Electric Utilities company Orient Green Power Company announced Q2FY25 results Revenue from operations: Rs 12,404 lakh compared to Rs 12,230 lakh during Q2FY24. EBITDA: Rs 10,431 lah compared to Rs 10,218 lakh during Q2FY24. EBITDA margin: 83% during Q2FY25. PBT: Rs 6,646 lakh compared to Rs 7,500 during Q2FY24. T Shivaraman, Managing Director & CEO, said: “At the outset, we extend our gratitude to our shareholders for their overwhelming support in subscribing fully to the rights issue. In pursuit of our targeted installed capacity of 1GW, our company has initiated steps for developing a 20+MW solar project from the issue proceeds and another solar project of similar capacity is being planned to be developed by securing debt. Besides, we are also eyeing on repowering certain ageing assets which shall improve our revenues and asset quality. While the wind availability during the current period has been subdued due to weather conditions in Gujarat and at certain locations in Tamil nadu, our company has been able to achieve revenues and profitability similar to previous periods, thanks to the component upgradation work carried on through one of our material subsidiaries, M/s Beta Wind Farm Private Limited. This upgradation is expected to be completed by March 2025 and is likely to improve our consolidated PBT by Rs. 19Crore from FY 2025-26. The finance costs for the H1FY25 are lower by 8% over H1 of FY24, the reduction is predominantly contributed by refinancing of loans, improved credit rating and prompt servicing. We have also created a Debt Service Reserve Account (DSRA) of Rs 69 crore under the loan covenants which strengthens our liquidity position further.” Result PDF
Electric Utilities company Orient Green Power Company announced Q1FY25 results: Revenue from Operations: Rs 6,344 Lakh (previous quarter: Rs 6,722 Lakh) Other Income: Rs 495 Lakh (previous quarter: Rs 60 Lakh) Total Income: Rs 6,839 Lakh (previous quarter: Rs 6,782 Lakh) EBITDA: Rs 4,577 Lakh (previous quarter: Rs 4,719 Lakh) EBITDA Margin: 67% (previous quarter: 70%) EBIT: Rs 2,508 Lakh (previous quarter: Rs 2,667 Lakh) EBIT Margin: 37% (previous quarter: 39%) Profit Before Tax (PBT): Rs 612 Lakh (previous quarter: Rs 929 Lakh) PBT from Discontinued Operations: Rs 705 Lakh Consolidated PBT: Rs 1,317 Lakh (previous quarter: Rs 929 Lakh) Total Comprehensive Income: Rs 1,266 Lakh (previous quarter: Rs 897 Lakh) Commenting on the performance, Mr.T Shivaraman, Managing Director & CEO, said: “The current quarter is a moderate one in terms of generation. The delayed onset of wind at certain locations resulted in a marginal reduction in our revenues during the quarter as compared to the corresponding previous quarter. However, this is expected to be made up in the upcoming quarters. Without considering the exceptional items, the QoQ Profit before tax improved by 8%. The approval of One Time Settlement (OTS) from the NCLT, Mumbai during the quarter contributed to the profits from discontinued operations. Further, We have received the approvals for raising capital of about Rs 250 crore through a rights issue and the issue is expected to open by 27th of this month, through which we propose to venture into solar energy generation. With the foray into solar energy, improved credit ratings and strong customer base, we expect to create sustainable growth and deliver returns.” Result PDF
Electric Utilities company Orient Green Power Company announced Q4FY24 & FY24 results: Revenue from operations: Rs 27,098 Lakh Total Income : Rs 28,068 Lakh EBITDA %: 70% PBT: Rs 3,867 Lakh Commenting on the performance, T Shivaraman, Managing Director & CEO, said: “ The current fiscal is a moderate one in terms of wind availability witnessing a marginal increase in turnover. We have initiated component upgradation in certain identified windmills during the year and this exercise is expected to be completed in the next fiscal, which is expected to improve the generation in the years to come. The EBIDTA for the year is maintained at the same level for the year. However, the operating EBITDA and PBT improved by 9% and 16% for the year. Our improved credit rating and refinancing enabled us to cut the interest cost by ~25%. we have also created a Debt Service Reserve Account (DSRA) of ~Rs 69 crore which strengthens our liquidity position. Further, we are in the process of coming out with a rights issue of about Rs. 250crore predominantly for venturing into solar business and debt reduction. The reduced finance cost and a conducive regulatory environment promoting green energy bode well for the future”. Result PDF