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Just shows this market is backwards now. Even with that info out there people still sell. If they are not flying nobody wants to know. OPG could release this info tomorrow morning and I bet you 15p would be getting paid this week but silence and the fact it does not offer a profitable day trade to the 99% brigade in shares now means for now hardly anybody will touch despite it potentially being the best value stock on the whole exchange.
Good thing is the longer they take to release an RNS the closer they are to releasing full year results and a further increase in profits.
Final quarter is always the most profitable and now only 6weeks to year end.
Crazy to think that the very good Q3 results will have been posted a week ago on BSE and they take so long to issue an RNS, all designed to keep the price down until the II are cleared imo, if that is the case i think its a smart move by the company, especially if they mop a few million up at the current ridiculously undervalued SP.
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Crazy that auction buyer stuck 50k at 11.7p and of course they filled it when there is a seller at 11p and they could have saved £350 by waiting until 8am and paying 11p at the open, good news for that is Cenkos have pushed up the bid and now we are seeing nibbles which is what is needed
Given history they might not tell the market for ages. Trying to remember last year when we had the BSE info before they released the UK rns it was def more than a week, more like 1-2 months, anyway it's been 600k of buys since the info was released and when the seller is out whoosh, I cannot see it any other way.
RNS on Monday then on the back of figures and increased profit, momentum will start to build
The II policies really do present OPG as one hell of a bargain to investors, once the II sellers are cleared because of their green agenda this will triple in price and still appear cheap. With coal forecasted to drop another 20-30% during 2024 and electricty demand in India increasing 10% per annum i think OPG will return to making £25-30million profit over the coming 12months
The most important thing is they will come in above house broker forecast. Sick of stocks making fortunes but because they are below forecasts the shares drift when they are bargain. It's about time this was given a fair rating. A lot of people have no idea that we know the results before they are issued until they read the RNS list every morning at 7am and when finally OPG does tell the UK market that they are a crazy bargain there will be a flood of buyers and hopefully by then no overhang too. Imagine having your money in a fund that is selling this below 11p on this numbers !
Ah yes their FYQ4 is 31 March. I'm confusing FY and calendar year. But the question remains, surely EPS for the period multiplied by shares in issue cannot normally be almost as high as total income?
Q3, we still have Q4 to look forward too, profit in Q4 will be alot higher than the £6.7million made in Q2&Q3.
Trying to fathom out the accounts.
So 1 lakh = 100,000 rupee ~ £1000 and 1 rupee ~ 1p
Q4 23 income was therefore ~ £50m
Q4 23 profit ~£3.3m pre tax, ~£2.7m after tax
Q4 23 EPS ~11 Rupee or ~11p which is the same as SP
Mcap is £44m, ~404m shares @ 11p
So how can Q4 EPS X shares in issue be almost as high as total income from operations?
Another 200k bought at least a few people see the obvious value. Now to try and work out if it really is cash of over £50 mil v debt of £22 mil v 9 months profits of £6.9 mil v market cap of £40-45 mil this weekend
The market sure is bonkers when punters would rather buy other stocks with the same valuation that lose £10 million a year not make it and are running out of cash or burning lots of it.
I dont think the company care about the holding company thought that for a while
I suspect they make there money from the operating company via salaries and other perks
They will never buy back shares living in cuckoo land if you think they are
Bubba what do you make of the results
I guess just divide it all approx by 100
Some people need their heads examined 😂
Https://www.bseindia.com/xml-data/corpfiling/AttachLive/89b1621b-fd33-438a-b7ef-8d05392582e5.pdf
Mad, you get all this info before it's released in the UK and still nobody is interested. Just one trade today and somebody sold, at least we know what is coming. No doubt when they do issue a RNS there will be the usual stampede to get in much higher
If i was the Guptas and all the institutions had sold me out because of some silly policy i would not be rushing to publish positive information especially if i was in it for the long term as they clearly are.
I personally think any offer to buyout would have to be north of 50p minimum.
Makes you wonder eh. 100k buyer 4 times and they paid 11.24p for last one yet a mm has just dropped to 11p. It's almost full offer online but you can still pick up 150k online at 10.999p
Yeah I think a bid will come out of the blue and they might initially refuse it. Unless they use the cash resources to do buybacks it feels like it will never trade at fair value. If Cenkos said 27p and OPG are going to smash their forecast then what do they say next 30-35p and people are selling below 11p still, somebody else has seen the value though 2 x 100k delayed buys. Value always outs in the end
The fund managers policies are certainly causing a huge hangover here but ultimately there policy is there loss and true value here will be realised soon, the 30p sounds attractive now but the Guptas holding half the company know better than anyone the true value here is far higher good thing is the major holder M&G are gone it may need the company to announce a shareback at such discounted rates to kick this on.
Think I've finally understood why the lack of move up on OPG despite the positive results and all the Coal stocks in India booming for a good few months now.
We obviously had M&G Investment divesting of 47,699,617 shares (~12% stake) last year because they no longer invest in coal related stocks as part of their Investment Policy. Of those, 40,000,000 found their way to Prana and Talisman GP (still unsure who is behind these entities). The remaining 8,000,000 shares were absorbed by us/retailers in the market.
The 4th largest shareholder is Pension Services Limited (13,177,222 or ~3.3% stake). Per companies house this was the Investment Manager of the British Steel Pension Scheme with the relationship terminated last year and the Pension Services Limited company formally dissolved in September 2023. Legal & General were appointed the new investment manager of British Steel Pension Scheme in September 2022 which means they are most likely in charge of the equities side including the legacy investment in OPG. In June 2022, Legal & General made a commitment to not invest in coal related stocks so OPG doesn’t meet that. Which means they are more likely in the process of selling / or have sold the ~3.3% stake.
Close Brothers Asset Management (6,921,819 or 1.7% stake) also have a coal exclusion policy and have been trimming their OPG exposure recently. They also seem to have a lot of internal problems (refer Close Brothers Group share price) so again wouldn’t surprise me if they are in the middle of liquidating the full position.
Time for the Guptas to sell this in its entirety and we would all be very happy with Adani last time in 2020 offering a rumoured ~£120m for OPG or 30p per share.
EPS exceeding share price can only be a good thing with coal price forcasts anticipating a further 25-30% drop in coal prices during 2024
With OPG's increased PLF it will add further profit to the £6.4million made over the last 6months.
If I read it right , Isn’t the EPS increase a good guide to improved performance
Adding £3milliom profit per quarter ensures the cash position quickly goes from strength to strength especially with coal prices on the way down again.
Have you worked out what the net cash position is Ronald. I'm finding it difficult to understand but then I'm no accountant and it is in "rs in cr" (A crore denotes ten million and is equal to 100 lakh)...they cannot make it too easy for us can they. Profit wise just brilliant and OPG as always remains amazing value