OPG Power Ventures - Update for March 2021: Full year in line
OPG shares have been soft of late, reflecting concerns over the COVID-19 situation in India, where the company’s key power plant is based in the industrial city of Chennai. Today’s update is therefore reassuring, both for the fiscal year just completed and given commentary that the current lockdown appears to be having a more limited impact than the prior one in calendar 2020. From an investment perspective, cash generation remains key as the deleveraging should continue to shift value from the debt to the equity side of the equation.OPG Power Ventures along with its subsidiaries are engaged in the development, owning, operation and maintenance of private sector power projects in India. The electricity generated from Co.'s plants is sold principally to public sector undertakings and heavy industrial companies in India or in the short-term market. Co.'s plant are located in Chennai and Gujarat.
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