Orient Green Power (NSE: GREENPOWER) reduced the size proposed for its rights issue from Rs 300 crore to Rs 250 Crore.
The company’s board gave the green signal to issue equity shares with rights based on funds allocated up to Rs 300 crore in December last year.
During the meeting of the rights issue committee on February 2, the size was revised.
Renewable energy company that develops and manages a portfolio of wind farms in India, Europe, and the Middle East.
Budget 2023 has brought the stock in focus. The Finance Minister has allocated significant resources for the promotion of green energy, with an emphasis on India’s vast offshore wind energy potential.
Shares Have Risen By A Staggering Amount
Orient Green Power shares have risen 15 percent in the past three days. They reached the upper circuit of 5 percent for three consecutive sessions.
The stock gained more than 240 percent in the last year and has outperformed Nifty 50 which gained 22 percent during that period.
On February 1, the company announced that its subsidiary Delta Renewable Energy, a wholly-owned subsidiary of the company, had approved the development of solar energy capacity over two phases.
The Phase I solar power project is 19.8MW and the Phase II solar power project is 19.8MW in Tamil Nadu. Both projects will be developed by EPC contractor.
About Orient Green Power Company Ltd
Orient Green Power Company Limited, based in India, is a company that generates power using renewable energy sources. This includes wind energy.
The portfolio of assets of the Company includes 402.3 megawatts (MW) spread over Tamil Nadu and Andra Pradesh and Gujarat, Karnataka, and Gujarat.
The portfolio includes a 10.5MW wind farm located in Croatia, Europe. The subsidiaries of the Company include Beta Wind Farm Private Limited and Gamma Green Power Private Limited.
Fundamental Analysis of Orient Green Power
| Market Cap | ₹ 2,790 Cr. |
| Current Price | ₹ 28.4 |
| 52-wk High | ₹ 28.5 |
| 52-wk Low | ₹7.09 |
| Stock P/E | 64.5 |
| Book Value | ₹ 8.52 |
| Dividend | 0.00 % |
| ROCE | 7.19 % |
| ROE | 1.82 % |
| Face Value | ₹ 10.0 |
| P/B Value | 3.34 |
| OPM | 69.0 % |
| EPS | ₹ 0.75 |
| Debt | ₹ 845 Cr. |
| Debt to Equity | 1.01 |
Orient Green Power Share Price Target 2024 To 2030
| Year | 1st Target | 2nd Target |
| 2024 | ₹30 | ₹38 |
| 2025 | ₹42 | ₹64 |
| 2026 | ₹65 | ₹78 |
| 2027 | ₹80 | ₹92 |
| 2028 | ₹95 | ₹115 |
| 2029 | ₹134 | ₹165 |
| 2030 | ₹170 | ₹218 |
Orient Green Power Company Ltd Shareholding Pattern
| Promoters Holding | |
| Dec 2022 | 32.53% |
| Mar 2023 | 32.53% |
| June 2023 | 32.48% |
| Sept 2023 | 32.48% |
| Dec 2023 | 29.42% |
| FII Holding | |
| Dec 2022 | 0.20% |
| Mar 2023 | 0.01% |
| June 2023 | 0.00% |
| Sept 2023 | 0.82% |
| Dec 2023 | 1.29% |
| DII Holding | |
| Dec 2022 | 3.97% |
| Mar 2023 | 3.58% |
| June 2023 | 3.58% |
| Sept 2023 | 2.74% |
| Dec 2023 | 2.73% |
| Public Holding | |
| Dec 2022 | 63.30% |
| Mar 2023 | 63.88% |
| June 2023 | 63.95% |
| Sept 2023 | 63.96% |
| Dec 2023 | 66.55% |
Orient Green Power Ltd Share: Last 5 Years’ Financial Condition
To gain a better understanding of how the market is performing, let’s look at the outlook of this share in the previous years.
However, investors should be aware of the risks and the market conditions before making any investment decision.
Last 5 Years’ Sales:
| 2019 | ₹323 Cr |
| 2020 | ₹369 Cr |
| 2021 | ₹257 Cr |
| 2022 | ₹311 Cr |
| 2023 | ₹274 Cr |
Last 5 Years’ Net Profit:
| 2019 | ₹-49 Cr |
| 2020 | ₹20 Cr |
| 2021 | ₹-57 Cr |
| 2022 | ₹36 Cr |
| 2023 | ₹75 Cr |
Last 5 Years’ Debt-To-Equity Ratio:
| 2019 | 2.81 |
| 2020 | 2.46 |
| 2021 | 2.58 |
| 2022 | 2.48 |
| 2023 | 1.05 |
Last 10 Years’ Profit Growth:
| 10 Years: | 8% |
| 5 Years: | 16% |
| 3 Years: | -20% |
| Current Year: | 94% |
Last 10 years’ Return on Equity (ROE):
| 10 Years: | -11% |
| 5 Years: | -3% |
| 3 Years: | -3% |
| Last Year: | 2% |
Last 10 Years’ Sales Growth:
| 10 Years: | -5% |
| 5 Years: | -6% |
| 3 Years: | -11% |
| Current Year: | -10% |
Conclusion
This article is a complete guide about Orient Green Power Company Ltd Share.
These information and forecasts are based on our analysis, research, company fundamentals and history, experiences, and various technical analyses.
Also, We have talked in detail about the share’s future prospects and growth potential.
Hopefully, these informations will help you in your further investment.
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