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Https://www.bseindia.com/xml-data/corpfiling/AttachLive/69c08ca8-0e4a-4709-aaa5-3f913a53287f.pdf
We'll get a sneak preview as always of the PBT which of course will be excellent but sadly in this market nobody has the patience to hold so the mm's have had no reason to let the price move to a more fair valuation of 20-30p
Nice move up today.
Not quite sure why as today's buying was mostly done at 11.4p-11.6p - with one rogue small buy at 12p.
Perhaps there'll be some late trades reported tomorrow, or just maybe - hallelujah! - the seller is finally out.
Definitely turning and not before time, bonkers how cheap this is. Day by day stocks issue trading updates and their EBITDA and their ratio's are miles bigger than OPG, one stock had around £28-29 mil but the market cap was like £150 mil. It's about time this got a fair rating
Guys,
Do you think that Gupta's family, who has a controlling interest in the company, is ever going to pay dividends or buy back shares?
As far as I read Outlook, they are going to use cash for M&A instead - "the Company has significantly strengthened its balance sheet and liquidity position which provides OPG with the financial strength and latitude to pursue new growth opportunities in energy transition."
Will see next results
But I do not see it
Never heard direct language about issuing dividends or buybacks
It is very understated
"Returning value to shareholders" is paying dividends
I have to admit I just cannot see where all this stock is coming from
Unless we have holders just under the reporting threshold selling
Ronald
Anyhow I have watched this from 18 mins to 24mins when asked
I hear no inclination to do Buybacks or dividends this year
Focus is on plant reinvestments, payment of coal purchases
And laying down debt .
Company is not ambitious enough for me , it is steady as it goes for this year
Watched it twice hazbeen and they didn't say anything of the sort.
Why ? Because they will make 25-30million profit this year it's not rocket science
Ronald,
you keep talking about dividends, why?
The company has said clearly no dividends as debt payback is priority
Have you watched the last presentation?
Has to be all the ii selling up due to WEF policy so good on the Guptas holding news back when they can once the ii are cleared i expect a flow of positive updates and dividends to start to flow
11.09-11.262p now, need somebody to step in and buy size here...in this market a miracle
Sorry 11.315p
That is my buy 150k at 10.315p Ronald.
One day there will be no overhang and these prices will make us fortunes
You selling Davey ?
Currently for 50k quotes the online spread is 11.5-11.55p now that is a spread.
100k mine 11.42p and 150k at 11.315p will show in a hour also mine of course
Sadly this whole game seems to be action for one day on good=great news then the stocks go dead. Obviously it does not help there is always 250,000 on the offer online all the time. I agree it's annoying you can have such large buys that does nothing to the price but more importantly never a holding Rns never a indication of where the stock is coming from.
Another false finish 24p worth of shares @12p to mask the large background seller.
With no RNS i am now starting to have doubts
Could be the Guptas trying to make a discreet exit something is amiss
Another 6 weeks until the next trading update
Don't envisage alot in the meantime
No follow thru today
I expect as soon as they announce a trading update for Q1 they will increase their target price to around 35p
A strong start to yesterdays trading with a 15% jump shame it didn't hold onto all those gains, hopefully see a similar start today
Agreed - I suspect Cavendish will wait until (1) the finals are announced, or (2) when they eventually release a note with forecasts for the current year to March '25, which aren't out yet, and will then raise their target price from 27p.
Loads of 1 share Buys going through. Must be code for Buy, Buy, Buy!
Thanks Rivaldo Cavendish being very shy again with the revised 27p based on 2.5x earnings
most companies would be looking at least 5x earnings so a target price of 55p-65p should be expected
Cavendish have a 27p target price - over 100% upside from here. They've today raised their revenue forecast to March'24 by 22% to £162m, and their EBITDA by 34% to £16.0m.
They conclude:
"We estimate that the replacement cost of OPG’s Chennai plants would be around £325m based on the projections by the Indian government for additional capacity to be installed in India by 2030. Meanwhile, on the operating cost side, we note that coal prices remain significantly lower than their levels from FY22 and FY23, with further supply expected to come online during the next two years. With favourable trends on both electricity demand and costs, we believe that OPG is well positioned to return to annual EBITDA of £3040m in the medium-term, a level which was achieved in each of FY19, FY20 and FY21.
- Investment conclusion:
Based on medium-term prospective EBITDA of £30-40m, the current valuation represents a multiple of 1.4-1.8x. The company also benefits from a low degree of balance sheet leverage relative to other electricity utilities in India, as well as an asset base which positions OPG at the lower end of the cost curve for Indian electricity producers. We reiterate a target price of 27p, which would represent a 2.5-3.3x EBITDA multiple based on our mediumterm estimate range of £30-40m EBITDA."