OPG to pay dividend soon

DividendMax Ltd.

OPG to pay dividend soon



Revenues of £46.5m with underlying rupee revenues up 7%

EBITDA margin of 36% up from 29%

Pre-tax profits up 35% to £10.3m from £7.6m

Earnings per share up 47% to 2.2 pence from 1.5 pence

Gearing of 56% with projects now entering the commissioning phase


Plant Load Factor (PLF) of 88% in H1 FY15 in spite of maintenance shutdown at Chennai

Average realised tariff constant at Rs5.57 per kWh

New agreement for additional sale of 255 MW to TANGEDCO at Rs5.50 per kWh until Sep 2015

Imported coal booked for Chennai until March 2015 and first deliveries received for Gujarat

480 MW Projects - pre-commissioning trials underway; commercial ops expected to commence in Q1 CY2015

Gujarat - construction of interim transmission line now complete

Commenting on the results, Mr M C Gupta, Chairman stated:  "Another solid operating performance and we are now putting the final touches to our 750 MW program. We can look forward to our new facilities being ramped up during the course of next year at a time when India and its economic promise are firmly back in the limelight. Growth and foreign investment are picking up and the rupee's recent relative stability, in my view, provides further confidence as to the investment outlook. With the government's stated commitment to supporting the growth of the power sector, we intend to play our part with sustainable growth and by being a supplier of choice to our customers. And we intend to commence dividends following the successful and sustainable profitable operation of our 750 MW capacity."

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