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Orient Green Power Company Ltd Stock Analysis

Small Cap
Evaluated by 573 users | BSE: 533263 | NSE: GREENPOWER |
Power Generation/Distribution
Orient Green Power Company was incorporated under the Companies Act on December 6, 2006 in Chennai, Tamil Nadu. It was granted the certificate for commencement of business on January 8, 2007 by the RoC. There has been no change in the activities being carried out by the company since its...

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Value Creation
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 0.07%-0.37%-0.47%-6.38%-7.39%-11.85%-6.86%-2.94%2.1%4.03%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 07.843.836.344.1000128.4
Y-o-Y Gr. Rt.-NA459.9%-17.2%21.6%-100%NANANA2683.3%
Adjusted EPS (Rs.) -0.01-0.19-0.42-2.41-2.58-2.23-1.5-1.01-0.050.44
Y-o-Y Gr. Rt.-NANANANANANANANANA
Book Value per Share (Rs.) 24.2124.123.7619.8115.6213.1511.639.899.810.17
Adjusted Net Profit -0.3-8.7-19.5-137-147-165-111-75.6-3.633.3
Net Op. Cash Flow (Rs. Cr.) 2469.5-185-14.6-7.2-10.46.5-60.5-819.9
Debt to Cash Flow from Ops 7.333.31-1.89-33.94-53.92-29.0672.43-5.93-32.1411.95
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Orient Green Power Company Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales NA-8.4%NA2683.3%
Adjusted EPS NANANANA
Book Value per Share -9.2-8.2-4.43.8
Share Price -13.4% -23% -27.9% -11.5%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) -0.04-0.77-1.63-11.48-14.56-17.71-12.09-9.43-0.494.45
Operating Profit Margin (%) 0-257.4-34.5-54.91-48.37000-1934.62-35.41
Net Profit Margin (%) 0-111.85-44.51-377.79-332.34000-356.88117.42
Debt to Equity 0.160.20.310.440.440.310.550.480.350.31
Working Capital Days 036,3318,4307,2112,3070001,70,5235,542
Cash Conversion Cycle 02313613-2200015766
Entity Percentage Holding
Promoters 48.73%
Institutions 7.70%
Non-Institutions 43.57%
Pledged *99.8999.8999.8999.8999.8999.8999.8999.8999.8999.89
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Orient Green Power Company Ltd's performance infers:

Orient Green Power Company Ltd earnings have grown by 0%, whereas share price has depreciated -23% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Orient Green Power Company Ltd share prices over the last 10 years. Here is what we found out:

Orient Green Power Company Ltd share price has depreciated -17.2% annually over the past ten years.

Orient Green Power Company was incorporated under the Companies Act on December 6, 2006 in Chennai, Tamil Nadu. It was granted the certificate for commencement of business on January 8, 2007 by the RoC. There has been no change in the activities being carried out by the company since its incorporation. The company is not operating under any injunction or restraining order.

The company has grown its business by acquiring operating and development renewable

Orient Green Power Company was incorporated under the Companies Act on December 6, 2006 in Chennai, Tamil Nadu. It was granted the certificate for commencement of business on January 8, 2007 by the RoC. There has been no change in the activities being carried out by the company since its incorporation. The company is not operating under any injunction or restraining order.

The company has grown its business by acquiring operating and development renewable energy assets from third parties and by developing greenfield projects. The company has the ability to identify assets where it can improve performance, acquire them at beneficial rates and improve operating performance. It has a diverse customer base with a mixture of off-take arrangements. The company’s customers include SEBs, distribution companies, private commercial and industrial consumers and a power trading company.

The company enters into PPAs with varying pricing arrangements depending on the type of customer, available tariffs, location and term of PPA. As a result of its renewable energy focus, it is able to avail of long-term contracted renewable energy tariff rates that, in general, are higher than long-term contracted tariffs for conventional energy and other incentives aimed at encouraging the renewable energy industry.

Business area of the company

The company is a leading Indian independent renewable energy-based power generation company focused on developing, owning and operating a diversified portfolio of renewable energy power plants. It is the largest independent operator and developer of renewable energy power plants in India based on aggregate installed capacity according to the CRISIL Report dated as of March, 2010. Currently the company’s portfolio includes biomass, biogas, wind energy and small hydroelectric projects at various stages of development.

Wind Energy Business

The company is one of the top two independent operators and developers of wind farms in India based on aggregate installed capacity according to the CRISIL Report. The wind energy business focuses on the development and operation of wind farms in India, Europe and South Asia. The company’s currently operating wind farms are located in the states of Tamil Nadu and Andhra Pradesh, which are among the top four Indian states with the highest wind potential according to the CRISIL Report and which have favorable incentives for renewable energy companies. The company is currently expanding its presence in Tamil Nadu and developing projects in other locations in India, including the states of Gujarat and Maharashtra, and also internationally, including in Sri Lanka, Croatia, the Czech Republic and Hungary. As at July 31, 2010, its total wind portfolio including operating, committed and development projects was comprised of an estimated aggregate capacity of 815.53 MW. Its wind energy business is housed in its Subsidiaries BWFPL and GGPL.

Biomass Power Business

The company’s biomass power business focuses primarily on the development and operation of multi-fuel biomass-based power plants that generate electricity from agri-residues and waste from agriculture crops, forestry and related industries, such as rice, mustard and soya bean husks, straw, cotton and maize stalks, coconut and ground nut shells, wood chips, poultry litter, and bagasse. The company target regions with sufficient availability of biomass, favorable incentives for renewable energy companies, attractive tariff structures and a shortage of electricity supply. It currently operates five biomass plants and one biogas plant with an aggregate installed capacity of 40.5 MW in Tamil Nadu, Maharashtra and Rajasthan. It also currently has biomass power projects in the committed and development stages in the states of Andhra Pradesh, Gujarat, Madhya Pradesh, Punjab and West Bengal in addition to expanding its presence in Maharashtra, Tamil Nadu and Rajasthan.

Other Businesses

The company is developing its capabilities in a small hydroelectric power plant that would serve small communities or industrial and commercial consumers. The company is currently co-developing a 15.0 MW mini-hydroelectric power project in Orissa through its 51% ownership in a joint venture company. It is also evaluating opportunities in solar and other renewable sources including waste-to-energy.

Subsidiaries of the company

  • Amrit Environmental Technologies Private Limited
  • Beta Wind Farm Private Limited
  • Bharath Wind Farm Limited
  • Clarion Wind Farm Private Limited
  • Gamma Green Power Limited
  • Gayatri Green Power Limited
  • Global Powertech Equipments Limited
  • Orient Biopower Limited
  • Orient ECO Energy Limited
  • Orient Green Power Company (Rajasthan) Private Limited
  • Orient Green Power Europe BV
  • Pallavi Power and Mines Limited
  • PSR Green Power Projects Private Limited
  • Sanjog Sugars & Eco Power Private Limited
  • Shriram Non-Conventional Energy Limited
  • Shriram Powergen Limited
  • SM Environmental Technologies Private Limited
  • Vjetroelektrana Crno Brdo doo

Group Companies

  • Haldia Coke and Chemicals Private Limited
  • Hamon Shriram Cottrell Private Limited
  • Leitner Shriram Manufacturing Limited
  • Shriram SEPL Composites Private Limited
  • Blackstone Group Technologies India Private Limited

Milestone

  • September 28, 2007: Investment by Bessemer Venture Partners Trust
  • February 29, 2008: Investment by Orient Green Power Pte. Limited, Singapore
  • April 3, 2008: Acquisition of Amrit Environmental Technologies Private Limited
  • December 8, 2008: Investment by Orient Green Power Pte. Limited, Singapore
  • January 29, 2009: Investment by Orient Green Power Pte. Limited, Singapore
  • December 23, 2009: Investment by Shriram EPC Limited, Bessemer India Capital Holding II Ltd and AEP Investment (Mauritius) Limited
  • December 28, 2009: Acquisition of Shriram Powergen Limited by way of share purchase agreement
  • January 25, 2010: Acquisition of 50.25% of shares of Bharath Wind Farm Limited
  • January 29, 2010: Acquisition of remaining 49.75% of shares of Bharath Wind Farm Limited by way of gift from Orient Green Power Pte. Limited, Singapore
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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