Orient Green Power Company Ltd - Stock Valuation and Financial Performance

BSE: 533263 | NSE: GREENPOWER | Power Generation/Distribution | Small Cap

Orient Green Power Share Price

18.80 -0.66 -3.39%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Orient Green Power

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Orient Green Power Company stock performance -

mw4me loader
P/E Ratio (SA):
0.00
Market Cap:
1,908.5 Cr.
52-wk low:
7.1
52-wk high:
34.6

Is Orient Green Power Company Ltd an attractive stock to invest in?

1. Is Orient Green Power Company Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Orient Green Power Company Ltd is a below average quality company.

2. Is Orient Green Power Company Ltd undervalued or overvalued?

The key valuation ratios of Orient Green Power Company Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Orient Green Power Company Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Orient Green Power Company Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Orient Green Power:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

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.
Orient Green Power Company Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % -6.4%-7.4%-11.9%-6.9%-2.9%2.1%4%-0.5%-0.9%0.4%-
Value Creation
Index
-1.5-1.5-1.9-1.5-1.2-0.9-0.7-1.0-1.1-1.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 36.344.1000128.429.529.823.421
Sales YoY Gr.-21.6%-100%NANANA2,683.3%3.8%1.1%-21.3%-
Adj EPS -2.2-2.4-2.1-1.4-0.9-00.4-0.1-0.20-0
YoY Gr.-NANANANANANA-124.4%NANA-
BVPS (₹) 18.214.412.110.79.199.49.3999.8
Adj Net
Profit
-137-147-165-111-75.6-3.633.3-8.3-19.51.7-2
Cash Flow from Ops. -14.6-7.2-10.46.5-60.5-819.913.7-5.5-1.8-
Debt/CF from Ops. -33.9-53.9-29.172.4-5.9-32.11220.6-53.2-158.4-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -4.7%NA-6.2%-21.3%
Adj EPS NANA-63.5%NA
BVPS-7.5%-0.1%-1.2%0.4%
Share Price 8.6% 37.4% 114.3% 159.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
-11.5-14.6-17.7-12.1-9.4-0.54.5-1.1-2.60.2-0.2
Op. Profit
Mgn %
-54.9-48.4000-1934.6-35.5-28.7-20.8-38.5-25.5
Net Profit
Mgn %
-377.8-332.3000-356.9117.4-28.1-65.67.2-9.2
Debt to
Equity
0.40.40.30.60.50.40.30.40.40.4-
Working Cap
Days
7,2112,3070001,70,5235,5435,0564,5465,575297
Cash Conv.
Cycle
13-22000157651193714278

Recent Performance Summary

No data to display

Return on Equity is Poor

Sales growth has been subdued in last 3 years -6.20%

Net Profit has been subdued in last 3 years -63.46%

Sales growth is not so good in last 4 quarters at -14.66%

Latest Financials - Orient Green Power Company Ltd.

Standalone Consolidated
TTM EPS (₹) -0 0.4
TTM Sales (₹ Cr.) 21.4 279
BVPS (₹.) 9.8 8.3
Reserves (₹ Cr.) -18 -163
P/BV 1.98 2.34
PE 0.00 44.80
From the Market
52 Week Low / High (₹) 7.09 / 34.63
All Time Low / High (₹) 1.10 / 43.54
Market Cap (₹ Cr.) 1,908
Equity (₹ Cr.) 980.7
Face Value (₹) 10
Industry PE 20.2

Management X-Ray of Orient Green Power:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.0022.6715.4399.8599.8599.8499.8499.9976.5493.16
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Orient Green Power

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales3644000128293023
Operating Expenses 56680971172750383632
Manufacturing Costs3034111229292923
Material Costs0000000000
Employee Cost 101188864332
Other Costs 1624-9881091917547
Operating Profit -20-240-97-117-26-21-8-7-9
Operating Profit Margin (%) -55.0%-55.1%----2,577.6%-75.2%-28.7%-22.1%-38.5%
Other Income 151710154356617216
Interest 485619305737105154
Depreciation 81810001100
Exceptional Items -74-15700000000
Profit Before Tax -137-239-163-112-132-629-7-203
Tax 0000000000
Profit After Tax -137-239-163-112-132-629-7-203
PAT Margin (%) -376.0%-541.0%----636.0%103.3%-25.2%-66.4%12.1%
Adjusted EPS (₹)-2.2-3.9-2.0-1.4-1.6-0.10.4-0.1-0.20.0
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 1,125887973860742736764756734737
Share Capital 568568740740751751751751751751
Reserves 557319233120-9-15135-17-14
Minority Interest0000000000
Debt46135727084358253236279287283
Long Term Debt45633925874358253233279287283
Short Term Debt5181210004000
Trade Payables92723302711422
Others Liabilities 8010888480131109931172
Total Liabilities 1,6761,3791,3541,4541,2331,1041,1041,0491,0301,025

Fixed Assets

Gross Block275277174175113211
Accumulated Depreciation15333953112211
Net Fixed Assets260244136122001000
CWIP 0000000000
Investments 997950560777706677668668668668
Inventories3411000000
Trade Receivables5917121125841
Cash Equivalents 41531100001
Others Assets370167636541525426411373358355
Total Assets 1,6761,3791,3541,4541,2331,1041,1041,0491,0301,025

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -15-7-107-60-82014-5-2
PBT -137-239-163-112-132-629-8-223
Adjustment 119220155101118521618-7
Changes in Working Capital 410-218-47-7-3116-1-0
Tax Paid -1200010002
Cash Flow From Investing Activity -104144-75-1611351154054
Capex -3-25608100000
Net Investments 2000000002
Others -103146-131-161541155052
Cash Flow From Financing Activity 118-13384153-75-107-24-140-1
Net Proceeds from Shares 0025001400000
Net Proceeds from Borrowing 173-119-80172-78-103-21-531
Interest Paid -28-23-82-17-3-4-5-4-3-2
Dividend Paid 0000000000
Others -279-4-2-702-500
Net Cash Flow -14-1-1-100000
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)-12.22-23.71-17.56-12.26-16.42-0.883.91-0.98-2.650.38
ROCE (%)-5.46-12.58-11.28-6.28-6.142.883.91-0.24-0.460.64
Asset Turnover Ratio0.020.0300000.030.030.030.02
PAT to CFO Conversion(x)N/AN/AN/AN/AN/AN/A0.69N/AN/A-0.67
Working Capital Days
Receivable Days31580003431632027139
Inventory Days252600000000
Payable Days0000000000

Orient Green Power Company Ltd Stock News

Orient Green Power Company Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Orient Green Power on 28-Mar-2024 16:01 is ₹18.80.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Orient Green Power stood at ₹1,908.5.
The latest P/E ratio of Orient Green Power as of 28-Mar-2024 16:01 is 0.00.
The latest P/B ratio of Orient Green Power as of 28-Mar-2024 16:01 is 1.98.
The 52-week high of Orient Green Power is ₹34.63 and the 52-week low is ₹7.09.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Orient Green Power is ₹21.39 ( Cr.) .

About Orient Green Power Company Ltd

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
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