buy nothing, directors holding more then 52% of the shares, shorts are in trouble
Looking forward to the re-rate but still alot lot more upside to come 40p+
"has improved with international coal prices having softened significantly "
Meaning company will be making significant profits! Once results published and comes back from suspension, share price will be significantly higher then todays price
As a result of the delay to the audit process, the Company's ordinary shares will be suspended from trading on AIM with effect from 7.30 a.m. on Monday 2 October 2023, pending publication of the FY23 Accounts. The temporary suspension from trading on AIM will be lifted once the FY23 Accounts have been published.
Notwithstanding the suspension of trading in the Company's ordinary shares, with effect from 2 October 2023, the Company will continue to make announcements as and when there are any developments that require announcement in accordance with its obligations under the AIM Rules and other applicable regulation.
22 September 2023
OPG Power Ventures plc
("OPG", the "Group" or the "Company")
Trading update, Update on Annual Accounts and Suspension of shares from trading on AIM
OPG Power Ventures plc (AIM: OPG), provides the following trading update and an update in relation to its audited annual report and financial statements for the year ended 31 March 2023 ("FY23 Accounts").
Macro Outlook
In the current financial year, the macro environment has improved with international coal prices having softened significantly and the electricity demand trend remaining healthy due to an improvement in economic activity. The Government of India, in order to reduce dependence on imported coal, has opened the mining sector to private players and traders. In the long term, this will lead to an influx of cheaper Indian coal in the domestic market.
During the current fiscal year, cumulative electricity demand has increased by nearly 9 per cent y-o-y. Due to this consistent growth in power demand and in the absence of any major increase in capacity additions, India is still dependent upon coal-based generation. The lower-than-expected addition in FY24 from the renewables sector will lead to an increase in Plant Load Factors of thermal power plants in the country.
Trading Update
As announced in the trading update on 20 June 2023, the Company reported total generation for FY23 of 1.5 billion units and repayment of Non-Convertible Debentures totalling £19.7 Million (₹2 Billion) in May 2023. The Company's FY23 financial results are expected to be in line with market expectations.
With a continual downward trend in coal prices, the industry and the Company are seeing significant growth and OPG expects materially increased generation and revenue in FY24 with plant load factors expected to increase to approximately 58%. In addition to the Long Term Power Purchase Agreement with Tamil Nadu State utility for 74 MW, the Company secured a contract in September 2023 with another State utility up to 280 MW at an attractive tariff which is valid for five months during H2 FY24.
OPG is pleased to announce that as at 31 August 2023 the Group had cash and cash equivalents of £42.4 million and gross debt of £23.8 million. Due to realisation of receivables, net cash as at 31 August 2023 was £18.6 million, compared with net debt of £9.3 million as at 31 March 2023.
The numbers mentioned in this section are unaudited.
Update on FY23 Accounts
The Company is required under AIM Rule 19, to publish its FY23 Accounts, by 30 September 2023. There has been a delay in the financial reporting close process for the FY23 Accounts and as a result the audit has been delayed. The annual audit for FY23 is still ongoing and the Company currently expects the audit to be completed and the FY23 Accounts to be published by 31 October 2023.
As a result of the delay to the audit process, the Company's ordinary shares will be suspended from trading on AIM with effect from 7.30 a.m. on Monday 2
Should reflect very well when the interims are announced.
Hi, here is something I thought you might find interesting: -
https://uk.investing.com/news/commodities-news/china-india-lead-asias-biggest-hydropower-crunch-in-decades-3163744
India has cut daytime power outages to nearly zero this year despite record demand, mainly because of its renewables build-up over the years. Still, it was forced to seek imports of more expensive natural gas in a bid to reduce pressure on its coal power fleet.
"The main utility of hydro is to support wind and solar. If hydro itself becomes unreliable, India may have to think of alternatives including addition of more coal-fired power," said Victor Vanya, director at power analytics firm EMA Solutions.
To april 2023 EPS =5p not bad for a share trading at 8.5p when operateing at such a low PLF
can not wait for the interim results in Decmber
6months from april at a 70-90% PFL with energy prices up 35% on last year.
Should finally see the true value being added here
Supposed by an annual report out , but cannot find it on their website
Anyone have link ?..TIA
Looks like from yesterdays fall, it may not have been great ,if indeed it was related to this
The other alternative is that with strong electricity demand, a bounce back in PLF requires additional working capital in the short term, to finance the extra output. Remember PLFs were very low until recently. It’s likely though that the sharp fall in coal prices, hike in electricity prices and high PLFs will produce good profits and cashflow over the FY.
I was hoping there would be no need for this if the company is cashflow positive
Just rolling over the debt
Taken from A D V F N poster. Thanks Tim000
It seems that OPG is issuing a new, BSE listed, 50 crore (ca £5 mn) NCD, with the same maturity date (Aug 2026) as the existing 75 crore NCD. We will have to wait to hear what the proceeds will be used for, but in view of the company’s strategy of deleveraging, my best guess would be to repay some of its existing bank term loans.
The bond ISIN number is INE0D8F07048
Newcastle at $142, up from lows of around $1.24 in June
Natural gas now around $3, up from $2 in April
Oil at $87, up from $64 in June
ICI 4 steady at $51, where it's been for a few months now! Let the low Indonesian coal prices continue!
Good news Tim should see a break above 10p this week
Indian production of non-coking coal increased by about 100mn tonnes to 830mn tonnes in FY 2023 and is targeted to increase by another 100mn tonnes this year; the extra output will be targeted at meeting the needs of gencos. Further large increases in production are planned for the medium term. By contrast, there is currently a ban on new coal power plants. So the domestic power market is rapidly transitioning to one of excess coal supply and sharply falling production costs, leading to cheaper energy. OPG should be a major beneficiary, in terms of high PLFs and cheap inputs.
The June NCI was published today. The full release can be found on the Coal Ministry website under the National Authority section. Middle grade non-coking coal prices declined 10% from April to June. Auction prices (which OPG hopefully is participating in) will have declined more sharply.
Let’s hope that there are further Director purchases so the numbers become more meaningful. I wouldn’t object to an eventual offer from the Gupta family, I doubt the institutional shareholders would accept a lowball offer.
I agree this particular transaction was just an individual director buying shares, and 75000 is not a significant number either at the current SP.