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I don't think it is currency. This is an INR based company reporting in USD. Since the Brexit vote it has appreciated quite a bit in Sterling terms. I doubt a dividend for a couple of years. The fall remains a mystery. There does appear to be a seller. It is always difficult to work out a seller's motivation e.g. they may simply need the money for other things.
Chief executive owns 57% and he paid more than double this price on some of his buys so would he would be pushing for divi
Yes Ravi Kaillas has certainly believed in the value of the company at a much higher price. I don't think he needs or wants dividends. This is about his third entrepreneurial venture and I understand he has been very successful before. Further, they don't have the distributable reserves unless they do some jiggery pokery like a capital reduction scheme - which would be very odd. They are still in build phase and need to retain or raise capital. I think once they hit 2GW they will become more or less self financing and can think about dividends.
Agree. What sort of profit we looking at this year, and when will be reported. Do you think company is takeover target and would ravi sell, who is the seller thats deflating the stock or is just no body is interested in clean renewable energy at moment, interesting that oil has gone up and this has gone down, guess looking for what makes this stock move whats it's trigger, gold stocks are easy as you got the gold price and same with oil, there is no commodity price for the sun and wind, although with global warming guess but what makes this stock half in price is just 3 months when there's no bad news if anything the news very good record breaking revenue cheap credit and profit what is it there must a reason
The fall may of been done to the trump effect. TIMELINE match up, was reading last night an old report from Beaufont, when price was 68p and they were saying buy with 1 pound target, it was 2 years old, the Co is in better shape but half price,?? ¿????¿???? sooner rather than later this is going to be in the 40s
SMT. Firstly profit. This is a bit difficult to judge given big ramp up this year. The starting point is the first half year's results. That was a $6m loss but there were $8m of one off refinancing and bonus costs. So underlying was c$2m profit. The refinancing was done to save $4m pa but was only done in March so only $1m saved in first half. So the second half starts at $3m (2 + 1). Last year second half revenue was about 30% higher on more or less the same operating assets. In first half 2016 about 300MW of new assets came on stream. So in the second half they had 20% more assets. Overall I would expect $25-30m additional revenue in second half. However, costs (mainly interest) might be $15-20m higher. So $10m in the second half. Add to $3m to get to $13m Less $6m for the first half takes it to $7m. I think my assumptions may be a bit conservative so $10m for full year.
I don't think the company is an obvious takeover target and I don't think Ravi would sell (but everyone has their price). Having said that there is bound to be consolidation of these Indian IPPs (particularly the renewable ones) and Greenko was taken out by GIC (Singapore SWF) albeit that was opportunistic given that GKO's price crashed when the implications of a stupid mezz financing they had taken from GKO became apparent.
The real action in my view is in 2017. They go in with 1GW and will build more capacity. It may well be a La Niña year and, unless more one offs, no $8m of refinancing and bonus costs. Could be $20m plus of profit
This provides a ridiculously low PE - as a significant proportion of investors are chasing reliable income I cannot understand why the share price is at this level. Recently purchased at these low levels to add to a small holding purchased at a higher price.
At nearly historic lows this seems a no brainer, just wondering what made this drop so much on good news really haven't seen any other share like it, mm may be really low on shares. With big buyer on the sidelines
it dropped to around 32p super quick, then there was a 100k buy which stopped the drop, has hovered around this level since, so not sure if that 100k was on the promise of more if they can keep the price down.
Found this which is of interest:- http://investinghaven.com/screening/india-stock-market-outlook-2017/ I note the sharp drop at the end of 2016 and perhaps that is one reason why MYT followed suit.
Good find St Pete, certainly could be connected, hopefully they are right and it bounces soon!
Up to 33p to buy now, move it up 0.32 without any buys
Rise today just confirms that it's the currency that's moving this stock up and down as the rupee has moved against a weak last couple days